We've recently received many calls asking us about the health insurance landscape and clients wanted our perspective about how things are shaking out. After many phone calls, we thought it might be best simply to write them down as a resource for everyone.
As of now (January 2013), several aspects of the ACA (Affordable Care Act or Patient Protection Act or "Obamacare") have been implemented. First, children under the age of 19 with any pre-existing condition can now be insured and an insurance company cannot decline them. Second, all plans now must now cover 100% of a policy holder's preventative care expenses without co-pay or deductible. Finally, insurance companies have also been forced to adhere to the 80% MLR rule where they must pay at least 80% of all premiums received to patient medical claims.
I hate to tell you the bad news, but it is best to get a dose of reality earlier than it is to have a shock when bad things hit. Despite the fact that our leaders told us that we could expect lower healthcare rates, you'll be paying more for health insurance next year. Politicians have a funny way of doing things and often the name of their legislation is an indication of the coming irony. While the sweeping healthcare law that passed in 2009 became dubbed, "Obamacare", the formal name for the legislation is the Patient Protection and Affordable Care Act.
Thanks for your patience as we work on the blog. Unfortunately I am not as technologically gifted as I might think I am! In the last two weeks I attempted a Wordpress upgrade that killed the blog and essentially made it unfix-able and we needed to uninstall the entire blog.
At this time don't know the exact date the Supreme Court will rule on the Patient Protection Act (Obamacare). We do know however that it will be sometime in June and that is will surely create earthquake-like tremors throughout the medical and insurance industries.
A recent article in Bloomberg noted that physician participation in specific insurance plans is dropping as a result of low reimbursements from those carriers.
http://www.bloomberg.com/news/2011-06-27/doctors-turn-away-insured-on-lo...
An 11th Circuit Court of Appeals heard arguments today regarding the constitutionality of Obamacare and its mandate that everyone be required to purchase health insurance. Please read the article from Alabama's 13.com.
UK NHS SEEKS TO REDUCE COST, BUT INCREASE PAIN
http://www.bbc.co.uk/news/health-12964360
While The National Healthcare System in Britain seeks to cut costs and have employed measures to save 20 billion pounds by 2015, surgeons have balked and called the tactics "cruel."
What possibly could be cruel about saving money?
I was live on the radio today with Kevin Price on the CBS radio show "The Price of Business". Kevin's show focuses on small business and the drivers and challenges to making a successful company in today's environment. Kevin guided the conversation to health care reform and coined the phrase "Health care deform!"
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