If you do not have a Grandfathered Plan, then why can’t you keep your current plan? Because starting 1/1/14, all plans must meet minimum coverage standards – These are called Essential Health Benefits.
If you do not have a plan that meets these standards, or if you don’t have a plan at all, then you’ll pay a penalty which is $95 per uninsured adult in the household (capped at $285 per household) or 1% of the household income, whichever is greater. The penalty will increase over the next several years.
Here is a brief look at what the compliant plans will look like. You’ll be able to see specific plans and pricing for Healthcare Reform here https://insurance-oc.com starting October 1, 2013.
Neil Steinman is the principal of Orange County Health & Life Insurance in Orange County, CA – and has been serving the needs of California residents for nearly 20 years.