BLOOMBERG: HEALTH CARE SUMMARY

Bloomberg reports on what will become law immediately now that President Obama has signed off on the controversial and recently-passed measure aimed at reforming the nation’s health care system.

The new law delays some aspects of the reform legislation for a number of years, and it also will require rules and regulations to be promulgated – a process that could be years in the making.

On the immediate front, it appears that insurers must cover children with pre-existing health problems within the first year of the legislation and let parents keep children on their insurance plans through age 26.

Insurers will also be banned from revoking coverage because of severe illness and from limiting lifetime or annual benefits.

But other provisions, such as Medicare reimbursement cuts, taxes on high-cost “Cadillac” health plans, and insurance exchanges will be years away from implementation. Some of these changes will be subject to years worth of regulation debate.

You can read more at this link.