Add Another 3.5% to that O'care Premium

[Yagents]

What happened to lowering premiums? This 3.5% didn't exist before O'care. Welcome to gov't efficiency, duplication and waste at it's best. What the article doesn't state, is it will probably be assessed in state exchanges also, since they too have to be self funded/operating starting 2015. DUH! on the bolded comment below. If this is part of the 20% of MLR, our commission on the exchange just shrank again.

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Health insurers who want to sell plans in states that refuse to create new U.S. health-care marketplaces will have to pay fees for the federal government to regulate them.
Insurers will pay a fee of 3.5 percent of their premiums to sell plans in a federally run health exchange, the government said today in a regulatory filing.

Insurers say that the fees will be passed onto their customers.

Insurers to Pay Fees in States Rejecting U.S. Health Law - Businessweek

 

[Ann H]

Welcome to gov't efficiency, duplication and waste at it's best.

You nailed it there.

 

[AllenChicago]

Here's YET ANOTHER newly uncovered fee that will get levied on insurance companies that participate in the Exchange.
Health care law surprise: $63 per-person fee for three years - CBS News

An insurance co VP said last week that this fee was designed to help bail-out companies who under estimate the medical expenses that will be incurred.

I wonder how long this reserve money pool will last if most companies under estimate their insured's medical costs? Since Exchange shoppers are likely to sort their insurance search results by price (low to high), there will be immense pressure on each insurer to sell as cheaply as possible to get a top spot in the long list of quotes.

 

[Newby]

Another one was in the news this morning. $20,000 in taxes to be raised by adding additional tax on artificial knees, hips, etc.

There is push back against Obama to kill it before it takes affect on 1/01/2013. The money would have to come from somewhere else. Otherwise all Med Sup plans will have to raise premiums to pay for it. Nice!
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Another one was in the news this morning. $20,000 in taxes to be raised by adding additional tax on artificial knees, hips, etc.

There is push back against Obama to kill it before it takes affect on 1/01/2013. The money would have to come from somewhere else. Otherwise all Med Sup plans will have to raise premiums to pay for it. Nice!

Did I say $20,000?

I meant twenty BILLION.

 

[somarco]

The medical device tax will impact almost everyone and is a job killer. Stryker will lay off 1700 by years end. Others will follow.

WOLF: Obamacare taxes mean Obamacare layoffs - Washington Times

The tax is on gross sales which translates directly in to higher consumer prices. And it is not just medical devices, it includes things such as tongue depressors and dental equipment.

Deal or no deal, ObamaCare taxes poised to hit next month | Fox News

While it will have some impact on Medigap plans, the impact will be greater on Medicare payments. Kind of self destructive for the folks in DC that want to "save" Medicare.

 

[ABC]

The storm of tax increasing from health care reform is coming.

It will be the middle class that gets hit with the increases.

If the subsidies work then the people that qualify will never pay more than 9.5% of household income toward premium.

 

[taterpeeler]

The storm of tax increasing from health care reform is coming.

It will be the middle class that gets hit with the increases.

If the subsidies work then the people that qualify will never pay more than 9.5% of household income toward premium.

and another 30% of income on deductibles and co insurance, add that to 20% or so in federal taxes and boom your at 60% gone.... its not the country that will go broke because of this law, its the American people

 

[Ann H]

The storm of tax increasing from health care reform is coming.

It will be the middle class that gets hit with the increases.

If the subsidies work then the people that qualify will never pay more than 9.5% of household income toward premium.

A brewing storm indeed. Subsidized people don't pay more than 9.5% of income on premiums. They never get a raise, because the upper-class job creators pay whopping taxes to subsidize premiums. The poor get health insurance, the rich can afford medical care, and the middle to upper-middle class is the new uninsured. Premiums spike and more people are beneath the 9.5% level. Taxes spike. And funny thing, medical costs and other root drivers never decreased at all.

 

[Yagents]

If you thought the 3.5% exchange fee was bad, or the $63/year reinsurance fee was manageable, or the cap gains tax, or medicare payroll tax, or the medical device fee might cause premiums to go up...........look at this doozy that trumps them all:

Health Insurance Tax: Making Health Care More Expensive - YouTube (817 views...how sad...probably all agents)

http://www.ahipcoverage.com/wp-content/uploads/2012/12/HealthInsuranceTaxIn9C9204.jpg

THE HEALTH INSURANCE TAX !! $100 Billion.......passed on to consumers.

 

[somarco]

Subsidized people don't pay more than 9.5% of income on premiums.

I wonder how many middle income folks, those under 150% of FPL, can really afford 9.5% of income on health insurance? Some are (or will be) working 2 - 3 part time jobs because their FT job with benefits was replaced with a PT job and no benefits.

All these new taxes on corporations roll downhill to the consumer. Odd how the Congress critters either never realize this, or just don't care.

Back when Hillary care was discussed in a town hall meeting, Herman Cain challenged Bill's numbers on the cost of health insurance.

Bill lost this debate.