New healthcare laws set to take effect in 2014

With Democrats retaining control of the White House and the Senate, it would seem that The Affordable Healthcare Act aka Obamacare is here to stay. In 2014, certain provisions of the law are scheduled to begin taking effect. States are already beginning to set up marketplaces known as healthcare exchanges. States can either run a federally subsidized exchange or have the federal government run one for them. So far 17 states and the District of Columbia have opted to set up their own exchange, five states have indicated they want to partner with the federal government, and 20 have indicated they will allow the federal government to take the reins. All states have been given until December to decide how they will facilitate their respective healthcare exchange and until the middle of February of next year to tell the federal government if they wish to set up a market in collaboration with them. Websites for these exchanges should be open for enrollment October of next year. Regardless of what plan a given state adopts, all residents will have access to such a website and be able to enroll with it. Other changes will include the elimination of pre-existing condition restrictions and the narrowing of pricing based on age.