It’s no secret that many of the significant changes under healthcare reform most affect those with pre-existing conditions and/or those who do not have health insurance. But we’d like to note two major changes that will affect everyone starting in September 2010, even if they already have health insurance:
No More Lifetime Maximums. Beginning in September, health insurance policies will no longer be able to cap your benefits with lifetime maximums. You may think that you are never going to reach that $X million maximum, but you would be surprised how quickly you could reach that number if you are diagnosed with a major illness or long-term medical condition. If such disaster strikes, health insurance companies will no longer be able to cut off your health insurance coverage during your treatment on basis of reaching a lifetime maximum.
Rescissions Prohibited. In addition, health insurance companies will be strictly prohibited from cancelling health insurance coverage for people who get sick and begin to file large claims against their insurance, a practice usually called “rescission.” In the past, health insurance companies would justify rescinding insurance policies based on minor mistakes or unrelated omissions from people’s health insurance policy, for example not listing teen-age acne from a health history. Starting in September, health insurance companies will only be able to rescind health insurance policies in cases of actual fraud.
Many more changes will occur in 2014, but we thought these were major changes which deserved to be highlighted since they are significant and affect everyone!
For more on related topics, visit us at MyHealthCafe.com:
- Healthcare Reform: Health Insurance and Sex Discrimination
- Healthcare Reform: No Surprise, Health Insurance Companies Fight Covering Children with Pre-Existing Conditions
- Healthcare Reform: Health Insurance Industry Backs Down and Will Cover Children with Pre-Existing Conditions
- Healthcare Reform: Immediate Changes for Health Insurance and Pre-Existing Conditions
- Healthcare Reform Changes: Health Insurance and Adult Children