Those with mental illnesses not only have to deal with the stress of their condition, but also must put up with reduced health coverage. Many insurers do not cover mental illnesses; those that do, often limit the amount of treatments or medication covered. In fact, those with mental disorders often receive far less coverage than do people with other serious illnesses such as cancer or heart disease. Fortunately, there are a couple of new laws that promise to change the way the insurance industry works for the better. These laws should ensure better mental health coverage than ever.The first law to watch is the Mental Health Parity and Addiction Equity Act. This law actually took effect this year. The law states that addiction and mental health coverage must be equal to that provided for other surgical and medical procedures. People who are used to paying higher deductibles will be thrilled to know how much money they can save. Unfortunately, this law does not require insurance plans to cover mental disorders. Insurance companies are also free to limit or exclude certain disorders as they see fit. The Mental Health Parity and Addiction Equity Act went into effect this July.The previous law does not cover individual health insurance plans or employer-sponsored plans that cover less than 50 people. The health-care reform law fills in some of these coverage gaps, however. After 2014, all plans sold through state insurance exchanges will be required to offer addiction and mental health coverage equal to the plan’s other benefits. These plans will be offered to individuals and small businesses. Many consider this new law to be a huge step forward, but we will have to wait a few years to see the full effects.Before these new laws were passed, people with mental health or addiction problems had to suffer high deductibles, treatment limits, and high premiums while receiving less coverage. The reform affects people across the country who want better mental health coverage. The government has also offered a slew of grants to mental health care facilities all over the United States. Many people believe that by increasing the quality of mental health care for all ages, more people will seek treatment when they need it. The future looks very bright for people who suffer with psychological disorders. Whether these new laws provide enough benefit remains to be seen.If you need assistance in locating particular coverages at a pre-determined price, we can help you save up to 50% on your health insurance.
Many insurance policies do not provide adequate coverage for mental disorders such as schizophrenia, ADHD, and anxiety disorders. Many people do not seem to realize that treating anxiety disorders requires both medication and frequent visits to the psychiatrist. The cost of treatment adds up over time, becoming a crushing burden if health insurance does not provide financial assistance. Unfortunately, even when health insurance plans offer mental health coverage, they often charge higher deductibles and severely limit treatment. This makes it difficult for those with mental disorders to get the treatment they need. Fortunately, it is only a matter of time before insurance providers will be required to provide basic coverage for anxiety disorders.Insurers realize that mental disorders often require lifetime treatment. This makes them somewhat reluctant to cover the cost of medication. From a business perspective, insurance companies believe that covering mental disorders will make them lose money. While this might be true, it makes the lives of people with mental health disorders difficult. Many insurance companies compensate for potential losses by requiring higher premiums and deductibles. They hope that by severely limiting the amount of mental health coverage they provide, people with mental disorders will not file an excessive amount of claims.The Mental Health Parity and Addiction Equity Act passed two years ago addresses some of these concerns. The act requires insurers to provide mental health coverage benefits equal to those provided for other medical conditions. In other words, this law will do away with excessively high deductibles and low treatment caps. Unfortunately, this law only applies to group health plans and businesses with more than 50 employees. It also does not require health insurers to provide basic coverage for mental disorders. It is a significant step in health care reform, however.The Patient Protection and Affordable Care Act that was passed this year should further decrease the gap between mental health coverage and coverage of other types of conditions and medical procedures. This act, among many other things, states that insurances plans sold through state exchanges must provide a basic level of coverage for mental disorders. This law applies to small businesses and individual plans. The law will go into effect in 2014. This will greatly increase the scope of insurance coverage and will provide insurance to an additional 32 million Americans. Although these laws increase coverage for anxiety disorders and other mental health problems, there is still a long way to go before everyone with a disorder can receive adequate care.If you need assistance in locating particular coverages at a pre-determined price, we can help you save up to 50% on your health insurance.