Notes

Medical care Reform - Busting The 3 Biggest Myths Of ObamaCare

Within the last few months we've seen many Health Care Reform rules and regulations becoming introduced by the Health and People Services Department. Every time that occurs, the media gets hold of it and all kinds of posts are written in the Wall Street Journal, the New York Times, and the TV network news packages talk about it. All the industry experts start talking about the pros and cons, and what it means to help businesses and individuals.


The problem with this is, many times just one writer looked at the regulation, and wrote a piece concerning this. Then other writers start employing pieces from that first post and rewriting parts to match their article. By the time the knowledge gets widely distributed, the actual regulations and rules acquire twisted and distorted, and what actually shows up in the music sometimes just doesn't definitely represent the reality of the actual regulations say.


There's a lot of belief about what is going on with ObamaCare, and one of the things that I've truly noticed in discussions with consumers, is that there's an underlying set of myths that people have got about health care reform in which just aren't true. But because of all they've read in the media, people believe these myths are actually true.


Today we're going to talk about 3 myths I hear most often. Not everybody believes these misguided beliefs, but enough do, as well as others are unsure what to consider, so it warrants dispelling these types of myths now.


The first one is the fact that health care reform only has effects on uninsured people. The second the first is that Medicare benefits along with the Medicare program isn't those affected by health care reform. And then the last one is that medical reform is going to reduce the charges of healthcare.


Health Care Reform Only Affects Uninsured


Let's take a look at the first myth concerning health care reform only impacting uninsured people. In a wide range of the discussions I have along with clients, there are several expressions each uses: "I already have coverage, therefore i won't be affected by ObamaCare, very well or "I'll just keep my grandfathered health insurance plan, " and the last 1 - and this one I can give them a little bit of leeway, since part of what they're declaring is true -- is "I have group health insurance, and so i won't be affected by health care change. "


Well, the reality is that health care reform is actually planning to affect everybody. Starting with 2014, we're going to have a totally new set of health plans, and those plans have very prosperous benefits with lots of extra features how the existing plans today may offer. So these brand-new plans are going to be higher cost.


Medical care Reform's Effect On People With Health coverage


People that currently have health insurance might be transitioned into these new plans sometime in 2014. Hence the insured will be directly afflicted with this because the health options they have today are going away, and they will be mapped in to a new ObamaCare plan inside 2014.


Health Care Reform Influence on The Uninsured


The uninsured have an additional issue in that if they don't get health insurance inside 2014, they face a new mandate penalty. Some of the balanced uninsured are going to look at that charges and say, "Well, the penalty is 1% associated with my adjusted gross income; I actually make $50, 000, thus I'll pay a $500 penalty or $1, 000 for health insurance. In that case I will just take the penalty. " But either way, they will be instantly affected by health care reform. Over the mandate it affects the actual insured as well as the uninsured.


Health-related Reform Effect On People With Grandfathered Health Plans


People that have grandfathered health insurance plans are not going to end up being directly affected by health care reform. But because of the life circuit of their grandfathered health program, it's going to make those plans more costly as they discover that there are plans available now that they can quickly transfer to that have a livlier set of benefits that would be a lot more beneficial for any chronic medical issues they may have.


For people who remain in those grandfathered plans, the pool of subscribers in the plan are going to start to reduce in size, and as that happens, the cost of these grandfathered health insurance plans will increase even faster than they are now. Therefore , people in grandfathered health plans will also be influenced by ObamaCare.


get more info on People With Group Health Insurance


The past one, the small group market, is going to be the most notably affected by health care reform. Even though the medical reform regulations predominantly influence large and medium-sized firms, and companies that have 55 or more employees, smaller organizations will also be affected, even though could possibly be exempt from ObamaCare itself.


What exactly many surveys and polls are starting to show is the fact some of the businesses that have ten or fewer employees will look seriously at their option to drop health insurance coverage altogether, and no longer go as an expense of the corporation. Instead, they will have their employees get health insurance through the health coverage exchanges.


In fact , some of the insurers are now saying they predict that up to 50% regarding small groups with 10 or fewer employees will certainly drop their health insurance approach sometime between 2014 and 2016. That will have a very significant effect on all people who have group health insurance, especially if they're in a single of those small companies that will drop health insurance coverage.


A possibility just uninsured that are going to have health care reform, everybody will probably be impacted.


Health Care Reform Will Not Affect Medicare


The next fantasy was that health care reform would not affect Medicare. This method is kind of funny due to the fact right from the very get-go, the highest cuts were specifically directed at the Medicare program. Once you look at Medicare's portion of the entire federal, you can see that in 1970, Medicare was 4% from the U. S. federal budget, and by 2011, it had produced to 16% of the federal government budget.


If we look at it throughout the last 10 years, from 2002 in order to 2012, Medicare is the speediest growing part of the major entitlement programs in the federal government, and grown by almost seventy percent during that period of time.


Because of how big Medicare is and how rapidly it's growing, it's one of many key programs that ObamaCare is trying to get a handle with, so it doesn't bankrupts typically the U. S. Medicare will be impacted, and in fact your initial cuts to Medicare seem to have been set at about $716 billion.


