Age PreX
Prohibit insurers from denying coverage or charging higher premiums because of a person’s medical history or health condition.
Limits the amount insurers can charge older adults compared to what they charge younger adults to a 3:1 ratio.
Senate Bill
People with pre-existing conditions who have been turned down for health insurance could sign up for a high-risk insurance pool that would be available within 90 days and remain available until 2014. Within six months, insurers would be prohibited from denying coverage to children based on pre-existing medical conditions, from placing lifetime dollar limits on coverage and from rescinding coverage when a person becomes sick or disabled. The ban on exclusion based on pre-existing conditions would be extended to every one when the exchanges are operational in 2014.
Premiums for older people cannot be more than three times the premium for young adults.
Insurers competing in the new exchanges would be required to justify rate increases and those who raise prices excessively could be barred from the exchanges.
Insurers would be required to spend more of their premium revenues — between 80 to 85 cents of every dollar — on medical claims. According to a recent Senate Commerce Committee analysis, the largest for-profit insurance companies spend about 74 cents out of every dollar on medical care in the individual market.
Reconciliation Bill
Would extend the ban on lifetime limits and rescission of coverage to all existing health plans within six months.
Would extend the ban on exclusion based on medical condition and annual limits to all employer-sponsored health plans by 2014.
Limits the amount insurers can charge older adults compared to what they charge younger adults to a 3:1 ratio.
Senate Bill
People with pre-existing conditions who have been turned down for health insurance could sign up for a high-risk insurance pool that would be available within 90 days and remain available until 2014. Within six months, insurers would be prohibited from denying coverage to children based on pre-existing medical conditions, from placing lifetime dollar limits on coverage and from rescinding coverage when a person becomes sick or disabled. The ban on exclusion based on pre-existing conditions would be extended to every one when the exchanges are operational in 2014.
Premiums for older people cannot be more than three times the premium for young adults.
Insurers competing in the new exchanges would be required to justify rate increases and those who raise prices excessively could be barred from the exchanges.
Insurers would be required to spend more of their premium revenues — between 80 to 85 cents of every dollar — on medical claims. According to a recent Senate Commerce Committee analysis, the largest for-profit insurance companies spend about 74 cents out of every dollar on medical care in the individual market.
Reconciliation Bill
Would extend the ban on lifetime limits and rescission of coverage to all existing health plans within six months.
Would extend the ban on exclusion based on medical condition and annual limits to all employer-sponsored health plans by 2014.
