How the new health reform bill will affect young professionals

The new health care reform bill passed by the House of Representatives on Sunday is due to be signed into law by President Obama today. The bill will have immediate effects on health care reform and other effects that won’t materialize until 2014. Many young professionals and recent college graduates are struggling for jobs or benefits and wonder how the bill will affect them of health care law.

The comprehensive health care reform bill was written by the George Washington University School of Public Health and Health Services and is over 2,000 pages long. The bill’s official name is the Affordable Care and Patient Protection Act, HR 3590, and it will affect young professionals in the following ways:

* The bill stipulates that children of legal age can remain dependent on their parents’ insurance until age 26

* Men and women cannot be denied health insurance due to pre-existing conditions (more details on this below)

* Most employees will keep their job-provided coverage

* If you’re unemployed, have an internship, or your job doesn’t cover you, by 2014 everyone will be required to buy health care coverage with a penalty if they’re not covered (there are exceptions for financial reasons). hardship, religious beliefs, and certain groups such as American Indians)

* Insurers cannot charge women or people with pre-existing conditions more for their coverage

* Coverage will be portable, even if you leave a job

The health care reform bill will affect the majority of Americans (there is more on the bill that revolves around Medicare/Medicaid), but these specific qualities of the bill will have a significant impact on young professionals. These provisions provide security for recent graduates who are having trouble finding careers in this economy. Being able to stay as a dependent until age 26 and not letting insurers turn you down for pre-existing conditions is a huge benefit in finding coverage for young professionals whose jobs don’t provide benefits.

The fine print with pre-existing conditions part of the health care bill involves the creation of a temporary high-risk pool. This group will provide coverage for people with pre-existing medical conditions until the new law takes effect in 2014. As noted above, some of these laws will not take effect right away.

General:

* If you are a young professional whose job provides health insurance, your coverage will basically remain the same.

* If you have difficulty finding a job right after college, you may still be covered by your parents’ insurance until you find a job with benefits.

* If you have a job but are not receiving benefits, this bill allows for easier access to health insurance without worrying about the preconceived notions and bureaucracy that many insurers used to put in place.