Posted on 02/25/2014 12:20:07 PM PST by Brad from Tennessee
Yesterday, the Obama Administration’s Centers for Medicare and Medicaid Services released a six-page report predicting that Obamacare could cause premiums to increase for nearly two-thirds of small- to medium-sized businesses. “This results in roughly 11 million individuals whose premiums are estimated to be higher as a result of the ACA and about 6 million individuals who are estimated to have lower premiums,” CMS writes. But CMS’ projections almost certainly understate the problem, one that will begin to affect millions of workers in the second half of 2014.
The CMS premium report was a requirement imposed by Congress on the administration under the Department of Defense and Full-Year Continuing Appropriations Act of 2011. That law mandated that CMS “provide an estimate of the number individuals and families who will experience a premium increase and the number who will see a decrease” as a result of the Affordable Care Act.
But CMS only looked at one cost-increasing Obamacare provision: community rating. And they only looked at it for individuals employed by businesses with fewer than 100 employees: what’s called the “small group market.”
Here’s the background. Under Obamacare, all regulated insurance plans are required to charge people the same premium, regardless of health status. Insurers can charge different rates based on age (but only within a narrow range); tobacco use (smokers can be charged 50 percent more than non-smokers); geographic area (insurers can charge people different rates based on regional demographic variation); and whether the plan is for a single individual or a family. . .
(Excerpt) Read more at forbes.com ...
uh...
Newsflash!
In anticipation of O’care, Premiums went up 30% in 2012 and again in 2013.
We already gave at the office!
Exactly!
Next shoe to drop? Only if the media reports it. And ABC, NBC, and CBS are totally ignoring it.
Yup.
And a month after my company rolled out its compliant insurance program with fewer doctors higher deductibles, and much higher premiums, Il Duce waived the compliance requirements for another year (or did he? I’m losing track).
Already happened. My Daughter, her husband and my grandson live on East Coast. Their company sponsored heathcare premium “went up” over $800 per month for the 3 of them.
Sticker Shock indeed.
That is why many companies are dropping coverage they used to provide as part of employment packages. And of course the unintended (or was it?) consequence of cutting hours to less than full time so they can’t be forced to provide it.
How greedy of them, wanting to actually stay in business and make a profit! < /sarc >
Who - Who, I ask you, could POSSIBLY have predicted this?!?
I think the correct spelling is Il Douche.
Yeah, I figured it was so obvious I could do without it.
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