(Updated 5:28pm) Some business leaders in Florence County learned more about the Healthcare Reform Act on Wednesday. They attended a summit held as part of the Chamber of Commerce "Lunch and Learn" series.
Jim O'Loughlin is the CEO of Carolinas Hospital System. "We think it's a good opportunity to really educate the community on what is happening with the legislature. There is a lot of misinformation out there, so we're presenting the facts."
A panel of six experts connected to the healthcare field talked about the reform act signed into law in March. Last week, some healthcare changes went into effect, primarily dealing with insurance companies, like the fact that parents can maintain their children in the policy until age 26. That's unless the child has coverage through his or her employer.
Another change immediately impacts children under 19 years old with pre-existing conditions. Insurance companies can no longer cancel policies written for children with pre-existing conditions. Adults with pre-existing conditions will be guaranteed coverage, under the Healthcare Reform Act beginning in 2014.
The new law will expand coverage to almost 500,000 of the 760,000 South Carolinians who are uninsured. That's a relief to hospitals who treat the uninsured in the emergency room.
A representative from Blue Cross Blue Shield was also at the summit. They say because insurers are being asked to expand benefits, you can expect to see an increase in your premiums.
New healthcare changes also provide tax credits to small businesses that buy health insurance for employees.
