04:02:00
If people want the federal government to pay for stuff, that cash has to come from somewhere. That means taxes, and the tax required to pay for people with preexisting problems to get insurance under the Affordable Care Act will cost everyone with insurance $63 per year.
Preexisting conditions tax to start in a year
It is definitely true that people with preexisting problems, or preexisting medical problems, probably should be able get insurance coverage. If they're willing to pay premiums, why shouldn't they be allowed to have it?
It is not cheap to add somebody with preexisting problems to insurance though. In fact, it is really expensive because it is known a lot of medical treatment and coverage will be needed. The cash has to come from someplace now that the Affordable Care Act needs insurance agencies give coverage to those with preexisting problems, thanks to the Obama administration.
People who already have insurance and businesses getting it are now going to end up paying the extra costs, according to CBS. Between 2014 and 2017, $25 billion needs to be raised somehow, though the requirement does not start until 2014.
Paying for preexisting problems yearly
Buried in the ACA's text is a fee that has to be imposed on everyone that presently 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 employers.
If corporations pass on the fee to employees, then employees will have to pay $5.25 a month. That may not lead to getting payday loans or change your lifestyle, but it could still hurt. It expenses $63 per insured person per year, according to Salon.com. Companies will pay higher bills if they are larger and smaller bills if they are lower.
The good news is that the fee will drop from $63 in 2014 to $50 the next year. Yearly, it will decrease until 2017 when it phases out altogether.
Just a little bit of Robin Hood
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 everyone is going to be able to get coverage. The ACA requires that another $700 billion be elevated in the next ten years on top of the $25 billion for those with preexisting problems.
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 elevated premiums on health insurance, compared to 10 percent last year. Everyone with insurance can probably expect to pay more in coming years, for everybody else.
Preexisting conditions tax to start in a year
It is definitely true that people with preexisting problems, or preexisting medical problems, probably should be able get insurance coverage. If they're willing to pay premiums, why shouldn't they be allowed to have it?
It is not cheap to add somebody with preexisting problems to insurance though. In fact, it is really expensive because it is known a lot of medical treatment and coverage will be needed. The cash has to come from someplace now that the Affordable Care Act needs insurance agencies give coverage to those with preexisting problems, thanks to the Obama administration.
People who already have insurance and businesses getting it are now going to end up paying the extra costs, according to CBS. Between 2014 and 2017, $25 billion needs to be raised somehow, though the requirement does not start until 2014.
Paying for preexisting problems yearly
Buried in the ACA's text is a fee that has to be imposed on everyone that presently 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 employers.
If corporations pass on the fee to employees, then employees will have to pay $5.25 a month. That may not lead to getting payday loans or change your lifestyle, but it could still hurt. It expenses $63 per insured person per year, according to Salon.com. Companies will pay higher bills if they are larger and smaller bills if they are lower.
The good news is that the fee will drop from $63 in 2014 to $50 the next year. Yearly, it will decrease until 2017 when it phases out altogether.
Just a little bit of Robin Hood
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 everyone is going to be able to get coverage. The ACA requires that another $700 billion be elevated in the next ten years on top of the $25 billion for those with preexisting problems.
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 elevated premiums on health insurance, compared to 10 percent last year. Everyone with insurance can probably expect to pay more in coming years, for everybody else.
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