13 October, 2013

Affordable Care Act: High deductibles could pinch consumers - chicagotribune.com

Affordable Care Act: High deductibles could pinch consumers - chicagotribune.com: Insurers say the price and cost hikes result from new benefit mandates, additional taxes levied as part of the law and a requirement that they can no longer deny coverage to people with pre-existing medical conditions.

The vast majority of insurance plans for 2014 must include a list of 10 essential health benefits, some of which, like maternity care, weren't necessarily included in all health plans a year ago.

The law also includes mandatory coverage of mental health and substance-abuse treatment, prescription drugs and rehabilitative care. All preventive care, including annual physicals and routine immunizations like flu shots, must be covered at no cost.

Further, insurers are required to take all applicants, regardless of whether they have pre-existing medical issues that may have locked them out of coverage in the past. And they're prohibited from charging their oldest, sickest members any more than three times as much as their youngest, healthiest members, causing premium prices to rise for many younger people.

Costs associated with those mandates are passed along to all members of a health plan.