A group of Affordable Care Act (ACA) opponents filed a lawsuit against the federal government on Thursday, in opposition to the law’s distribution of federal subsidies. The challengers, consisting of four individuals and three employers, are concerned that the new health care law subsidies unfairly burden individuals who live in one of the 33 states [...]
Initially the White House believed that the health insurance marketplaces would increase competition among insurers and provide consumers with more choices. Recently however, experts are starting to question just how much competition will exist in these marketplaces. Intended to facilitate the purchase of health insurance coverage by individuals and small businesses throughout the nation, marketplaces [...]
President Obama’s health care budget seeks to improve financial strength of the Medicare program by reducing tax subsidies for retirees earning higher income; the reasoning being that retirees earning more can afford to pay a larger share of expenses. Obama’s proposed budget would change Medicare’s premiums twofold: by raising the monthly amounts of those currently [...]
Under the Affordable Care Act (ACA), as of January 1, health insurance plans are to impose a cap on the amount of money consumers can be required to pay for out-of-pocket costs such as prescription drugs and co-payments. The amount of the cap is estimated to be about $6,250 for an individual policy holder. However, [...]
The rivalry among Democrats and Republicans continues over the effects of the Affordable Care Act. The major questions at hand are whether premiums will be increasing and if so, how much? This is a question that has remained at the center of the health care reform overhaul and both political parties have different responses. Most [...]
While the Obama Administration scrambles to implement upcoming policies of the Affordable Care Act, the nation watches closely to see just how the government handles many of the hurdles still standing in the way. 1. Short time frames A vast amount of work still remains to be done before exchanges are operational. Open enrollment takes effect [...]
We’re generally not into labels, but when it comes to health care reform, an exception must be made. In order to comply with the Affordable Care Act (ACA), business owners first need to determine whether their company is large or small in the eyes of the law. The ACA defines a business as “large” if [...]
One more place you can expect to see effects of the Affordable Care Act is on your W-2 forms this tax season. Under the ACA, all employers (excluding some small businesses) are now required to report the cost of your health care plan for informational purposes. According to the IRS, all employers that provide “applicable [...]
Ever heard of the CLASS Act? The Community Living Assistance Services and Supports program (CLASS) was signed into effect on January 1, 2011 to expand options for people who become disabled or require long term services. This provision would have been the United State’s first voluntary public long-term care insurance program but was essentially shut down [...]
Here’s hoping everyone had a warm and fuzzy Valentine’s Day unless you’re not into that kind of thing. In that case, perhaps a relaxing night in with some Ben & Jerry’s or sappy movies. In other love-related news, the Illinois Senate approved a bill Thursday, February 14 to legalize same-sex marriage. The bill passed at [...]
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