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Mal Allison

As health costs rise, some companies blame Obamacare  - NBC News.com - 0 views

www.nbcnews.com/...game-over-obamacare-8C11030892

health costs companies Obamacare

shared by Mal Allison on 31 Aug 13 - No Cached
  • Mal Allison on 31 Aug 13
     
    A recent Kaiser Family Foundation/Health Research & Educational Trust survey found that while healthcare costs are still climbing, the rate of increase has slowed to 4 percent, bringing the average premium of employer-provided insurance to $16,351 for family coverage.
Mal Allison

HEALTH REFORM: Expect Pluses, Minuses for Those With Job-Based Coverage - iVillage - 0 views

www.ivillage.com/...4-a-547763

ACA employer-based insurance

shared by Mal Allison on 01 Oct 13 - No Cached
  • Beginning in 2014, for instance, the reform package prohibits employer-sponsored health plans from excluding people from coverage based on pre-existing health conditions
  • It also makes larger employers responsible for offering medical coverage. Beginning Jan. 1, 2015, businesses with more than 50 workers must offer health insurance to full-time workers and dependents or pay penalties.
  • annual limits will be banned completely in 2014.
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  • Also, if you have an adult child under age 26 and your employer health plan offers coverage for dependents, the plan must allow your son or daughter to enroll. Spiro called th
  • The law also requires most employer health plans to offer certain preventive services at no cost to the employee.
  • Effective Jan. 1, 2014, the law allows employers to boost rewards and penalties (such as premium discounts or surcharges) to 30 percent of the total plan premium, up from 20 percent.
  • ne in five employers has boosted employees' share of health plan premiums,
  • HealthCare Advocates, which helps consumers resolve health insurance problems. "I think at the end of the day, everybody's going to be paying more," he said.
  • e IFEBP survey also estimates that about 16 percent of employers are trimming worker hours to part-time status so fewer employees will qualify for health-plan benefits.
  • Beginning in 2015, large employers -- those with at least 50 full-time workers -- must provide health insurance to employees who log an average of 30 or more hours a week or pay penalties.
  • A study published earlier this year by the University of California, Berkeley Center for Labor Research and Education found that 2.3 million workers nationwide -- particularly retail and restaurant workers -- are at risk of losing hours as a result of the new law.
  • A growing number of midsize and large employers -- 25 percent in 2014 and 44 percent in 2015 -- are also saying they're likely to discontinue health coverage for Medicare-eligible retirees, a new Towers Watson & Co. survey found.
  • Starting in 2018, the law imposes a steep tax on employer plans with premiums exceeding $10,200 for an individual and $27,500 for a family -- plans that are typically offered to high-wage earner
  • About 17 percent of employers are redesigning their high-cost plans to avoid this so-called "Cadillac tax," while 40 percent are considering i
  • The percentage of Americans receiving health insurance on the job or through a family member's job slipped from 69.7 percent in 2000 to 59.5 percent in 2011,
  • Staggering increases in health insurance premiums also contributed to the decline, resulting in fewer employers offering coverage and fewer employees accepting it.
  • Congressional Budget Office estimates suggest that as many as 7 million people will lose job-based coverage by 2017 a
  • But just 26 percent are confident that they will be offering health-care benefits a decade from no
  • r Center, has summarized provisions of the Affordable Care Act affecting employer-sponsored insurance.
  • To read part one of the series, how to navigate the new health insurance exchanges, click here.
  • Mal Allison on 01 Oct 13
     
    Experts say smaller companies that employ 50 or more workers and currently provide health insurance may drop coverage because it would be cheaper to pay fines than maintain coverage for all of their workers. Most large employers (with more than 1,000 employees) remain committed to providing health benefits for the next five years, according to an employer survey by Towers Watson/National Business Group on Health. But just 26 percent are confident that they will be offering health-care benefits a decade from now. Meanwhile, a number of large employers are eyeing private health insurance exchanges as a way to continue providing job-based coverage while controlling spending on health benefits. Much like the public exchanges under the Affordable Care Act, private exchanges represent a new way for employees and families to shop for group health coverage and other benefits. Instead of offering a limited number of health plans, the employer would give workers a set amount of money to buy their own coverage. Kaiser, who works in Gallagher Benefit Services' Mount Laurel, N.J., office, anticipates a slow migration toward private exchanges. "I don't think it's going to be a mass disruption of employer-sponsored plans where they all go, 'I'm out of the game,'" he said. More information The University of California, Berkeley Labor Center, has summarized provisions of the Affordable Care Act affecting employer-sponsored insurance.
Mal Allison

