In the past few months, we’ve seen many Health Care Reform rules and regulations implemented from Health and Human Services Department. Health and Human Services Department. Every time this happens that happens, the media is aware of it, and all sorts of stories are published by newspapers like the Wall Street Journal, the New York Times, and the news shows on TV networks discuss the topic. The analysts begin to talk of the benefits and drawbacks and what this means for both individuals and businesses.
The issue is that many a writer sat down and read the rules and wrote a piece about the regulation. Later, other writers begin making use of the material from the first piece and revising them to suit their own article.
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When the information is distributed widely and the regulations and rules are altered and misinterpreted and what is actually shown in the media often does not accurately reflect the actual meaning of what regulations state.
There’s a lot that’s misunderstood regarding what’s happening regarding ObamaCare One thing I’ve observed in conversations with my clients is that there’s an undercurrent collection of myths that people have gathered about the health reforms which are utterly false. Because of what they’ve read in the media, they believe that these myths are real. For more deep information visit
Today, we’ll be talking about three myths that I hear the most often. Some people don’t believe in the myths mentioned, however many do, and some aren’t sure what to think, which is why it’s important to start to dispel these myths today.
The first is that health reform is only affecting people who are uninsured. The second reason refers to Medicare advantages and benefits as well as the Medicare program won’t be affected by the health reform. The third is that the health reform will help decrease the cost of healthcare.
Health Care Reform Only Affects Uninsured
Let’s take a look at the primary myth that health reform is that only affects uninsured persons. In many of the conversations I have with clients, there are a variety of words they make use of: “I already have coverage and won’t be in any way affected from ObamaCare,” or “I’ll simply keep my old health insurance plan,” and the last one, and here I’m able allow them a some leeway because one of the things they’re saying is actually true “I have health insurance through a group which means I will not be affected by the health reform.”
The reality is that the health reform law will affect all of us. Beginning in 2014, we’ll get a brand new set of health plans. these plans will come with a wealth of benefits, with a lot of additional options that existing plans currently don’t provide. Therefore, these plans are expected to be more expensive.
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The people who have health insurance plans are scheduled to be enrolled in these plans at some point in 2014. Therefore, the people who are insured are directly affected since the health insurance plans they currently have will be canceled and will be integrated into the brand new ObamaCare plan in 2014.
Health Care Reform Effect On The Uninsured
Uninsured individuals face an additional problem in that if they don’t have health insurance by 2014, they’ll be hit with the penalty of a mandate. A few of the healthy and uninsured will take a look at the penalty and think, “Well, the penalty is one percent per cent of my adjusted earnings and I earn $50,000, therefore I’ll have to pay a $500 penalty or $1000 in health coverage. If that’s the case, I’ll pay penalties.” In any case they’ll suffer directly from the health reforms to the health system. The mandate will affect both the insured and those who aren’t insured.
Health Care Reform Effect On People With Grandfathered Health Plans
Individuals who have health insurance plans that are grandfathered will not have a direct impact from the health reform. However, because of the time duration of their health insurance plan grandfathered the plan will be made the plans more expensive as they learn that there are options readily available that they could easily switch to and that offer more benefits that are better suited to any chronic health problems they might suffer from.
For those who remain in the grandfathered plans the subscribers to the plan is likely to be reduced, and, as it is the case the price of those health insurance plans that are grandfathered will grow even more rapidly than they currently. Thus, people who are grandfathered in health insurance plans could also be affected by ObamaCare.
Health Care Reform Effect On People With Group Health Insurance
The last , which is the small group marketplace is expected to be most directly affected by the health reform. Although the regulations of health reform are primarily affecting large and medium-sized businesses, as well as those that employ at least 50 employees, the smaller businesses will also be affected even though they’re not subject to ObamaCare in its own.
The thing that polls and surveys are beginning to reveal is that a portion of the companies with less than 10 employees are looking carefully at their options to remove health insurance completely and not have it as a cost for the business. Instead, they’ll make their employees purchase health insurance through marketplaces for health insurance.
Indeed, some of the insurance companies are saying that they are anticipating that as high as 50% of small companies with fewer than 10 employees are likely to cancel their health insurance coverage between 2014 between 2014 and 2016. It will have a massive impact on the people who have health insurance for their group particularly if they’re part of one of the small businesses which have dropped health insurance coverage.
The uninsured aren’t the only ones who will be affected by the health care reform. Everyone will be affected.
Health Care Reform Will Not Affect Medicare
The second myth was that health reforms would not impact Medicare. It’s quite funny since right from the beginning the most significant cuts targeted specifically Medicare. Medicare program. If you take a look at Medicare’s share of the federal budget, you will see that in the year 1970, Medicare was just 4 percent from all of the U.S. federal budget, and by the year 2011 the figure had risen to 16 percent of the budget.
If we take a look over the past decade, which spans from 2002 until 2012. Medicare has been the most rapidly expanding of the major entitlement programs of the federal government. it has grown by nearly 70% over that time of time.
Because of the huge size Medicare is, and how rapidly it’s expanding, it’s one of the most important programs ObamaCare is working to get in order, so that it won’t be a financial disaster for this U.S. Medicare is going be affected, and the first cuts to Medicare have been put in place at $716 billion.
