A lot of discussion has taken place regarding ways in which the new healthcare reform passed into law will affect the wealthy, people on Medicaid and Medicare, and the uninsured but now, how will healthcare coverage changes for the employed be seen. Although millions of people have lost jobs over the past two years because of the struggling economy, for those with jobs and people that will again become employed, it is important to understand these changes.

In this article, we wanted to address this issue of healthcare changes for affluent families to determine what, if any impact there will be. When looking at the details of the new healthcare reform that was just signed into law by President Obama does appear to attack economic inequality. With the number of wealthy people on the rise over the past 30 years, you can imagine the concerns this has raised.

One of the changes seen has to do with employed parents. Prior to the bill being passed, adult children could only stay covered on the parent’s insurance until age 18 or 21 if in college full-time. However, with the new law, adult children can now remain on the parent’s policy until age 26. Obviously, this would help in many situations, especially children finishing out college.
The truth is that for anyone making more than $250,000 a year, a large portion of the money needed for this new healthcare bill comes from them. This means that healthcare changes for affluent families will be specific to payroll taxes.

For instance, look at pretax income. Since the latter part of the 1970s, the wealthy have been hit hard by paying high pretax rates but if you were to look at the tax rates, these have declined more than rates associated with middle-income and poor families. In Obama’s own words, the new healthcare bill would “mark a new season in America” but for whom.

Now, healthcare coverage changes for the employed, specifically to those in business for themselves and small businesses will start in 2014. At that time, people who are self-employed and with employees that do not have insurance coverage would have the opportunity to choose a plan through an insurance exchange. This means that some 25 million people would not have the chance to purchase insurance coverage and 60 would qualify for assistance with the premiums.

Without doubt, the healthcare changes for affluent families are a big issue. To most people with money, they feel that the penalty for having or building wealth is unbalanced. Now, while it would have been nice to see healthcare changes for affluent families fairer, the other side is that households making less than four times the current poverty level, which equals $88,200 for an average family (four people), subsidies would be available, along with the opportunity to be provided with Medicaid coverage, something that would have been impossible before.

One of the healthcare changes for the uninsured that everyone is having trouble with is the fines. If a person refused to purchase health insurance, an annual penalty of $95 would be due in the year 2014. However, probably one of the best changes that came out of President Obama’s new bill is that people with pre-existing conditions cannot be denied coverage.

All of these new healthcare regulations will go into effect starting 2014 for adults but for children, they start six months to the day that the new Healthcare Reform Coverage was signed.

The Healthcare GDP: Healthcare is Now One-Sixth of US GDP see howPennsylvania Health Insurance Plans are affected

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