...------------------------------------------------- What Would Health Care Reform Mean for Small Businesses and their Workers? ------------------------------------------------- What Would Health Care Reform Mean for Small Businesses and their Workers? HLTH 5120 Health Policy Issues Valerie G. Austin 16 May 2012 HLTH 5120 Health Policy Issues Valerie G. Austin 16 May 2012 Valerie G. Austin Dr. James M. Brasfield HLTH 5120 Health Policy Issues 16 May 2012 What Would Health Care Reform Mean for Small Businesses and their Workers? The Affordable Care Act Increases Choice and Saving Money for Small Businesses. Small businesses are the backbone of our economy, but high health care costs and declining coverage have hindered small business owners and their employees. (Health Reform for Small Businesses/WhiteHouse.Gov) Part I Introduction The creation of the Affordable Care Act has brought many persons into a disagreement and has been in argument thru many administrations. Therefore we as a people should come together and set forth a plan that will be a benefit to All Americans. If we are to fix the economy of America we must repair the healthcare system. By reforming our healthcare system it will allow for you to maintain the coverage you have or seek another, delivering quality of care at a decreasing cost and waste elimination, allowing small businesses to remain competitive and reforming insurance coverage so there would never be a threat of losing coverage. “The Affordable Care Act requires...
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...Survey of the U.S. Health Care Consumers: The performance of the health care system and health care reform article both illustrate the changes occurring in healthcare and the results of health behavior towards the Affordable Care Act (ACA). The evidence is shown through the Congressional Budget Office article detailing the financial objectives taking place for consumers and employers. It also displays the number of people obtaining employment-based health insurance. The Deloitte 2012 Survey highlights data from consumers’ perceptions of the health care system and their thoughts on health care reform. Many health policy experts and economists have challenged the health care industry’s view of consumerism; they reason that costs would be lower, service better, and improved quality. Based on the results of the survey, consumers stated that there is a widening gap between their unmet needs and the system’s performance. The surveys also indicate adults being queried in varied health status, income, and insurance cohorts to gauge the degree to which consumers are prepared to engage the health care system as “patients” or “consumers”. Introduction This article pertains to the Congressional Budget Office’s and the Joint Committee on Taxation’s estimates of the effects of the Patient Protection and Affordable Care Act on number of people obtaining health insurance through their employer. “The CBO and JCT estimated that, on balance, the number of people obtaining coverage through their...
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...Your Business Fair? (The Impact of Affordable Care Act on Small Business) On March 23, 2010 President Obama signed into law the comprehensive health reform known as the Patient Protection and Affordable Care Act informally known as Affordable Care Act. According to the Executive Office of the President, Council of Economic Advisors (EOP/CEA), “the key goals of health care reform is to reduce the growth rate of costs while maintaining choice of doctors and health plans and assuring quality, affordable health care for all Americans.” (The Economic Case for Health Care Reform, June 2009) The ACA is created to improve the overall quality of health care delivery and its’ systems while adding new consumer protections. In the ACA there is a clause known as the individual mandate. This mandate requires most U.S. citizens and legal residents to obtain qualifying health care insurance coverage, and if not will be required to pay a tax penalty. Effective January 1, 2014 employers with fifty or more employees that do not provide affordable health coverage will receive an assessment where for those businesses with less than fifty employees are exempt. States have created health benefit exchanges for individuals and small businesses through which health coverage can be purchased at affordable prices. The Department of Health and Human Services (HHS) published several fact sheets and brochures highlighting what the ACA means for large and small businesses, individuals, families...
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...The New Health Care Law What should employers know? MGMT 4510 CRN 87885 Legal Issues in Human Resources Dr. Judith Ogden Group Members Jemella Bartley Justin Martin Christie Simon On March 23, 2010, President Obama signed into law the comprehensive health reform legislation, the Patient Protection and Affordable Care Act, P.L. 111-148. Recognizing the disparities among American citizens, with and without health insurance, both Acts focus on ensuring that all Americans have access to quality, affordable health care. Comprehensive health reform addresses the following: major provisions to expand health care coverage, controlling health care costs, and improving health care delivery systems. While many debate the pros and cons of the new legislation, they must prepare for significant changes tiered over the next eight years. Here, we will discuss how the comprehensive health reform legislation affect employers and explain what they should know and be prepared for. The Patient Protection and Affordable Care Act each address essential components of reform: * Quality, affordable health care for all Americans: this function will accomplish a fundamental transformation of health insurance in the United States through shared responsibility. This means requiring most U.S. citizens and legal residents to have health insurance and requiring employers (large & small) to offer insurance or pay a penalty to the government for each employee. * The...
