Covering Preexisting Conditions To Cost Everyone Else $63 Per Year
Starting in 2014, everyone with coverage through a company will have to hand over $63 per year to cover the cost 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.
Giving every person insurance
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 turns out the federal government agreed, or at least a ton of previous Democratic congressmen agreed and they passed the Affordable Care Act, mistakenly referred to as "Obamacare" though all the president did was sign it into law. As a result, insurance companies cannot exclude people from coverage due to preexisting problems. As with any government regulation of commerce, that means the money has to come from somewhere.
The requirement will not start until 2014, but between 2014 and 2017, $25 billion will need to be raised to pay for all of it. The only people left to cover the additional expenses are those who already have insurance and the employers who are forced to buy it for employees.
Fee to be problems
Everybody presently insured will have to pay a fee, according to ACA's text, in order to pay for the preexisting conditions. Every business that gives insurance to workers will have to pay the fee, and about 190 million people who get insurance through companies will end up having to pay the fee.
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 companies and not so bad for small corporations. The fee will likely be passed down to workers at an extra $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.
In 2017, the fee will phase out entirely, and it will drop every year starting at $63 per person in 2014 to $50 the next year. The fee keeps going down.
Taking a little to give just a little
It seems like a really nice idea to help get health insurance for other people, but lots of people will have to put even more in if every person is going to be able to get coverage. The ACA requires that another $700 billion be raised in the next ten years on top of the $25 billion for those with preexisting conditions.
According to the Washington Post, health insurance premiums are increasing everywhere due to 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.
Giving every person insurance
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 turns out the federal government agreed, or at least a ton of previous Democratic congressmen agreed and they passed the Affordable Care Act, mistakenly referred to as "Obamacare" though all the president did was sign it into law. As a result, insurance companies cannot exclude people from coverage due to preexisting problems. As with any government regulation of commerce, that means the money has to come from somewhere.
The requirement will not start until 2014, but between 2014 and 2017, $25 billion will need to be raised to pay for all of it. The only people left to cover the additional expenses are those who already have insurance and the employers who are forced to buy it for employees.
Fee to be problems
Everybody presently insured will have to pay a fee, according to ACA's text, in order to pay for the preexisting conditions. Every business that gives insurance to workers will have to pay the fee, and about 190 million people who get insurance through companies will end up having to pay the fee.
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 companies and not so bad for small corporations. The fee will likely be passed down to workers at an extra $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.
In 2017, the fee will phase out entirely, and it will drop every year starting at $63 per person in 2014 to $50 the next year. The fee keeps going down.
Taking a little to give just a little
It seems like a really nice idea to help get health insurance for other people, but lots of people will have to put even more in if every person is going to be able to get coverage. The ACA requires that another $700 billion be raised in the next ten years on top of the $25 billion for those with preexisting conditions.
According to the Washington Post, health insurance premiums are increasing everywhere due to 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.
About the Author:
Source of article: why now don't have a look at https://personalmoneynetwork.com/cash-advance/?
Covering Preexisting Conditions To Cost Everyone Else $63 Per Year
![Covering Preexisting Conditions To Cost Everyone Else $63 Per Year]()
Reviewed by noor abid
on
08:34:00
Rating:
Post a Comment