Obamacare and COBRA Insurance


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COBRAhealth.com Obamacare aka the new health care reform law, aka The Patient Protection and Affordable Care Act, aka PPACA. COBRA may become useless, if the health exchanges are successful. If 80% of employers end their group health insurance, COBRA is history. Fewer employees = more savings (per person) on health plan & COBRA admin cost. Higher premiums = lower COBRA participation. Obamacare requires employers to auto-enroll new hires into a health plan, giving them COBRA rights instantly. Fewer Insurers means less competition and higher COBRA premiums for participants. The CBO says health insurance premiums could rise 30%. COBRA is already unaffordable for most of the people eligible. People may quit more often, resulting in more COBRA administration.

  • I was talking to a plumber between jobs and he has knows he has a choice of COBRA AT $800/month. He never tried looking at the exchanges but I told him he can likely get the same exact coverage for a couple hundred a month while between jobs. His response ? F_CK obamacare. It sucks!. I said - ok then - go ahead and pay your $800 month. Insurance companies LOVE YOU!
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  • What a bunch of bunk fear mongering. I have Obamacare, it costs less than my COBRA insurance by 38%, has zero deductable and $1500 max OOP.
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  • Hi, take a look at the infographic we just created to learn more about COBRA insurance: http://www.slideshare.net/COBRADirect
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  • it gets worse. There are other areas Obamacare makes worse, 40% of doctors said they didn’t get to spend enough time with their patients to figure out what is really wrong with them, so they ordered tests and consultations to provide some of the answers. Except PPACA does not provide answers to get more care (more doctors + nurses to care for more patients), only adds to the rolls of insureds.
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  • Just wrote Obamacare and COBRA Insurance,
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Obamacare and COBRA Insurance

  1. 1. Obamacare and COBRA by Craig J. Casey of COBRAhealth.com
  2. 2. About Obamacare <ul><li>The new health care reform law, The Patient Protection and Affordable Care Act, is sometime referred to as PPACA and often referred to as Obamacare . </li></ul>COBRAhealth.com/Obamacare.html
  3. 3. Obamacare more affordable? <ul><li>The average employer health insurance premium rose by 9% in 2011, x3 the 2010 increase. Family premiums exceeded $15,000 per year for the first time. </li></ul>COBRAhealth.com/Obamacare.html
  4. 4. What is COBRA? <ul><li>The Consolidated Omnibus Budget Reconciliation Act or COBRA helps employees, retirees, spouses, and dependents the right to temporary continue of their group health insurance. </li></ul>COBRAhealth.com/Obamacare.html
  5. 5. Is COBRA Dead? <ul><li>If you are laid off, you may be eligible for a PPACA subsidy starting 2014. COBRA may become useless, especially in the Obamacare Ghetto states that set up </li></ul><ul><li>exchanges. </li></ul>COBRAhealth.com/Obamacare.html
  6. 6. More Litigation <ul><li>Any employer whose employees receive premium assistance through a federal exchange will be penalized. Since they suffer harm from the IRS rule, they’ll challenge employees tax credits and outlays. </li></ul>COBRAhealth.com/Obamacare.html
  7. 7. Losing Talent? <ul><li>If 80% of employers end their group health insurance and their employees end up on SHOP health exchanges, COBRA is history. </li></ul><ul><li>A MetLife study found employee loyalty was driven by salary AND benefits. </li></ul>COBRAhealth.com/Obamacare.html
  8. 8. 25% Unemployment? <ul><li>Employers will be fined $2,000 - $3,000 per employee, per year if the employee buys insurance via an exchange. </li></ul><ul><li>Fewer employees = Lower fines. </li></ul><ul><li>Fewer employees = more savings </li></ul>COBRAhealth.com/Obamacare.html
  9. 9. Guaranteed Issue Starting 2014, health insurance premiums charged can’t reflect the risk. Premiums may increase up to 400%, resulting in lower COBRA participation. COBRAhealth.com/Obamacare.html
  10. 10. Medical Loss Ratios Starting 2012, Insurers must pay out 80-85% of their revenue in medical expenses, BEFORE admin costs. Or they have to rebate customers. Losses are not addressed. COBRAhealth.com/Obamacare.html
  11. 11. No probation period 88% of employers have a waiting period for new hires. Obamacare requires employers to auto-enroll new hires into a health plan, giving them COBRA rights instantly. COBRAhealth.com/Obamacare.html
  12. 12. Got approval? Obamacare addresses rising cost by requiring Health Insurers to file for premium increases with the Secretary of Health & Human Services. COBRAhealth.com/Obamacare.html Can you say “Price fixing?”
  13. 13. The tax man cometh Through 2019, Health Insurers will pay billions in new taxes. That will get passed right back to their (captive) insureds. COBRAhealth.com/Obamacare.html
  14. 14. Higher Premiums The CBO says health insurance premiums could rise 30%+. COBRA is already unaffordable for 87% of eligible participants. COBRAhealth.com/Obamacare.html Premiums have risen faster then average since Obamacare was passed.
  15. 15. Total Compensation Employers only pay a maximum amount of total compensation, wages and benefits; if benefits become more expensive, employees will get less. COBRAhealth.com/Obamacare.html
  16. 16. Health Expenses, 2010 Government already subsidizes the majority of healthcare spending. Top 4 sources: 32% Private health insurance 21% Medicare 16% Medicaid & CHIP 12% Other government spending COBRAhealth.com/Obamacare.html
  17. 17. Obamacare, the hangover <ul><li>Premium increases double from historical rate </li></ul><ul><li>SHOP exchanges make COBRA obsolete </li></ul><ul><li>Health insurers dissolve </li></ul><ul><li>Employers refuse to hire </li></ul><ul><li>4 Millions pay penalties </li></ul>COBRAhealth.com/Obamacare.html
  18. 18. Obamacare Predictions Ohioans will lose their private health insurance and premiums will rise 55%-85% Milliman Inc. Study -Obamacare’s healthcare inflation will not be relieved until Obamacare is repealed Craig J. Casey Go to my Obamacare Forum , COBRAHealth.com and leave your feedback or comments. Your insurance costs are guaranteed to rise. William M. Briggs, Statistician. Insurance premiums will be higher, Marc Hodak COBRAhealth.com/Obamacare.html
  19. 19. About Me As a young boy, I watched Wall Street Week with Louis Rukeyser with my dad. Now I am a Dad, Husband, Wrestling Coach, Chef, Dishwasher and Financial writer. I don’t sell health insurance directly, but I get paid when you shop. And the more you compare, the more you save! COBRAhealth.com/Obamacare.html
  20. 20. Connect With Me Twitter.com/InsuranceCobra Facebook.com/Cobrainsurance Youtube.com/COBRAinsurance [email_address] COBRAhealth.com