In an earlier post we defined adequate and affordable health insurance, noting that beginning on January 1, 2014, the Affordable Care Act (ACA) states that those people whose employer does not offer adequate and affordable group coverage will be able to purchase insurance on the exchange. One of the ways the new law attempts to make insurance “affordable” is through government subsidy for plans bought on the exchange. Last week,
In the News: Affordable Care Act
Tuesday of this week was a big day in the news for those of us watching developments in the implementation of the Affordable Care Act (ACA). Here is a quick summary: President Obama released a much shortened version of the application for health insurance. If you have been following Virginia Medical Plans on Facebook or LinkedIn, then you remember we unveiled the preliminary draft back in March, which was a
Will Lawmakers Have to Purchase Insurance through the Exchange?
This is an interesting question. When the Affordable Care Act (ACA) was passed in 2010, it included language requiring that Congress and members of its staff obtain their health insurance through the exchanges when they open later this year. There were conflicting news reports last week regarding whether or not this requirement will “stick”, as the Office of Personnel Management (OPM), which administers health insurance plans for Congress and its
Largest Maryland Health Insurer Proposes 25% Rate Increase
In big news for Maryland residents — and maybe a predictor of what is to come for the entire country — the largest provider of health insurance in the state of Maryland is proposing a 25% hike in its premiums in 2014, citing the increased cost of covering previously-uncovered preexisting conditions as set forth in the Affordable Care Act (ACA). Read the full story in an article published in the
A Race to Educate the Public on New Health Care Law
With April coming to a rapid close, it seems that folks are just beginning to realize that October 1 is right around the corner! What is the significance of October 1? It is the date the new insurance exchanges, created under the Affordable Care Act, are scheduled to open for business. It is therefore the date that an anticipated 14 million currently-uninsured Americans will begin shopping for health insurance in
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