July 26th, 2010 – On September 23rd we’ll see some significant changes that will add benefits to new plans with effective dates on or after September 23rd.
Starting on September 23rd, 2010:
- Children under the age of 19 can no longer be denied coverage due to pre-existing conditions. However, it is my understanding that children can be charged a higher than standard premium based upon pre-existing conditions.
- Lifetime and certain annual benefits limits will no longer be allowed.
- Rescission of insurance policies will be limited to in the event of a mistake in eligibility, without fraud or misrepresentation.
- Designated preventative care benefits will be coverednot subject to deductible or copays.
These changes will also add costs to existing plans that went into effect after March 23rd, 2010, when President Obama signed the Protection and Affordable Care Act into law. Many plans sold prior to that will be considered “Grandfathered” and may not subject to the resulting rate increases.