The Affordable Care Act, which many took to calling "Obamacare," requires everyone with preexisting conditions can't be excluded from health insurance plans. However, to get them onto programs means someone will have to pay to get them insured. Everybody with insurance through employers will foot the bill, to the tune of $63 each year starting in 2014.
insurance for the masses
People should be able to get insurance coverage if they are willing to pay premiums no matter what the situation is. Even people with preexisting medication problems should have the ability to get covered.
It is not inexpensive to add someone with preexisting problems to insurance though. In fact, it is really expensive 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 demands insurance agencies give coverage to those with preexisting conditions, thanks to the Obama administration.
The additional expenses on insurance companies means the people left holding the check are those that already have insurance and the companies who purchase it, according to CBS. It doesn't kick in until 2014, but $25 billion has to be elevated between 2014 and 2017.
Only $63 a year
Every person presently insured will end up having to pay a fee to give insurance to those with preexisting problems though. About 190 million people get insurance through their employers, and the fee will most likely be passed on through them. Every business that gives insurance to workers will be paying, according to the ACA's text.
The fee is going to be passed to companies on a yearly basis of $63 per insured person. That means the bill is higher for large corporations and not so bad for small companies. The fee will likely be passed down to workers at an additional $5.25 a month to get it all paid. It may not trigger you to run for payday loans to pay the rent, but it could seriously impact people on tight budgets.
The good news is that the fee will drop from $63 in 2014 to $50 the next year. Yearly, it will decrease until 2017 when it phases out altogether.
Taking a little to give just a little
All told, besides just that $25 billion cost to cover people with preexisting conditions, the ACA requires $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 cover Paul, so to speak.
Because of the health care law, premiums have been starting to slowly go up. For instance, According to the Washington Post, HR consultancy Mercer found in a recent survey this year that 12 percent of employers with at least 500 workers have raised premiums on health insurance, compared to 10 percent last year. Everyone with insurance can probably be ready to pay more in future years, for everybody else.
insurance for the masses
People should be able to get insurance coverage if they are willing to pay premiums no matter what the situation is. Even people with preexisting medication problems should have the ability to get covered.
It is not inexpensive to add someone with preexisting problems to insurance though. In fact, it is really expensive 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 demands insurance agencies give coverage to those with preexisting conditions, thanks to the Obama administration.
The additional expenses on insurance companies means the people left holding the check are those that already have insurance and the companies who purchase it, according to CBS. It doesn't kick in until 2014, but $25 billion has to be elevated between 2014 and 2017.
Only $63 a year
Every person presently insured will end up having to pay a fee to give insurance to those with preexisting problems though. About 190 million people get insurance through their employers, and the fee will most likely be passed on through them. Every business that gives insurance to workers will be paying, according to the ACA's text.
The fee is going to be passed to companies on a yearly basis of $63 per insured person. That means the bill is higher for large corporations and not so bad for small companies. The fee will likely be passed down to workers at an additional $5.25 a month to get it all paid. It may not trigger you to run for payday loans to pay the rent, but it could seriously impact people on tight budgets.
The good news is that the fee will drop from $63 in 2014 to $50 the next year. Yearly, it will decrease until 2017 when it phases out altogether.
Taking a little to give just a little
All told, besides just that $25 billion cost to cover people with preexisting conditions, the ACA requires $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 cover Paul, so to speak.
Because of the health care law, premiums have been starting to slowly go up. For instance, According to the Washington Post, HR consultancy Mercer found in a recent survey this year that 12 percent of employers with at least 500 workers have raised premiums on health insurance, compared to 10 percent last year. Everyone with insurance can probably be ready to pay more in future years, for everybody else.
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