How Federal Reform Will Help Missouri's Families and Communities

via Missouri Jobs with Justice:

Comprehensive health reform legislation will:

• Provide more than 30 million Americans access to affordable health coverage.
• Reduce the federal deficit by $132 billion over 10 years.

In Missouri:

• 495,000 uninsured Missourians will gain health coverage.
• More than 1 million Missourians will access more affordable coverage through the health insurance exchange.
• 516,000 residents could qualify for premium tax credits to help them purchase health coverage.
• 961,000 seniors would receive free preventive services.
• 171,000 seniors would have their brand-name drug costs in the Medicare Part D “doughnut hole” halved.
• 79,900 small businesses could be helped by a small business tax credit to make premiums more affordable.

Reform Legislation Includes Significant Private Health Insurance Reforms to:

• Prohibit private insurance companies from turning down individuals because of pre-existing medical conditions or rescinding policies.
• Stop insurance companies from charging higher premiums because of pre-existing conditions, gender, or occupation
• Prohibit annual or lifetime limits on coverage. Protect consumers with annual out of pocket spending caps after which the insurance company must pay.
• Cap insurance company administrative overhead and profits, requiring insurers to use premiums to pay for medical care. Insurance companies must spend 85% of premiums on medical care in the group market and 80% in the individual market.
• Strengthen oversight of insurance premium rates and rate increases.
• Allow sales of insurance across state lines, as long as companies comply with minimum
requirements created by states participating in compacts authorizing such sales.