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Posts Tagged ‘Affordable Care Act’

Ready for a 255% premium hike?

Monday, March 2nd, 2015

Benefits Pro reports:

“Supreme Court ruling killing PPACA subsidies may cause premiums to skyrocket.

If the U.S. Supreme Court rules that federal subsidies under the Patient Protection and Affordable Care Act are invalid, 7.5 million Americans could face an average premium increase of 255 percent this year. And some could face an increase as much as 779 percent.

That’s the dire warning from consulting firm Avalere Health on the impact that the King vs. Burwell case could have on consumers. Arguments in the case begin March 4.

Avalere said 87 percent of federal exchange customers receive a subsidy. Therefore, the firm said killing the subsidies would cause “average monthly premium contributions for enrollees” to potentially increase “between 122 percent and 774 percent, depending on the state.” Residents in Alaska and Mississippi would see the highest percentage increases in their premium contributions, if the court rules in favor of the plaintiffs.

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The Next ACA Battle: Extending The Children’s Health Insurance Program

Monday, March 2nd, 2015

Forbes reports:

“The Affordable Care Act is an endless source of tortured political maneuverings.

Another example will soon demand Congress’ attention: Extending the Children’s Health Insurance Program (CHIP).   The program was created in 1997, in the aftermath of the failed Clinton health reform initiative, to provide health coverage for pregnant women and uninsured children in families that make too much to qualify for Medicaid. Congress votes regularly to extend this joint federal-state program.

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New CMS rules boost consumer protections in exchange plans

Friday, February 27th, 2015

Modern Healthcare Reports:

“The CMS Friday issued final market rules for 2016 (PDF) for the state and federal insurance exchanges. The regulations include stronger requirements for insurers to provide accessible, reliable information about provider networks and drug formularies so that exchange customers can make informed choices.

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Even U of C Medicine and Rush have health insurance problems

Friday, February 27th, 2015

Crain’s Chicago Business reports:

“Proving that no one is immune to the changes sweeping the health care industry, two of Chicago’s most prestigious teaching hospitals are being dinged by insurance companies trying to control costs.

Humana is ending a 20-year relationship with University of Chicago Medicine, which will be eliminated from the insurer’s networks April 1.

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Staples threatens to fire employees who work more than 25 hours a week

Thursday, February 26th, 2015

Yahoo Finance reports:

“Wikimedia Commons A Staples storefront. Part-time Staples workers are furious that they could be fired for working more than 25 hours a week.

The company implemented the policy to avoid paying benefits under the Affordable Care Act, reports Sapna Maheshwari at Buzzfeed. The healthcare law mandates that workers with more than 30 hours a week receive healthcare.

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Insured, but Not Covered

Tuesday, February 10th, 2015

The New York Times reports:

“WHEN Karen Pineman of Manhattan received notice that her longtime health insurance policy didn’t comply with the Affordable Care Act’s requirements, she gamely set about shopping for a new policy through the public marketplace. After all, she’d supported President Obama and the act as a matter of principle.

Ms. Pineman, who is self-employed, accepted that she’d have to pay higher premiums for a plan with a narrower provider network and no out-of-network coverage. She accepted that she’d have to pay out of pocket to see her primary care physician, who didn’t participate. She even accepted having co-pays of nearly $1,800 to have a cast put on her ankle in an emergency room after she broke it while playing tennis.

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Medical Debt Still a Problem Under Health Law — Despite Protections

Tuesday, February 10th, 2015

Kaiser Health News reports:

“Elizabeth and Britt Harmon struggled for years to have a child, and were thrilled when their son Orin was born in February 2013. But they were unprepared for the medical problems that then upended the Brooksville, Maine couple’s lives.

Orin was born with pulmonary stenosis, a heart condition, and severe asthma.  He required constant care, including frequent trips to the hospital and medications that cost hundreds of dollars. The Harmons had insurance through Britt’s job at a plumbing company, but it covered “maybe half” of their child’s medical expenses, Elizabeth said.

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Government Blinks Again on Obamacare

Tuesday, February 10th, 2015

Bloomberg View reports:

“If you got health insurance subsidies last year, and you’re worried that you got too much in federal tax credits and will be faced with a huge tax bill for repayment, then you can worry a little less: The IRS says that people who are liable for repayment (“clawback”) of excess subsidies won’t have to pay by April 15.

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Health Care Penalties In 2015: How To Avoid Obamacare Fee And Report Insurance Status To IRS

Tuesday, January 13th, 2015

International Business Times reports:

“Millions of Americans who forwent buying health insurance in 2014 could face penalties in the coming year, the first such fees since open enrollment under the Affordable Care Act, or Obamacare, began in October 2013. The fine is part of President Barack Obama’s landmark law that requires all taxpayers to divulge their health insurance status to the Internal Revenue Service when filing their federal income tax returns. People who qualify for an exemption can avoid paying the penalty, but there is a little bit of extra paperwork involved.

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Obamacare-Created Insurer Goes Under, Is Taken Over By The State

Tuesday, January 13th, 2015

The Daily Caller reports:

“An Obamacare-created and taxpayer-funded insurance company in Iowa has been taken over by the state due to a financial crisis.

CoOportunity Health is Iowa’s insurance cooperative — a nonprofit insurance company created by the Affordable Care Act to supposedly undercut the large, for-profit insurers that Democrats castigated as “greedy” and “evil” during the debate over health care reform.

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