Tag Archives: ObamaCare

$200,000 to sign up on person on ObamaCare

From CNBC 11/22/17.  For the full article click here.

 

A group that is supposed to help Native Americans sign up for Affordable Care Act coverage in South Dakota received $200,000 in federal funds to support its efforts — and managed to sign up just one person in an Obamacare plan, the Trump administration said Wednesday.

The group, the Great Plains Tribal Chairmen’s Health Board, had better luck in North Dakota — where it assisted 67 people in shopping for and enrolling in an Obamacare plan that went into effect in 2017.

But in that state, the board received another $154,000 in federal cash for its efforts.

That works out to nearly $2,300 per enrollee in North Dakota.

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COMMENTARY:  Compare this to the fact that I get $14 a month for renewing someone in South Carolina, and only 1 carrier in New York even pays commissions for our work.  Where do I sign up for this deal?!? – Reeve

IRS announces enforcement of the Pay or Play Mandate

The Obamcare Employer Mandate is about to be enforced.  According to this article in foxbusiness, the IRS sent letters to employers dating back to 2015.  There is a lot of debate about the effect of this, as 96% of groups over 50 lives offer insurance, and most employers are under the 50 threshold.  Clickl the link for the full article.

So what, exactly, did Trump eliminate on the Subsidies?

The President, in signing an executive order this past week, stopped all payments for Cost-sharing Subsidies.  Now, in a language most of you can understand:

  1.  This does not eliminate subsidies.  The Government is continuing to pay these and apparently will continue
  2. “Cost-sharing Subsidies” are only received by those on Silver plans below 250% of the Federal Poverty Level
  3. The plans are already filed and pre-approved.  Enrollees will continue to receive the same benefits as the contracts are not being changed.
  4. The Insurance company is not being paid their portion of the cost-sharing subsidies.

So in the end this affects the Insurance Carriers but not the enrolled person.  Many Insurance Carriers have already increased their premiums for 2018, based on warnings by the States that this would happen.  So in the end it may not mean much, except we all know the premiums are going up for 2018.

 

MEANWHILE – back in court, Attorney GEnerals in more than a dozen states, led by NY and CA, filed suit to get an injunction and prevent this from happening.  Given the recent rulings by these courts it is likely that they will win, at least temporarily.  It also seems to have stimulated Congress to discuss this, and perhaps even try and fix it.  At the center of the move is the argument that this is an expense that Congress never authorized.

Republicans just released a new healthcare bill — here’s what’s in it

committee on the budget logo

Business Insider
By: Bob Bryan
July 13, 2017

Senate Republican leadership released the updated version of its healthcare bill on Thursday, but continued pushback from its own conference likely puts the legislation in the same perilous position as previous iterations.

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ObamaCare has increased rates by 105%

obamacare and logo

An article in FoxNews on May 23 reports that premiums on exchanges for individuals rose 105 percent (on average) since 2013.  

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Reeve Conover is a Registered Representative. Securities offered through Cambridge Investment Research, Inc., a Broker/dealer member FINRA/SPIC. Cambridge and Conover Consulting are not affiliated. Licensed in SC, NC, NY, CT, NJ, and CA.
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