Obamacare and Insurance Premiums

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Posted 11/15/2012 by lovetodigi in NSBR Board
 

lovetodigi
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Posted: 11/15/2012 8:36:34 AM
So Obamacare has been blamed by many for huge increases in insurance premiums this year. Looks like it is actually having the opposite effect.

2012 health care cost increases lowest in six years

U.S. companies and their employees saw the lowest health care premium rate increases in six years over the past year, according to an analysis by Aon Hewitt.

Aon Hewitt, a global human resources business of London-based Aon plc, said in the report that the average health care premium rate increase for large employers in 2012 was 4.9 percent, down from 8.5 percent in 2011 and 6.2 percent in 2010.

In Milwaukee, the average increase was 5.2 percent in 2012, down from 7 percent in 2010.

A press release states that in 2013, however, average health care premium increases are projected to jump nationwide up to 6.3 percent and the average health care costs per employee are projected to rise to $11,188. Consistent with the previous two years, employees will be asked to contribute 21 percent of the total health care premium, which equates to $2,385 for 2013.

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Posted: 11/15/2012 8:44:15 AM
I know that the cost of the new health care for Mr. AB's small company, just over 50, doesn't kick in until 2013. The stats she's using are for 2012, unless I'm misreading.

Also, so far his company has never charged his employees an insur. cost share. Because they cannot negotiate a better deal, they've historically had excellent rates on a top notch health plan because they're relatively healthy, the coverage would go down and rates increase just shy of 40%.

Between that and the economy, the company is scaling back (laying off), to maintain a smaller work force to hit the appropriate numbers.


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Posted: 11/15/2012 8:45:15 AM
Our group insurance premiums at school are going up just under one percent for next year, which is great. The insurance guy explained to the school board last night that the rate of increase is a function of several factors, one of which is the recent history of claims within a group. We had no claims over $25,000 so that helped.

peasalad
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Posted: 11/15/2012 9:04:59 AM
I live in the Milwaukee area and our insurance premiums are going up $4000 in 2013 so yes, I am very worried.

mightyme
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Posted: 11/15/2012 9:30:33 AM
Ours are employee paid, so i dont have a comment there. But my families have gone up every year.

liasmommy2000
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Posted: 11/15/2012 9:53:27 AM
All I know is mine have gone up every year for about six or seven years. A couple of those were significant. This year was the smallest in about four years. I know in 2006/2007 my employer started a big initiative to look into what could be done to keep premiums down.


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Posted: 11/15/2012 9:56:05 AM
I haven't heard of many increases in premiums working the industry. However, nearly all clients have increased their out of pockets and deductibles which are post tax to accommodate and cost the employee.

The trend I am seeing is many are keeping all costs for employee only coverages the same or lowest increases from last year. However the increases are being accommodated into the coverages elected for plans members elect that include their dependents.

blondiek237
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Posted: 11/15/2012 9:57:15 AM
Insurance premiums go up every year just like everything else--they always have BUT I still do not see how Obamacare is going to fix anything. Yes everyone will have to buy insurance, but what if you can't afford it and you do not qualify for help? Premiums will continue to go up, care will not get any better. Its great that pre-exisiting conditions will be covered, but at what cost?? I am in a fairly good sized group at work so I can't see an exchange being that much different costwise.

peapermint
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Posted: 11/15/2012 9:58:44 AM
Ours have gone up a little each year for 20 years.


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eebud
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Posted: 11/15/2012 10:00:14 AM
The companies cost are definitely increasing more than usual; however, at least for 2013, they are going to pick up almost all of the increase so my premiums will not go up much. We will pay for it one way or another though. We'll see what our annual raise will be in January. I won't be surprised if they are either nonexistent or very low.





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Posted: 11/15/2012 10:05:05 AM
Part of the reason some healthcare plans have gone down, or only raised slightly is the enforcement of the part of the Healthcare Act, that states plans have to use premiums to actually cover patient costs, and not just "management costs".

I think they have to now use 80% of the employee's funds for actual coverage, and can now only use 20% for management costs. Prior to this many plans charged a much higher management fee. Which is why some people received rebates from their healthcare plans last year.


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Posted: 11/15/2012 10:06:14 AM
I don't think the full effects will be seen until it kicks into action. I do expect health care to be a hot mess once that happens, though.

I'm honestly not sure what would've happened to our premiums in 2012. We added 3 kids to our policy and the rates sky rocketed because of that. I didn't look into what would've happened if w hadn't added them.

