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Author Topic: Don't Wait Until 2014 to Understand Obamacare  (Read 908 times)

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Don't Wait Until 2014 to Understand Obamacare
« on: August 11, 2013, 07:13:50 AM »
http://www.fool.com/
By Keith Speights
August 10, 2013


Next year will be the year. Although the Patient Protection and Affordable Care Act, commonly known as Obamacare, was passed back in 2010, the most significant parts of the major health-reform legislation don't become effective until 2014.

Just because major components don't kick into gear until then, though, doesn't mean you shouldn't understand as much as possible about Obamacare now.  Here are some important things you need to know.

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hubag bohol

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Re: Don't Wait Until 2014 to Understand Obamacare
« Reply #1 on: August 11, 2013, 07:14:39 AM »
If you're employed by a relatively large organization

The letter of the law states that employers with more than 50 full-time employees (defined as working at least 30 hours per week) must offer health insurance to all those employees in "months beginning after December 31, 2013" or pay a $2,000-per-employee fine. However, the Obama administration decided to interpret the law as giving it latitude to push back this deadline until Jan. 1, 2015. If you're employed but your employer doesn't offer health insurance, you'll have to wait a while longer.

That wait could really be a long one for some workers. That's because, in some cases, employers could find it more cost-effective to pay the fine instead of offer health insurance. Some organizations could also opt to use higher numbers of part-time staff to reduce their costs of compliance with Obamacare.

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hubag bohol

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Re: Don't Wait Until 2014 to Understand Obamacare
« Reply #2 on: August 11, 2013, 07:15:41 AM »
If you're employed by a smaller organization or are unemployed

The threshold for qualifying for Medicaid will increase in states that choose to implement the Obamacare Medicaid expansion. Generally speaking, individuals or families with income up to 133% of the federal poverty line will qualify for Medicaid. However, some states will have more lenient thresholds.

Anyone who doesn't qualify for Medicaid and is not covered by group health insurance by Jan. 1 will be required to get insurance or pay a penalty. This penalty will be the greater of $95 or 1% of income in the first year. The penalty escalates to the greater of $695 or 2.5% of income by 2016.

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hubag bohol

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Re: Don't Wait Until 2014 to Understand Obamacare
« Reply #3 on: August 11, 2013, 07:16:18 AM »
To avoid the penalty (again, assuming you're not covered by Medicaid), you'll need to purchase insurance through an online health insurance exchange. Some of these exchanges will be operated by states and others by the federal government. The exchanges are scheduled to become available on Oct. 1 of this year.

You could be eligible for federal tax credits to help you purchase insurance. The amount of the subsidy you're eligible for depends on your household income level. The less you make per year, the more financial assistance you get.

There's one other important thing to know if you're buying individual coverage: Insurance companies won't be able to charge higher rates because of gender or pre-existing medical conditions. That's good news for many, but it could increase the premiums for lots of Americans.

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hubag bohol

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Re: Don't Wait Until 2014 to Understand Obamacare
« Reply #4 on: August 11, 2013, 07:16:55 AM »
Regardless of employer size

There are a couple of provisions that will apply for employed Americans beginning in 2014 regardless of employer size. If you're relatively new to your job, your insurance plan can't impose an eligibility waiting period more than 90 days. Also, your annual maximum deductible can't be higher than $2,000 for an individual or $4,000 for a family.

Some Americans will get hit with more taxes. Individuals making more than $200,000 per year and married couples who file jointly that make more than $250,000 annually must pay an extra 0.9% tax. If you use a flexible spending account for health care, the maximum amount of pre-tax contributions you can make is $2,500. Also, the deduction for qualifying medical expenses jumps from 7.5% to 10% of adjusted gross income.

