Obamacare and COBRA Insurance

Obamacare and COBRA by Craig J. Casey of COBRAhealth.com

About Obamacare
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 .
COBRAhealth.com/Obamacare.html

Obamacare more affordable?
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.

What is COBRA?
The Consolidated Omnibus Budget Reconciliation Act or COBRA helps employees, retirees, spouses, and dependents the right to temporary continue of their group health insurance.

Is COBRA Dead?
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
exchanges.

More Litigation
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.

Losing Talent?
If 80% of employers end their group health insurance and their employees end up on SHOP health exchanges, COBRA is history.
A MetLife study found employee loyalty was driven by salary AND benefits.

25% Unemployment?
Employers will be fined $2,000 - $3,000 per employee, per year if the employee buys insurance via an exchange.
Fewer employees = Lower fines.
Fewer employees = more savings

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

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

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

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?”

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

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.

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

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

Obamacare, the hangover
Premium increases double from historical rate
SHOP exchanges make COBRA obsolete
Health insurers dissolve
Employers refuse to hire
4 Millions pay penalties

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

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

Connect With Me Twitter.com/InsuranceCobra Facebook.com/Cobrainsurance Youtube.com/COBRAinsurance [email_address] COBRAhealth.com

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Obamacare and COBRA Insurance

by Craig J. Casey

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