(Image: Zef Delgadillo under CC 3.0)
The sweeping healthcare bill is going to impact nearly all Americans. Some changes will take effect immediately, others will happen in 2014. Here are highlights of provisions that won’t impact people right away.
Health Insurance Exchanges will be created to make it easier for small businesses, uninsured and self employed to buy affordable health insurance. Once the insurance exchanges open health insurance companies will no longer be able to charge hike up the prices of premiums or deny sick people coverage.
Mandated Coverage will be implemented if the Senate approves the bill. Those who don’t get health insurance by 2014 will face a fine of $95 or 1 percent of their income whichever one is higher. The plan however exempts poorer families, and subsidies will be provided to families in need.
Medicaid Expansion will go into effect and will help childless adults living near poverty.
Tax breaks will be provided to families for healthcare depending on their annual income.