With the recent passage of the federal bailout of the financial industry, a groundbreaking piece of legislation was passed that will significantly affect mental healthcare in the U.S. This bill stipulates that mental health conditions must receive the same insurance coverage as physical health conditions. Thus, treatment for schizophrenia or OCD will not be covered with different annual limits, co-payments, and deductibles than those for, say, arthritis.
This legislation became necessary because health insurance companies in the past 15 years have found it profitable to limit coverage for mental health services, and because existing laws did not prohibit such a practice. Individual states had passed legislation in recent years to prohibit this practice on a statewide basis. Timothy’s law in New York is one example, but other states have [Read more…]