Health Care Reform
On March 23, 2010, President Obama signed into law the health care reform bill, the Patient Protection and Affordable Care Act. This legislation, along with the Health Care and Education Reconciliation Act of 2010, makes sweeping changes to the U.S. health care system. These changes will be implemented over the next several years. Below is an overview of the key reform provisions that have been implemented. If you would like more information on the Health Care Reform please visit their website.
Exchange Notice (PDF)
Exchange Notice (PDF)
- Effective January 1, 2014 insurance will be made available through the California Health Insurance Marketplace.
- Under the Affordable Care Act, if your plan covers children, you can now add or keep your children on your health insurance policy until they turn 26 years old.
- The Affordable Care Act prohibits health plans from putting annual or lifetime dollar limits on most benefits you receive.
- Under the Affordable Care Act, you and your family may be eligible for some important preventive services - which can help you avoid illness and improve your health - at no additional cost to you.
- Under the Affordable Care Act, health insurance companies can't refuse to cover you or charge you more just because you have a "pre-existing condition - that is, a health problem you had before the date that new health coverage starts. They also can't charge women more than men. These rules went into effect for plan years beginning on or after January 1, 2014.
- The health care reform law will increase the additional tax on HSA withdrawals prior to age 65 that are not used for qualified medical expenses from 10%-20%.
- The Health Savings Account has different guidelines as it relates to newly eligible over age dependents. These dependent children in question who are now eligible for coverage under the health plan may not be considered tax dependents for HSA distributions.