Kandi Mensing and Joel Harrison were guests on Let’s Talk, WBGZ 1570, out of Alton, Illinois on Monday, October 21. With all the misinformation and half-truths floating around media and the internet, they were there to clear up some common misconceptions about Obamacare and the Affordable Care Act. As we posted on our Facebook site, most Americans think the Affordable Care Act sounds like a much better deal than Obamacare–even though they’re the same thing!
WARNING: Listing to the recording of this show may make you more informed than 90% of Americans.
Some highlights of the 40-minute recording:
What is the penalty for an individual not having health insurance after January 1, 2014? Where did the $95 figure come from?
The penalty is $95 or 1% of your income. Therefore, if you make $30,000 a year, your penalty will be $300. $95 is the minimum penalty you can pay, and if you qualify for that amount, you also probably qualify for a subsidy, so contact a qualified health broker today to go through your options with you!
Remember, if you don’t have health insurance, an even greater detriment than the penalty is that you will be breaking the law. If you go to the emergency room with a break, heart attack, or wound, the hospital must stabilize you before releasing you, but you will not receive care beyond that point if you don’t have health insurance.
Are we going to see more part-time employees?
Yes. One of the side effects of the Affordable Care Act is that businesses with fewer than 50 employees total (there is a calculation small businesses need to do to figure out full-time equivalent) don’t need to offer health insurance. Some businesses may try to get around this by bumping their employees down to part time. This also effects municipalities like Parks and Recreations Departments around the country.
Is the government’s health care site up and running now?
Get Covered Illinois, our state site, has been “operational” since September. However, since it asks questions and then redirects the user to the federal site,www.healthcare.gov, and healthcare.gov has been down, users have been facing log-in and time out problems. Our healthcare experts have upgraded the situation to “Hit or Miss.”
I have a Medicare Plan with a Supplement. Are they going to force me to use Obamacare? Will my supplement bump me into the “Cadillac” category and cause high fines?
Medicase is less affected with the rate increase the individual health plans. People with individual insurance that does not currently offer the essential health benefits will see a rate increase up to 40% as their insurance is adjusted to offer these items.
The Cadillac tax does not come into effect until 2018, so you don’t have to worry about it yet.
Wait! What’s up with these “essential health benefits”? Are you telling me that I’m 65 and neither my wife nor I can have children, but we’re both paying for maternity?
Yes. Everyone has these essential health benefits on their plan, starting January 1, 2014. This includes maternity coverage. Basically, the healthy and inexpensive will pay to make up for the unhealthy and expensive. This way, no one pays more than 300% more than another person for coverage.
How to they verify compliance to ensure you’re on a qualified plan?
This will be done through your taxes. You will provide the IRS with proof of coverage.
I’m retired and on my wife’s plan at work. Can I use Obamacare to find a smaller price?
Yes! Now is the time to shop around. January 2, 2014 will be too late. You are paying for the privilege of being on a group plan, which can get expensive. There are many cost-effective strategies in individual plans that may save you money.
Remember, think outside the co-pay plans! They don’t always work for you. Find out your options and what’s best for you. A qualified broker can help you find options both inside and outside the Marketplace.
Let’s end with a quote from Joel Harrison: “Business owners know their business. They don’t know health insurance. I spend hours every single day buried in this stuff, and I understand it. It’s good to have someone on your team who knows more than you.”
WARNING: Listing to the recording of this show may make you more informed than 90% of Americans.
Some highlights of the 40-minute recording:
What is the penalty for an individual not having health insurance after January 1, 2014? Where did the $95 figure come from?
The penalty is $95 or 1% of your income. Therefore, if you make $30,000 a year, your penalty will be $300. $95 is the minimum penalty you can pay, and if you qualify for that amount, you also probably qualify for a subsidy, so contact a qualified health broker today to go through your options with you!
Remember, if you don’t have health insurance, an even greater detriment than the penalty is that you will be breaking the law. If you go to the emergency room with a break, heart attack, or wound, the hospital must stabilize you before releasing you, but you will not receive care beyond that point if you don’t have health insurance.
Are we going to see more part-time employees?
Yes. One of the side effects of the Affordable Care Act is that businesses with fewer than 50 employees total (there is a calculation small businesses need to do to figure out full-time equivalent) don’t need to offer health insurance. Some businesses may try to get around this by bumping their employees down to part time. This also effects municipalities like Parks and Recreations Departments around the country.
Is the government’s health care site up and running now?
Get Covered Illinois, our state site, has been “operational” since September. However, since it asks questions and then redirects the user to the federal site,www.healthcare.gov, and healthcare.gov has been down, users have been facing log-in and time out problems. Our healthcare experts have upgraded the situation to “Hit or Miss.”
I have a Medicare Plan with a Supplement. Are they going to force me to use Obamacare? Will my supplement bump me into the “Cadillac” category and cause high fines?
Medicase is less affected with the rate increase the individual health plans. People with individual insurance that does not currently offer the essential health benefits will see a rate increase up to 40% as their insurance is adjusted to offer these items.
The Cadillac tax does not come into effect until 2018, so you don’t have to worry about it yet.
Wait! What’s up with these “essential health benefits”? Are you telling me that I’m 65 and neither my wife nor I can have children, but we’re both paying for maternity?
Yes. Everyone has these essential health benefits on their plan, starting January 1, 2014. This includes maternity coverage. Basically, the healthy and inexpensive will pay to make up for the unhealthy and expensive. This way, no one pays more than 300% more than another person for coverage.
How to they verify compliance to ensure you’re on a qualified plan?
This will be done through your taxes. You will provide the IRS with proof of coverage.
I’m retired and on my wife’s plan at work. Can I use Obamacare to find a smaller price?
Yes! Now is the time to shop around. January 2, 2014 will be too late. You are paying for the privilege of being on a group plan, which can get expensive. There are many cost-effective strategies in individual plans that may save you money.
Remember, think outside the co-pay plans! They don’t always work for you. Find out your options and what’s best for you. A qualified broker can help you find options both inside and outside the Marketplace.
Let’s end with a quote from Joel Harrison: “Business owners know their business. They don’t know health insurance. I spend hours every single day buried in this stuff, and I understand it. It’s good to have someone on your team who knows more than you.”
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