Category Archives: Obama Care

What is it going to cost? Who is going to pay?

By Roy Whited

Screen Shot 2013-09-04 at 9.40.57 AMThe information below was taken in part from the Ohio Department of Insurance news release of June 6, 2013 and a book by Nick J. Tate, Obama Care Survival Guide.

Health Insurance Costs to Increase Significantly Under Affordable Care Act
Plans filed with Department of Insurance Show Higher Costs for Ohio Consumers

COLUMBUS- The Ohio Department of Insurance released details of health insurance plans that insurers have submitted for approval to sell on the coming federal insurance exchange for Ohio. The Department’s preliminary analysis of the proposed plans for the individual market reveal that insurers expect the cost to cover health care expenses for consumers will significantly increase.

Based on a report released by the Society of Actuaries earlier this year, the Department estimated this increase is an average of 88 percent. While those costs do not specifically track with the premiums insurers charge individual customers, it is expected that these increases in costs will also translate to significant premium increases for many Ohioans.

In addition, there appears to be other bad news for seniors. Author Nick J. Tate’s book states that “According to the Congressional Budget Office- The non-partisan governmental agency that makes budgetary forecast- roughly 43 percent of the total $1 trillion dollar cost of Obama Care will come from cuts in Medicare spending over the next decade.”

Question: If 42 percent of $1 trillion is to come from cuts in Medicare spending, do you think that seniors will be getting more or less care?

Now, more than ever, individuals should consider developing a plan to protect and preserve their assets. For more information on this subject call the Cooper & Adel Law Firm and schedule a free consultation.

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DISCLAIMER – Every case is different because every case is different. This blog does not give legal advice. This blog does not create an attorney client relationship. You are not permitted to rely on anything in this blog for any reason. This blog is an entirely personal endeavor. Every person’s situation is different and requires an attorney to review the situation personally with you.
No attorney-client relationship is created by this site.

The use of the Internet, this blog or email for communication with this firm or any individual member of this firm does not establish an attorney-client relationship. Before we represent any client, the client and the attorney will sign a written retainer agreement.
If you do not have a written, signed retainer agreement with us, we are not representing you and will not be taking any action on your behalf.

 

The Effects of Obamacare on Labor Unions

By: Attorney Nathan Simpson

Screen Shot 2013-09-04 at 9.25.39 AMIn recent days, news outlets are reporting on a surprising unintended victim of Obamacare: Labor Union health plans. Forbes and The New York Times are reporting that Obamacare will have a drastic impact on both public and private sector labor unions, both traditional Democratic allies.

The law contains a hidden tax on so-called “Cadillac” health plans, which was sold to the American people as a tax on the health plans of wealthy executives. What most Americans did not know was that it would have the biggest impact on regular, hard-working Americans such as teachers, first responders, or factory workers with union contracts. Over the past few years, unions negotiated increases in health benefits in place of monetary compensation. This was a win-win for employees, who received better benefits, and employers, who benefited from preferential tax subsidies for offering health benefits.

Under Obamacare, however, these benefits are now in jeopardy. Many of the union plans qualify as “Cadillac” plans, and many of those that do not now will in the near future. “Cadillac” plans are set up to keep up with the rate of inflation – not the rising cost of health care. In tough economic times, employers both public and private will be unable to pay the Obamacare penalties to maintain quality health insurance plans, pushing employees to lower cost coverage options.

If you would like to learn more about how to protect yourself from the unintended consequences of Obamacare, contact Cooper, Adel & Associates today.

http://www.nytimes.com/2013/08/05/nyregion/health-care-law-raises-pressure-on-public-employees-unions.html?pagewanted=all

http://www.forbes.com/sites/theapothecary/2013/08/06/labor-unions-latest-problem-obamacares-cadillac-tax-harms-their-gold-plated-health-insurance-plans/

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DISCLAIMER – Every case is different because every case is different. This blog does not give legal advice. This blog does not create an attorney client relationship. You are not permitted to rely on anything in this blog for any reason. This blog is an entirely personal endeavor. Every person’s situation is different and requires an attorney to review the situation personally with you.
No attorney-client relationship is created by this site.

The use of the Internet, this blog or email for communication with this firm or any individual member of this firm does not establish an attorney-client relationship. Before we represent any client, the client and the attorney will sign a written retainer agreement.
If you do not have a written, signed retainer agreement with us, we are not representing you and will not be taking any action on your behalf.

 



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