2010 – Government will start offering tax credits to nearly 4 million small businesses to help them offer coverage to their employees. Tax credits will go to small businesses with 50 or fewer employees and cover 35 percent of the premiums.
? Tens of thousands of uninsured Americans with preexisting conditions will finally be able to purchase the coverage they need.
? Insurance companies will no longer be able to drop people’s coverage when they get sick or place lifetime limits or restrictive annual limits on the care they can receive.
? All new insurance providers will be required to offer preventative care.
? All people aged 26 or younger will be allowed to stay on their parents’ health care plans.
? Seniors will receive a $250 rebate to help cover the “doughnut hole” in Medicare drug coverage. The reforms will not cut guaranteed benefits that seniors receive.
2011 – People who have Medicare will be able to receive a free wellness visit once a year and a prevention plan service tailored to their individual needs.
2012 – The Medicare payroll tax increases from 1.45 percent to 2.35 percent for individuals earning more than $200,000 and married couples with incomes over $250,000.
2013 – Hospital insurance tax increases .9 percent for those earning $200,000 ($250,000 for married couples filing jointly).
2014 – Citizens will be required to have some health insurance coverage or pay a penalty. Those penalties will be $95 in 2014, $325 in 2015, $695 (or 2.5 percent of their income) in 2016.
Businesses with more than 50 employees must offer coverage to employees or pay a $2,000 fine per employee after their first 30 employees.
2018 – An excise tax will be imposed on high-cost, employer-provided health plans beyond $27,500 for family coverage and $10,200 for single coverage.
