Filed under: Administrative Fix, Affordable Care Act, Health Insurance, Important Notice, Obamacare, PPACA, Reform
As many have heard, Obama has offered a “fix” to many of the people that have gotten notifications of their insurance being canceled. I believe that this report, gives a good picture of it and I want to point out a few things before people start popping the cork and celebrating:
- Obama said that carriers “could” offer the plan for 1 more year…
- Obama pushed the ultimate decision over to the States and the Carriers…so far California, Idaho, Virginia and Kentucky have said no to this fix.
- If the carrier choose to offer to extend, then they are going to have to send the customers a comparison that shows the differences between their plan and all the Exchange Plans that they are offering, what this translates to is more work when we are already 45 days out, and the carriers do not have the extra time on their hands right now.
- The carriers do not have an actuarial value of any of these plans since they are not in their plan offerings and I believe that this would result in even higher prices as they would have to put in more man hours to reincorporate these plans.
If you have gotten a cancelation notice, I encourage you to call your carrier and see if they are going to pony up and continue to offer your plan, but don’t be shocked if you end up being one of many that they tell no.
Filed under: Employer Requirement, Health Insurance, Important Notice, National Healthcare, Reform
Pretty much all employers will need to provide their employees with written notice that includes information regarding the Exchange (now called the Health Insurance Marketplace). The deadline to provide the notice is fast approaching; the notice must be provided to each employee not later than October 1, 2013. Regardless of the size of your company and even if you currently do not offer coverage to your employees you *SHOULD* send this information out. The reason we say should instead of MUST is because as of last week, this has been another penalty that has been delayed and they haven’t told us when it will come back. Originally it was speculated a $100 fine for every day you have not complied with the request. We still encourage everyone to comply now as then when / if the penalty goes into effect you are all in compliance.
Click below to view the English version of the notices that you can provide to your employees:
English notice if you DO offer coverage
English notice if you DO NOT offer coverage
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