ObamaCare’s impact on health costs.
“The Affordable Care Act’s (ACA) Employer Shared Responsibility provision, commonly referred to as the Employer Mandate, requires all employers with 50 employees, or 50 Full Time Equivalents (FTEs), to provide health insurance coverage beginning in 2014. Similar to the law’s individual mandate to carry health insurance, noncompliance carries a fine, levied to help offset the cost of providing insurance coverage in the ACA’s state based insurance exchanges.”
“My mother is not one to seek attention by complaining, so her recent woeful Facebook post caught my eye: “The poor get poorer.” It diverged from the more customary stream of inspirational quotes, recipes and snapshots from her tiny cottage in Pierce County, Wash. The post continued: “I just received a notice: ‘In order to comply with the new healthcare law, your current health plan will be discontinued on December 31, 2013.'”
“Data provided to the committee by every insurance provider in the health care law’s Federally Facilitated Marketplace (FFM) shows that, as of April 15, 2014, only 67 percent of individuals and families that had selected a health plan in the federally facilitated marketplace had paid their first month’s premium and therefore completed the enrollment process.”
“Just more than a quarter of the eight million people who signed up for health plans under the Affordable Care Act are in the prized demographic of 18 to 34 years old, falling short of the figure considered ideal to keep down policy prices.”
“Hispanics, a key demographic for the Affordable Care Act, did not appear to sign up for health insurance through the law’s marketplaces at the rate the Obama administration had hoped, according to new government data.”
“Almost two-thirds of the 8 million Americans who enrolled in health insurance through the Affordable Care Act picked mid-range “silver” plans, according to new data on sign-ups released Thursday by the Department of Health and Human Services Department.”
“Even if Obamacare really has enrolled 8 million Americans through its health insurance exchanges, that’s not good enough. For the exchanges to work, people must enroll and stay enrolled.
If too many enrollees drop out, premiums will climb until the exchanges collapse.”
“Around two-thirds of people who had picked insurance plans through HealthCare.gov paid their first month’s premium by April 15, according to a report released Wednesday by Republican lawmakers using data from insurers.”
“With the unveiling of the Affordable Care Act’s website, the public experienced a painful reminder of the consequences of the government’s new authority over health care. While millions signed up for insurance, millions of others abruptly lost their existing coverage and access to their doctors because that coverage didn’t fit new ObamaCare definitions.”
“I must have missed the fine print.
That thought repeatedly ran through my head last October as I read the letter from my insurance company. It informed that my family’s health plan will be canceled effective December 2014—and Obamacare is to blame.”