Beginning in 2014, everyone with insurance coverage through an employer will have to hand over $63 per year to cover the price of getting insurance for people with preexisting problems. It's a part of the Affordable Care Act, one of the many costs that law will impose.
insurance for the masses
It is definitely true that people with preexisting conditions, or preexisting medical problems, most likely should be able get insurance coverage. If they're willing to pay premiums, why shouldn't they be allowed to have it?
It is not inexpensive to add someone with preexisting conditions to insurance though. In fact, it is really costly because it is known a ton of medical treatment and coverage will be needed. The money has to come from somewhere now that the Affordable Care Act requires insurance agencies give coverage to those with preexisting problems, thanks to the Obama administration.
The requirement will not start until 2014, but between 2014 and 2017, $25 billion will need to be elevated to cover all of it. The only people left to cover the additional expenses are those who already have insurance and the companies who are forced to purchase it for workers.
Fee to be issues
Buried in the ACA's text is a fee that has to be imposed on everybody that presently is insured, to cover those with preexisting problems. The fee is going to be assessed on every business that provides insurance for its employees, much of which will likely be passed on to the roughly 190 million people who get insurance through their companies.
If companies pass on the fee to employees, then workers will have to pay $5.25 a month. That may not lead to getting payday loans or change your lifestyle, but it could still hurt. It costs $63 per insured person per year, according to Salon.com. Companies will pay higher bills if they are larger and smaller bills if they are lower.
The good news is that the fee will drop from $63 in 2014 to $50 the next year. Each year, it will decrease until 2017 when it phases out altogether.
To pay for Paul means taking from Peter
All told, aside from just that $25 billion cost to cover people with preexisting problems, the ACA mandates $700 billion be elevated from numerous sources over a decade. Noble as the idea is to get more people covered under health insurance, a lot of Peters have to pay for Paul, so to speak.
According to the Washington Post, health insurance premiums are increasing everywhere because of the health care law. People can expect to pay a lot more. HR consultancy Mercer did a survey that found 10 percent of corporations with over 500 workers increased health insurance premiums last year. This year, that number was up to 12 percent of companies.
insurance for the masses
It is definitely true that people with preexisting conditions, or preexisting medical problems, most likely should be able get insurance coverage. If they're willing to pay premiums, why shouldn't they be allowed to have it?
It is not inexpensive to add someone with preexisting conditions to insurance though. In fact, it is really costly because it is known a ton of medical treatment and coverage will be needed. The money has to come from somewhere now that the Affordable Care Act requires insurance agencies give coverage to those with preexisting problems, thanks to the Obama administration.
The requirement will not start until 2014, but between 2014 and 2017, $25 billion will need to be elevated to cover all of it. The only people left to cover the additional expenses are those who already have insurance and the companies who are forced to purchase it for workers.
Fee to be issues
Buried in the ACA's text is a fee that has to be imposed on everybody that presently is insured, to cover those with preexisting problems. The fee is going to be assessed on every business that provides insurance for its employees, much of which will likely be passed on to the roughly 190 million people who get insurance through their companies.
If companies pass on the fee to employees, then workers will have to pay $5.25 a month. That may not lead to getting payday loans or change your lifestyle, but it could still hurt. It costs $63 per insured person per year, according to Salon.com. Companies will pay higher bills if they are larger and smaller bills if they are lower.
The good news is that the fee will drop from $63 in 2014 to $50 the next year. Each year, it will decrease until 2017 when it phases out altogether.
To pay for Paul means taking from Peter
All told, aside from just that $25 billion cost to cover people with preexisting problems, the ACA mandates $700 billion be elevated from numerous sources over a decade. Noble as the idea is to get more people covered under health insurance, a lot of Peters have to pay for Paul, so to speak.
According to the Washington Post, health insurance premiums are increasing everywhere because of the health care law. People can expect to pay a lot more. HR consultancy Mercer did a survey that found 10 percent of corporations with over 500 workers increased health insurance premiums last year. This year, that number was up to 12 percent of companies.
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