Supporters of the expansion of Medicaid insurance to major portions of the uninsured introduced their bill in the Colorado Senate Thursday, calling it a win for health care and cost control efforts.
The measure seeks to shore up the Pre-Existing Conditions Insurance Plan (PCIP), a struggling program designed to offer insurance to vulnerable patients while the Affordable Care Act is fully implemented.
“A well-constructed private exchange can benefit employees, employers and insurers,” said Ken Sperling, Aon Hewitt’s national exchange strategy leader. “Many of these insurance companies experienced positive enrollment results in the Aon Hewitt Corporate Exchange last fall so it is not surprising to see growing carrier participation in private exchanges for 2014.”
This article is mostly focused on the potential for privagte exchanges available to or created for large employers, not the individual exchanges that start January 1st, 2014. Note, the small business exchanges ARE starting January 1st BUT they are only allowing the selection of a single plan. That will change for 2015.
The government will be using the tax returns due today to decide who will receive an estimated $25 billion in new insurance subsidies next year.
- Boost insurance costs (hardly a surprise there)
- Push millions off employer coverage
- Cause premiums to skyrocket.
- Cost people their jobs
- Tax the middle class
- Add to the deficit (now there’s a broken promise)
On the whole, outside of a crystal ball, Massachusetts is as good a bellwether as we currently have to imagine what life under Obamacare will look like—both the strengths and the weaknesses of the program. That’s because no other state has taken such a bold step in an attempt to offer more of its citizens quality healthcare and reform out-of-control healthcare costs.
Under the Affordable Care Act, the safety-net hospitals will gain a new source of revenue when millions of the uninsured gain coverage. At the same time, the law’s spending cuts could prove challenging for hospitals that tend to operate with relatively small profit margins.
Uugh, there aren’t supposed to be any uninsured anymore. The hospitals should have thought this through before falling in line behind Obamacare.
Here’s hoping that the President continues to focus on his golf game and delegates Obamacare implementation to his creatures.
Regal Entertainment Group, which operates more than 500 theaters in 38 states, last month rolled back shifts for non-salaried workers to 30 hours per week, putting them under the threshold at which employers are required to provide health insurance. The Nashville-based company said in a letter to managers that the move was a direct result of ObamaCare
It doesn’t take a genius to see this coming with more companies to follow, not to mention those that have gone before.
Regal, which had revenue of $2.8 billion in 2011, is the latest company to respond this way to the Affordable Health Care Act’s requirement that employees at companies of a certain size who work more than 30 hours per week be provided health coverage. Applebee’s and Olive Garden also scaled back the hours of workers. A handful of colleges have cut hours because of the law, including Palm Beach State College in Florida and New Jersey’s Kean University. Critics say the law is boomeranging on working folks.
The Heritage foundation doesn’t seem to think the Obamacare mandates are a good solution for the economy…
“If you want to have reduced work, lower wages and economic stagnation, this is a great way to do it, said Ed Haislmaier, senior research fellow at the Heritage Foundation.
Hey, even State governments are getting into the act:
In addition to the movie theater chain and several restaurants, the state of Virginia also rolled back the hours of all part-time employees back to 29 per week in February, with officials from the state claiming that the new mandate would cost the state tens of millions of dollars a year.
Most likely the newly minted part time empolyees will be eligible for subsidies under the Affordable Care Act, at least until they get a 2nd job to earn the same as their previous wage. The catch 22 is as they earn more money, the less the subsidy that will be available to them. Brother, you can’t make this stuff up.