“Now that Republicans will be taking control of the Senate, party leaders will get the chance to stage a full vote on the repeal of Obamacare, forcing either a Democratic filibuster or a presidential veto. Either way, it will be pure theater, since there’s no real chance of undoing the law as long as President Obama remains in office. But the results of Tuesday’s election will still have a real impact on the Affordable Care Act’s provisions for state-level Medicaid expansions.
Posts Tagged ‘Affordable Care Act’
“Midterm elections will be here next week, and the Patient Protection and Affordable Care Act is still on the minds of voters and candidates.
According to Kaiser Family Foundation, Democrats and Republicans are using PPACA to tell their stories in very different ways. Of GOP health care ads, 84 percent mentioned PPACA — and every ad cast the law in a negative light. Meanwhile, just 15 percent of Democratic ads on health care issues included messaging on the law.
So the big question is: What will happen to PPACA if Republicans take control of the Senate after next week’s election?
We asked some industry experts to weigh in and predict PPACA’s fate. Here’s what they said.
“The U.S. Department of Health & Human Services’ Administration for Children & Families’ Office of the Deputy Assistant Secretary and Interdepartmental Liaison for Early Childhood Development issued the following news: The Affordable Care Act (https://www.acf.hhs.gov/programs/ecd/child-health-development/affordable-care-act) is working to deliver affordability, access, and quality to millions of Americans across the country. To find the latest and most accurate information about the Marketplace visit HealthCare.gov. If you have health coverage through the Marketplace, it’s time to review your plan and decide if you need to make changes for 2015.
“Aetna shares took a hit Tuesday after the health-insurance giant said it expects medical costs to rise to the high end of its forecasts.
However, CEO Mark Bertolini told CNBC that while people may be worried that health-care costs will increase now that the economy is improving and will become an industry trend, he’s not.
“We look at this every month, and we’ve looked at the overall trends in the marketplace and trends are behaving,” Bertolini said in an interview with ” Closing Bell .”
“With as many as 1.8 million uninsured in Illinois, Blue Cross and Blue Shield of Illinois (BCBSIL) is mobilizing its resources across the state to help people better understand insurance coverage options and the financial benefits that may be available to them under the Affordable Care Act (ACA).
There’s four key points about this year’s open enrollment period that people need to be aware of:
For individual/family plans, what is included in household income for subsidy determination? How do I know what to state for my income to determine subsidies?
Household income includes incomes of the taxpayer, spouse, and dependents. In determining eligibility for exchange subsidies, income will be based on your attestation of your expected income in 2015 and will be verified by the exchange with documentation from your most recent tax return, with consideration of reasonable changes you expect. Exchanges will calculate enrollees’ household incomes using Modified Adjusted Gross Income, or MAGI. The MAGI calculation includes such income sources as wages, salary, foreign income, interest, dividends, and Social Security. MAGI calculation does not include income from gifts, inheritance and some other income sources are partially excluded. More information on MAGI is available here
“Tens of millions of Americans without health insurance risk being fined by the IRS as part of the Affordable Care Act, which imposes a tax penalty on those who didn’t purchase medical insurance. But tax experts say up to 20 million people are eligible for a waiver.
According to Inuit, maker of TurboTax, there are 30 reasons you may be exempt from the tax penalty if you don’t have health insurance. These are the top reasons for a tax exemption:
- Affordability . The lowest-priced health insurance available would cost more than 8 percent of your household income.
- Medical expenses . You had medical expenses you couldn’t afford to pay in the last 24 months, which resulted in significant debt.
- Cancellation . You had insurance that was canceled, and the other plans were unaffordable.
- Utility shut-off . You received a notice for shut-off from a utility company.
- Difficulty signing up . You had issues signing up through your state or federal marketplace.
“Wal-Mart Stores Inc. plans to eliminate health insurance coverage for some of its part-time U.S. employees in a move aimed at controlling rising health care costs of the nation’s largest private employer.
Wal-Mart told The Associated Press that starting Jan. 1, it will no longer offer health insurance to employees who work less than an average of 30 hours a week. The move affects 30,000 employees, or about 5 percent of Wal-Mart’s total part-time workforce, but comes after the company already had scaled back the number of part-time workers who were eligible for health insurance coverage since 2011.
“A federal district judge in Oklahoma dealt a blow to the Affordable Care Act on Tuesday, ruling that the federal government could not subsidize health insurance in three dozen states that refused to establish their own marketplaces. This appears to increase the likelihood that the Supreme Court will ultimately resolve the issue.
Federal appeals courts in Washington and in Richmond, Va., split on this question in July.
“Nearly one in four employers say they may move their employees toprivate exchanges within the next few years, but virtually none of them are considering public exchanges under the Patient Protection and Affordable Care Act, new analysis from consulting firm Towers Watson finds.
The firm’s Health Care Changes Ahead survey of 349 HR professionals at mid- and-large-sized companies found that 24 percent of those surveyed believe a private exchange will be a viable alternative for providing employee health benefits by 2016.