The Wall Street Journal
The Affordable Care Act, signed by President Obama five years ago this week, sparked a host of changes. For some workers, the law’s legacy amounts to fewer hours of paid work.
The law’s requirement that larger employers provide affordable insurance to workers putting in 30-plus hour weeks has led some companies to cap the number of hours employees can log. A new survey out Tuesday from the Society for Human Resource Management finds that 14% of employers have cut back on hours for part-time employees, and an additional 6% plan to do so. The survey, which included more than 740 human resources professionals, found that a small subset of companies were considering reducing hours for full-time employees too.
Firms are playing around with how they classify and schedule workers, but the strategy comes with risk.
Kaiser Family Foundation
Half of the people who received ACA subsidies in 2014 will owe money to the government because they underestimated their incomes when applying for coverage and got too large a monthly premium credit, according to an analysis released by the Kaiser Family Foundation today. Nearly as many people — 45 percent of individuals with subsidies — overestimated incomes last year and received too small a tax credit every month, Kaiser found. Individuals at the lower-income end of this population will be more likely to owe money (54 percent) than to get any back (40 percent). They also will have lower repayment or refund amounts on average than subsidy-eligible people with higher incomes. Overall, the average repayment will be $794, while the average refund will be $773, Kaiser calculated. These findings spell trouble as many people who received subsidies might not know that they could end up owing back a portion.
ObamaCare is celebrating its fifth anniversary, but few Americas are cheering.
The Real Clear Politics average of the latest major opinion polls about the health law shows that 52.5% oppose it and only 42% approve. The 10.5% spread is identical to the average of polls taken when the law was signed five years ago. Approval numbers never have topped disapproval numbers since the law was enacted. It is not getting more popular and it is not settled law, as President Obama claims.
President Obama is touting the increased number of people who have health insurance as a result of the law. According to Gallup, the uninsured rate among U.S. adults averaged 12.9% in the fourth quarter of last year.
Five years after President Obama signed the Affordable Care Act, the White House claims the law is working even better than imagined, but one of its leading critics says every major promise is now proven untrue and costs will keep going higher and higher unless we change course.
On March 23, 2010, President Obama signed the landmark Patient Protection and Affordable Care Act, also known as Obamacare, into law. It happened after a fierce debate on the House floor just a few days earlier and a controversial move by Senate Democratic leaders to pass changes by a simple majority since they did not have the votes to do it through regular order.
The law took full effect in 2014, following a disastrous roll-out of the federal health-care exchange website in October 2013.
The Brookings Institute
The Affordable Care Act (ACA), like President Clinton’s health plan in the 1990s, made the mistake of trying to achieve coast-to-coast health care coverage with a system that essentially looks the same everywhere. That approach was always going to be a challenge. US health care is an enormous and complex economy in its own right. If the US health system were a separate national economy, for instance, it would be the fifth largest economy in the world – larger than the entire economy of France or of Britain. The idea that a single piece of legislation could successfully reorganize the world’s fifth largest economy was a fantasy, especially when the bill had to go through the congressional sausage-making machine.
It’s true that the ACA gave Americans a choice of plan on federal or state-run exchanges. But the ACA still sought a template for insurance rules, benefits and other structural features that would be the same from Vermont to Texas and Florida to Alaska. That was unwise.
The Heritage Foundation
Health care premiums are continuing to rise in 2015. While the pace of change has slowed since the dramatic increases of 2014, the savings promised under the Affordable Care Act (ACA) have still not materialized.
Measuring changes in premiums is an important element in understanding the impact of the ACA. In previous analysis, The Heritage Foundation determined that the new regulations and benefit mandates put in place through the ACA caused premiums to increase drastically in 2014, with average premiums increasing more than 50 percent in some states. This Issue Brief examines premium changes in 2015 and finds continued but slower premium growth, indicative of a market going through a sorting process.
For years now, Wall Street has cheered as Obamacare fuelled the stock prices of corporations in the healthcare industry. One of them was eHealth EHTH +0.96%, Inc. (NASDAQ: EHTH), an online health-insurance broker that was founded in 1997.
Obamacare – in case you need reminding – mandates the purchase of private health insurance for working-age Americans above a low income. Last April, The Motley Fool’s Keith Speights speculated that eHealth might have been “Obamacare’s biggest winner”:
The Washington Times
The IRS is blaming Obamacare for the agency’s poor customer service, with Commissioner John Koskinen telling Congress on Wednesday that he has had to take money away from answering phone calls and instead spend it on technology and personnel to carry out President Obama’s health care law.
Just 43 percent of taxpayers’ phone calls are being answered so far this year. Mr.
The Congressional Budget Office’s new report shows updated cost projections for the insurance coverage expansion in the Affordable Care Act. With the debate over the ACA remaining so intensely polarized, advocates moved aggressively to spin this routine update as reflecting favorably on the law. A front-page article in the Washington Post referred to the new findings as showing “savings,” quoting a supporter as saying, “I can’t see how people can continue to say . . . that Obamacare had no cost containment in it.” Such comments in the wake of CBO’s update are flawed interpretations of the new estimates and what they signify. The following explains what CBO has actually projected: basically that the ACA will do less to expand coverage than previously estimated.
A Bridge To Better Health Care
What Were the Top 5 Fails from 5 Years ofACA?
Here are some of the top actual practices of the ACA thatdiverge from what we were promised:
1. PolitiFact “Lie of the Year”: “If you like your health care plan, you can keep it.”
The Obama Administration and many Democratic members of Congress repeatedly assured Americans that “If you like your health care plan, you can keep it.” PolitiFact rated this the “Lie of the Year for 2013” after cancellation notices went out to 4 million people. (PolitiFact)
2. “If you like the doctor you have, you can keep your doctor, too.” Not.
In June 2009, President Obama said, “If you like the doctor you have, you can keep your doctor, too.” But nearly five years later, the president admitted that Americans might lose their doctors after all. (WebMD Exclusive Interview).