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hubag bohol

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Re: Don't Wait Until 2014 to Understand Obamacare
« Reply #5 on: August 11, 2013, 07:17:46 AM »
If you're an investor

Upcoming changes resulting from Obamacare are likely to help and hurt different industries. Many observers think the requirement that individuals obtain health insurance will help hospital chains. Hospital stocks have soared with the anticipated implementation of the individual mandate. Shares of Tenet Healthcare (NYSE: THC  ) , for example, are up 137% in the past year.

However, research by Deloitte casts some doubt as to whether hospitals will really be helped much by higher numbers of insured patients. Even if Deloitte is right, though, hospitals with better pricing power could still do well. This is the driving factor behind Tenet's recent purchase of Vanguard Health Systems.

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Re: Don't Wait Until 2014 to Understand Obamacare
« Reply #6 on: August 11, 2013, 07:18:26 AM »
HCA Holdings (NYSE: HCA  ) might be the best choice when it comes to hospital stocks. It's the largest hospital chain in the nation. HCA shares haven't surged as much as most of its peers, and as a result, the stock appears to be more attractively valued than others right now. If Obamacare does help as much as some expect it to, HCA will benefit.

Turning to health-insurance companies, you might think the increased restrictions could hurt their profits. Think again. The companies will just increase premiums to make up for having to provide more benefits.

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hubag bohol

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Re: Don't Wait Until 2014 to Understand Obamacare
« Reply #7 on: August 11, 2013, 07:19:01 AM »
Obamacare's Medicaid expansion should particularly help several of the insurers. WellPoint (NYSE: WLP  ) looks to be in good shape to benefit after its acquisition last year of Amerigroup. The combined company serves 4.5 million Medicaid beneficiaries in 20 states. With a trailing price-to-earnings multiple below 10 and projected annual earnings growth over the next several years of 11.5%, WellPoint seems to be a good pick to profit from Obamacare.

One company that just might emerge as one of the biggest winners from Obamacare is eHealth (NASDAQ: EHTH  ) . The health insurance website operator scored a major victory last week with a contract that allows it to sell insurance plans participating in Obamacare exchanges. If millions of Americans purchase health insurance as intended, eHealth will profit significantly.

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hubag bohol

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Re: Don't Wait Until 2014 to Understand Obamacare
« Reply #8 on: August 11, 2013, 07:19:33 AM »
Clear as mud?

Do all of the coming Obamacare changes seem as clear as mud to you? Don't worry -- you're not alone. In fact, an April survey conducted by the Kaiser Family Foundation found that 40% of Americans didn't even know that Obamacare was still a law. At least you're now more knowledgeable than nearly half of your fellow citizens.


8)

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diablo

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Re: Don't Wait Until 2014 to Understand Obamacare
« Reply #9 on: August 11, 2013, 09:42:03 AM »
you dont know what you are talking about. kay kotob ra man ka sa copy paste. gusto ni barak tagaan ug insurance ang way insurance. at the cost of honest taxpayers like me. ahong amigo nga ceo sa gamay nga ospital has no more health insurance. matod pa nija, na dugangan ug $700 monthly ang ijang health insurance when obamacare took effect. di na sija ka apas mao nga ijang gi give up ang ijang health insurance.nag lisod intawon. last feb. 14, mi extra ug deliver ang ahong amigo ug ijang asawa ug deliver ug flowers sa flower shop sa amigo pod naho nga vietnamese. they made more than one thousand dollars. flat rate delivery of $5 for every order of flowers. mi extra pod ko. kasapi ko ug kapin $100. mi undang ko dajon kay tilaw tilaw ra man tong aho.

football is americas largest sport. mi request si barak sa NFL[national football league] nga ipa advertise ang obamacare. the nfl refused. mao nga gi delay ni barak ang full implementation. kong ma full blown na ning obamacare next year, patay tanan hasta ok-ok.

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Re: Don't Wait Until 2014 to Understand Obamacare
« Reply #10 on: August 11, 2013, 03:47:00 PM »
Rep. Blackburn: Obama Wants a Government Shutdown, Not GOP
Friday, 09 Aug 2013 09:13 PM
By Todd Beamon


President Barack Obama wants the GOP to shut down the federal government in its quest of defund Obamacare, Rep. Marsha Blackburn told Newsmax on Friday.