Medicare Advantage Cuts And The Effects
Of the $716 billion that is cut of which $716 billion is cut, the Medicare Advantage program gets cut the most and will suffer the most of the negative effects. What it will cause is to increase the costs that people are required to cover for Medicare Advantage insurance plans as well as reduce the benefits offered by these plans.
Increased Medicare Advantage Costs
In the present, a majority of people are choosing Medicare Advantage plans because they offer no cost costs for premiums. When they’re offered the option of Medicare plan, many see it as a simple decision because it’s a no-cost program “Sure I’ll get Medicare benefits, but I do not have to pay to get it. So why wouldn’t I.” Then they’ll see Medicare premiums begin to increase to the point of being zero to $70 or $80, $90, $100. This has already been seen in certain Blue Cross Medicare Advantage plans this year. This will only become worse as we move ahead in the near future.
Reduced Medicare Advantage Benefits
To reduce the cost of premiums the majority of Medicare Advantage plans make is to increase copayments, raise the deductibles and modify the rates of co-insurance. To keep cost of premiums low, they’ll shift more of the cost onto Medicare Advantage beneficiaries. Higher premiums and lower benefit are the only things we’re likely to see as we enter the Medicare Advantage plans.
Fewer Medicare Physicians
As if that wasn’t enough, once Medicare doctors start receiving less and less reimbursements for Medicare Advantage patients and they’re likely to stop accepting new Medicare Advantage beneficiaries. The number of doctors who can help the people who are with Medicare beginning to shrink also, unless significant changes are implemented over the in the coming five years. Therefore, Medicare will be affected and is likely to be significantly affected by the reforms to health care. Everyone’s in a state of limbo in anticipation of what happens next.
Health Care Reform Will Reduce Healthcare Costs
The final most likely to be the biggest misconception about the health reforms people believe that ObamaCare will lower healthcare costs. This is a complete nonsense. At the beginning of the process, as it was trying to create the rules and regulations the primary focus as well as one of the main goals of reform was to cut down costs for healthcare.
But at some point the focus changed away from the reduction of costs to the regulation that governed the industry of health insurance. After they had made the change, they put cost reductions off the of the agenda. There are a few small cost-cutting elements in ObamaCare however, the primary importance is in regulating health insurance. New plans as an instance, offer much more advantages than most plans currently and have higher benefits, which means higher costs.
Health Care Reform Subsidies: Will They Make Plans Affordable?
Many people believe, “The subsidies are going to make health insurance more affordable, aren’t they?” In some instances, subsidies can help lower the cost of plans for those who need them. If you earn more than you should, the budget plans could be very costly and could cost you thousands of dollars more in one year. The question of whether a subsidy will make it affordable or unaffordable is a matter of discussion at this point in the future. We’ll have to see what costs are in these programs.
New Health Care Reform Taxes Passed On To Consumers
There’s also a plethora of health care reform taxes introduced to fund ObamaCare. This means that everyone who is covered by an insurance policy whether in large groups or a smaller group or as an individual is going to be taxed to cover the costs of the reform. Health reform will add a variety of taxes on health insurance that insurance companies must pay and collect, but they’ll just pass the cost on onto us the consumers.
Mandate Won’t Reduce Uninsured Very Much
In the first few years of the health reforms the mandate was actually rather ineffective. The mandate stipulates that every person must have medical insurance, or else pay the penalty (a tax). What this will cause is to make people who are healthy remain on the sidelines and sit and wait for the mandate to reach the point at which they are finally forced to purchase health insurance. Patients with chronic health issues who weren’t able to get insurance prior to now will all enroll in healthcare from the beginning of 2014.
When the plan is finished for that period, it is expected that the price of the plans will rise in 2015. I’m confident that this is likely to happen because healthy young people aren’t going to be motivated to enroll in the plans. They won’t be able to see the value of joining a plan that is expensive while the chronically sick individuals will be drawn in the plans and push the cost up.
Health Care Reform’s Purpose Is Just A Matter Of Semantics
The final part of this report is, one of the most important aspects – and it’s hilarious I noticed it during the first two yearsof 2010 and ’11 – one of the most important items that were mentioned in the documents from Obama’s administration was that Obama administration was that Health Care Reform would help lower the costs we will face in the future , if we don’t take action today. It was reiterated frequently. This is how they presented the health cost reductions, claiming which would cut down on cost in the future. It’s not currently, but it could lower the amount we’d have to pay in the future if we do not do anything about it today.
That’s fantastic, 10 years from now , we’re likely to pay less than what we would have. We’re all aware of how accurate forecasts for the future usually are. As of now, we’re paying more today and will be paying even more in 2014 and even more in 2015 and 2016. Many people will be very upset by this.
The three myths that claim healthcare reform is only likely to affect those who are uninsured, and that it will not impact Medicare beneficiaries as well as the notion that ObamaCare will reduce the cost of healthcare, are nothing more than those. These are all lies. They’re not true.
It’s vital to keep an eye on what’s happening in the health reform because there will be more changes to come during this year and 2013. Understanding how to set yourself up to ensure that you’re in the best position to be in a position to make the right decision in the beginning of 2014 will be vital for all.