Health is wealth. The need to be healthy and remain healthy cannot be overrated. The health of the citizens of a country always has its effect of the country’s economy. This perhaps explains why the Obama Administration has taken the health care reform in the United States quite seriously, and passed the Affordable Health care act. This act brought a lot of changes into the insurance sector. These changes have impacts on the both the insurers and the individuals seeking insurance.
Key points in the bill 1. The health insurers are not allowed to refuse coverage for insurance or make different charges considering the patient’s medical histories. 2. The employers must provide coverage for their workers or pay surtax up to 8%. 3. There are subsidies provided for low and middle level Americans while buying insurance .4. Those who make less that $48000 a year are eligible for this financial assistance. 5. There would be a central health insurance market place where people will have the privilege of comparing various policies. 6. There are eight new taxes included which would affect the customer premiums directly. 7. All Americans would have to carry health insurance coverage or will have to face a penalty.
The effect on young single uninsuredAs there are minimum set of benefits in every plan, the coverage for it has also increased. The scheme comes as an overburden for young adults. They feel it would be better to pay the fine instead of accepting the insurance scheme which makes the individual pay thousands of dollars every year.
The Affordable health care act comes as a concern for the insurance companies too as they find it difficult to persuade the young adults to apply for the scheme.
The young single individual who is uninsured and not eligible for subsidies will have his premium amounts being hiked by 42 percent. However, a majority of single uninsured individuals in 20s shall be eligible for the subsidies provided by the government.
The outcome of this act shall prove to be worthy for senior individuals but for youngsters (young single uninsured), it still remains an issue. If a lot of youngsters opt out of the scheme, it will affect the stability of Affordable Healthcare Act as a whole. This led to the Blue Cross Blue Shield of NC (North California) writing the federal office regarding the meager response from the young single individuals. However one of the positive aspects of this act on young adults is that, the insurers are not allowed to remove adult children from the parent’s policies and the health insurance coverage will be available till the adult child reaches the age of 26.
Blue Cross Blue Shield of NC and Affordable Healthcare Act
Blue Cross Blue Shield of North Carolina holds independent license from BCBSA, which includes 38 insurance companies in US. Most hospitals in the US accept this insurance coverage of BCBSNC. It has become mandatory for all Americans to have an insurance coverage for their health, and seeking an affordable health plan is not an easy task. This makes the effort of Blue Cross Blue Shield of NC in providing affordable insurance coverage to both companies and individuals commendable.