Medicare Advantage Cuts As well as the Effects


Of that $716 billion cut, the Medicare Advantage program gets cut the most, and may see the bulk of the effects. Precisely what website going to do is boost the premiums people pay for all their Medicare Advantage plans, and reduce some great benefits of those plans.


Increased Medicare advantage plans Costs


Right now, many people select Medicare Advantage plans because they have zero premium. When given a choice on Medicare programs, they view it as an easy choice because it's a free program for them, "Sure, We get Medicare benefits, My spouse and i don't pay anything for doing it; why not. " Now they'll see Medicare premiums start to climb, and go via zero to $70, $80, $90, $100. We've currently seen that with some on the Blue Cross Medicare Advantage strategies this year. It's going to get worse grow older go forward in the future.


Reduced Medicare Advantage Benefits


In order to minimize the premium increases, what many Medicare Advantage plans will do is actually increase the copayments, increase the deductibles, and change the co-insurance rates. In read more to keep the premiums decrease, they'll just push numerous costs onto the Medicare recipients. Increased premiums in addition to reduced benefits are what exactly we're going to see coming in Medicare advantage policies plan.


Fewer Medicare Physicians


And then if that had not been bad enough, as Medicare physicians begin receiving lower in addition to lower reimbursements for Medicare people, they're going to stop having new Medicare Advantage recipients. We will see the pool of medical professionals to support people in Trattare starting to shrink as well, until changes are made over the course of your next five years. So Medicare is going to be affected, and it's getting affected dramatically by health care reform. Everybody's kind of on pins and needles, waiting to see after that happen there.


Health Care Reform Will Reduce Healthcare Prices


The last one, and likely the biggest myth about medical reform, is everybody reasoning that ObamaCare will reduce health care costs. That's completely hogwash. Early on in the process, when they ended up trying to come up with the rules in addition to regulations, the emphasis and the other of the goals for change was to reduce healthcare fees.


But somewhere along the collection, the goal actually moved from cost reduction to help regulation of the health insurance market. Once they made that transition, they pushed cost reductions to the back burner. There are some small cost reduction components throughout ObamaCare, but the real focus is on regulating health care insurance. The new plans, for example , have much richer benefits than many plans today: livlier benefits means richer price ranges.


Health Care Reform Subsidies: Will probably They Make Plans Affordable?


Many men and women hope, "The subsidies are going to make health insurance plans less costly, won't they? " Sure, in some cases the subsidies will assist you to make the plans affordable for individuals. But if you make $1 too much, the affordable plans are suddenly going to become extremely expensive and can cost thousands of dollars more over the course of a year. Will a new subsidy make it affordable or not affordable is really subject to debate at this point in time. We're going to need to actually see what the rates look like for these plans.


New Health Care Reform Taxes Passed On To Consumers


Then there are a whole ton of new healthcare reform taxes that have been extra into the system to help buy ObamaCare. That means everybody who has a health insurance plan, whether it's in a large group, a small group, or just as an personal, is going to be taxed in order to buy the cost of reform. Health care reform adds various taxes about health care that insurance companies need to collect and pay, however they're just going to complete it right through to us all, the consumer.


Mandate Won't Lower Uninsured Very Much


During the primary years of health care reform, the mandate is actually pretty weak. The mandate says which everyone must get medical insurance or pay a penalty (a tax). What that's going to accomplish is make healthy people just sit on the sidelines and wait for the mandate to begin the point where it finally makes them to buy health insurance. Those with chronic health conditions that could hardly get health insurance previously, are going to jump into health care at the beginning of 2014.


At the end of that will year, the cost for the ideas is going to go up in 2015. I can guarantee that that's going to take place, because the young healthy everyone is not going to be motivated to get into the actual plans. They won't see the benefit for joining an expensive plan, whereas the chronically ill individuals are going to get into the ideas and drive the costs right up.


Health Care Reform's Purpose Is simply a Matter Of Semantics


The last part of this is, one of the key things - and it's funny, I saw it for the first 2 yrs, 2010, and '11 instructions one of the key things that ended up being listed in the documentation from Obama administration was: Health Care Reform would help reduce the cost which we would see in the future whenever we do nothing today. That was stressed over and over again. That was how they shown health care cost reduction, that this would reduce the future charges. Not today, but it would likely reduce what we would pay in the future if we did nothing about it now.


Well, which is great, 10 years from now we're going to pay less than we might have paid. And we all know the way accurate future projections usually are. In the meantime, we're all paying more today, and we're going to fork out even more in 2014 plus much more in 2015 and 2016. People are going to be pretty raise red flags to about that.


Conclusion


Those 3 myths, that health care change is only going to affect the uninsured, so it won't affect Medicare beneficiaries, and that ObamaCare is going to lower healthcare costs, are just in which. They are myths. There's nothing in their eyes.


It's really important that you pay attention to can be happening with health care reform, because there are more changes which can be coming as we go through this current year, 2013. Knowing how to position yourself so that you're in the suitable spot to be able to make the finest decision at the beginning of 2014 will likely be really important for everybody.

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