The PPACA will require individual policies to cover 10 benefits, including hospitalizations, maternity care and prescription drugs. It will require insurers to cover at least 60 percent of medical costs, and cap out-of-pocket costs at about $6,400 annually, according to the report.
These requirements will cause millions of Americans to upgrade their policies: “Folks are going to have to buy more comprehensive policies, generally, in 2014,” Michael Weinberg, senior policy correspondent with the Bay Area Council, said in the report. In California alone, 2 million residents are estimated to have plans that will not meet PPACA requirements, and will have to purchase new plans or face financial penalties, according to the report.
More Articles on the PPACA:
Republicans Consider Connecting PPACA Delay to Debt Limit
Florida Officials Express Concern About PPACA Navigators
Poll: Most California Voters Unaware of PPACA Exchange
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