DH was told at work to expect an increase after the first of the year due to obamacare though. no word if coverage will change.



PEArfect
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Posted: 11/15/2012 10:20:14 AM
Our insurance premiums are going up, unfortunately. This is the largest increase we've seen in the past 14 years.


Jen


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Posted: 11/15/2012 10:23:10 AM
Our small business will no longer pay for it's employee premiums.



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Iowa_girl
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Posted: 11/15/2012 10:29:59 AM

Our small business will no longer pay for it's employee premiums.


Will you have to in 2014? Is that one of the ObamaCare mandates? I can't imagine how bad that will hurt small business.

We are self employed and our premiums are crazy. We pay approx. $600/month for our policy. Our deductible is over $5000- nothing is covered until we hit that $5,000 mark - no prescriptions or anything. No copay - it is all our of our pocket until $5,000 - which we have never met yet - thank god!

Susie Pea
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Posted: 11/15/2012 10:34:25 AM

Ours has gone up 15-20% each of the past 3 years.


Same here. Our copays have gone up drastically as well. The coverage is worse too.

Luvspaper
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Posted: 11/15/2012 10:35:20 AM
The big changes will come in 2014, not now. Your HR dept and employer are glad this years haven't seen the large increase yet (ours was 9.6% and only because we are still grandfathered...otherwise we would have seen 14.6% increase).

Again in 2014, the minimum requirements on coverage to be acceptable under Obamacare change drastically. Both in increases in who and what HAS to be covered and in lowering what the employee can pay in premiums and in copays/deductibles and out of pockets.

It especially hurts the companies with less than 200, because it is not worthwhile to "self-insure" the risk because it is not spread over enough people.

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Posted: 11/15/2012 10:40:46 AM
Studies can say whatever they want. My reality is as a self-employed couple with no employees, our insurance went up this year (renewed in October) by 45% - and we made no claims in the previous year.

I don't care if it is Obamacare or any other cause, it is unreasonable. However, with no claims this year, I do suspect Obamacare.


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Posted: 11/15/2012 10:55:33 AM

Our small business will no longer pay for it's employee premiums.


Will you have to in 2014? Is that one of the ObamaCare mandates? I can't imagine how bad that will hurt small business.


Because we employ less than 50 people, my understanding is no. It is a benefit that we provide now, but that will more than likely cease because of increasing insurance premiums and rising tax implications.

ETA: Actually, I think I'm wrong here....I believe employers are required by the insurance company to pay at least a portion of the employee's premium. If those costs are ridiculous, then we'll dump the plan altogether and our family will provide for itself.



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Posted: 11/15/2012 12:15:35 PM

ETA: Actually, I think I'm wrong here....I believe employers are required by the insurance company to pay at least a portion of the employee's premium. If those costs are ridiculous, then we'll dump the plan altogether and our family will provide for itself.


Our state has a statute that says an insurance carriers can require an employer to pay a % of the cost of the health insurance plan. This statute has been in effect long before the ACA, since at least the mid 90's. It doesn't specify the %, or even say they have to, but just states that the carrier can require it. And most carriers who sell to small groups do require employers to chip in some.


Kelly

peapermint
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Posted: 11/15/2012 12:23:33 PM

It is a benefit that we provide now, but that will more than likely cease because of increasing insurance premiums and rising tax implications.



Not being snarky, but I'm wondering if:

1. Are business owners who are making this move worried that their employees will quit?

2. If the result of ending the benefit ends up being a net savings to the employer, will the employees get a corresponding raise?

jenjie
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Posted: 11/15/2012 12:40:32 PM
DH works for the county. Beginning January, dh and everybody that works his facility will begin to pay a percentage of their health insurance for the first time, even though it's a contracted benefit. This was a Chris Christie move. DH is not happy, as it constitutes a big pay cut.

I was chatting with a woman in line at Walmart today. She actually works at Walmart part time. She said she went to work specifically because her dh's boss, after paying all health benefits for 25 years, stopped "because of Obamacare".


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Posted: 11/15/2012 12:51:44 PM
Our insurance is remaining the same and we haven't had an increase in about 10 years. We pay $34 a month for our family of 6 and that includes dental and vision.We have a $100 annual deductible for medical, $200 annually for a family. After that we have a 10% copay for everything medical, except well visits and immunizations that are covered at 100%. Vision we pay $15 for an annual exam and the insurance covers the first $150 of the cost for glasses. Anything over that we are responsible for. Dental we have a $50 annual deductible then everything is covered at 70%. Prescriptions are a $10 copay for generics, $30 for brand name.

