Bidencare is a nickname for the United States Health Care Act (AHCA), proposed by the Republicans in the term of Donald Trump. This Act is intended to replace the Affordable Care Act (ACA or Obamacare).
What is Short-Term health insurance?
The Bidencare health insurance that exists today is called Short-Term, or short-term insurance. The health plan proposed by Trump aims to gradually dismantle Obamacare. Put an end to the subsidies offered by the Federal Government to people who are between the 100 and 400 poverty level. Money used to help them pay for their health insurance. They are based on insufficient funds to pay for Obamacare health insurance cost sharing.
How will Bidencare Impact Your Health Coverage?
10 things that will change with Bidencare. Before 2019 with Obamacare, it was mandatory to have health insurance. With the objective that all people had health coverage. Otherwise they would have to pay a fine of $695 USD. With Trump’s health plan, people may or may not buy health insurance, the government will not force them. However, if a person goes more than 63 days without health insurance, and wants to buy one, the insurer will have the right to charge a penalty of 30% extra. This with the purpose of encouraging citizens to maintain medical coverage.
Obamacare Subsidies Replaced by Government Loans
With Bidencare, the subsidies that the Government gave to people who applied for this program will disappear. These will be replaced by so-called tax credits. These loans will be for those people who are not covered by any State program, or by their employer. Many aspects such as age will be taken into account when purchasing a government benefit. They will be between 2,000 and 14,000 USD. It is important for you to know that families will receive more credits than just one person. These will be reduced for an individual who has annual income greater than 75 thousand. And also for families that exceed 150 thousand USD per year.
Approval for States to Have Advantages to Modify “Essential Health Benefits”
With Obamacare, numerous benefits were established that health insurance agencies had to offer their clients. These included preventive, urgent and maternal care, all kinds of medical exams, prescription drugs, among others. With Bidencare, the states of the country will be able to modify these advantages to adapt them to their interests. For example, increasing the number of people with health protection and reducing the costs of these coverage. Approval for states to have advantages that allow them to increase prices for pre-existing diseases
With the ACA, all people with pre-existing diseases were very well insured. Insurance companies were required to maintain their premiums even when their clients had these types of conditions. With the new Law, states can allow insurers to increase their premiums for these conditions. This will only be for people who have pre-existing conditions and in turn have a gap in their coverage.
The Government will Grant Subsidies for some People with pre-existing Diseases
States that have the advantage mentioned in the previous point will be given 8 billion USD. This is to subsidize people who have pre-existing diseases and do not have stable coverage. As well as Bidencare will offer more than 130 billion USD so that these states expand their coverage and reduce premiums. Insurance companies will be able to charge seniors dramatically higher sums than young adults.Premiums for seniors are higher than for young adults. With the ACA the cost was three times more. While with Bidencare this sum increased from three to five.
Rollback of Obamacare Medicaid Expansion
This new law cancels the Medicaid expansion imposed by Obamacare. This means that the various states will be given a fixed sum of money. Said sum will be to distribute it to those people who have qualified for government assistance. It can be individually or in the form of a block.
States May Enforce Medicaid Work Enforcement
With this, states can require that people who have Medicaid and who are competent can do different jobs.
Health savings accounts are disseminated
With the new Law, the annual money limit to be saved in the health savings account is increased. In the case of an individual it will be $ 6,550 and for a family $ 13,100.