What will happen right away?
NO MORE ANNUAL OR LIFETIME CAPS
If you buy a policy, a health care company will not be able to place a cap on how much it will cover. This would be especially important for those diagnosed with serious illnesses, such as cancer, who face step medical bills.
HELP FOR THE UNINSURED WITH PRE-EXISTING CONDITIONS
There will be $5 billion set aside to provide temporary coverage to uninsured Americans with pre-existing conditions. The money will help those people until the new health care exchanges are put into effect in 2014.
COVERAGE FOR OLDER CHILDREN
Insurers will be required to provide coverage options for non-dependent children up to age 26. This will help recent graduates as well as young adults who are between jobs and uninsured.
DRUG DISCOUNT FOR SENIORS
Americans who fall into the Medicare PartD Drug Benefit coverage gap, also know as the "doughnut hole," will receive $250 to help pay for prescriptions. The coverage gap would be expected to narrow in 2011 as drug manufacturers discount brand-name drugs by 30%, and it would be expected to close in 2020 as all drugs are discounted by 75%.
What will happen in 2014? (click here)
You can read, review and/or download the whole document at archive.org (click here) and if you still need more information, please search it online. There are various discussions going on and outside the internet right now, some people defending it while others opposing the whole thing altogether (?taking it to court).
The following slide presentation will give you a collective overview of what's all about the health insurance.