Friday, November 1, 2013

Obamacare: This is Going to Hurt

Ouch! That’s the cry of someone trying to sign up for the Affordable Care Act, usually called Obamacare.obamacare-this-is-going-to-hurt
Health insurance cancellation notices have gone out to millions of  Americans. Many cannot get insurance at all. And for many who can, “premium shock” strikes those seeing their health plans canceled and renewed at higher rates.
Insurance industry experts are warning that two-thirds of already insured Americans will see their current insurance dumped into the hospital waste bin.
Obamacare is supposed to take care of people with pre-existing health conditions. But the actual “preexisting health condition” turns out to be already having private insurance. Obamacare means you have to sign up to find out whether that “condition” still exists — or has been canceled.

Another Obamacare bombshell about to drop

Written into the Affordable Care Act is section 105(h), which states every private employer must have 70 percent of its employee population covered on the company-sponsored health plan.
If not, the plan will be deemed discriminatory by the IRS, and the employer will be fined $100 per employee, per day.
But we’re not quite there yet. The Obama administration quietly had the IRS and the Department of Health and Human Services suspend this part of the law until they’ve written the regulations for it. This could happen at any time. The mere fact this explosive rule is sitting in the hands of the IRS and HHS should strike fear into the hearts of businesses and employees across the nation.
Insurance industry experts warn 40 percent of employers will drop health care benefits when the IRS and HHS implement this part of the ACA. Employers have no control over how many employees accept the company health plan. And who knows how drastic or cruel the regulations for this part of the law will be with the IRS and HHS disciplinarians in charge?

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