Do you feel overwhelmed when you start looking at all the various Health Care Exchange Organizations? Let us break it down for you and take some of the pressure off you.
In 1965, after 20 years of debate, President Lyndon B. Johnson signed into law legislation introducing Medicare and Medicaid as part of the Great Society Legislation.
Various pieces of legislation have been introduced since 1996, including the Consolidated Omnibus Budget Reconciliation Act (COBRA) and the Health Insurance Portability and Accountability Act (HIPAA) that provide health insurance protection for some employees when they leave their jobs.
The Patient Protection and Affordable Care Act of 2010, often referred to as Obamacare, includes:
►The Affordable Care Act for America
►The Patient Protection Law
►Health care-related sections of the Health Care and Education Reconciliation Act and the Student Aid and Fiscal Responsibility Act
Since it was signed into law, additional rules and regulations on the Patient Protection and Affordable Care Act have been expanded to the United States. The Affordable Care Act rules regarding HSCMs are described in ACA Section 1501/5000A(d)(2)(B) (starting on page 148).
Although HCSMs are not health insurance and do not count as minimum essential coverage under the ACA, the law exempted HCSM members from the ACA requirement that individuals maintain minimum basic coverage. The individual mandated penalty waivers are no longer necessary because the ACA penalty for not having insurance coverage has been reduced to $0 as of 2019.
Impact Health Sharing is a non-profit organization, not a large corporation, and that only affects the way membership for Healthcare Sharing works. Healthcare Sharing organizations facilitate the sharing of health care costs between individual members who have common ethical and religious beliefs. Our members are motivated by savings, not profit.
Impact saves you money because it's a community that leverages its purchasing power to lower costs for all members.
►How does the Impact Healthcare Sharing membership work to share health care when you go to the doctor?
An Impact membership saves you money by deducting your medical bills, and Impact processes bills in the order they are received. When you have a doctor's appointment, present your Impact member card and ask the provider to bill Impact using the information on the back of your member card.
Virtual doctor visits are not only free with an Impact membership, but are also available anytime, anywhere. No more late-night trips to the ER or taking your well children to your sick child's doctor's appointment. With Telehealth, you can talk to a doctor without leaving your home and quickly order prescriptions.
Visits for serious problems at an urgent care center can cost around $130 or more on average, and the average visit to the emergency room costs at least $750. Telehealth can help you save cash, especially if you don't have the annual share amount.
Impact works hard for its members to ensure the highest level of care with cost savings. Here are some recent examples where Impact was able to use easily accessible data to manage costs.
►The hospital billed $1,299 (393% above fair market price) and Impact changed the price to $371.99 (113% above fair market price), which the provider agreed to.
►The vendor billed $1,846 (423% above fair market price) and Impact changed the price to $610.48 (140% above fair market price), which the vendor agreed to.
►The supplier invoiced $4,000 (281% above fair market price) and Impact changed the price to $1,705.05 (200% above fair market price), which the supplier accepted.
