The new Health Law, what will it do?

Immediate benefits:

• Insurance companies are prohibited to impose annual or lifetime caps.
• US$5 billion funds are pledged to provide temporary coverage for uninsured individuals with pre-existing conditions.
• Children can stay on their parents’ health insurance until they turn 26.
• Drug discount for seniors.

By 2014:

• All US residents is required to have health insurance, or face a fine of up to US$95 or 1% of their annual income in 2014, gradually increase to US$695 or 2.5% of their annual income.
• A health insurance exchange will help small businesses negotiate with insurance companies.
• Medicaid expansion and tax break for families.

By 2019:

• Expand medical insurance coverage to 32 million.

Source: CNN. See more details here and here.