I recently had surgery. My out of pocket expenses were $185.



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Posted: 11/15/2012 12:56:02 PM
Oh I forgot to add, mental health services are also covered at 90% and we are not limited to any certain number of visits annually.



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Posted: 11/15/2012 12:57:20 PM
My premiums are going down $800; I now have a $500 deductible. That's waived if I complete a wellness survey. Office co-pays went down to $15; specialty co-pays stay at $25. Overall, for our health needs, I expect that I'll save money this year compared to the last five years.


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Posted: 11/15/2012 1:15:10 PM
Ours were set to go up slightly in 2013. We did the math on how often we go to the doctor (yearly checkups only) and switched to the high deductible plan for next year. We'll likely come out way ahead of what we did this year. Even when we crunched the numbers to see what would happen with an unlucky medical issue if it came up (a broken bone, a trip to the ER, etc.), because of the way the high deductible plan is structured, it comes out 6 of one, half dozen of the other.

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Posted: 11/15/2012 1:17:49 PM

ETA: Actually, I think I'm wrong here....I believe employers are required by the insurance company to pay at least a portion of the employee's premium. If those costs are ridiculous, then we'll dump the plan altogether and our family will provide for itself.


Our state has a statute that says an insurance carriers can require an employer to pay a % of the cost of the health insurance plan. This statute has been in effect long before the ACA, since at least the mid 90's. It doesn't specify the %, or even say they have to, but just states that the carrier can require it. And most carriers who sell to small groups do require employers to chip in some.


Sorry...I didn't mean to imply that this is anything new. I just remembered it as I was typing.


It is a benefit that we provide now, but that will more than likely cease because of increasing insurance premiums and rising tax implications.


Not being snarky, but I'm wondering if:

1. Are business owners who are making this move worried that their employees will quit?

2. If the result of ending the benefit ends up being a net savings to the employer, will the employees get a corresponding raise?


No snark taken... We don't want to lose employees, but we'd also like to continue employing all of the people we already have. We will be paying more on the corporate end and then again on the personal end. Cuts will have to be made to offset some of it.

I'm not sure at this point what we will be able to do to offset the additional expense that our employees will incur. Time will tell.



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Posted: 11/15/2012 1:27:38 PM
Insurance premiums for next year have remained the same at my workplace and DH's.



AthenainCA
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Posted: 11/15/2012 2:33:10 PM
We'll see what happens to premiums when the excise taxes based on an insurance company's market share kick in come January 1, 2014.


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Posted: 11/15/2012 2:43:16 PM

We are self employed and our premiums are crazy. We pay approx. $600/month for our policy. Our deductible is over $5000- nothing is covered until we hit that $5,000 mark - no prescriptions or anything. No copay - it is all our of our pocket until $5,000


So you would have to spend over $12500 each year before the insurance became any sort of benefit. That's $6/hr, IF you work full-time, for just this one expense. And we've elected a President who is requiring us to do this. WTH? SMH

Ginajo15
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Posted: 11/15/2012 2:47:53 PM
As soon as Obamacare passed, my insurance premiums went up. I now pay an additional $2500 out of pocket, and my employer expects that will go up even more next year. I guess I am lucky to still have a job.(Some jobs within my company have already been eliminated.)

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Posted: 11/15/2012 3:04:22 PM
Our premium stayed the same, no change in benefits and the company is increasing their contribution to our HSA by 50%. Also, they're depositing the full amount into our account in January rather than spreading it out over the entire year.

So, definitely no increase for us.


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Posted: 11/15/2012 3:23:14 PM
Ours went up less than $30 per month for 2013 and we have the highest level plan of the three choices so we have really good coverage and a low deductible, with no charge for annual exams and a small co-pay for office visits. It also includes prescription, vision and dental.




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Posted: 11/15/2012 3:36:41 PM
Our premiums went up.

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Posted: 11/15/2012 3:44:49 PM

So you would have to spend over $12500 each year before the insurance became any sort of benefit


So, basically - yes. Worst case scenario.

Our yearly premium is over $7,000 a year. We pay everything up to $5,000 on our deductable - so it would be possible to pay over $12,000. We are also in the "low risk" group, since we have very few claims.

But... we are able to use the premium and all health care bills as deductions on our taxes. So there is a little give and take.

