Pacific Prime Insurance Releases its "Quick Guide to Obamacare"

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With the recent Obamacare controversy in the US, Pacific Prime has released an article which clarifies the changes to the US health care insurance industry.

Pacific Prime

Pacific Prime

...despite the Obama Administration’s claims that the PPACA would lower premiums, recent studies have shown that premiums have increased significantly for the average American.

In light of the recent shutdown of the US federal government, Pacific Prime has released a guide to Obamacare for its global clientele, who may be intrigued by the recent controversy in the US but also may not fully understand what Obamacare is.

The guide covers the basics of Obamacare, including the changes that the reform has both brought and will bring to the American health care system.

The Patient Protection and Affordable Care Act (“Obamacare”) is a reform of the health care system in the US under the Obama Administration with the primary goal of making health care available to every US citizen. Having started in 2010, its provisions are being implemented gradually with a proposed end date of 2020.

Many changes to the US health care system have already taken effect: Insurance companies can no longer deny sick individuals or chronically ill children coverage, youth until the age of 26 are covered under their parents' health insurance, insurers can no longer raise premiums without state approval, and more.

The guide also provides a time-line of changes that are scheduled from now till 2020.

January 1st, 2014 will be a significant turning point for Obamacare as all Americans who can afford medical insurance will be required to be covered by this date. Citizens who choose not to be covered will be required to pay a fine. The start of 2014 will also bring the elimination of pre-existing conditions.

By 2015, a doctor's pay will be based on quality of care, not the number of patients treated. By 2017, states will be allowed to propose their own plans as long as they provide the same care at the same price as the PPACA. By 2018, all medical care plans will be required to cover preventative care. By 2020, the Medicare gap will be eliminated.

Despite the Obama Administration’s claims that the PPACA would lower premiums, however, recent studies have shown that premiums have increased significantly for the average American. Rates for men have increased by an average of 97-99%, and rates for women have increased by an average of 55-62%.

The full article is available at http://www.pacificprime.com/resources/news/2013/10/07/guide-to-obamacare/.

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Neil Raymond
Pacific Prime
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