From the Washington Post:
The Healing of America: A Global Quest for Better, Cheaper, and Fairer Health Care
How the health-care overhaul impacts your wallet
Like it or not, it's here -- a major health-care law with all its moving parts, some that become effective immediately and others not until 2014.
The March Kaiser Health Tracking Poll found that 46 percent of Americans back the health reform proposals while 42 percent opposed them. The remaining 12 percent said they weren't sure what to think.
So what now? Now that all the screaming, yelling and name-calling is hopefully behind us, what does it really mean for you and me?
Signed into law this week, health-care reform will eventually provide coverage for more than 32 million people who are currently uninsured. Among many other provisions, insurers will be prohibited from denying coverage to people with preexisting medical conditions. People will be eligible for tax credits to help pay premiums, and a dependent child will now be allowed to stay on his or her parent's health insurance until age 26.
The Post has created a very useful interactive tool to help you figure out how the new law will apply to your own health care situation. It looks at what your health coverage and taxes will be based on your income, family size and current insurance status. So for example, let's say you are married, have income of $50,000 a year and you don't have any health insurance. You are a family of four. If you plug that information in, here's what you get back:
-- Beginning in 2014, you will receive tax credits to help afford insurance premiums in the new exchanges as well as assistance with deductibles and co-payments.
-- According to your income and family size, the tax credits will ensure you do not spend more than $3,150 to $4,025 on premiums.
-- Your maximum out-of-pocket costs for deductibles and co-payments would be capped at 27 percent of the total cost.
-- You are required to have health insurance. If you don't, you will pay a tax penalty of the greater of $695 per year up to a maximum of three times that amount ($2,085) per family or 2.5 percent of your household income.
To plug in your own information, click here. Want more reading?
Sick: The Untold Story of America's Health Care Crisis---and the People Who Pay the Price
Cured! The Insider's Handbook for Health Care Reform
The Innovator's Prescription: A Disruptive Solution for Health Care
And in more economic news...
Living Together But Not Loving It
Johnnie Taylor sang it's "Cheaper to Keep Her," but in this economy, that applies to both spouses. With the recent economic mudslide affecting everything from employment to home values, many estranged couples have postponed divorce because they simply can't afford it.
"In the Great Recession, breaking up is hard to do," reports Donna St. George in Estranged spouses increasingly waiting out downturn to divorce.
W. Bradford Wilcox, director of the National Marriage Project at the University of Virginia, says some families are pulling together amid the economic turmoil, and others that want to split up are postponing until they see a rebound in the economy and in home values.
Why is it cheaper to stay? A divorce that ends up in court can cost $10,000 to $20,000 or more, St. George reports. Maybe some of the couples delaying divorce will find ways to reconcile, saving not just their marriage but also a lot of dough.
Divorce and Money: Everything You Need to Know
A Judge's Guide to Divorce: Uncommon Advice from the Bench
We The People's Guide to Divorce: A Do-It-Yourself Guide to Reaching an Agreement with Your Spouse and Getting a Hassle-Free Divorce
Dollars & Sense of Divorce
I need to read more about the health care bill that just passed, so thanks for the links. I also liked the Washington Post link that allows you to put in your individual information and see how the bill is likely to affect you. Thanks!
ReplyDelete