Children's premiums on Obamacare compliant health insurance plans are going up dramatically in a few weeks. This we already knew. Some health insurance companies have already stopped taking child only health insurance applications and others will by this weekend. Some have put us on notice they will no longer quote ANY health insurance that includes children starting this weekend.
This moratorium will remain in place until the state Dept. of Insurance approves new plans and rates covering children.
Now word comes down that plans issued for effective dates of 9/23/2010 and later will have to comply with mental health parity. In simple terms, this means any psych benefits will be treated as any other illness under the major medical plan.
No more separate benefits for psych, including drug and alcohol treatment. No more annual caps on psych benefits.
Most health insurance companies already have parity as a rider. It is available at a higher price when requested at time of application.
Mental health parity riders currently increase the premium by 25% or more.
It is too early to tell how much of an impact parity will have when added to ALL plans issued on and after 9/23 but I expect it will be significant.
The hits just keep on coming.