Tag Archives: Obamacare

Obamacare 2017 Open Enrollment

The Open Enrollment Period for obtaining healthcare coverage through the ACA Health Insurance Marketplace is November 1, 2016 through January 31, 2017. However, to begin coverage January 1, 2017, you need to complete your enrollment by December 15, 2016.

As in previous years, depending on your income, you may be eligible for subsidies for monthly premiums. About 85% of ACA enrollees do qualify for federal tax credit subsidies.

The Kaiser Family Foundation (KFF)  provides an easy-to-use, free tool   for calculating your monthly premiums and subsidies:

http://kff.org/interactive/subsidy-calculator/?utm_campaign=KFF-2016-The-Latest&utm_source=hs_email&utm_medium=email&utm_content=36914797&_hsenc=p2ANqtz-9i9tCWA45-q0Zj72lKxH_CvDBI40JCd_m9ODVftpiDnBz3wsqGaMwgCrrhHqn1M9b5buVUplnt8e0FGnW4uSJAFP8NRw&_hsmi=36914797#state=ca&zip=90402&income-type=dollars&income=40%2C000&employer-coverage=0&people=1&alternate-plan-family=individual&adult-count=1&adults%5B0%5D%5Bage%5D=62&adults%5B0%5D%5Btobacco%5D=0&child-count=0&child-tobacco=0

More Difficult to Find Affordable, Comprehensive Plans

Unfortunately, there are several unfavorable factors impacting Obamacare coverage for 2017, including the withdrawal of some large insurers from offering plans in selected states.

In general, 2017 premium increases will be larger than they were in 2016. Rates will vary by geographical area and the type of plan selected. This trend is not limited to Obamacare plans, but is also impacting individuals who have coverage through their employers. Deductibles and copayments are continuing to rise.

The other trend that is continuing is the narrowing of networks. There are both fewer doctors available in general and contraction of choice in specialists. Again, this is the situation for both Obamacare and employer plans.

A newer trend for Obamacare is the limited availability of independent insurance brokers to assist with making plan choices. These agents work on a commission basis, and now insurers are either reducing or no longer paying commissions to agents for helping people obtain ACA coverage. For example, Cigna, Aetna and UnitedHealthcare have dropped commissions in many states. As a result, a growing number of brokers are declining to offer their services to new enrollees, although some will continue to assist established clients.

For 2017 coverage, it may take a bit more time to evaluate your options and find a plan that is best suited to your needs. Remember, there is still help available from healthcare.gov and from individual insurers.

 

 

Employers Continue Their Cost-Shifting to Workers

With the news focused on Affordable Care Act (ACA) health insurance plans, it is often forgotten that nearly half (49%)  of  people under 65 receive their health insurance coverage from their employers or are covered by their spouse’s plan.

Patients, even those with employer-sponsored health plans, may face another condition after they are discharged from a hospital stay: acute sticker shock.

Out-of-pocket hospitalization costs rose 37% from 2009 to 2013, with the average patient paying more than $1,000 per hospital visit, according to a study conducted by the University of Michigan and published in JAMA Internal Medicine.

The survey, which was conducted before many of the Obamacare provisions were in place, including the 2014 health insurance marketplaces, examined 7.3 million hospital stays from 2009 to 2013, using data from three of the largest insurers: Aetna, United Healthcare and Humana.

Driven by an 86% rise in deductibles and a 33% increase in coinsurance — the part of the hospital bill that patients are expected to pay —out-of-pocket (OOP) costs rose faster than health insurance premiums. Annually, OOP spending increased 6.5%. In contrast, health insurance premiums increased 5.1%.

The data demonstrate that employers were shifting more costs to patients, according to Emily Adrion, lead author of the study. About 85% of health insurance benefit packages required coinsurance for inpatient hospitalizations, in addition to meeting an annual deductible. Patients with individual plans paid more than $1,800 on average, the researchers found. In contrast, those with consumer-directed plans — high deductible policies paired with health savings accounts (HSA) —OOP hospital costs topped $1,200.

Obamacare 6 Years Later

With all the political tirades focused on Obamacare and ongoing Supreme Court filings designed to dismantle one or more provisions,  the actual achievements of the Affordable Care Act (ACA) have been overshadowed.

Enrollment of 20 Million Previously Uninsured
As of early 2016, 20 million uninsured adults are now covered by health insurance, according to the Department of Health and Human Services. This breaks down to 17.7 million adults enrolled by the insurance exchanges and Medicaid and another 2.3 million young adults, aged 19 to 25 years, able to remain on a parent’s plan until age 26.

The overall uninsured rate has been reduced by nearly half in the last 4 years, from 20.3% in 2012 to the current 11.5%.  All ethnic groups have benefited. Hispanic uninsureds have decreased from 41.8% to 30.5%, Blacks from 22.4% to 10.6% and Whites from 14.3% to 7%.

Majority of Americans Deny They Benefit From ACA
What many don’t realize, says Drew Altman, CEO of the noted health research organization, the Kaiser Family Foundation, is  that those with insurance exchange coverage are just a small portion of the total U.S. population that has health insurance coverage. In contrast Continue reading Obamacare 6 Years Later

New Obamacare Campaign Seeks to Enroll Young People

Although the Affordable Care Act (ACA) has been the law of the land since 2010, 40% of Americans are unaware that the ACA is law, according to a recent Kaiser Family Foundation survey. Many of the provisions of the ACA are already in place.

Despite the lack of awareness, efforts around the “individual mandate” provision, which will require most people to have health insurance on January 1, 2014, are  Continue reading New Obamacare Campaign Seeks to Enroll Young People