Beginning in 2014, every person with insurance coverage through an employer will have to fork over $63 per year to cover the price of getting insurance for people with preexisting problems. It's a part of the Affordable Care Act, one of the many costs that law will impose.
Tax to cover preexisting conditions takes effect in 2014
People should be able to get insurance coverage if they are willing to pay premiums no matter what the situation is. Even people with preexisting medication problems should have the ability to get covered.
It is not cheap to add somebody with preexisting problems to insurance though. In fact, it is really expensive because it is known a ton of medical treatment and coverage will be needed. The cash has to come from someplace now that the Affordable Care Act requires insurance agencies give coverage to those with preexisting conditions, thanks to the Obama administration.
The requirement will not start until 2014, but between 2014 and 2017, $25 billion will need to be elevated to pay for all of it. The only people left to pay for the additional costs are those who already have insurance and the employers who are forced to purchase it for workers.
Only $63 annually
Buried in the ACA's text is a fee that has to be imposed on everyone that currently is insured, to cover those with preexisting conditions. The fee is going to be assessed on every business that provides insurance for its employees, much of which will likely be passed on to the roughly 190 million people who get insurance through their companies.
The fee will differ by the business; large firms will get the largest bills, smaller businesses will get smaller bills from Uncle Sam. The fee is $63 per insured person, which according to Salon.com is assessed annually. Assuming all of it is passed on to employees, that's an extra $5.25 per month. Not exactly the main difference between the lifestyle of Croesus and starving in the street and taking payday loans just to pay the rent, but still a dent.
In 2017, the fee will phase out entirely, and it will drop annually starting at $63 per person in 2014 to $50 the next year. The fee keeps going down.
Should be called the Robin Hood bill
It seems like a really nice idea to help get health insurance for other people, but lots of people will have to put even more in if every person is going to be able to get coverage. The ACA needs that another $700 billion be raised in the next ten years on top of the $25 billion for those with preexisting conditions.
As a result of the health care law, premiums have been starting to slowly go up. For instance, According to the Washington Post, HR consultancy Mercer found in a recent survey this year that 12 percent of employers with at least 500 workers have raised premiums on health insurance, compared to 10 percent last year. Any person with insurance can most likely expect to pay more in coming years, for every person else.
Tax to cover preexisting conditions takes effect in 2014
People should be able to get insurance coverage if they are willing to pay premiums no matter what the situation is. Even people with preexisting medication problems should have the ability to get covered.
It is not cheap to add somebody with preexisting problems to insurance though. In fact, it is really expensive because it is known a ton of medical treatment and coverage will be needed. The cash has to come from someplace now that the Affordable Care Act requires insurance agencies give coverage to those with preexisting conditions, thanks to the Obama administration.
The requirement will not start until 2014, but between 2014 and 2017, $25 billion will need to be elevated to pay for all of it. The only people left to pay for the additional costs are those who already have insurance and the employers who are forced to purchase it for workers.
Only $63 annually
Buried in the ACA's text is a fee that has to be imposed on everyone that currently is insured, to cover those with preexisting conditions. The fee is going to be assessed on every business that provides insurance for its employees, much of which will likely be passed on to the roughly 190 million people who get insurance through their companies.
The fee will differ by the business; large firms will get the largest bills, smaller businesses will get smaller bills from Uncle Sam. The fee is $63 per insured person, which according to Salon.com is assessed annually. Assuming all of it is passed on to employees, that's an extra $5.25 per month. Not exactly the main difference between the lifestyle of Croesus and starving in the street and taking payday loans just to pay the rent, but still a dent.
In 2017, the fee will phase out entirely, and it will drop annually starting at $63 per person in 2014 to $50 the next year. The fee keeps going down.
Should be called the Robin Hood bill
It seems like a really nice idea to help get health insurance for other people, but lots of people will have to put even more in if every person is going to be able to get coverage. The ACA needs that another $700 billion be raised in the next ten years on top of the $25 billion for those with preexisting conditions.
As a result of the health care law, premiums have been starting to slowly go up. For instance, According to the Washington Post, HR consultancy Mercer found in a recent survey this year that 12 percent of employers with at least 500 workers have raised premiums on health insurance, compared to 10 percent last year. Any person with insurance can most likely expect to pay more in coming years, for every person else.
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