The Insurance Blog

ObamaTax Health Exchange (Marketplace) news

So yesterday, I did my Exchange training and exams. Started at about 9:30 in the morning, finished about 4:30 in the afternoon.

I understand Pat completed this in just a few hours, but he's a lot younger (and apparently smarter) than I am. And I also took the liberty of saving all the training material for future reference (which no doubt added some time, as well)

I'll have a more complete report soon, but here are some of my initial impressions fresh off the training and exams:

I'll just say this: if you're comfortable having ALL your personal medical, financial, tax and what-all info being zipped around between SSA, IRS and DHS (Department of Homeland Security?? Really??), then by all means head right for 'em on 10/1 (assuming they're actually online then).

I'm pretty knowledgeable about this stuff (really!) and even I was amazed and appalled at the level of intrusion this train-wreck has wrought. Oh, and you'll be pleased to know that as taxpayers, you'll have the double-mitzvah of paying through the nose not just for your own health care, but for all those wonderful "others" who qualify for premium and "cost-sharing" subsidies.

Here's my favorite part, though:

"QHPs [Qualified Health Plans] in a Marketplace must also provide coverage that meets one of five levels of generosity ... It is important to emphasize that AV is an average measure of generosity ... the percentage of medical costs the plan will cover after premium payments."

And just who's being generous with MY money? Oh, yeah.

And to top it off, this just in at the WSJ:

"Less than two weeks before the launch of insurance marketplaces created by the federal health "overhaul, the government's software can't reliably determine how much people need to pay for coverage"

Yeah, this is going to end well....

ObamaTax School's Now In Session!

Learn it, live it, love it:

I've been remiss....

In case you missed it, I'm the newly-installed Content Expert Writer (Insurance) for Answers.com. It occurs to me that IB readers might be interested in some of my work in that venue, so here are some free samples:

Part 1 of a 3-part series on Universal Life

An explication of Insurable Interest

Enjoy!

But it's a nice hat. That's because the people paid for that hat.

Remember the President's assurances that his ACA would finally “bend the cost curve”?

Despite a determined rear-guard media that clings to Obama's every word as universal truth, evidence accumulates that the President was talking thru his hat.

On September 17, 2013, CBO released it's most recent Long-Term Budget Outlook.

According to CBO, in 20 years, “major health care programs” will be the largest component of federal spending.

CBO expresses its estimate relative to GDP - which is also growing. CBO's estimate is that federal health care spending will increase from roughly 3% to north of 8% of GDP. That's almost tripling the share of a base number that is itself growing every year. CBO thus anticipates federal dollar spending growth for health care more like 4X's to 5X's its level in 2013.

Bend the cost curve, indeed.

Talking thru his hat.

(btw, the same CBO estimate finds that within the next 25 years, federal debt held by the public will be 100% of America’s entire GDP "without accounting for the harmful effects that growing debt would have on the economy." The corresponding percentage as late as 2007 was less than 40% of GDP. This administration's failure to bend the federal spending cost curve is clearly a serious problem that extends well beyond "health care".)

Cavalcade of Risk #192: Galloping Into View edition

Nancy Germond hosts this week's romp through the wilds of risk, a maze of medical conditions, and a not-so-*fowl* post on chickens (cluck all you want).

Bored Game

If you have nothing to do, what happens? Some drink. Some go shopping. Others create board

games.

"Everybody has to pay. Nobody ever wins,"

Each player starts out on the "Buy Insurance" square as a small business owner (except for the Occupy Wall Streeters, who begin the game unemployed). Along the way, players are taxed, troubled, hospitalized, or may even fall victim to a death panel as they make their way across the board.

CNS News

Do not pass Go.

Do not collect $200.

"We may have added some funny exaggerations in the game," LeFeber said. "But since the original bill was brought to you by the same folks who so efficiently manage the US Postal Service, Social Security Trust Fund, recent Bank Bailouts, and soon-to-be $17,000,000,000,000.00 in government debt--you know the game is rigged against us from the start."

Just like real life. You have to play the game to know what is in it.

Obamacare Cry Babies

Employees of Bibb County (GA) schools got an early peek at their new benefit plan for 2014.

Through the end of this year employees had a choice between several plans administered by UHC or Cigna. They could pick an HMO or PPO. Copay or high deductible HSA or high deductible HRA.

Choices, choices.

That was then. This is now.

The Georgia Blue's got tired of sitting on the sideline and made a winner take all offer to the SHBP (State Health Benefit Plan) administrator.

Blue won the contract. Cigna and UHC are gone.

Say bye-bye to copay plans and freedom of choice. Employees can pick from one of three plans and their choice is Blue or Blue.

No more copay plans.

They are calling the new design a PPO with an HRA wrap.

Last year the state provided this comparison between the 2012 and 2013 plans. The plans were not bad and not good. Most employees preferred the HMO because of the doc copay's.

2014 is a new year and copay's are last years news. The new PPO Wrap looks like this.

As you can guess, most of the employees are not happy.

Where are the copay's? Gone . . . .

They can't do this to us! Yes they can . . .

I want my Obamacare plan. This IS your Obamacare plan . . .

For some reason I am reminded of that scene from Private Benjamin.
Pvt Benjamin - "I think they sent me to the wrong place. I did join the army, but it was a different army. I joined the one with the condo's and private rooms."

No doubt, many Pvt. Benjamin's will be checking out the exchange offerings when it opens in a few weeks. Some may even sign up, expecting to get a subsidy . . . or a condo with a private room.

A subsidy that will never happen.

The law says if you have an "affordable" health insurance plan through your employer, you can still buy from the exchange but you are not eligible for subsidies.

How is affordable defined?

Glad you asked. If the employee premium is less than 9.5% of the employee's W-2 gross income the plan is deemed affordable.

If the employer plan meets that criteria, neither the employee or their dependents will qualify for an Obamacare subsidy.

Elections have consequences.