"He's the one who wants a government shutdown," the Tennessee Republican said. "He's probably looking at it and saying: 'Shut it down. Give me the checkbook — and I get to control all discretionary spending, the Obamacare spending, the mandatory spending.'

"He's just sitting there saying: 'Have at it. Give it a shutdown,'" Blackburn added.

"That's not what we want. We want for him to be working with us instead of running around the country giving campaign speeches."

Blackburn was among several GOP legislators who shared their insights on Obama's comments at his White House news conference.

The president's harshest words for were for Capitol Hill Republicans, who have threatened to shut down the government on Oct. 1 in their effort to defund Obamacare.

Negotiations over the continuing resolution to finance the government begin next week. Congress will have to pass the resolution by the end of September to keep the government operating.
"The American people would have difficulty understanding why we would weaken our economy, shut down our government, shut down vital services, have people who are not getting paid who then can't go to restaurants or shop for clothes or all the other things that we're doing here — because Republicans have determined that they don't want to see these folks get health care," Obama said, his anger growing as he addressed a reporter's question on the subject.

"They used to say they had a replacement," the president added. "I've been hearing about this whole replacement thing for two years. Now, I just don't hear about it, because basically, they don't have an agenda to provide health insurance to people at affordable rates.

"And the idea that you would shut down the government at a time when the recovery's getting some traction, where we're growing, although not as fast as we need to, where the housing market is recovering, although not as fast as we would like, that we would precipitate another crisis here in Washington that no economist thinks is a good idea — I'm assuming that they will not take that path.

"I have confidence that common sense in the end will prevail," Obama said.

Blackburn told Newsmax that the only common-sense approach on Obamacare is for Republicans to "make certain that there is no way that any money, any taxpayer money, is going to go into this bill because the majority of the American people do not want this law.

"They don't want Obamacare," she added. "They want to keep what they've got. They're really upset about this."

Republicans have been proposing healthcare reforms since Obama's bipartisan 2009 healthcare summit at Blair House in Washington.

These include allowing Americans to buy health insurance across state lines and ensuring that insurers faithfully back the policies they sell.

"The difference between his proposals and our proposals are that ours are patient-centered, free-market-oriented — and theirs are government-centered," Blackburn told Newsmax. "We want to leave the control with the patients."

In fact, House Majority Leader Eric Cantor of Virginia released a list of GOP proposals to lower healthcare costs and to improve services.

These include legislation to establish programs to provide coverage to Americans with pre-existing conditions, to end "junk lawsuits" against doctors and insurance companies, and to prevent insurers from unjustly cancelling policies or instituting lifetime spending caps.

"Rather than engage in partisan attacks, President Obama should work with Congress to implement better healthcare reforms that lower costs, protect jobs and provide better care, as Republicans have consistently offered," Rory Cooper, a Cantor spokesman, told Newsmax.

"Obamacare increases costs, turns full-time jobs into part-time jobs and reduces the quality of care," he added. "President Obama should urge the Senate to pass our bill codifying his desired employer mandate delay which also extends this privilege to every individual citizen.”

Former South Carolina GOP Sen. Jim DeMint told Newsmax that the House should defund Obamacare no matter what the risk to the Republican Party, even if it leads to a government shutdown.

"We all know this is a terrible bill, and the more we learn about it the more we understand it's going to hurt people, it's going to hurt our country," said DeMint, who now is the president of the Heritage Foundation. "This may be our last chance to stop it, and the only way to stop it when Republicans control only the House is to fund the government but not to include any funding for Obamacare."

And Republican Rep. Peter King of New York, who is considering a White House run in 2016, was even more blunt in his response to Obama's news conference.

“I wish he showed the same anger toward Edward Snowden as he did to the Republicans on Obamacare,” King told CNN.


© 2013 Newsmax. All rights reserved.





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