Has it really been a year already?
A year ago this week Congress passed the Patient Affordable Care Act (PACA), and 12 months later, the law is just as controversial as ever. This has giving the opportunity for both supporters and critics to debate the impact of the overhaul and how it has impacted the way we feel about healthcare.
Across the country, there are signs of supporters who are holding events to mark the first anniversary of its proudest single achievement; this was the biggest overhaul of the US health care system in half a century, a $2.5trn sector that accounts for one sixth of the entire national economy. As Vice President Joe Biden explained, “this is a big deal”. Some of the appealing elements have already kicked in. Insurance companies have had to retool they way they do business and we as Agents have seen the effects of this change.
One of the best open enrollment meetings I have had over the past 3 years came this December when I was able to explain to our client that the Insurance Carrier could not deny coverage for children with pre-existing conditions, or impose caps on benefits. Children can also now stay on their parents' policy until they are 26. Some preventive treatments such as mammograms are now free. This was a great meeting and as you can imagine, the members were very excited to hear this news.
This “big deal” will be a large part and theme of the 2012 election campaign. Good luck in explaining how this has changed the bottom line to those running for either reelection or trying to be elected. Sides have been drawn up and we hope that the people in the middle don’t get hurt. So, to everyone involved….stay tuned and remember how you felt one year ago this week.