Second wave of health plan cancellations loomsPublished November 20, 2013FoxNews.comFacebook455 Twitter182 LinkedIn3
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A new and independent analysis of ObamaCare warns of a ticking time bomb, predicting a second wave of 50 million to 100 million insurance policy cancellations next fall -- right before the mid-term elections.
The next round of cancellations and premium hikes is expected to hit employees, particularly of small businesses. While the administration has tried to downplay the cancellation notices hitting policyholders on the individual market by noting they represent a relatively small fraction of the population, the swath of people who will be affected by the shake-up in employer-sponsored coverage will be much broader.
An analysis by the American Enterprise Institute, a conservative think tank, shows the administration anticipates half to two-thirds of small businesses would have policies canceled or be compelled to send workers onto the ObamaCare exchanges. They predict up to 100 million small and large business policies could be cancelled next year.
"The impact I'm mostly worried about is on small young, entrepreneurial firms that will suddenly face much higher health insurance premiums if they want to offer health insurance to their employees," said AEI resident scholar Stan Veuger. "I think for a lot of other businesses ... they can just send their employees to the exchanges or offer them a fixed subsidy every month to buy health insurance themselves."
Under the health care law, businesses with fewer than 50 workers do not have to provide health coverage. But if they do, the policies will still have to meet the benefit standards set by ObamaCare.
As reported by AEI's Scott Gottlieb, some businesses got around this by renewing their policies before the end of 2013. But the relief is temporary, and they are expected to have to offer in-compliance plans for 2015. According to Gottlieb, that means beginning in October 2014 the cancellation notices will start to go out.
Then, businesses will have to either find a new plan -- which could be considerably more expensive -- or send workers onto the ObamaCare exchanges.
For workers, their experience could mirror that of the 5 million or so on the individual market who already received cancellation notices because their plans did not meet new standards under the Affordable Care Act.
President Obama announced last week that insurance companies could offer out-of-compliance plans for another year. But that only means the cancellation notices will resume late next year.
The business community has already been hit with another side effect from ObamaCare. Because the law will require businesses with more than 50 full-time workers to offer health coverage, there are reports that companies are shifting employees to part-time status to avoid hitting the threshold.
Though the administration describes these accounts as anecdotal -- and has already delayed the employer mandate by a year -- studies suggest otherwise.
The International Franchise Association and the U.S. Chamber of Commerce have studied the impact and say the president's health care law has resulted in higher costs and fewer full-time positions.
A survey showed 31 percent of franchise businesses, and 12 percent of non-franchise businesses, have already reduced worker hours. It also showed 27 percent of franchise businesses, and 12 percent of non-franchise businesses, have replaced full-time workers with part-time employees.
Originally posted by sasquatch672So when Obama (and Soothfast, btw) has repeatedly used the 5% figure in recent weeks to downplay the havoc he has wrought, he was, get this, lying.
Second wave of health plan cancellations loomsPublished November 20, 2013FoxNews.comFacebook455 Twitter182 LinkedIn3
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A new and independent analysis of ObamaCare warns of a ticking time bomb, predicting a second wave of 50 million to 100 million insurance policy cancellations next fall -- right before the mid-term elections.
The n ...[text shortened]... 2 percent of non-franchise businesses, have replaced full-time workers with part-time employees.
Originally posted by SleepyguyThe press conference where Obama decreased that the individual mandate will be delayed by a year will be fascinating. Must-see tv.
Remember when Tea Partiers were the bad guys for trying to prevent this train wreck? Yeah, you're welcome GOP.
Hey libboes - Soothfast et al - told you so...
^Fun...
Originally posted by sasquatch672Goal all along: Single Payer Medicaid (sans frills and good luck if you're 65 or older; you've had your chance). Coma. lol
Second wave of health plan cancellations loomsPublished November 20, 2013FoxNews.comFacebook455 Twitter182 LinkedIn3
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A new and independent analysis of ObamaCare warns of a ticking time bomb, predicting a second wave of 50 million to 100 million insurance policy cancellations next fall -- right before the mid-term elections.
The n ...[text shortened]... 2 percent of non-franchise businesses, have replaced full-time workers with part-time employees.
Originally posted by sasquatch672Don't be moronic. A cancellation of an old policy is a prerequisite to enacting a new policy.