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...The Cost of Your Health Management 5990-01 Spring 2014 Brandon Connelly Our health is one thing we cannot take chances with. An essential part of our lives is ensuring we put our health, and the health of our family, at the utmost point of our priorities. When we experience a situation that threatens the security of that health, we call in our backup, insurance. Insurance is how we live. It is a means of aid, in times where health is paramount and the costs to bring us back to that point, can be higher. We are afforded insurance through our employer, in most cases. Generally, in a family situation, the mother or father accepts the insurance through their employer. This is usually decided by weighing the costs and coverage of...
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...stepped in to monitor and confirm that we are in compliance with the laws set forth. When we are not in compliance the government will assess fines on all people and business owners considered to be a large employer that will increase with every year that passes. Insurance is a very important necessity to have in this day and time; without it the penalties can be great. You may be asking yourself this million-dollar question, why was it so important for the government to pass the Affordable Care Act (ACA) law? Health Insurance has been on top of the discussion list within the governmental agencies for some time now. “On March 23, 2010, President Obama signed the Affordable Care Act (ACA) into law, putting in place comprehensive reforms that improve access to affordable health coverage for everyone and protect consumers from abusive insurance company practices.” (Health Care that Works for Americans 2016). This is a very important law for the Americans who do not have nor can they afford health insurance on their own. Some people may not make enough income to be able to carry coverage and may be faced with the difficult decision of choosing between food for their family THE IMPORTANCE OF THE AFFORDABLE CARE ACT (ACA) 3 and health insurance. It is also for the people that are employed but...
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...Reform…………………………………………………………………………9 Conclusion…………………………………………………………………………………….11 References…………………………………………………………………………………….12 Abstract This paper will address some of the issues and trends in health care as an employee benefit. “Employee benefits range dramatically between jobs and careers. Some jobs, such as those that pay minimum wage, do not provide employee benefits while others provide several benefits. Great employee benefits include a health insurance plan, dental insurance, vision insurance, life insurance and a retirement fund. Healthcare, is it still a Benefit? Health insurance ranks as the most important benefit that employees seek from an employer. This topic has been on the hot seat for most companies and employers. Health care costs are on the rise and companies are trying to find ways to combat it. How does this affect the employer/company? How does this affect the benefit offered to the employee? When a company provides health insurance benefits, they pay for all or part of the health insurance premiums for their employees. Employers are not required to provide health insurance coverage to employees. Health insurance is typically a matter of an agreement between an employer and employees. By definition, health insurance coverage is an employee welfare benefit...
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...Abstract This paper will explain how the new Affordable Care Act came to existence in March 2010. In addition, key features of the law will be described and how these new changes affect employees and employers. Introduction The Affordable Care Act (ACA) as signed on March 23, 2010 by President Barack Obama with the purpose to provide complete health insurance that will; hold insurance companies’ accountable, decrease the cost of healthcare, guarantee more choices, coverage expansion, and enhance the quality of care for all Americans (ACA History, 2016). The affordable care Act is comprised of two separate pieces of legislation; Patient Protection and Affordable Care Act, the Health Care and Education Reconciliation Act of 2010 (ACA History, 2016). How ACA Came to Existence For the last 75 years democratic Presidents had attempted to create a nationwide insurance system but they were all unsuccessful. In 2009 was the first year of Obama’s presidency and the house of Democrats introduced a plan of 1,000-page plan with the intention to overhaul the healthcare system on July 14th causing a raged debate on the topic (ACA History, 2016). The senate prohibited individuals that were unlawfully present in the U.S. to benefit from the health reform. Although all republicans voted against it, the senate bill was amended and approved by the House on March 21, 2010 with 219-212 vote (ACA History, 2016). Despite the promise of the GOP candidate...
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...Jennifer Hitt Trends in Health Care Health insurance can provide you with peace of mind. It protects you by covering much of what you would be expected to pay should you need medical care and saves you from the burden of paying the full costs for your care most of the time. Health insurance covers not only the unexpected expenses, like a trip to the emergency room, but it also covers preventive care like annual doctor visits and routine mammograms. Some insurance even covers all or part of prescription cost as well vision and dental care. Whether you’re seeing a doctor or filling a prescription, taking care of your health can be costly. That’s where health insurance can help. Health insurance is an essential protection from the high and often unexpected costs of medical bills. Several sources can provide you with health insurance, including: * Employer group insurance * Government insurance When shopping for the best health insurance policy always consider cost and coverage because it is important to examine all the avenues that are available. Employer Group Insurance Many individuals are able to receive health insurance through their employers, or from other organizations to which they belong, because they offer “group” coverage. The majority of Americans have group health insurance coverage through their employer or the employer of a family member. One advantage that employees in a group health plan receive is the contribution...
