“There has been no shortage of attention focused on the scheduled expiration of tax cuts for middle class and wealthy Americans at the end of this year. That’s likely to continue to be the case through the election and a potential lame duck session of Congress following it.
Posts Tagged ‘Costs’
“Most Illinoisans without health insurance coverage know very little about the federal health care overhaul and how it might help them. It’s Brian Gorman’s challenge to make sure they learn.
Gorman, 38, a former campaign organizer for President Barack Obama, has been hired by Gov. Pat Quinn to increase the number of Illinois residents with insurance by telling them about features of Obama’s sweeping overhaul.
Within months, Gorman plans to roll out a campaign featuring TV ads, radio spots, tweets and billboards – possibly featuring sports teams – to promote a so-called “culture of coverage” and urge people without insurance to sign up.
“One of the ways in which the Affordable Care Act helps bring down costs for small employers is through the tax credit available to eligible small businesses that provide health care insurance to their employees. The credit significantly offsets the cost of providing insurance and with the 2012 tax filing deadline fast approaching, you don’t want to let this valuable tax break pass you by. Here’s what you need to know about eligibility and how to claim the credit:
“Employers offering high-priced benefit plans to their workers may soon find themselves on a bumpy ride, thanks to the “Cadillac” tax.
According to the Medical Plan Trends Report, produced by benefit-management firm HighRoads and the member-advisory people at CEB, about 16 percent of plans are on track to incur the tax, charged on plans with annual premiums exceeding $10,200 for individuals or $27,500 for a family.
“Tina Nanos’ life was bogged down by her weight for years.
“I thought about it. I was overweight for a very large portion of my life,” said Nanos, who lives in Wallingford with her husband and two children, 13 and 5.
But when her weight “skyrocketed” after having her second son, so much so that sitting in an airplane seat and even walking were uncomfortable, she still didn’t change.
Then her employer and health insurer, UnitedHealthcare, offered her a cash incentive. She shed 101 pounds in two years and saved $1,200 on her annual premium.
“Heading into the final stages before implementation of his health care overhaul, President Obama is facing growing concerns among young Americans who will absorb the largest spike in medical costs under the sweeping law.
Obama championed his signature legislative achievement on college campuses and to twentysomethings during his re-election campaign. But he focused on Obamacare’s most popular provision — allowing students to stay on their parents’ insurance plans until the age of 26 — not the higher costs incurred by younger Americans to bring down the price of insurance for seniors.
“Now that the 2012 presidential election is in our rear-view mirror, the Affordable Care Act (aka “Obamacare”) looks like it’s here to stay. With it comes an interesting decision for chief executive officers to make by 2014: Should your company keep its current health care plan, or opt out and allow employees to enter into consumer-directed health care exchanges?
Certainly, there is much at stake for C-level executives when it comes to health care reform and health care coverage in general. According to a 2012 study from Towers Watson, in 2013 the average cost of health benefits per employee will stand at $11,507, a 5% increase from 2012.
“Some families could get priced out of health insurance due to what’s being called a glitch in President Barack Obama’s overhaul law.
IRS regulations issued Wednesday disappointed liberal backers of the president’s plan, who had hoped for a fix.
Starting in January, the law will provide millions of uninsured working families with subsidies to buy private insurance. But it also says that in some cases families with job-based coverage can’t get those subsidies.
The problem is the way the law defined affordable.
What counts is self-only coverage offered to the individual worker, not his or her family. Family coverage typically costs much more. So if the employer isn’t willing to chip in for premiums, some families will be out of luck.
And the health care overhaul won’t help them either.”
“Health insurance premiums have been rising-and consumers will experience another series of price shocks later this year when some see their premiums skyrocket thanks to the Affordable Care Act, aka ObamaCare.
The reason: The congressional Democrats who crafted the legislation ignored virtually every actuarial principle governing rational insurance pricing. Premiums will soon reflect that disregard-indeed, premiums are already reflecting it.