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What does the new healthcare law mean for consumers?

Posted On Tue, March 30, 2010

Now that President Barack Obama has signed into law the sweeping healthcare reform bill, some are asking how the changes will affect them.

There are currently 32 million uninsured Americans and while some aspects of the law won't take effect until 2014, other benefits can be seen more quickly.

These include insurance industry restrictions, protections for consumers with health insurance, advantages for Medicare recipients and assistance for young adults. Ninety days after passage of the healthcare bill, new coverage will be made available for consumers who lost health insurance and don't qualify for an individual policy.

“The basic thrust of this law is that all of these nooks and crannies, all these gaps where private insurance has left you without any option, those are going to be taken away,” DeAnn Friedholm, the campaign director of health reform for Consumers Union, the nonprofit publisher of Consumer Reports told the New York Times.

The healthcare reform bill was signed into law by Obama on Tuesday, March 23. The package of changes made to the healthcare bill has been passed by Congress and is expected to be signed into law shortly.ADNFCR-2297-ID-19698054-ADNFCR

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