Middle Class Dismissed

First Obamacare Horror Story

"A California small businessman tells me that he switched healthcare insurance carriers in 2012. The monthly premium for him and his wife was about $400, but when he received his first bill in January of this year it was for $1,200. He hasn't been to a doctor in years, his wife has only gone for minor care. Apparently there is some clause in the Affordable Healthcare Act that results in health insurance firms using a new method to calculate premiums. Those who have health insurance plans that have been in effect since at least 2010 are grandfathered under the old calculation method, but insurance carriers are using a new formula for new plans." Continue reading →

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What’s the Difference Between Romneycare and Obamacare?

"That’s a trick question, of course, as illustrated by this biting Henry Payne cartoon. But let’s look at one of the commonalities of Romneycare and Obamacare – higher premiums, thanks to mandates and third-party payer. Here’s a quick look at what’s been happening to premiums in Massachusetts. The same thing is already happening with Obamacare." Continue reading →

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Chicago trauma center age-restriction protesters accuse cops of roughing them up

"Protesters accused University of Chicago police of excessive force during a demonstration against the school’s medical center on Sunday. Authorities arrested four protesters but also allegedly attacked others, including the woman whose family tragedy inspired the campaign against the University of Chicago’s youth trauma center. Sheila Rush said campus police shoved her to the ground during the protest, an attempt to stage a sit-in at a $700 million addition to the facility, which only serves patients 16 years of age or younger. She said the age restriction leaves the city’s south side without a similar treatment option for adults." Continue reading →

Continue ReadingChicago trauma center age-restriction protesters accuse cops of roughing them up

Mounting Evidence: Obamacare Insurance Plans Will Be Bare Bones — and Expensive

"Health plans [...] health plans want to reduce uncertainty around how all the risk-sharing provisions in Obamacare will eventually play out. The legislation puts in place mechanisms that forces Washington to share with health plans some of the cost of the covering the sickest beneficiaries. But the regulations outlining these parameters were only released last Friday. Nobody yet trusts how they'll work.To mitigate uncertainty, plans will price their products high. Insurers know that any excess profits they earn will have to be paid back to the government, anyway. Health plans are better off aiming high, and owing money back, then getting underwater." Continue reading →

Continue ReadingMounting Evidence: Obamacare Insurance Plans Will Be Bare Bones — and Expensive

Obamacare Hammers Upper Middle Class in California: 30% Premium Hikes

"If you are a lower income person in California, your ship has come in. If you make over $70,000, your ship has pulled out. You are about to be run over by a freight train. How many people are in each camp? The losers number 1.3 million. The winners are 3.6 million. This is democracy. 'Thou shalt not steal, except by majority vote.' If you are not married, and make over $46,000 a year, you’re toast. If your family income is above $94,000, you’re toast. If you have insurance from your employer, you survive. Your employers may decide to fire you. You just got way more expensive. Do the words 'independent contractor' sound familiar?" Continue reading →

Continue ReadingObamacare Hammers Upper Middle Class in California: 30% Premium Hikes

Tax Prof: ObamaCare Tax Increases Are Double Original Estimate

"The Joint Committee on Taxation recently released a 96 page report on the tax provisions associated with Affordable Care Act. The report describes the 21 tax increases included in Obamacare, totaling $1.058 trillion – a steep increase from initial assessment, according to the Tax Prof Blog. The summer 2012 estimate is nearly twice the $569 billion estimate produced at the time of the passage of the law in March 2010." Continue reading →

Continue ReadingTax Prof: ObamaCare Tax Increases Are Double Original Estimate

Why Obamacare Will Result in a Decline in Cash Wages

"The least-skilled workers are seeing their wages fall over time, largely because they are out of work and failing to acquire the skills that come with working. Moreover, the new health care regulations going into effect in January are expected to reduce cash wages, as many employers of low-skill workers are hit with per-employee fines of about $3,000 per employee per year, as the law mandates new fringe benefits for other employers and low-skill workers have to compete with others for the part-time jobs that are a popular loophole in the new legislation." Continue reading →

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CVS requires employees to report weight or pay a fine under new health care rules

"CVS pharmacy company is requiring all employees to submit detailed health profiles to their insurance company or pay a monthly fine to continue receiving health coverage. According to ABC News, all employees must submit their weight, body fat levels, blood glucose levels and other vital statistics before May 1, 2014, or face a monthly $50 fine — $600 per year. Employees who comply with the testing, the company said, will see no change in their monthly insurance rate. Those who do not will pay the fine or risk being dropped from their health plan." Continue reading →

Continue ReadingCVS requires employees to report weight or pay a fine under new health care rules

CBO: Up to 20 Million Could Be Pushed Off Employer Health Insurance Because of Obamacare

"In February, the Congressional Budget Office said that 7 million will likely lose their employer coverage thanks to ObamaCare — nearly twice its previous estimate. That number could be as high as 20 million, the CBO says. In December, state insurance commissioners warned Obama administration officials that the law's market regulations would likely cause 'rate shocks,' particularly for younger, healthier people forced by ObamaCare to subsidize premiums for those who are older and sicker." Continue reading →

Continue ReadingCBO: Up to 20 Million Could Be Pushed Off Employer Health Insurance Because of Obamacare

Companies cut hours of full-time employees to avoid providing health care under new rules

"Three years after the passage of Barack Obama’s signature healthcare law, labor advocates are warning that it could have the unforeseen consequence of harming some of the very low-wage employees it seeks to aid. The legislation’s incentive scheme, they say, could cause a shift toward part-time work that extends beyond companies like Papa John’s and Darden Restaurants, which last year publicized their plans to cut employee hours to avoid costs under the new law. Such worries are reflected in California, where the state union federation is exploring legislation to lay over the Affordable Care Act to fix the potential problem." Continue reading →

Continue ReadingCompanies cut hours of full-time employees to avoid providing health care under new rules