A significant benefit of the Affordable Care Act is the opportunity to receive money-saving tax credits up front to cut the overall cost of health insurance, but now hundreds of thousands of consumers could owe back some of that money next April.
The Affordable Care Act—also known as Obamacare—is "not an affordable product" for many people and it does not fix the underlying problems causing high health-care costs, Aetna Chairman and CEO Mark Bertolini told CNBC on Wednesday.
"If we're going to fix health care, we've got to get at the delivery of care and the cost of care," Bertolini said in a "Squawk Box" interview. "The ACA does none of that. The only person who's really going to drive that is the consumer and the decisions they make."
People with serious pre-existing diseases, precisely those the president aimed to help with ObamaCare, could find themselves paying for expensive drug treatments with no help from the health care exchanges.
Those with expensive diseases such as lupus or multiple sclerosis face something called a "closed drug formulary."
NEW YORK (MainStreet) — More than half of Americans (55%) still do not know the deadline to sign up for health insurance under the Affordable Care Act is March 31, according to a new Bankrate.com report.
The survey found that 24% incorrectly think the deadline already passed on Jan. 1 while 11% wrongly think they have until December 31, 2014 to sign up, a full nine months after the March 31, 2014 deadline.
Many Americans are not taking the deadline to sign up for Obamacare seriously. More than three in five (62%) of Americans think the government will push the deadline back to a later date.
"For information about how Health care Reform affects you or your small business, call John Caris at 707-935-6294 x103 or Contact him."
Barack Obama wanted to change American health care as we know it. And he is, in ways that go far beyond the goals of the Affordable Care Act.
For weeks, headlines have cataloged the upheaval at private employers: UPS dropping coverage for employed spouses, IBM reworking retiree benefits. Yesterday came the biggest change: Walgreen Co. (WAG), the largest U.S. drugstore chain, told 160,000 workers they must buy insurance through a private exchange rather than having the company arrange their coverage.
"Insurers in California's new health insurance exchange are holding down premiums by limiting choices, raising concerns that patients will struggle to get care."
"As Health Care Reform implementation ramps up, I'm getting more questions about what people should do. Basically, it will come down to price and benefits of the different options. Up til now, there has been very little pricing information, however, over these next few weeks, more pricing information should become available.
Here are some common health care reform scenarios:
· Your Employer Offers Insurance If you are full time, you will likely continue getting insurance this way. However, your plan options may change at open enrollment in 2014.
· You Sponsor a Small Group Health Plan Employers will continue to be able to sponsor a group plan through either a government subsidized 'SHOP' Exchange or through conventional small group market plans. Consider taking advantage of your carrier's Early Renewal option for December 1st to lock in current rates and plan designs.
"Source: Laissez Faire Today http://lfb.org/today/"
"What do you think is more expensive: your Social Security number or your medical records? While some people guard their Social Security numbers like the vault combination to their lives, they sell for only $1 on the black market. Your medical records, on the other hand, are 50 times more valuable.
More often than not, once these online thieves get their hands on these online records, they can access the person's most private information. This includes their Social Security number. But that's only the beginning. They can use their records to order prescription drugs online, obtain medical care, and submit fraudulent insurance claims to the government. The opportunities presented go beyond just opening a couple of credit cards in your name.
Anthem Blue Cross continues to sell to consumers and small business through insurance agents. Even though Anthem Blue Cross has decided to not participate in the government run small business insurance exchange, known as 'SHOP', they will continue to be the number one carrier in California, selling their plans through independent agent and on the individual subsidized exchanges.
For information about Health Care Reform and to discuss how it affects you, please call John Caris at 707-935-6294 x103 or Contact him.
In the past week, the U.S. Department of Health & Human Services, the Treasury Department, and the Obama Administration have announced two important changes to the implementation of the Affordable Care Act (ACA).
1. Employer Mandate Postponed: The ACA requirement for employers with at least 50 full-time employees to provide health coverage is now scheduled to take effect in January of 2015 instead of 2014. While some experts say the one-year delay of the employer mandate probably won't have a huge impact on health reform implementation (because a majority of 50+ employers already offer health coverage), the postponement does give the Treasury Department and employers more time to work out the necessary coverage reporting requirements.
2. Coverage and Income Verification Delayed: The government also announced it will move to an "honor system" in 2014 for coverage and income verification. States operating marketplaces (i.e., exchanges) will not be required to confirm a consumer's statement that he or she does not have employer-sponsored coverage, nor will states have to verify reported income, which determines a person's eligibility for a premium subsidy. Income verification has been postponed until 2015. However, consumers who misrepresent their income on the application for exchange coverage are subject to a penalty of up to $25,000.
Source: CHOICE Administrators
For personalized answers to your questions regarding healthcare reform, call John Caris at 707 935 6294 x103 or Contact him.
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