GirlsGuideTo | What the Health Care Ruling Means for Us

This morning, the U.S. Supreme Court has upheld the constitutionality of the Affordable Care Act passed in 2010. You will hear a lot of commentary from legal experts and politicians in the next few weeks about this decision, but this is not going to be about that. This is going to be about how it affects YOU personally. Young women are especially impacted by this ruling, and it’s important to be in the know, no matter what side of the political aisle you sit on. Now is the time to get familiar with what the health reform law really means to you -- while you still have it.

For Young Adults…
Millions of young adults up to age 26 who have gained health insurance due to the law will be able to keep it. The law requires insurers to cover the children of those they insure up to age 26. About 2.5 million young adults from age 19 to 25 obtained health coverage as a result of the Affordable Care Act, according to the U.S. Department of Health and Human Services.

We took an informal poll around the GGTo office and all of us were kicked off our parents' plans at 22 or 23, so this is a huge deal. Definitely take advantage of this if you can! And bonus: Two of the nation's largest insurers, United Healthcare and Humana, recently announced they would voluntarily maintain some aspects of health care reform, including coverage of adult dependents up to age 26, even if the law was scrapped.

For the Uninsured…
The decision leaves in place the so-called “individual mandate” -- the requirement on Americans to have or buy health insurance beginning in 2014 or face a penalty -- although many are exempt from that provision. This is probably the most controversial part of the ACA due to the penalty issue.

In 2014, the penalty will be $285 per family or 1% of income, whichever is greater. But health care exchanges, which are designed to offer cheaper health care plans so you can avoid the penalty, remain in place as well.

For the Insured…
Lucky you! Because the requirement remains for people to have or buy insurance, the revenue stream designed to help pay for the law remains in place. So insured Americans may be avoiding a spike in premiums that could have resulted if the high court had tossed out the individual mandate, but left other requirements on insurers in place. All in all, nothing will really change for you.

For Women with Pre-existing Conditions…
Since the law remains in place, the requirement that insurers cover people with pre-existing medical conditions remains active. The law also established that children under the age of 19 could no longer have limited benefits or be denied benefits because they had a pre-existing condition.

Starting in 2014, the law makes it illegal for any health insurance plan to use pre-existing conditions to exclude, limit or set unrealistic rates on coverage.

More than 13 million American non-elderly adults have been denied insurance specifically because of their medical conditions, according to the Commonwealth Fund. The Kaiser Family Foundation says 21% of people who apply for health insurance on their own get turned down, are charged a higher price, or offered a plan that excludes coverage for their pre-existing condition.

For the Self Employed with an Individual Insurance Policy…
Try to keep your policy if you can continue to afford it. Don't let it lag because if the Act is overturned, you will be on the streets again, trying to get coverage as an individual and potentially being turned down for pre-existing conditions. If not, keep it up until 2014 when you can research the health care exchanges.

For All Taxpayers…
No matter what the Supreme Court had decided, it would have been a mixed bag for all Americans when it comes to federal spending. There is heated dispute over what impact the health care law will have on the country over the long term.

The federal government is set to spend more than $1 trillion over the next decade to subsidize coverage and expand eligibility for Medicaid. The nonpartisan Congressional Budget Office estimated that the law could reduce deficits modestly in the first 10 years and then much more significantly in the second decade. The CBO said a repeal of the mandate could reduce deficits by $282 billion over 10 years, because the government would be subsidizing insurance for fewer people.

But the nation faces costs in various ways for having people who are uninsured. The Urban Institute's Health Policy Center estimated that without a mandate, 40 million Americans would remain uninsured.

Meanwhile, the Flexible Spending Accounts that millions of Americans use to save money tax-free for medical expenses will be sliced under the law. FSAs often allow people to put aside up to $5,000 pre-tax; as of 2013, they were to face an annual limit of $2,500.

For All Women…
There is sooo much in this law that will help you out if you look through all the provisions. Some examples: The massive health care law requires doctors to report goodies they get from medical supply companies; demands more breastfeeding rooms; requires all chain restaurants to list calories under every menu item, and provides some preventive services without co-pay. Oh, and insurance companies can’t charge you more because you’re a woman. Yeah, they’ve been doing that.

So no matter if you think this is a good or bad step forward for this country, take a few moments and educate yourself on the benefits for young women.

Do any of these reforms affect you personally? Share your thoughts (but please be kind to each other)!

{Reform details from CNN}