One of the problems with the delay is the lack of reporting from the employers. Employers are being encouraged to "voluntarily" send the reports in anyway. I wonder how many will be doing that. Without that information the Federal Data Hub will not be able to determine who was eligible for a qualifying employer plan.
In addition they are not able to send an individuals income history to the State Exchanges to determine the amount of subsidy that individuals will be eligible for. Instead, state exchanges "may accept the applicants attestation form regarding enrollment in an eligible employer-sponsored plan...without verification". Also, for the first year of operation, "exchanges have discretion to accept an attestation of projected household income without further verification for subsidy eligibility. Do you see a potential for abuse here?
What might this delay cost?
- The Congressional Budget Office estimates that the delay will result in $10,000,000,000 in lost employer penalties from those large group employers that were not going to provide coverage to their employees. Unfortunately, much of this money was earmarked to pay for the ACA subsidies.
- It is also estimated that because of the delay 1,000,000 people will not be covered by employer sponsored plans.
- Half of those, however, will now be applying for subsidies at a cost of an additional $3,000,000,000. Three billion dollars that is not being collected from large employers.
BREAKING NEWS:
I understand that most of you are waiting for the plan designs and pricing for the individual and small group exchange in Colorado. Today I learned that the Division of Insurance has postponed releasing those rates for another 2 weeks...so we will all have to wait to see what the insurance premiums look like for January 2014.
Until next time...
GOOD HEALTH - THAT'S THE PLAN!
This highly controversial legislation was signed into law by President Obama on March 2010. It was subsequently upheld by the Supreme Court on June 2012how to sign up for obamacare
ReplyDeleteGreat Post, this is giving more valuable information and contains a lot of information. This post is very useful for me as well as for others so please share more posts like this. Thanks for sharing. Obamacare Insurance Tampa
ReplyDeleteReally very happy to say, your post is very interesting. I never stop myself from saying something about it. You’re doing a great job. Keep it up. best health insurance Miami
ReplyDeleteWe understand our clients, and we know that they need only elite Low Rate Call Girls in Chanakyapuri.
ReplyDeleteIf you have desires and fantasises that never came true, then you are in for a treat. Hiring an Call Girls in Goa will give you the chance to enjoy a lot.
Our super hot Call Girls in Goa are meant for providing best pleasures.
Just call us on the given numbers and we bet that you are going to enjoy with Agra Russian Call Girls.
There are lots of Agra Russian Call Girls available for you. We have lots of variety to offer too.
You can get Ajmer Russian Call Girls, Bengali, Bihari, Punjabi, Latin, Russian, and lots more. Variety is key to us because clients prefer changes in their life.
You've provided quite good information here. This is fantastic since it expands our knowledge and is also beneficial to us. Thank you for sharing this piece of writing. Financial Support for Refugees In Canada
ReplyDelete