If people want the federal government to cover stuff, that money has to come from somewhere. That means taxes, and the tax required to cover people with preexisting conditions to get insurance under the Affordable Care Act will cost everyone with insurance $63 each year.
Giving every person insurance
It is certainly true that people with preexisting conditions, or preexisting medical conditions, probably should be able get insurance coverage. If they're willing to pay premiums, why shouldn't they be allowed to have it?
Because of the Affordable Care Act that was passed by the Obama administration, insurance companies can no longer exclude those with preexisting conditions. The cash has to come from somewhere to help pay for it though.
The requirement will not start until 2014, but between 2014 and 2017, $25 billion will have to be elevated to cover all of it. The only people left to cover the extra costs are those who already have insurance and the companies who are forced to purchase it for employees.
Only $63 annually
Every person presently insured will end up having to pay a fee to give insurance to those with preexisting conditions though. About 190 million people get insurance through their employers, and the fee will probably be passed on through them. Every business that gives insurance to employees will be paying, according to the ACA's text.
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 workers, 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 completely, and it will drop each year starting at $63 per person in 2014 to $50 the next year. The fee keeps going down.
Should be known as the Robin Hood bill
It seems like a really nice idea to help get health insurance for other people, but many people are likely to have to put even more in if every person is going to be able to get coverage. The ACA demands that another $700 billion be raised in the next ten years on top of the $25 billion for those with preexisting conditions.
Because 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. Everyone with insurance can most likely be ready to pay more in coming years, for every person else.
Giving every person insurance
It is certainly true that people with preexisting conditions, or preexisting medical conditions, probably should be able get insurance coverage. If they're willing to pay premiums, why shouldn't they be allowed to have it?
Because of the Affordable Care Act that was passed by the Obama administration, insurance companies can no longer exclude those with preexisting conditions. The cash has to come from somewhere to help pay for it though.
The requirement will not start until 2014, but between 2014 and 2017, $25 billion will have to be elevated to cover all of it. The only people left to cover the extra costs are those who already have insurance and the companies who are forced to purchase it for employees.
Only $63 annually
Every person presently insured will end up having to pay a fee to give insurance to those with preexisting conditions though. About 190 million people get insurance through their employers, and the fee will probably be passed on through them. Every business that gives insurance to employees will be paying, according to the ACA's text.
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 workers, 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 completely, and it will drop each year starting at $63 per person in 2014 to $50 the next year. The fee keeps going down.
Should be known as the Robin Hood bill
It seems like a really nice idea to help get health insurance for other people, but many people are likely to have to put even more in if every person is going to be able to get coverage. The ACA demands that another $700 billion be raised in the next ten years on top of the $25 billion for those with preexisting conditions.
Because 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. Everyone with insurance can most likely be ready to pay more in coming years, for every person else.
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