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Posts Tagged ‘Patient Protection’

PPACA helps delay Medicare insolvency

Friday, August 1st, 2014

Benefits Pro reports:

“The main trust fund behind Medicare, the $583 billion U.S. health program for the elderly and disabled, will be exhausted in 2030, four years later than projected last year, the government reported.

An improving economy and the health-care overhaul — the Patient Protection and Affordable Care Act — may stave off depletion of the fund as it took in more money and spent less than expected last year. The trust fund pays for hospital visits, nursing care and related services for Medicare’s 52 million beneficiaries. Its assets fell $7.1 billion in 2013 to $281 billion, less than one-third the reduction of a year earlier, according to a report released today by the program’s trustees.

(more…)

Undercover investigators score PPACA subsidies

Wednesday, July 30th, 2014

Benefits Pro reports:

“Undercover investigators using fake identities were able to get health insurance and tax subsidies through the federal exchange under the Patient Protection and Affordable Care Act, underscoring ongoing problems and security issues plaguing the health care law, officials said Wednesday.

The nonpartisan Government Accountability Office said they created 12 identities with fake citizenship and immigration statuses and phony income documents to test how easy (or difficult) it would be to get coverage and subsidies under the law.

(more…)

Final health care reform rule permits one-month orientation period

Tuesday, July 15th, 2014

Business Insurance reports:

“Employers are allowed to impose “orientation” periods of up to one month before a maximum 90-day waiting period on the start of health care coverage for new employees, under final health care law reform rules.The rules, issued Friday jointly by the U.S. departments of Health and Human Services, Labor and Treasury, finalize and clarify how such orientation periods would work.

Under the final regulations, the one-month orientation period would be calculated by adding one calendar month and subtracting one calendar day, measured from an employee’s starting day.

(more…)

Businesses re-evaluate spousal coverage

Tuesday, July 1st, 2014

Benefits Pro reports:

“When United Parcel Service (UPS) announced a major change in spousal insurance coverage, it was the shot heard ’round the benefits world.

“I have been talking about working spouses with access to their own health insurance for more than 10 years,” says Scott Snow, president of S.M. Snow & Associates Inc. in Berlin, Mass. “I was ahead of my time, and now it’s catching up with me. It’s a hot topic.”

(more…)

Most uninsureds don’t plan on getting covered

Monday, February 17th, 2014

Benefits Pro reports:

“Less than 40 percent of the uninsured population will get health insurance this year, despite the individual mandate in the Patient Protection and Affordable Care Act that says they have to.

That estimate comes from a survey released by the Robert Wood Johnson Foundation and the Urban Institute. (more…)

Most uninsureds don’t plan on getting covered

Tuesday, January 28th, 2014

Benefits Pro reports:

“Less than 40 percent of the uninsured population will get health insurance this year, despite the individual mandate in the Patient Protection and Affordable Care Act that says they have to.

That estimate comes from a survey released by the Robert Wood Johnson Foundation and the Urban Institute.

(more…)

UPS blames PPACA, to slash 15,000 spouses from coverage

Tuesday, September 3rd, 2013

Benefits Pro reports:

“The number of employers whose company health benefits plan cover the working (elsewhere) spouses of their employees has just been reduced by one — and it’s a big one, too.

UPS announced in a memo to employees that it would cut up as many as 15,000 employees’ working spouses from its health coverage rolls.

(more…)

Get Ready for Enrollment in Health Exchanges

Tuesday, September 3rd, 2013

The Wall Street Journal reports:

“In about six weeks, Americans will have a new kind of open enrollment to consider.

Starting Oct. 1, people without health insurance can sign up for standardized coverage through new health-insurance marketplaces run either by their state, the federal government or a combination of the two—the centerpiece of the Patient Protection and Affordable Care Act.

(more…)

Estimate: Nearly 1M workers to quit when exchanges open

Thursday, August 22nd, 2013

Benefits Pro reports:

“Some Obamacare opponents have labeled the Patient Protection and Affordable Care Act as a job-killer. New research indicates there may be a grain of truth to that — although the jobs won’t be “lost” the way the naysayers are predicting.

Rather, workers who are today in the workforce primarily as a means of obtaining affordable health care coverage will likely quit working, either temporarily or permanently.

(more…)

Self-insurance: A threat to Obamacare?

Monday, August 12th, 2013

Benefits Pro reports:

“Happy Jack Adventures is a successful small business, much like the many others the federal government hopes will line up to buy health insurance for their workers once the Patient Protection and Affordable Care Act fully kicks in.

Yet fearful of sharp premium hikes and with a mostly young, seemingly healthy workforce of 50, Jack McCormick, the founder and CEO of the Seattle, Wash.-based adventure tourism company, has something else in mind.

McCormick believes his firm is fiscally sound enough to bear the risk of self-insurance and is looking to make the switch.

(more…)

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