We recently switched providers because our old premiums were much higher. We thought about going to a $10,000 deductable, but it did not lower the premiums significantly.

This coverage does not include dental, mental, or vision - so you folks with the amazing insurance plans that cost you little - HANG ON TO THOSE and hope to heavens your employer does not go belly up. You may not have any idea how great it is until it is gone!!


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Posted: 11/15/2012 3:46:01 PM
Nothing has changed for me. I work for a large company and they've always offered multiple plans. I'm in a PPO plan that is $39 per month for medical, vision, and dental. Because I don't pay health care premiumus, I do have a higher deductible/out of pocket max.



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Posted: 11/15/2012 8:28:29 PM
Ours went up only $20 a month.


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Posted: 11/15/2012 9:16:36 PM
Mine went up $22.00 a month from 0 to 22 for a family of 4. But my employer puts 1500 into my HSA if I do the same. Also we get a $50.00 bonus every quater for completing an online wellness activity. My deductible is $3000.00 but the out of pocket max is $6000 and that includes medication so I am not complaining at all.




Casii
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Posted: 11/15/2012 9:18:19 PM
Ours has gone up a bit every year for the past several years. What seems to be changing for us this next year is some of the benefits in our plan are being reduced or cut.


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Posted: 11/15/2012 9:23:12 PM
My husband's plan required that we paid $125 more a month this past year.


bestcee
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Posted: 11/15/2012 9:59:00 PM
I don't know how our plan will change (we go June-May instead of Jan-Dec) completely. I do know my FSA amount will go down (2500 instead of 3600). Based on what the benefits person is saying, our contribution will be going up, and our overall benefits will be going down. Our deductible will be increasing, and we are possibly losing our dental. These changes are all related to Obamacare. In fact, the FSA was written in as law - regardless of how many dependents you have, which is a total crock. Seriously, the single guys at work will be getting the same FSA amount as the families now.

As far as the OP, I wouldn't expect to see a ton of change to the 2012 plans. It's 2013, just like you stated in the OP, and 2014 that have the biggest changes.



Consistent with the previous two years, employees will be asked to contribute 21 percent of the total health care premium, which equates to $2,385 for 2013.


I'd love to know where these numbers come from. It's not quoted in the original article. Dare I assume that it's based on a single employee, no dependents? And in what state? Because unless the government is going to cover the premiums for all the children, and non-working spouses I bet health care contributions are more than $2,385. And $198.75/month sounds pretty cheap compared to any health plan I've paid for.


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Posted: 11/15/2012 10:16:10 PM

Its great that pre-exisiting conditions will be covered, but at what cost??


This is my biggest question, and I have yet to see any kind of answer.


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Posted: 11/15/2012 10:24:14 PM
Here is what I don't understand, according to the Affordable Healthcare Act:

HOLDING INSURANCE COMPANIES ACCOUNTABLE
Bringing Down Health Care Premiums. To ensure premium dollars are spent primarily on health care, the law generally requires that at least 85% of all premium dollars collected by insurance companies for large employer plans are spent on health care services and health care quality improvement. For plans sold to individuals and small employers, at least 80% of the premium must be spent on benefits and quality improvement. If insurance companies do not meet these goals, because their administrative costs or profits are too high, they must provide rebates to consumers. Effective January 1, 2011. Fact Sheet: Getting Your Money's Worth on Health Insurance.


So on the polices that are going up, shouldn't the benefits be expanding also according to this law, otherwise the providers have to issue rebates to their clients. Am I reading this wrong?
Healthcare Act

So my question for those that plans are going up drastically, do you work for a large company, small company or own your own business? You don't have to answer, I'm just curious, and trying to figure out how this works.


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Posted: 11/15/2012 10:35:03 PM
Also I don't understand why many plans would be affected by the Healthcare Act this year, since as far as I can find these are the only new laws starting in 2013.

