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While I'm by no means happy about the result (or the other one), I'm delighted that I no longer want to defriend every 3rd person that shows up on my facebook feed. "Hm I wasn't able to change someone's political opinion by posting the first 10 times? Oh I know, it must've been because I didn't use enough CAPS!" - From worst-selling book, SHOUTING TO WIN PEOPLE OVER. Half-kidding aside, there's one thing we have to discuss, and that's Obamacare (worst anagram ever for Patient Protection and Affordable Care Act.) I'm sure you're tired of hearing about it, but despite it popping up all over the place lately, do you really understand what it means for patients? If so, congrats: you're policy-wonkier than this newbie. If not, read and weep (for happy or sad reasons):
3. Individual Subsidies
"Households with incomes below 400 percent and above 133 percent of the federal poverty line (FPL) who are enrolled in insurance plans offered through the exchanges are eligible for premium assistance financed by the federal government" (1). Additionally, "those offered insurance at work who have premiums that exceed 9.5% of their income also could qualify to buy insurance on the new markets and get tax breaks to lower their costs" (2). (Find out how much your subsidy would be here: http://healthreform.kff.org/Subsidycalculator.aspx#incomeAgeTables)
4. Individual Penalties
A thorny part of the law is the "individual mandate" penalty on individuals whom do not purchase insurance, although this is understandably more offensive to relatively-young, healthy folks than the patient population. "In 2014, the annual penalty will be $95 per adult and $47.50 per child, up to a family maximum of $285 or 1 percent of family income, whichever is greater" (6). But if you're insistent on forgoing health insurance, there are a few ways to escape this penalty: "Using 2010 rules, (you would not be penalized if you have) less than $9,350 for an individual and $18,700 for a family" (3). "Higher-earning households may also be exempted from penalties for not buying health insurance if their out-of-pocket cost for private health insurance is more than 8 percent of their taxable income. This amount is for any additional cost after subtracting employer healthcare insurance contributions" (4). There are a few other exceptions such as if you're in between jobs, you can go without insurance for 3 months.
6. Employer Penalties
A huge flashpoint in the law is the penalty on employers of $2,000 per employee (if they have over 30 & under 50 employees, and the employee is eligible for a subsidy -- remember this part) if they don't offer government-qualified insurance plans. The creates the squirmy scenario of small businesses limiting hires and switching full-time positions to part-time to avoid the penalty. But a huge lawsuit is going on in Oklahoma right now which may change everything: "The text of the law stipulates that only state-based exchanges -- not federally run ones -- may distribute credits and subsidies" (5.) If this is deemed true, then if states don't offer a health insurance exchange, employers are no longer on the hook for the $2,000 penalty (since employees can't be offered subsidies.) Keep an eye on this one, especially if you're a small business owner or employee.
by Wonderlane
It's simple economics. If you want to move to the front of the line, bring cash.
---------------------------------------------------------------------------------Sources: 1. http://www.obamacarewatch.org/primer/exchanges-and-premium-subsidies 2. http://blogs.webmd.com/health-insurance-navigator/2012/11/how-will-health-reform-affect-myinsurance-costs.html 3. http://money.usnews.com/money/blogs/the-best-life/2012/07/13/how-the-health-insurancemandate-penalty-will-work 4. http://money.usnews.com/money/blogs/the-best-life/2012/07/13/how-the-health-insurancemandate-penalty-will-work 5. http://spectator.org/archives/2012/07/09/the-states-can-still-kill-obam 6. http://money.usnews.com/money/blogs/the-best-life/2012/07/13/how-the-health-insurancemandate-penalty-will-work 7. http://www.cato-at-liberty.org/california-officials-obamacare-exchange-will-hike-premiums-up-to-25/ 8. http://news.investors.com/110512-631989-obamacare-likely-to-up-health-usage-not-controlcosts.aspx 9. http://blogs.webmd.com/health-insurance-navigator/2012/11/how-will-health-reform-affect-myinsurance-costs.html 10. http://blog.pharmexec.com/2012/11/07/with-the-election-decideds-full-speed-ahead-on-obamacare/ 11. http://www.cbo.gov/sites/default/files/cbofiles/attachments/43471-hr6079.pdf 12. http://online.wsj.com/article/SB10000872396390443404004577578980699719356.html 13. http://www.humanevents.com/2012/10/15/obamacare-strikes-gain-new-limits-on-flexible-spendingaccounts-coming-jan-1/ 14. http://en.wikipedia.org/wiki/Patient_Protection_and_Affordable_Care_Act 15. http://www.huffingtonpost.com/2012/10/06/steve-king-obamacare_n_1944941.html