Today some aspects of the health reform will go into affect. Here is an overview of some of the changes that we will see in health insurance regulation.

These changes are for new and Grandfathered Health Plans:

A Grandfathered Plan is any insurance policy that was purchased and active before March 23, 2010. The policy will have a "Grandfather status." Plans can lose their Grandfather status if they change certain benefits. If you have a Grandfathered plan, and you like it, you can keep it.

* No lifetime benefit limits – no limit on maximum dollar amount of lifetime coverage. No longer will your healthcare be depleted because of the cost within the lifetime of your coverage.

* Restricted annual limits for essential benefits- Under the new health reform law, the restricted annual limits on the cost of essential benefits are intended to ensure that individuals will have access to needed services with a minimal impact on premiums.

* No rescission (in coverage) except for fraud or intentional misrepresentation. The interim rules define a rescission as a retroactive cancellation or discontinuation of coverage, and they apply to both new and grandfathered plans. This is added protection from having your insurance canceled.

* Children covered up to age 26 on the family policy.

* No exclusion for pre-existing condition for covered individual younger than 19.

*****Internet portel for consumer and small business shopping. http://www.healthcare.gov

Changes below are in addition to the above changes and are for new and Non-grandfathered plans:

* Emergency services at in-network cost with no authorization.

* No cost-sharing for preventative services. Certain recommended preventive services, immunizations, and screenings will be covered 100% by the insurance company.

These changes are good and are added protection for consumers and policyholders. But with the added benefits how will it change the cost of premiums? The anticipated increase is excepted to be between 1-2%. However, some insurance companies are stating that it will be more like 3-5% increase in premium costs. The big question is with insurance premiums already so high that it’s beyond the average person’s budget, how will the added benefits with increased premium costs make things better?