What this article fails to articulate is how many employers will drop their benefits altogether and pay the tax. This will result in employees having to shop the exchange for Health Insurance. Costs will still be rising so unless the employer gives a raise to buy Health Insurance, many employees will not buy coverage and wait until they get sick and need treatment. The exchanges will end up writing mostly sick and PreX people and the rates will continue to rise as they have been doing for some time.
Scott, When SCOTUS ruled, they said it was a tax and not a fine like the administration tried to portray. That is why they will be hiring thousands of new IRS agents to make sure people pay the tax who haven’t bought insurance.
In South Florida there are seven carriers, all combined they offer more than 670 different plans, because of market pressures forcing carriers to offer lower premiums plans most plans carry deductibles higher than $2,000. Because of it less than 6% of those plans may be in compliance with the new guidelines under PPACA requiring plans to offer deductibles not higher than $2,000, at astronomical rates. This article, like most I read lately, fails to address the reality that, from January 2014 in order to be in compliance most if not all the health plans will be forced to disappear, and that includes most HSA plans as well. Just this morning I attended a carrier’s seminar on things to come in 2014, the message is that most plans’ premiums will increase from 25% to 140% for most individuals and groups in order to comply with the new guidelines and additional taxes and fees. Truth be if you have plenty of cash to pay for your medical care then you don’t need health insurance at all. Obamacare will do away with all insurance companies, force physicians into early retirement, and close hospitals. Sometimes you have to be careful about what you wish for because it may just come true, and you will not like it!!
Slick, I am glad I am primarily a P&C agent and not dependent on Group and Individual Health for my income. I have a few agent friends who are pretty heavily invested in Health & Life and they are really scrambling to ramp up their P&C operations because they see the handwriting on the wall and the business will eventually be taken away from them.
Two-thirds of these comments are misguided and/or absurd. I am especially disappointed in Bill Clinton, I thought he had more class. Seriously, Mr. Escala “Sr”, as an educated person (?) you would posit “Truth be if you have plenty of cash to pay for your medical care then you don’t need health insurance at all.”
The moving finger is only writing that those who cannot adapt will die off, because they were just spreadsheet quoters and paper shufflers to begin with, not adding value to their clients very much if at all.
Doomsayers, told-you-so-ers and Chicken Littles need not apply. Go sit in the corner at a little desk and write Personal Auto for a buck above minimum wage. That’s probably your pay grade, anyway. Come back when you stop singing “If I Only Had a Brain.” Thanks.
Agent Dan, I take offense at your comment about P&C agents. Do you think all we write is Personal Auto for minimum wage? Gee, I wonder how I got to be an agent writing several million of premium volume of Commercial & Personal Lines. I think I have provided value to my clients for quite a few years, but Health Insurance has been totally screwed up and I don’t want the headaches involved with it now. Go hide in your corner. Perhaps they will make you a Navigator to help people fill out their new 15 page app to get Health Insurance.
What this article fails to articulate is how many employers will drop their benefits altogether and pay the tax. This will result in employees having to shop the exchange for Health Insurance. Costs will still be rising so unless the employer gives a raise to buy Health Insurance, many employees will not buy coverage and wait until they get sick and need treatment. The exchanges will end up writing mostly sick and PreX people and the rates will continue to rise as they have been doing for some time.
Tax? I thought it was a fine. What did SCOTUS rule? Both right?
Scott, When SCOTUS ruled, they said it was a tax and not a fine like the administration tried to portray. That is why they will be hiring thousands of new IRS agents to make sure people pay the tax who haven’t bought insurance.
In South Florida there are seven carriers, all combined they offer more than 670 different plans, because of market pressures forcing carriers to offer lower premiums plans most plans carry deductibles higher than $2,000. Because of it less than 6% of those plans may be in compliance with the new guidelines under PPACA requiring plans to offer deductibles not higher than $2,000, at astronomical rates. This article, like most I read lately, fails to address the reality that, from January 2014 in order to be in compliance most if not all the health plans will be forced to disappear, and that includes most HSA plans as well. Just this morning I attended a carrier’s seminar on things to come in 2014, the message is that most plans’ premiums will increase from 25% to 140% for most individuals and groups in order to comply with the new guidelines and additional taxes and fees. Truth be if you have plenty of cash to pay for your medical care then you don’t need health insurance at all. Obamacare will do away with all insurance companies, force physicians into early retirement, and close hospitals. Sometimes you have to be careful about what you wish for because it may just come true, and you will not like it!!
Good luck agents! Your bidness is goin down the tubes!!!!!!
Slick, I am glad I am primarily a P&C agent and not dependent on Group and Individual Health for my income. I have a few agent friends who are pretty heavily invested in Health & Life and they are really scrambling to ramp up their P&C operations because they see the handwriting on the wall and the business will eventually be taken away from them.
Two-thirds of these comments are misguided and/or absurd. I am especially disappointed in Bill Clinton, I thought he had more class. Seriously, Mr. Escala “Sr”, as an educated person (?) you would posit “Truth be if you have plenty of cash to pay for your medical care then you don’t need health insurance at all.”
The moving finger is only writing that those who cannot adapt will die off, because they were just spreadsheet quoters and paper shufflers to begin with, not adding value to their clients very much if at all.
Doomsayers, told-you-so-ers and Chicken Littles need not apply. Go sit in the corner at a little desk and write Personal Auto for a buck above minimum wage. That’s probably your pay grade, anyway. Come back when you stop singing “If I Only Had a Brain.” Thanks.
Agent Dan, I take offense at your comment about P&C agents. Do you think all we write is Personal Auto for minimum wage? Gee, I wonder how I got to be an agent writing several million of premium volume of Commercial & Personal Lines. I think I have provided value to my clients for quite a few years, but Health Insurance has been totally screwed up and I don’t want the headaches involved with it now. Go hide in your corner. Perhaps they will make you a Navigator to help people fill out their new 15 page app to get Health Insurance.