Health Insurance: How Ya Doin'?

I recently had a conversation with my favorite Aunt who is in her mid-sixties, and she updated me on the "health insurance hell" she has recently been enduring. 

Her existing insurance provider, which she purchased on her own, out of pocket, decided to drop her.

She doesn't qualify for Medicaid.

She isn't ready to accept Social Security retirement yet, so she doesn't qualify for Medicare. 

So, her only option appears to be utilizing the state health insurance exchange.  Or, go without health insurance and face a penalty, which would be a risky move.

In the process she is required to get herself NOT qualified, so she has had to divulge all of her intimate financial information and prove she is in fact a citizen of the United States (with more copies of intimate information).  She has spent hours on the telephone, had several face to face meetings, not to mention making a mess of her important files (which adds more stress).  This has literally become a part time job for her because, of course, there are deadlines.

And she isn't even done yet. 

Her frustration oozes through to me and I don't know what to say, except to email her a link for a little bit of comic relief: 
http://www.theblaze.com/stories/2013/10/27/you-will-probably-want-to-see-this-saturday-night-live-skit-mocking-the-obamacare-website/

Employers and Obamacare: What it Means for You

Adapted from ObamaCare Survival Guide by Nick J. Tate

As the Affordable Health Care Act rolls out over the next year and beyond, we are finally learning the details of what ObamaCare means to working Americans.

First and foremost, the Internal Revenue Service (IRS) is the government agency that will oversee our new healthcare mandates. Employers are required to report to the IRS about each of their employees, and individuals will have to report to the IRS regarding health care insurance status.

Senior Citizens
It’s no secret that ObamaCare will be significantly funded by money cut from Medicare. The original projected cuts totaled $455 billion over the next decade. Since then, the Congressional Budget Office (CBO) has twice updated that figure. In 2011, the CBO’s estimated cuts were re-estimated to be $507 billion between 2012 and 2021. Then, in July 2012, the CBO projected Medicare outlays would be cut by about $716 billion between 2013 and 2022. That is $209 billion more in cuts than originally projected. However, ObamaCare does expand Medicare’s prescription drug coverage, and certain preventive care services. It also caps what insurers can charge older Americans.

Large Businesses - 25 or More Employees
From a cost perspective, ObamaCare has not been good for large companies as new mandates imposed on their health insurance providers have increased business operating costs. Many Americans are worried that ObamaCare will force their employer to drop their insurance since it may cost less for some businesses to simply pay the $2,000 fine per worker for not providing insurance. Some businesses need to offer benefits to attract workers, and some don't. If you work for a company that easily attracts workers, may be in greater danger of losing your coverage.
Also, large businesses will have to wait to be able to participate in health insurance exchanges, assuming it is granted to them at all. Each state will have to decide itself whether or not to let large businesses purchase insurance through its exchanges.

Small Businesses - 25 or Less Employees
These companies have suffered from rising healthcare costs in the past, but will benefit more from ObamaCare, especially in the short term. They will receive significant tax breaks and in 2014 they will have immediate access to health insurance through exchanges, unlike large businesses. However, if a small business exceeds 25 employees, they will receive no tax credits, and possibly no access to exchanges. For employees who work for small businesses with no insurance, ObamaCare is great news if their employer decides to take the generous tax credit. If small businesses do not participate, workers may be required to purchase insurance through a government-subsidized exchange, or face a fine.
Approximately 6% of businesses with employee payrolls are considered large businesses in America, yet over 175 million Americans work for a large business. Approximately 37 million Americans have no health insurance.

It is also interesting to note that fear of an acute doctor shortage, which existed prior to ObamaCare, may be exacerbated by the new law. With lower expected incomes and student loan debts that are the highest in the world, there could be far fewer doctors to provide health care.

Also Sourced: http://www.census.gov/econ/smallbus.html

Timeline of the Affordable Health Care Act

Do you ever wonder what the timeline is for the new Affordable Healthcare Act?


Well, here you go!

March 23, 2010 - The Affordable Care Act Becomes Law.

Effective Jan 1, 2010 - Providing Small Business Health Insurance Tax Credits.

April 1, 2010 - Allowing States to Cover More People on Medicaid.

Year of 2010 - Relief for 4 Million Seniors Who Hit the Medicare Prescription Drug “Donut Hole”.

Many Provisions Effective Now - Cracking Down on Health Care Fraud.

June 1, 2010 - Expanding Coverage for Early Retirees.

July 1, 2010 - Providing Access to Insurance for Uninsured Americans with Pre-Existing Conditions.

July 1, 2010 - Putting Information Online.

September 23, 2010

- Extending Coverage for Young Adults.

- Providing Free Preventative Care.

- Prohibiting Insurance Companies from

Rescinding Coverage.

- Appealing Insurance Company Deci-

sions.

- Eliminating Lifetime Limits on Insurance

Coverage.

- Regulating Annual Limits on Insurance

Coverage.

- Prohibiting Denying Coverage of Children Based on Pre-Existing Conditions.

Beginning in 2010 - Holding Insurance Companies Accountable for Unreasonable Rate Hikes.

Effective 2010 - Rebuilding the Primary Care Workforce.

October 2010 - Establishing Consumer Assistance Programs in the States.

Begins 2010 - Preventing Disease and Illness.

Effective 2010 - Strengthening Community Health Centers.

Effective 2010 - Payments for Rural Health Care Providers.

January 1, 2011

- Prescription Drug Discounts.

- Free Preventative Care for Seniors.

- Bringing Down Health Care Premiums.

- Addressing Overpayments to Big Insurance Companies and Strengthening Medicare Advantage.

- Improving Health Care Quality and Effi

ciency.

- Improving Care for Seniors after They

Leave the Hospital.

October 1, 2011

- New Innovations to Bring Down Costs.

- Increasing Access to Services at Home and in the Community.

January 1, 2012 - Encouraging Integrated Health Systems.

March 2012 - Understanding and Fighting Health Disparities.

October 1, 2012

- Reducing Paperwork and Administrative

Costs.

- Linking Payment to Quality Outcomes.

January 1, 2013

- Improving Preventative Health Coverage.

- Increasing Medicaid Payments to Pri

mary Care Doctors.

- Expanded Authority to Bundle Payments.

October 1, 2013 - Additional Funding for the Children’s Health Insurance Program.

January 1, 2014

- Establishing Affordable Insurance Ex

changes.

- Promoting Individual Responsibility.

- Ensuring Free Choice.

- Increasing Access to Medicaid.

- Makes Care More Affordable.

- Ensuring Coverage for Individuals Par

ticipating in Clinical Trials.

- Eliminating Annual Limits on Insurance

Coverage.

- No Discrimination Due to Pre-Existing

Conditions or Gender.

- Increasing Small Business Health Insur

ance Tax Credit.

January 1, 2015 - Paying Physicians Based on Value Not Volume.

Source: http://www.healthcare.gov/law/timeline/