2013
IMPROVING QUALITY AND LOWERING COSTS


Improving Preventive Health Coverage. To expand the number of Americans receiving preventive care, the law provides new funding to state Medicaid programs that choose to cover preventive services for patients at little or no cost. Effective January 1, 2013. Learn more about the law and preventive care.
Expanding Authority to Bundle Payments. The law establishes a national pilot program to encourage hospitals, doctors, and other providers to work together to improve the coordination and quality of patient care. Under payment bundling, hospitals, doctors, and providers are paid a flat rate for an episode of care rather than the current fragmented system where each service or test or bundles of items or services are billed separately to Medicare. For example, instead of a surgical procedure generating multiple claims from multiple providers, the entire team is compensated with a bundled payment that provides incentives to deliver health care services more efficiently while maintaining or improving quality of care. It aligns the incentives of those delivering care, and savings are shared between providers and the Medicare program. Effective no later than January 1, 2013.
INCREASING ACCESS TO AFFORDABLE CARE

Increasing Medicaid Payments for Primary Care Doctors. As Medicaid programs and providers prepare to cover more patients in 2014, the Act requires states to pay primary care physicians no less than 100% of Medicare payment rates in 2013 and 2014 for primary care services. The increase is fully funded by the federal government. Effective January 1, 2013. Learn how the law supports and strengthens primary care providers.
Providing Additional Funding for the Children's Health Insurance Program. Under the law, states will receive two more years of funding to continue coverage for children not eligible for Medicaid. Effective October 1, 2013. Learn more about CHIP.


2013 Healthcare Act

Most everything I see changing involves Medicare, and not private insurers.


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StuckOnPeas

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Posted: 11/15/2012 10:52:54 PM
Here is what is supposed to go into effect in 2014, for the person who was asking about pre-existing conditions.

2014
NEW CONSUMER PROTECTIONS
Prohibiting Discrimination Due to Pre-Existing Conditions or Gender. The law implements strong reforms that prohibit insurance companies from refusing to sell coverage or renew policies because of an individuals pre-existing conditions. Also, in the individual and small group market, the law eliminates the ability of insurance companies to charge higher rates due to gender or health status. Effective January 1, 2014. Learn more about protecting Americans with pre-existing conditions.
Eliminating Annual Limits on Insurance Coverage. The law prohibits new plans and existing group plans from imposing annual dollar limits on the amount of coverage an individual may receive. Effective January 1, 2014. Learn how the law will phase out annual limits by 2014.
Ensuring Coverage for Individuals Participating in Clinical Trials. Insurers will be prohibited from dropping or limiting coverage because an individual chooses to participate in a clinical trial. Applies to all clinical trials that treat cancer or other life-threatening diseases. Effective January 1, 2014.

IMPROVING QUALITY AND LOWERING COSTS

Making Care More Affordable. Tax credits to make it easier for the middle class to afford insurance will become available for people with income between 100% and 400% of the poverty line who are not eligible for other affordable coverage. (In 2010, 400% of the poverty line comes out to about $43,000 for an individual or $88,000 for a family of four.) The tax credit is advanceable, so it can lower your premium payments each month, rather than making you wait for tax time. Its also refundable, so even moderate-income families can receive the full benefit of the credit. These individuals may also qualify for reduced cost-sharing (co-payments, co-insurance, and deductibles). Effective January 1, 2014. Learn how the law will make care more affordable in 2014.
Establishing Affordable Insurance Exchanges. Starting in 2014 if your employer doesnt offer insurance, you will be able to buy it directly in an Affordable Insurance Exchange. An Exchange is a new transparent and competitive insurance marketplace where individuals and small businesses can buy affordable and qualified health benefit plans. Exchanges will offer you a choice of health plans that meet certain benefits and cost standards. Starting in 2014, Members of Congress will be getting their health care insurance through Exchanges, and you will be able buy your insurance through Exchanges too. Effective January 1, 2014. Learn more about Exchanges.

Increasing the Small Business Tax Credit. The law implements the second phase of the small business tax credit for qualified small businesses and small non-profit organizations. In this phase, the credit is up to 50% of the employers contribution to provide health insurance for employees. There is also up to a 35% credit for small non-profit organizations. Effective January 1, 2014. Learn more about the small business tax credit.

INCREASING ACCESS TO AFFORDABLE CARE

Increasing Access to Medicaid. Americans who earn less than 133% of the poverty level (approximately $14,000 for an individual and $29,000 for a family of four) will be eligible to enroll in Medicaid. States will receive 100% federal funding for the first three years to support this expanded coverage, phasing to 90% federal funding in subsequent years. Effective January 1, 2014. Learn more about Medicaid.
Promoting Individual Responsibility. Under the law, most individuals who can afford it will be required to obtain basic health insurance coverage or pay a fee to help offset the costs of caring for uninsured Americans. If affordable coverage is not available to an individual, he or she will be eligible for an exemption. Effective January 1, 2014. Learn more about individual responsibility and the law.


