ObamaCare Survival Guide
In ObamaCare Survival Guide, Nick Tate explains that the goal of the bill is affordable health insurance for all U.S. citizens. Nearly 30 million people are uninsured, most of whom are young people, who don’t feel a need to be insured (they are generally healthy), and don’t want to pay for it. Mr. Tate affirms that most people will not be willing to pay for what they don’t need.
Insurance companies are mostly for the bill because they are aware they would have 30 million new customers, most of whom will be subsidized by the federal government, but there’s a few new rules for the insurance companies as well:
- No more lifetime limits on people or rejecting patients for preexisting conditions.
- Children up to age 26 may be added to parents’ policies.
- Insurers must keep tight medical loss ratios.
- No explicit price controls.
Senior Citizens on Medicare will have payment reductions to providers and Medicare supplemental insurance. These plans will be subsidized by the government. Providers will be reimbursed in smaller quantities, many are expected to opt out of caring for Medicare patients.
Millions of Americans (of the baby boom generation) are becoming eligible for Medicare. According to Mr. Tate these two things create a perfect storm of provider shortages. In Obamacare Survival guide, Nick Tate warns that U.S. Citizens should expect to have to have a hard time finding providers that accept Medicare and that they will have longer wait times for appointments.
How will cuts in Medicare be achieved?
An Independent Payment Advisory Board will be charged with cutting Medicare spending. The Board will consist of fifteen people, picked by the President. The fact that they are appointed, and not elected officials, is expected to mean that they would be more apt to make the necessary reforms to the Medicare program to ensure its survival.
MEDICAID: The most effective way to insure more Americans is through a large expansion of Medicaid. The eligibility rules will be lax.
EMPLOYERS: Employers with less than fifty full time employees are exempt from the requirement to provide employer insurance, if they do, they will get a tax credit. Employers with over fifty full time employees must offer affordable insurance. If they don’t, they may be penalized $2000 per employee.
INDIVIDUALS: Many will meet the mandate with an expansion of Medicaid. There are income limits, but the program does not require childless adults to receive benefits. Pregnant women, children, senior citizens and those with disabilities are all allowed.
HOW DOES THE GOVERNMENT KEEP TRACK OF WHO IS COVERED?
W-2 wage earners will see the premiums paid on their 2013 W-2. This will serve as notification to the IRS that you are covered.
In conclusion in ObamaCare Survival Guide, Mr, Nick Tate states that if you are covered by Medicaid, Medicare, or a State exchange, those institutions will report it to the government. Private policy holders will be required to report it themselves.