| President Obama recently signed into law a new | | | | 2014 when the expanded coverage provisions |
| healthcare reform bill which will make expand | | | | come online. |
| health insurance coverage for 32 million who do | | | | Medicare Advantage Changes. The law changes |
| not currently have insurance coverage. This law | | | | the way that Medicare Advantage plans are paid |
| will be phased into effect over the next decade | | | | by bringing payments closer into line with the |
| but it offers a lot to help family caregivers both in | | | | costs of the regular Medicare program. These |
| the short term and the long term. | | | | payment changes may impact the benefits |
| The benefits of the law fall into 2 categories - | | | | provided under these plans so keep review your |
| provisions which help the care recipient through | | | | plans coverage carefully at renewal time. |
| public programs and those that help the caregiver | | | | 2011 and Beyond |
| through expanded health insurance coverage and | | | | The bulk of the new benefits and subsidies for |
| better consumer protections. The biggest | | | | health insurance will begin in 2014. The lead time is |
| advantage to care recipients comes through | | | | necessary to accumulate funds to pay for the |
| expanded Medicare prescription drug coverage | | | | cost of the new coverage. |
| and additional health insurance options for | | | | Expanded Coverage Through Health Exchanges. |
| pre-Medicare retirees. | | | | These state-based marketplaces start operation |
| Family caregivers will see their biggest benefits | | | | in 2014 and are based on the Massachusetts |
| come from the fact that they will be able to get | | | | Health Connector system, in which individuals and |
| health insurance whether or not they are | | | | small businesses are able to purchase health |
| employed. The new insurance coverage options | | | | insurance. The goal is to provide individuals and |
| will be a big benefit to caregivers because many | | | | small businesses with transparency in benefits and |
| remain tied to jobs in order to receive health | | | | pricing so they can compare health insurance and |
| insurance. By providing new coverage options and | | | | purchase the coverage that best fits their needs. |
| subsidies to help pay for them, family caregivers | | | | Individual Mandate. Almost all Americans will be |
| now have additional options on whether or not | | | | required to get insurance coverage or face fines-a |
| they want to continue working or care for their | | | | system similar to the one that's already in place in |
| loved one full time. Below we walk through the | | | | Massachusetts. The fines start small at $95 in |
| key provisions which are likely to impact family | | | | 2014, but rise rapidly to $695 in 2016. Low-income |
| caregivers. | | | | individuals are exempted from the mandate but |
| Goes Into Effect Over the Next Year | | | | most of them will be eligible for coverage through |
| The expansion of coverage provided by the new | | | | Medicaid or other subsidies. |
| healthcare reform law will not be available until | | | | Health Insurance Subsidies. In order to help |
| 2014 but there are many portions of the law | | | | families afford the mandatory insurance |
| which will go into effect during 2010 and 2011. | | | | premiums, starting in 2014 subsidies will be |
| Improvements to Medicare Prescription Drug | | | | available on a sliding scale, up to a level of |
| Coverage. The bill provides a $250 "bonus" to all | | | | $88,000 per year for a family of four. The |
| people in a Medicare Prescription drug program in | | | | amount of the subsidies will also be on a sliding |
| 2010 that hit the "doughnut hole" which currently | | | | scale, meaning that people with lower incomes will |
| begins at $2,830. It also begins closing the | | | | receive larger benefits. |
| Medicare Prescription Drug "doughnut hole" in 2011 | | | | Long Term Care. The bill includes the CLASS Act, |
| and would completely eliminate it by 2020. | | | | which provides a public, voluntary long term care |
| Helping Sandwich Generation Caregivers. The bill | | | | program that working people can purchase. The |
| helps sandwich generation caregivers, those caring | | | | program would cover home care, respite care, |
| for sick parents or relatives and their own | | | | home modifications, transportation, and assistive |
| children, by: | | | | technologies. |
| - Eliminating pre-existing conditions for children | | | | What's Next |
| thereby ensuring sick children can get insurance | | | | While health insurance reform has passed and will |
| coverage. | | | | be signed by the President within days, the |
| - Permitting children up to age 26 to stay on their | | | | Senate still needs to act on a bill to fix some of |
| parents insurance policies regardless of whether | | | | the problems in the bill enacted into law. That's |
| or not they are full-time students. Most insurers | | | | expected to take place this week. |
| currently cover dependents not in school only up | | | | It is unlikely that work on health reform is done. |
| to age 19 and those in school up to age 23. | | | | The lesson of other social insurance programs is |
| - Prohibiting lifetime benefits caps on health | | | | that they always remain works-in-progress. Social |
| insurance. Temporary Early Retiree Program. The | | | | Security and Medicare have been modified and |
| law requires the creation of a temporary | | | | expanded a great deal since they were first |
| voluntary reinsurance program for employers to | | | | enacted. You can expect similar developments to |
| help cover early retirees within 90 days of | | | | occur with healthcare reform as it moves |
| enactment. This should help pre-Medicare retirees | | | | forward. |
| find affordable coverage. The program ends in | | | | |