Healthcare
With the recession still looming over America, many individuals and families continue to sacrifice their health insurance coverage. The economic stimulus plan will help Americans get the health insurance they need not only for themselves, but for their families.
Most people that work for medium to large size companies are able to keep their health coverage for 18 months under the COBRA (the Consolidated Omnibus Budget Reconciliation Act) program in the event they lose their job. COBRA applies to companies that have at least 20 employees. However COBRA is expensive. The individual is now responsible for not only their share of the premium, but for the share of the premium that was once covered by their employer. With the cost of COBRA being so high, only 9% of people eligible for COBRA actually take advantage of it.
In 2009 the government started a Cobra subsidy with a portion of the healthcare stimulus money. These benfits have been extended to cover the first 6 months of 2010. Thus, the government will pay 65% of the total cost of the COBRA costs for a total of 15 months.
The stimulus package health care spending includes:
- $89.7 billion to assist states in paying the costs of Medicaid. Medicaid provides medical care for the poor and disabled.
- $40 billion to extend health insurance coverage to unemployed workers through Medicaid and COBRA.
- $20.2 billion in Medicare and Medicaid incentives for physicians, hospitals and community health centers to adopt health information technology.
- $1.5 billion to community health centers, including money for uninsured care and facility renovations.
If you are looking for health insurance, it pays to shop around. Make sure to find a plan that will provide you with the coverage you need at a price you can afford. Take the time to do the research. Compare plans and prices with different companies till you find the plan that best suits your needs. You not only want the best price you can find, but the best coverage. It is always a good idea to be covered in case of an emergency. You always have the option to increase your coverage as your finances allow.
2010 will also be the year that sees renewed focus on community health care. More and more facilities are going in all around the country to help service Americans that don’t have insurance and have little-to-no access to a healthcare home. These community health centers, such as the Peak Vista located in Colorado, are funded by stimulus money. This particular facility serves more than 56,000 patients and staffs approximately 480 employees. So if you can’t afford health insurance this could be a viable alternative for you and your family. Check with your particular state to see what community healthcare centers are available to you.
And of course there are also health care grants that you could be eligible to receive. If you can’t afford health insurance, or have health expanses beyond your coverage then you could qualify for government money to help you with these expenses. This additional grant funding provided by the stimulus package is designed to help make health care more affordable for people who need assistance. Individuals can apply for a health care grant through one of the free grant kits available online.