HEALTH CARE REFORM

There is still much to be decided or that may change, but at this point, below is a summary of some changes to expect if the Senate passes the House's changes and President Barack Obama signs the entire package into law:

Within the first year:

• Insurers will be barred from excluding children for coverage because of pre-existing conditions.
  Young adults will be able to stay on their parents' health plans until the age of 26. Many health plans currently drop dependents from coverage when they turn 19 or finish college.
  


• Uninsured adults with pre-existing conditions will be able to obtain health coverage through a new program that will expire once new insurance exchanges begin operating in 2014.
  


• A temporary reinsurance program is created to help companies maintain health coverage for early retirees between the ages of 55 and 64. This also expires in 2014.
  


• Medicare drug beneficiaries who fall into the "doughnut hole" coverage gap will get a $250 rebate. The bill eventually closes that gap which currently begins after $2,700 is spent on drugs. Coverage starts again after $6,154 is spent.
  


• A tax credit becomes available for some small businesses to help provide coverage for workers.

In 2011:

• New health plans will be required to cover preventive services with little or no cost to patients.
  


• Employers are required to disclose the value of health benefits on employees' W-2 IRS forms.

In 2014:

• State health insurance exchanges for small businesses and individuals open.
  


• Most people will be required to obtain health insurance coverage or pay a fine if they don't.


• Healthcare tax credits become available to help people with incomes up to 400 per cent of poverty purchase coverage on the exchange.
  


• Health plans no longer can exclude people from coverage due to pre-existing conditions.
  Employers with 50 or more workers who do not offer coverage face a fine of $2,000 for each employee if any worker receives subsidized insurance on the exchange. The first 30 employees aren't counted for the fine.
  


• Health insurance companies begin paying a fee based on their market share.

In 2018:

• An excise tax on high cost employer-provided plans is imposed. The first $27,500 of a family plan and $10,200 for individual coverage is exempt from the tax. Higher levels are set for plans covering retirees and people in high risk professions.