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Forum Thread

Obamacare fee of $63 per person to begin in 2014

rrc06 2,214 December 11, 2012 at 08:45 AM
How many layers does the Obamacare onion have? I wonder what other surprises will be "overlooked" and then surface later....

Obamacare fee of $63 per person to begin in 2014
[washingtontimes.com]

Quote :
Your medical plan is facing an unexpected expense, so you probably are, too. It’s a new, $63-per-head fee to cushion the cost of covering people with pre-existing conditions under President Obama’s health care overhaul.

The charge, buried in a recent regulation, works out to tens of millions of dollars for the largest companies, employers say. Most of that is likely to be passed on to workers.
Employee benefits lawyer Chantel Sheaks calls it a “sleeper issue” with significant financial consequences, particularly for large employers.

“Especially at a time when we are facing economic uncertainty, [companies will] be hit with a multimillion-dollar assessment without getting anything back for it,” said Mr. Sheaks, a principal at Buck Consultants, a Xerox subsidiary.
Quote :
The Obama administration says it is a temporary assessment levied for three years starting in 2014, designed to raise $25 billion. It starts at $63 and then declines.
Most of the money will go into a fund administered by the Health and Human Services Department. It will be used to cushion health insurance companies from the initial hard-to-predict costs of covering uninsured people with medical problems. Under the law, insurers will be forbidden from turning away the sick as of Jan. 1, 2014.
Quote :
The $25 billion fee is part of a bigger package of taxes and fees to finance Mr. Obama’s expansion of coverage to the uninsured. It all comes to about $700 billion over 10 years, and includes higher Medicare taxes effective this Jan. 1 on individuals making more than $200,000 per year or couples making more than $250,000. People above those threshold amounts also face an additional 3.8 percent tax on their investment income.

But the insurance fee had been overlooked as employers focused on other costs in the law, including fines for medium and large firms that don’t provide coverage.
Quote :
Employers already offering coverage to their workers don’t see why they have to pay into the stabilization fund, which mainly helps the individual insurance market. The redistribution puts the biggest companies on the hook for tens of millions of dollars.

“It just adds on to everything else that is expected to increase health care costs,” said economist Paul Fronstin of the nonprofit Employee Benefit Research Institute.

60 Comments

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L11: My Level Goes to 11
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#2
It's actually easy to predict costs for people with existing conditions. They are farking expensive.
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L10: Grand Master
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#3
I somehow doubt the cushion for a mere couple of years is big enough.. I can easily see them saying it's greater than anticipated and start adding on $50 each and every year (probably increasing slightly year over year).
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L11: Monkey's Apprentice
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#4
Quote from DJPlayer View Post :
I somehow doubt the cushion for a mere couple of years is big enough.. I can easily see them saying it's greater than anticipated and start adding on $50 each and every year (probably increasing slightly year over year).
That's how it starts and 3 years later they then sneakily change their tune and decide that it needs to be a permanent fee.
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#5
Seeing as that the cost of uninsured is somewhere around $480 for individual, $1300 for family, i'd say this will be a fantastic deal once the mandatory coverage kicks into effect.
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#6
A tax so to speak?
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#7
Quote from politicaljunkie View Post :
Seeing as that the cost of uninsured is somewhere around $480 for individual, $1300 for family, i'd say this will be a fantastic deal once the mandatory coverage kicks into effect.
I was going to say -- the last time I looked at health care coverage it was a lot more than $63 per person.
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Level 69: Grand Master
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#8
Quote from Xygonn View Post :
It's actually easy to predict costs for people with existing conditions. They are farking expensive.
Do you care if people with existing conditions are covered or not? Should they be entitled to coverage from a moral stand point?
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L10: Grand Master
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#9
Quote from CyberGuy View Post :
Do you care if people with existing conditions are covered or not? Should they be entitled to coverage from a moral stand point?
Do you care if there are people starving in the rest of the world or even at home? What about others dying of malaria or other diseases when there are treatments yet they can't afford them? Did you care enough about the genocide taking place in Albania, the Sudan, Burma, etc. to do something personally about it? I personally think that basic rights like the right to live are more important than medical care. I don't think anyone here would suggest that it wouldn't be great to help everybody in the entire world. The problem however is that it's just not financially viable. Now, that doesn't make it right, but it does make it what it is. Who gets to say where we draw the line? Oh ya... nm.
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L11: My Level Goes to 11
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#10
Quote from CyberGuy View Post :
Do you care if people with existing conditions are covered or not? Should they be entitled to coverage from a moral stand point?
No. No.
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#11
Quote from LivninSC View Post :
I personally think that basic rights like the right to live are more important than medical care.
Why not shorten the life of the leechers?

Quote :
Who gets to say where we draw the line? Oh ya... nm.
The voting populace.
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#12
Quote from CyberGuy View Post :
Do you care if people with existing conditions are covered or not? Should they be entitled to coverage from a moral stand point?
Entitled? Did you notice that the original entitlements (life, liberty, pursuit of happiness) are achieved by government getting out of the way. You are entitled to not have things TAKEN. You are not entitled to things people have to GIVE you.
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L10: Grand Master
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#13
Quote from WindySummer View Post :
Why not shorten the life of the leechers?

The voting populace.
Exactly. Good to know that the US as a whole would rather people die a horrible death when there is treatment readily available or be brutally enslaved, raped and killed like those in Albania, Sudan, or Burma so someone can have healthcare.

How great are we Wink
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#14
Time to put away the hyperbolic nonsense.

No one knows what the future beholds for the health of their family, nor does anyone have an exact figure for the cost of ACA.

How many people would not do everything in their power to keep their child alive?
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L11: My Level Goes to 11
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#15
Quote from WindySummer View Post :
Time to put away the hyperbolic nonsense.

No one knows what the future beholds for the health of their family, nor does anyone have an exact figure for the cost of ACA.

How many people would not do everything in their power to keep their child alive?
I would not rob another man at gunpoint.
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