One of the main goals of the Affordable Care Act (ACA), or Obamacare, is to decrease rising health care costs. The ACA allocated $10 billion to establish the Center for Medicare and Medicaid Innovation, a government organization charged with centrally planning health care delivery.
After the U.S. Supreme Court's recent decision on King versus Burwell, proponents of the Affordable Care Act (ACA), or Obamacare, have not only claimed victory, but are telling the rest of the country to get over it and just accept the ACA as the law of the land. They claim that millions of people have health insurance through the ACA, that the uninsured rate is dropping and that premium price increases, at least in the individual market, are slowing.
This morning the Supreme Court of the United States (SCOTUS) ruled on the latest challenge to the Affordable Care Act (ACA), or Obamacare - the King v. Burwell lawsuit. You can read about the ruling here. This suit deals with the legality of people receiving subsidies in the health insurance exchange established by the federal government. Some 36 states elected to use the federal exchange rather than set up their own exchange. Washington state is one of the 14 that established a state exchange.
Yesterday, the Centers for Medicare and Medicaid Services (CMS) released the premium requests for health insurance companies for 2016. The information applies to plans compatable with the Affordable Care Act (ACA), or Obamacare, and those sold through the state and federal health insurance exchanges. CMS organized the requests on a state by state basis. Only requests of a 10 percent or more increase were required to be submitted.
The Washington state legislature legalized Association Health Plans (AHPs) in 1995. The idea was to allow employers with 50 or fewer empoyees to buy high quality and affordable health insurance in the "large group market." Small employers could band together and form an AHP as long as they were in related industries.
Monday marked the fifth anniversary of President Obama signing the Affordable Care Act (ACA or Obamacare) into law. The Administration is touting the "success" of the legislation. What is the reality?
Americans continue to oppose the law. Real Clear Politics averaged six recent polls and found that 52.5 percent opposed the ACA and 42.5 percent approved of the law. This ten percent difference remains constant since the bill was signed into law.
Republicans in both the U.S. House and Senate released proposed budgets this week. (Here)(Here)The House version cuts spending by $5.5 trillion and balances the budget in nine years. The Senate proposal cuts $5.1 trillion in spending and balances the budget in ten years. There is currently controversy within the Republican Party based on the amount of defense spending. (Here)
Local taxpayers could face a large tax increase when the Affordable Care Act’s (ACA) “Cadillac Tax” on health insurance plans begins in 2018. This new tax will impose a 40 percent excise tax on health insurance plans the ACA sees as too generous, defined as $10,200 per year for an individual and $27,500 per year for a family. The cost of a health insurance plan above those amounts will be subject to the 40 percent tax.
Tomorrow, the U.S. Supreme Court will hear another case dealing with the Affordable Care Act (ACA) or Obamacare. This case, King versus Burwell, deals with the legality of the Internal Revenue Service giving subsidies to people who purchase health insurance in the federal health insurance exchange. Thirty six states either chose to use the federal exchange or were unsuccessful in establishing their own exchange.
The Washington State Health Benefit Exchange released the latest sign-up numbers for 2015. The goal was 213,000 total private-plan enrollees this year, which would include the 140,000 enrollees from 2014 and 83,000 new enrollees. The deadline for applications is February 15.
The numbers are not even close. To date, only 87,000 people (62%) have re-enrolled and only 40,000 individuals are new enrollees this year (48% of the anticipated). In other words the state exchange is 40% below the predicted enrollment.
The non-partisan Congressional Budget Office (CBO) recently released its latest estimates on the projected cost of the Affordable Care Act or Obamacare. (Available at www.cbo.gov) The CBO's original ten year estimate in 2010 was $940 billion. Its latest estimate is for the next four years (until 2019) and at $571 billion is evidently 20 percent lower than the original budget for that period.