cup of jojo

Here’s 2 concrete things that kick in today, August 1st 2012, directly due to the passing of the Affordable Care Act.

#1: “All new insurance plans will be required to cover additional services and tests for women, with no out-of-pocket costs, including domestic violence screenings, FDA-approved contraception, breast-feeding counseling and supplies and a well-woman visit, where she can sit down and talk with her health care provider.” -NPR health blog

The part you probably care about is that birth control will be free with your health plan—not even a deductible. This may not officially kick in until your employer’s health plan “renews” next, so ask your HR representative when that will happen. 

#2: “Insurers are required to give out annual rebates by Aug. 1, starting this year, if less than 80 percent of the premium dollars they collect go toward medical care. For insurers covering large employers, the threshold is 85 percent.” -NYTimes health blog

Other things your insurance company may be spending your premium dollars on include administrative costs and CEO bonuses…from here out, no more than 20% can go to that stuff, the rest has to go to actual HEALTH CARE. Imagine that.

This lady just got a check in the mail for $456.1…unfortunately she is probably in the minority. Unless you are self-employed and pay out of pocket for health insurance, these rebate checks will go to your employer, and they may choose to apply the money to reducing your premium next year. Which is still a good thing. Good luck trying to find out THAT info from your HR person…but in theory, you could ask.