Companies shift more health costs onto workers | The Tennessean | tennessean.com - 0 views

www.tennessean.com/...BUSINESS

companies shift health costs workers

shared by Mal Allison on 04 Nov 13 - No Cached
  • Health insurance costs ate 7.7 percent of total payroll expenses for private-sector employers in 2012, according to the NIHM study.
  • n 2013, individuals paid, on average, $5,900 in total annual premiums for employer-sponsored coverage. On average, family plans cost more than $16,300. “With employees’ costs for medical coverage growing much more quickly than general inflation, hourly earnings and family income, some workers are inevitably (being) priced out of coverage,” the study said.
  • 2018, 40 million American employees will be enrolled in private exchanges
Mal Allison

Massachusetts companies weigh trimming employee benefits in response to federal health ... - 0 views

www.bostonglobe.com/...story.html

massachusetts companies employee benefits health law ACA

shared by Mal Allison on 02 Sep 13 - No Cached
  • Delta Airlines has reduced the generous health benefits offered to its pilots in order to avoid a new federal tax on costly health plans, known as the “Cadillac tax.” Starting in 2018, most employers must pay a 40 percent excise tax on the amount that premiums for a health plan exceed $10,200 for an individual and $27,500 for a family. “Given enough years, all plans will eventually risk being subject to the Cadillac tax and as they do, the natural reaction will be to continually reduce benefits provided,” wrote a Delta executive in a memo.
Mal Allison

States experimenting to lower health care costs - 0 views

bigstory.ap.org/...enting-lower-health-care-costs

states lower health care

shared by Mal Allison on 04 Sep 13 - No Cached
  • "Look at any of the long-term projections for the federal budget or for state budgets," said Alan Weil, executive director of the National Academy for State Health Policy. "If we don't bring down health care costs, we're either going to be paying a whole lot more in taxes or we're going to stop spending money on other things we care about."
  • "It has to end eventually," said Larry Levitt, senior vice president of the Kaiser Family Foundation, "because we can't have an economy driven entirely by health care."
Mal Allison

Obamacare, but by Any Other Name - WSJ.com - 0 views

online.wsj.com/...4324404579045124252952670.html

obamacare health exchanges ACA Minnesota

shared by Mal Allison on 31 Aug 13 - No Cached
  • A poll released this week by the nonpartisan Kaiser Family Foundation found that 51% of Americans say they don't understand how the health law affects them. More Americans disapprove of the law—42% to 37%—than favor it, according to the poll.
Mal Allison

Health Insurance Within Reach - NYTimes.com - 0 views

well.blogs.nytimes.com/...health-insurance-within-reach

health insurance ACA changes

shared by Mal Allison on 16 Jul 13 - No Cached
  • All health plans offered on a state exchange must provide comprehensive coverage that includes doctors’ visits, lab work, hospital stays, emergency room services, maternity care, prescriptions, mental health services and children’s dental and vision care.
  • Policies with the most generous benefits will be “platinum” plans; they will have the highest monthly premiums but fewer out-of-pocket costs and lower deductibles. The “gold” and “silver” plans will be somewhat less generous, while those in the “bronze” category will have the cheapest premiums but may require high out-of-pocket costs and deductibles.
  • Be aware that the plans may have narrow provider networks — your favorite doctor or the hospital down the street may not be a participant. You’ll need to check to see if a certain provider is in the network, advised Sabrina Corlette, a research professor at Georgetown University’s Center on Health Insurance Reform.
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  • Be prepared for sticker shock. A 40-year-old nonsmoker may be able to buy a plan for about $4,000 annually or less; someone in his or her 50s may pay double. “Health insurance is an incredibly expensive product,” Ms. Corlette warned.
  • People who earn up to four times the federal poverty level — roughly $45,960 a year for a single person and $94,200 for a family of four — can receive subsidies to help pay for the new coverage. Those earning 250 percent of the poverty level are eligible for additional cost-sharing subsidies.
  • Americans who work at minimum wage jobs, earning less than 138 percent of the federal poverty level, which is $15,856 for a household of one and $32,499 for a household of four, will qualify for free government coverage under Medicaid — but only if they live in a state that is expanding its Medicaid program.
  • Open enrollment on the new exchanges will run from October 1 through March 31. Y
Mal Allison

Some Say Obamacare's 'Affordable' Coverage Isn't Affordable For Them - Kaiser Health News - 0 views

www.kaiserhealthnews.org/...rdability-insurance-costs.aspx

ACA affordablemoderate income

shared by Mal Allison on 25 Sep 13 - No Cached
  • After that level, the law caps out-of-pocket payments to a maximum of $6,350 annually for an individual, or $12,700 for a family.
  • For La Voie, who makes less than 200 percent of the federal poverty level, the law caps out-of-pocket costs at $2,250 for individuals.
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