2014 Healthcare Act, just scroll down


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bestcee
PeaAddict

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Posted: 11/15/2012 11:15:13 PM

Also I don't understand why many plans would be affected by the Healthcare Act this year, since as far as I can find these are the only new laws starting in 2013.


My plan has to change because it will be effective past the Jan. 1, 2014 deadline. I would assume there are other plans that aren't Jan 1, 2013 - Dec 31, 2013 and they would have to be cover the 2014 changes. Oh, and the company is about 200-250 employees.

My guess on the changes is because the insurance companies are preparing for the pre-existing conditions:


The law implements strong reforms that prohibit insurance companies from refusing to sell coverage or renew policies because of an individual’s pre-existing conditions. Also, in the individual and small group market, the law eliminates the ability of insurance companies to charge higher rates due to gender or health status. Effective January 1, 2014.


For example, there's a pea who mentioned in another thread that she is charged an additional premium based on her weight. If she's in the individual and small group market, they can't do that after this year(2013). So, instead you raise the plan this year (2013) in preparation. Plus, you might scare a few businesses/individuals with big pre-existing conditions into going elsewhere.

If I knew there was a freeze on raising prices for milk in 2014, I would raise the price in 2013 in preparation. I can anticipate what my costs will be, and account for the freeze now.


Courtney
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look4angel
StuckOnPeas

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Posted: 11/15/2012 11:34:51 PM
If I knew there was a freeze on raising prices for milk in 2014, I would raise the price in 2013 in preparation. I can anticipate what my costs will be, and account for the freeze now.


HOLDING INSURANCE COMPANIES ACCOUNTABLE
Bringing Down Health Care Premiums. To ensure premium dollars are spent primarily on health care, the law generally requires that at least 85% of all premium dollars collected by insurance companies for large employer plans are spent on health care services and health care quality improvement. For plans sold to individuals and small employers, at least 80% of the premium must be spent on benefits and quality improvement. If insurance companies do not meet these goals, because their administrative costs or profits are too high, they must provide rebates to consumers. Effective January 1, 2011. Fact Sheet: Getting Your Money's Worth on Health Insurance.

But according to that logic wouldn't the above law make them increase services if they increased premiums for this year? I'm not trying to be snarky, I'm just trying to figure out how they are getting away with it. Or are you including the Pre-existing clause in this upgrade? And if so, wouldn't they have to begin that service this year, when the premiums rose?


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Anna*Banana
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Posted: 11/16/2012 7:36:33 AM

Its great that pre-exisiting conditions will be covered, but at what cost??


I think the cost is to those who have had good rates because of their less use or cost to the system/insurance. Historically they've been able to negotiate better rates; easier as a group than an individual but still doable if working with an independent ins broker.

Those individuals or groups who have been paying higher rates because of more use or higher risks would not see much of a rise, or even a decrease because the rates are being spread out across.

That's the very simplistic explanation given to me from HR person who is working with their ins broker.

Can no one understand the frustration to those who have purposefully managed their own care to keep rates low? You can't understand that some small businesses will buckle and even collapse under the strain in this terrible economy????


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Sharon1117
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Posted: 11/16/2012 7:58:07 AM
Our insurance is going up $200 per month in January!





bestcee
PeaAddict

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Posted: 11/16/2012 10:28:18 AM

HOLDING INSURANCE COMPANIES ACCOUNTABLE
Bringing Down Health Care Premiums. To ensure premium dollars are spent primarily on health care, the law generally requires that at least 85% of all premium dollars collected by insurance companies for large employer plans are spent on health care services and health care quality improvement. For plans sold to individuals and small employers, at least 80% of the premium must be spent on benefits and quality improvement. If insurance companies do not meet these goals, because their administrative costs or profits are too high, they must provide rebates to consumers. Effective January 1, 2011. Fact Sheet: Getting Your Money's Worth on Health Insurance.

But according to that logic wouldn't the above law make them increase services if they increased premiums for this year? I'm not trying to be snarky, I'm just trying to figure out how they are getting away with it. Or are you including the Pre-existing clause in this upgrade? And if so, wouldn't they have to begin that service this year, when the premiums rose?


I don't know anything about this statement. But I'm concerned by the use of the phrase "the law generally requires". Also, I'm wondering if some companies were operating on smaller admin budgets and can now increase the amount being spent on admin costs?

I don't know the answer to your question. I just know that over and over I keep seeing people say their insurance costs are going up, not down.


Courtney
Yes, I can spell. No, my Kindle can't.
Just my humble opinion. And no, I wasn't being mean.
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