Will the Obama Care laws requiring everyone to have health insurance affect you in the near future?

No, not directly; I am already insured or on Medicare
38% (10 votes)
No, I am part of a cost sharing network and covered
15% (4 votes)
Unsure
8% (2 votes)
Yes, I will have to purchase insurance
19% (5 votes)
Other
15% (4 votes)
I am not affected by this law: I am an expatriate or not an American citizen
4% (1 vote)
Total votes: 26
3731 reads

There are 14 Comments

Ed Vasicek's picture

According to Healthcare.gov

Coming in 2013: The Health Insurance Marketplace
Individuals and small businesses can buy affordable and qualified health benefit plans in this new transparent and competitive insurance marketplace

Coming in 2014: Tax Credits for Families
Tax credits to help the middle class afford insurance will become available for those with income between 100% and 400% of the poverty line who are not eligible for other affordable coverage.

Open enrollment begins this October.  Anyone know the date by which Americans are required to have health care?

"The Midrash Detective"

Chip Van Emmerik's picture

I have insurance, and my two youngest are insured by the state until 18. But my wife and oldest daughter do not have insurance.

Why is it that my voice always seems to be loudest when I am saying the dumbest things?

DavidO's picture

Anyone know the date by which Americans are required to have health care?

As of right now, I'm pretty sure its 1/1/14, but that may get moved if the exchange markets aren't in place in time.

I'm in HR and deal with the broker that procures insurance for my employer's company group.  I've been told that group coverage will see and across the board rate increase of 4-8% just because of the cost of the program itself (including fees and increased group populations).  So this Act will cost everyone.

 

Furthermore, I dropped out of my group two years ago, because I could go direct to an insurer personally and get the same coverage my employer offered for what he'd have charged me in premium contributions.  This saved him, not him and me, just him, $800 a month.  However, direct rates are likely to go up quite a bit as well to cover the spread cost of "universal enrollment". 

 

Ed Vasicek's picture

Thanks, David O, for that useful info.  Chip, sounds like this new law will impact you quite a bit.

"The Midrash Detective"

CPHurst's picture

Some people will have to get insurance that did not before and those of us who already have ti will have to pay more for the same coverage or less. Everyone will be effected economically. 

Ron Bean's picture

I have great health insurance through my work. It is my understanding that my employer's substantial contribution to as well as my share of the premium will all be taxable income and not paid with pre-tax dollars.

"Some things are of that nature as to make one's fancy chuckle, while his heart doth ache." John Bunyan

Pastork's picture

I voted "Other" because I already have insurance but have and will be affected by the co-called "Affordable Health Care Act." Since Obama Care passed, my insurance has almost doubled and is projected to go up by another $2,000 to $3,000 per year in the next year or two.

CPHurst's picture

Pastork, what insurance provider do you have? I purchase BCBS myself but it has not doubled. I get a regular increase about every 6 mths. My insurance has doubled in the last 5 yrs but not since ObamaCare was passed. However, I do expect it to go up come Jan. 1, 2014.

I am interested to see if they will adapt everyone current plans to be compliant with the future changes or cancel all existing plans under the guise that they do not comply and then give us all new plans to choose from that will of course not be as good unless you have the money to pay for them.

Pastork's picture

I have a very good Blue Cross/Blue Shield insurance plan. But I also live in Illinois so, given that Obama Care is being administered differently in some states versus others, with some states resisting it more than others, I don't know how much difference that factor makes in the way rates may have increased in various states. And, of course, different states already had different rates anyway.

I also don't know how the rates might be affected differently for different plans even within the same company in the same sate. For example, there may be regulations that forbid companies for raising rates at the same level for plans geared more toward lower income people.

Pastor Doug H's picture

I think most people do not realize the widespread impact this will have come 1/1/14.

1) Any company close to the 50 employee is going to calculate the profitability of having 50+ full-time employees (30 hrs or more)...this may lead to having multiple part-time jobs to make ends meet.

 

2) Companies with more than 50 full-time employees will calculate the difference between paying health care cost and the "tax" for not having health insurance.  The companies will pay the 'tax' and employees will have to find health insurance on their own through the new system.

 

3) Insurance cost have to go up because the current "preexisting" clauses disappear on 1/1/14, this is why the younger/healthier are being forced to buy insurance to cover the cost for the sick

 

4) As my daughter found out in Oct, health coverage is going to change...her company changed everyone's policy to high deductible plans (2500 for single, 5,000 for families).  There was a "gold plan"  but the cost was unaffordable, as well on 1/1/14 such a plan will be taxed as it will considered a "Cadillac plan".

 

So the cost are going to be found in so many different areas, fewer doctors, less incentive for medical advancements, and the list goes on and will should be expected to as health care accounts for 1/6th of the US economy. 

Ed Vasicek's picture

Pastor Doug H.

 

Thank you,  Very informative!

 

"The Midrash Detective"

Sean Fericks's picture

I chose "other" because I run a business.  Perhaps I should have checked "unsure" because I don't have the ability to know exactly how this will affect my business.

FelixC's picture

Legally-married same-sex partners enjoy the same tax benefits as traditional married partners, but only as they relate to the income tax charged by their states. Not so with regards to federal income tax. However, in a strange twist of the tax code, that very exclusion may actually give them an advantage on the subject of the “second parent adoption credit.”

 

Mod Note: Removed link to commercial sales site. [Jim]

Pastork's picture

In the past three years -- I incorrectly said five years in an earlier post -- since Obamacare (also often falsely called the "Affordable Health Care for America Act") was passed, my insurance has more than doubled and is now costing more than $20,000 per year.

My insurance company, Blue Cross Blue Shield of Illinois, has informed me that my policy is "grandfathered in" since it hasn't been changed in many years, but I received yet another notice just a few weeks ago that there would be two additional "fees" required by the "Affordable Care Act" that would be applied to my policy beginning in January, which will amount to approximately an additional $135 every two months.

Meanwhile the Obama administration is attempting to funnel as many people as possible into Medicaid and Medicare, or to offer subsidies to as many many people as possible. Hmmm....? Any guesses as to who gets to help pay for it all as he watches his rates go sky high?