Second wave of health plan cancellations loomsPublished November 20, 2013FoxNews.comFacebook455 Twitter182 LinkedIn3
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A new and independent analysis of ObamaCare warns of a ticking time bomb, predicting a second wave of 50 million to 100 million insurance policy cancellations next fall -- right before the mid-term elections.
The n ...[text shortened]... 2 percent of non-franchise businesses, have replaced full-time workers with part-time employees.
You really think insurance companies are just going to irrevocably dump 100 million of their customers? Yeah? It must be trippy to be you.
Originally posted by SoothfastHow much will the new policies cost in comparison to the old ones? How many people will be stuck with policies that are more expensive because they are forced to get coverage they don't want?
Don't be moronic. A cancellation of an old policy is a prerequisite to enacting a new policy.
You really think insurance companies are just going to irrevocably dump 100 million of their customers? Yeah? It must be trippy to be you.
How many people won't be able to afford the new policies?
Originally posted by sasquatch672By the way, "a new and independent analysis of ObamaCare" by….
Second wave of health plan cancellations loomsPublished November 20, 2013FoxNews.comFacebook455 Twitter182 LinkedIn3
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A new and independent analysis of ObamaCare warns of a ticking time bomb, predicting a second wave of 50 million to 100 million insurance policy cancellations next fall -- right before the mid-term elections.
The n ...[text shortened]... 2 percent of non-franchise businesses, have replaced full-time workers with part-time employees.
the American Enterprise Institute…!?
Are you freakin' kidding me?
Originally posted by EladarThe signal to noise ratio here is too low. Chaos when big changes are enacted is almost inevitable, so rather than piss away endless hours fighting with Faux News automatons about "what might be" and "what the American Enterprise Institute thinks" during the initial stages of the ACA roll-out, I think I'm just going to wait and let the facts come in. I understand that the goal of the wasp nest of free-market cultists here is to tear the whole system down to its foundations and leave it rot, but that's just not my attitude. That's not the way…[wait for it…]…forward.
How much will the new policies cost in comparison to the old ones? How many people will be stuck with policies that are more expensive because they are forced to get coverage they don't want?
How many people won't be able to afford the new policies?
Yes, if the insurance companies really do dump almost all their customers, then that is just inviting a single-payer system (or public option) to fill the vacuum. So they won't do it. They'd be committing suicide. Damn, any kid should be able to figure that out. And definitely, we do need to keep a watchful eye on what the insurance companies are doing, because they would indeed love nothing better than to get the ACA off their backs so they can go back to shafting the little people just as they've always done. Glenn Beck Kool-Aid guzzlers take note: EVEN INSURANCE COMPANIES CAN LIE.
Originally posted by SleepyguyYou're basing this "observation" on an "analysis" carried out by the American Enterprise Institute, the International Franchise Association, and the U.S. Chamber of Commerce -- all of which are IDEOLOGICALLY OPPOSED TO the ACA. This is not an independent study. It's yellow journalism, or even brown journalism.
So when Obama (and Soothfast, btw) has repeatedly used the 5% figure in recent weeks to downplay the havoc he has wrought, he was, get this, lying.
Originally posted by sasquatch672I like how your "article" starts with the word ADVERTISEMENT.
Second wave of health plan cancellations loomsPublished November 20, 2013FoxNews.comFacebook455 Twitter182 LinkedIn3
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A new and independent analysis of ObamaCare warns of a ticking time bomb, predicting a second wave of 50 million to 100 million insurance policy cancellations next fall -- right before the mid-term elections.
The n ...[text shortened]... 2 percent of non-franchise businesses, have replaced full-time workers with part-time employees.
Christ, you'd swallow a turd if Fox News told you it was a truffle.
Originally posted by SoothfastYou like to believe that costs don't matter and prices are only high because someone wants to make a buck.
The signal to noise ratio here is too low. Chaos when big changes are enacted is almost inevitable, so rather than piss away endless hours fighting with Faux News automatons about "what might be" and "what the American Enterprise Institute thinks" during the initial stages of the ACA roll-out, I think I'm just going to wait and let the facts come in. I u ...[text shortened]... they've always done. Glenn Beck Kool-Aid guzzlers take note: EVEN INSURANCE COMPANIES CAN LIE.
As long as that's your assumption you will never understand the problem here.