Tag: Health Insurance

Health Care Reform – Busting The 3 Biggest Myths Of ObamaCare

In the last couple of months we’ve witnessed a number of Health Care Reform rules and regulations implemented from Health and Human Services Department. Health and Human Services Department. Each time that happens, the media is aware of it, and all sorts of stories are published by The Wall Street Journal, the New York Times, and the news channels on the television discuss the issue. Analysts begin talking of the benefits and drawbacks and what it means for both individuals and businesses.

The issue with this is that a writer was looking at the regulations and wrote an article about the regulation. Later, other writers begin making use of the material from the first article , and then rewriting them to make it fit their own. As the information is widely disseminated in the media, the actual rules and rules are confused and dissected and what shows in the media often isn’t the actual meaning of what rules say.

There’s a lot that’s misunderstood about the issues regarding ObamaCare One thing I’ve observed in conversations with clients is that there’s an undercurrent collection of myths that people have gathered about the health care reforms which are not factual. However, because of the information they’ve heard from the media, they believe that these myths are factual.

Today, we’ll talk about three myths I have heard the most often. Some people don’t believe in the myths mentioned, however a lot do and many aren’t sure what to think, so it’s worth to dispel these myths today.

The first is that health reform is only affecting people who are uninsured. The second can be said to mean that Medicare Benefits and Medicare program will not be affected by the health reform. The third is that the health reform is expected to lower the cost of healthcare.

Health Care Reform Only Affects Uninsured

Let’s examine the first myth that health care reform is that only affects uninsured persons. In the majority of conversations I have with my clients, I hear a number of words they make use of: “I already have coverage which means I’m not directly affected with ObamaCare,” or “I’ll simply keep my old health insurance plan,” and the last one, and I’m able to allow them a amount of room, since the idea they’re putting forth is actually true “I have health insurance from a group which means I will not be affected by the health reform.”

In reality, it’s that the health reform law is going to impact all of us. In 2014, we’ll be offered a new array of health insurance plans. And these plans will come with a wealth of benefits, with a lot of additional options that current plans do not offer. These new plans will come at a more expensive.

Health Care Reform’s Effect On People With Health Insurance

The people who have health insurance will have to be enrolled in the new plans around 2014. Therefore, the people who are insured would be affected directly since the health insurance plans they currently have will be canceled and will be transferred to an entirely newly created ObamaCare plan in 2014.

Health Care Reform Effect On The Uninsured

Uninsured individuals face another issue, which is that if they don’t have health insurance by 2014, they’ll be subject to penalties for not having insurance. Many of the healthy people who are uninsured will take a look at the penalty and think, “Well, the penalty is 1percent from my gross earnings and I earn $50,000, which means I’ll have to pay $500 penalty, or $1,000 to get health insurance. If that’s the case, I’ll pay any penalty.” However, regardless of the outcome they’ll suffer directly from the health reforms to the health system. By the mandate, it affects those who are insured, as well as those who are not insured.

Health Care Reform Effect On People With Grandfathered Health Plans

Individuals who have health insurance plans with grandfathered benefits will not have a direct impact from the reforms to health care. However, due to the life period of their health insurance plan grandfathered the plan will be made the plans more expensive as they realize that there are options accessible now that they can quickly transfer to with greater benefits that will be more beneficial to anyone with medical issues they be suffering from.

For those who remain in these grandfathered plans, the subscribers to the plan is likely to be reduced, and when that is the case the price of those health insurance plans grandfathered in will rise even more than they do now. So, those who are grandfathered into health plans are also going to be affected by ObamaCare.

Health Care Reform Effect On People With Group Health Insurance

The last , which is the small group marketplace is expected to be most directly affected by the health reform. Although the new regulations on health care mostly affect medium and large businesses, as well as those with 50 or more employees, smaller businesses will also be affected even though they’re exempted from ObamaCare the law.

What studies and surveys are beginning to suggest is that some of the companies with at least 10 employees are looking carefully at the option of remove health insurance completely and stop having it as an expense for the business. Instead, they’ll have their employees purchase insurance for their health through the exchanges for health insurance.