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"By January 1, 2009, you must have a plan that offers some key benefits. These benefits are what the Health Care Reform Law calls "Minimum Creditable Coverage". These benefits are set by the Health Connector. They are the minimum benefits expected for Massachusetts
adults. They will include:
1) Prescription drug coverage.
2) Visits to the doctor for preventative care, before a deductible.
3) Deductibles that are capped at $2,000 for an individual or $4,000 for a family each year.
4) An annual cap on out-of-pocket spending at $5,000 for an individual or $10,000 for a family
(for plans with up-front-deductibles or co-insurance.)
5) No cap on total benefits for a particular sickness or for a single year.
6) No cap on payment toward a day in the hospital."
*
Young Adult Plans for 19-26-year-olds,
high-deductible health savings accounts, Medicare plans with or without drug coverage
and insurance provided by religious organizations are exempt from these
rules.
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So,
if your present insurance doesn't meet these standards by the end of
2008,
you MUST upgrade, no matter whether you or your employer can afford it or not.
**If
these requirements are not met, you will be punished as having no insurance at all.
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