The health care law, which was recently upheld by the Supreme Court, is bringing changes that many may welcome. Beginning in 2014, the law will prohibit insurers from denying applicants coverage (or charging them more) on the basis of pre-existing conditions.
In addition, tax credits will be available to married couples with modified adjusted gross income of up to $60,520 and individuals with modified AGI of up to $44,680 that will help defray the cost of premiums. (These are 2012 dollar amounts, which will be adjusted for inflation in 2014.)
Also, a new “age rating” rule will reduce the difference between policy premiums sold to older applicants and younger people, which could serve to reduce costs for older individuals.
For more information about the changes in the new health care law, contact Hunter Insurance at 401-769-9502.
NOTE: The number of insured people between the ages of 50 and 64 has risen 71 percent between 2000 and 2010 to 8.9 million.
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