Here’s the latest on the Obama health insurance reform. The government of the United States has announced a new law which will make healthcare insurance coverage easily accessible as well as affordable for majority of the Americans. The program is being implemented by using the existing health insurance system which includes insurers, doctors as well as policies being provided in the market.

Under the new Obama law for health insurance :

  • Buyers can take decisions pertaining to healthcare issues directly with doctors, bureaucrats will not be able to hamper the process
  • It will be possible to reduce costs on health insurance premiums and save up to $2,500 annually
  • Buyer will have an array of new as well as affordable health care coverage options to choose from
  • Even small business owners can get low cost health insurance policies for their employees
  • Americans with pre-existing medical conditions can get comprehensive benefits and that too at fair premiums

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What Does The Obama New Law About Health Insurance Aim For?

President elect Obama’s health insurance law envisages a 3-fold plan for boosting quality life expectancy within the country. Currently, it is being estimated that over 50 million Americans do not have health care coverage and many others could be faced with the issue of not having a low cost health insurance.

Hence, the Obama new health insurance law is aimed at :

  • Making affordable health care easily available to all Americans – Prescribed medication can be highly expensive and buyers can save a lot of money on these out-of-pocket expenses if medicines are imported from some other countries and by using generic medications in all public programs.
  • Developing a healthcare system that is in tune with modern technology – The President believes that if advanced modern technology is used for providing medical care services to patients, there will be little scope for errors that at times can prove to be fatal for patients’ health.
  • New health insurance law lays emphasis on preventive healthcare measures – Obama’s new health insurance plan focuses on preventive health care measures such as Cancer screenings. This will help Americans save thousands of dollars on chronic diseases many of which could be prevented if detected on time.

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About Obama Care And Health Insurance Plan-Rules And Regulations

As per released Obama health insurance plan details, it will be now much easier for individuals with some pre-existing medical conditions as well as owners of small businesses to get coverage at easy to afford premium rates. The program is aimed at providing:

  • Guaranteed Availability of Coverage-Insurers cannot deny health coverage to individuals just because they have some pre-existing medical conditions. Buyers can purchase cover when enrollment periods are open and additionally, they can also take advantage of special enrollment schemes.
  • Fair Health Insurance Premiums – Individual and small group health benefit schemes will now be governed by the rules of the Obama care health insurance plans. Consequently, health insurance coverage will be available at fair premiums to all individuals and groups.
  • Single Risk Pool – All health care insurance providers across the country will be needed to maintain single risk pools statewide for each and every individual as well as small employer groups unless a state opts for merging both these pools into one pool.
  • Guaranteed Renewability of Coverage – Proposed changes in Obama plan health insurance will serve to reaffirm current level of financial protection which individuals and employers have already secured with regards to the health coverage that is up for a renewal. And there are some additional provisions for protecting consumers.
  • Catastrophic Plans – Special plans which grant protection against catastrophes will be made available at lower premiums to young adults as well as to people who may otherwise find it difficult to get health care coverage at affordable rates.