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Tag: healthcare reform

Senator Roberts Gives GOP Address On Obamacare

Senator Roberts Gives GOP Address On Obamacare: “Health Care As You Know It Will Change”

In the Weekly Republican Address, Senator Pat Roberts (R-KS) notes that the deadline for millions of Americans to purchase health insurance in a special “exchange” is quickly approaching, yet the Obama administration still can’t answer basic questions about health insurance costs and coverage or even guarantee that the exchanges will be ready to enroll patients by an October 1 deadline.

As a result, Americans are rightfully concerned and skeptical about how such a “massive federal government takeover of health care” will work, says Roberts, who has introduced legislation to sunset the exchanges if they miss the enrollment deadline.

Cosby Insurance Group does not represent or endorse the accuracy or reliability of any advice, opinion, statement or other information provided by in video.

Source: Real Clear Politics

Many Uninsured Americans Unaware Of Obamacare Mandate

One year after the Supreme Court upheld the Affordable Care Act’s mandate that all Americans acquire health insurance, a significant chunk of uninsured Americans are unaware of that looming requirement, a new poll shows.

Forty-three percent of uninsured Americans told Gallup, in a survey conducted June 20-24, that they had not been aware of the “individual mandate” before surveyed on it. Americans overall were more likely to know about the rule — 81 percent said they were aware of it.

Gallup surveyed a random sample of 2,048 adults across the U.S. The poll has a three-point margin of error.

Read more […]

ACA Exchange Notice

Federal and state governments are manufacturing insurance exchanges/market places as another resource for existing insurance carriers to offer their products and plans. These same products and plans will be available outside the exchanges/market places. For most employers, this new market place will be a redundancy to the way you currently understand insurance to work. The benefactors will primarily be the indigent and certain small businesses that qualify for financial assistance.  As always, Cosby Insurance group will provide you thorough analysis of all your choices.

However, the Affordable Care Act (ACA or health care reform law) added a section to the Fair Labor Standards Act (FLSA) that said employers must provide a written notice to each existing employee. The Department of Labor (DOL) provided an update with temporary guidance and templates of the required notices. Starting on October 1, 2013, the notices have to be given to new employees on the day they are hired. The notices have to be given to existing employees no later than October 1, 2013. The notices will:

  • Advise employees about exchanges including a description of the services provided and how they can contact exchanges to request assistance;
  • Let employees know they may be eligible for a premium tax credit if the employer-sponsored plan does not meet certain standards, and the employee buys a qualified health plan through an exchange;
  • Explains that if the employee buys a qualified health plan through an exchange, he or she may lose the employer contribution to any health benefit plan the employer offers, and that all or a portion of the contribution may be excluded from income for Federal tax purposes.

Please know that the quality and affordability of your employer-sponsored benefits is important to being  a competitive employer. Providing competitive and affordable  benefits is now more important than ever.

Important links:
Technical Release 2013-02
Model Exchange Notice
Cobra model

ACA Exchange Notice

Federal and state governments are manufacturing insurance exchanges/market places as another resource for existing insurance carriers to offer their products and plans. These same products and plans will be available outside the exchanges/market places. For most employers, this new market place will be a redundancy to the way you currently understand insurance to work. The benefactors will primarily be the indigent and certain small businesses that qualify for financial assistance.  As always, Cosby Insurance group will provide you thorough analysis of all your choices.

However, the Affordable Care Act (ACA or health care reform law) added a section to the Fair Labor Standards Act (FLSA) that said employers must provide a written notice to each existing employee. The Department of Labor (DOL) provided an update with temporary guidance and templates of the required notices. Starting on October 1, 2013, the notices have to be given to new employees on the day they are hired. The notices have to be given to existing employees no later than October 1, 2013. The notices will:

  • Advise employees about exchanges including a description of the services provided and how they can contact exchanges to request assistance;
  • Let employees know they may be eligible for a premium tax credit if the employer-sponsored plan does not meet certain standards, and the employee buys a qualified health plan through an exchange;
  • Explains that if the employee buys a qualified health plan through an exchange, he or she may lose the employer contribution to any health benefit plan the employer offers, and that all or a portion of the contribution may be excluded from income for Federal tax purposes.

Please know that the quality and affordability of your employer-sponsored benefits is important to being  a competitive employer. Providing competitive and affordable  benefits is now more important than ever.

Important links:
Technical Release 2013-02
Model Exchange Notice
Cobra model