- 1). Study a timeline of the health care reform bill to find out when changes will be implemented.
For example, in 2010 alone, the following changes will take place: Uninsured individuals who have pre-existing conditions will get health coverage through a temporary program that will be put in place until the new state health insurance exchanges for small business and individuals begin operating in 2014. Seniors who encounter the doughnut hole in the Medicare Part D Prescription Drug Plan will receive a $250 rebate starting June 10, 2010 (See Resources for more information about the rebate check). Insurance companies will no longer be able to drop insured people when they fall ill. Children can no longer be excluded for pre-existing conditions. Dependent children may stay on their parents' health insurance now until they are 26. And small businesses get a tax credit to help them give coverage to employees.
More changes will occur in 2011, 2012, 2013 and beyond. By 2014, most people must buy health insurance, and healthcare tax credits will help people with incomes four times that of poverty level pay for their healthcare coverage.
See Resources for a summary of when the health care changes will take effect. - 2). Calculate your healthcare expenses before the healthcare bill takes effect. Take into account preventative and condition-related care for all the members of your family. If you do not currently have health insurance and tend not to see the doctor for that reason, make calculations based on what you would have spent previously in health costs.
- 3). Until the finalized exact figures of what the tax credits will amount to, who is eligible, etc. are available, try to estimate how much of a tax credit you'll receive, if any, by reading the key points of the healthcare bill (see Resources). Here you'll find charts of family income and the proposed tax credit amount.
- 4). Follow the appropriate link for your situation at http://www.whitehouse.gov/healthreform, where you'll find information on the impact of the Health Care Reform Bill on you're particular situation if:
1) you have insurance through work
2) are a small business owner
3) have no health insurance
4) have Medicare or buy your own insurance. - 5). Check with your current insurance company about any changes to health care premiums in the upcoming months or years. If you do not have health care now, you will not need to purchase it until 2014. If you wish to add yourself or children with pre-existing conditions, contact an insurance company for quotes.
- 6). Based on the health care expenses without the health reform and the projected expenses, calculate the difference between premiums and health care costs now and the costs, minus any estimated credits, once the health care reform bill takes effect.
- 7). If you are a senior and know you will fall into the coverage gap, or doughnut hole, of the Medicare prescription drug program (part D), for your 2011 calculation, subtract half your brand name prescription drug medical expenses that fall in the coverage gap, as there is a 50% reduction in the donut hole in 2011 due to the passing of the health care bill. The one-time $250 refund check is being sent automatically by Medicare to those who hit the coverage gap in 2010.
- 8). Visit authoritative sites like HealthReform.gov to keep up with the latest news on health care reform. There you can click on your state and find out how the health reform bill will impact you. If you are ambitious enough to want to read the entire draft of the health care reform document, then see Resources for a link.
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