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...today, a few to focus on are, Health care reform, and what it means to a small business owner, what changes will be made to make Health care reform work for employers as well as employee. The next issue is The Unemployment rate, and how job cuts affect businesses, employees and the economy. With the new Health Care reform in place, many changes need to be made in the economy, in personal life, and in the Business world. These new changes bring new problems for some. Health care reform and unemployment are not the only issues small businesses are facing. People who have no health care coverage are burdened with the worries of having a health issue and having to miss work and or pay for going to a clinic or hospital, therefore there are more people willing to go to work when they are not well, and bringing on more issues. Issues such as fatigue and possible spread of infection This year there are 150 million employer insured people with health coverage, 50 million uninsured, 40 million on Medicaid, 27 million with none group insurance. It is estimated that in the year 2019 there will be 159 million employers insured people with health care coverage, 22 million uninsured, 51 million on Medicaid and 25 million with non group coverage and 24 million exchanges. Americans from the ages of 19-29 have no health care coverage. “Small business owners, on the positive side, beginning this year, will be eligible for a tax credit to help buy coverage for employees if there are less...
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...employees have medical insurance coverage under group health plans (GHP) that the employers buys from insurance companies. Human resources department manage these health care benefits negotiating with health plans and selecting a number of products to offers employees. Both basic plans and riders offered, riders consist of option purchased by employees to add coverage such as vision and dental. In addition, complementary health care a popular rider covering treatment as in chiropractic, manual manipulation, acupuncture, message therapy, dietetic counseling, and vitamin, and minerals. Employers select certain benefits changing standard coverage or providers during negotiations to reduce the price, an employer may omit specific benefits. For example, coverage of prescription drugs, different provider network (for certain type of care), hire a pharmacy benefit manager (PBM) to operate the prescription drug benefit more inexpensively. Although some large companies the employer cover the cost of employee medical benefits rather than buying insurance from other companies. The employers create self-funded health plans that do not pay premiums to an insurance carrier or a managed care organization. Large companies insure themselves and assume the risk of paying directly for medical services, setting aside funds with which to pay benefits. They may also buy other types of insurance as in vision package instead of insuring the benefit themselves. Employer-sponsored, fully insured...
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...Uninsured Americans Currently uninsured Americans make up approximately 52 million people, these families cannot pay for the high cost of insurance; therefore, they do not get the health care essential to preserve good health. They have to live with the pain and worry of the medical problem then when they do acquire medical care, they take up huge debts and another worry of how to pay for it. The only contemporary advance country that is deprived of a health care system is the United States. The number of uninsured Americans is estimated to upsurge by at least 6.9 million by 2010 meaning 19.2 percent of non-elderly Americans would be uninsured. This is an upsurge of 2.0 percentage points from 2007. The uninsurance still remain a political debate within the government. Increasing insurance costs have partake in a drift in which lesser employers are offering health insurance, and many employers are supervision costs by necessitating higher employee contributions. Many of the uninsured are the working poor or are unemployed, others are healthy and choose to go without it. Some have been excluded by insurance companies and are view as "uninsurable". Some are without health insurance only temporarily; some choose faith-based alternatives to health insurance. The current economic recession because lethargic growing in personal income for American workers is a key influence driving the outcome. Though, because this is build on extrapolating from uninsurance rates among workers,...
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...individual and group insurance plans. Individual health insurance plans were designed to provide insurance to unemployed or self-employed persons not covered under their employer's plan. In some cases, individual insurance can be difficult to obtain at any price. People with pre-existing, previously diagnosed, or treated health problems seeking new health insurance policies are considered high-risk by insurance companies, and may be unable to find affordable health insurance or any health insurance at all. On the other hand, group insurance plans, which provide coverage for two or more individuals, cannot single out high-risk individuals; nor can they deny them health coverage. All individuals are covered regardless of their existing health problems, and high-risk individuals are factored into the total cost of the group plan. The plan descriptions that follow outline the types of individual and group insurance plans widely available today. A first step is to decide if you will take out an individual or a group health policy. Group insurance is only an option for you, if you are a member of a group that offers a group health policy. Common groups that offer insurance are employers, unions, and trade associations. The most common form of group insurance in the US is insurance offered by an employer. Employers frequently offer insurance because the employer gains tax benefits from offering subsidized care and increases the overall health of the employees. Even if you have the possibility...
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...Healthcare Reform Questions & Answers for Employers Updated November 19, 2014 © 2014 GALLAGHER BENEFIT SERVICES, I NC . DISCLAIMER We share this information with our clients and friends for general informational purposes only. It does not necessarily address all of your specific issues. It should not be construed as, nor is it intended to provide, legal advice. Questions regarding specific issues and application of these rules to your plans should be addressed by your legal counsel. Page i | © Gallagher Benefit Services, Inc. 2014 Contents BACKGROUND ......................................................................................................... 1 EMPLOYER RESPONSIBILITIES ......................................................................... 1 General ......................................................................................................... 1 1. Is there anything we have to do immediately? .................................................................. 1 2. Will I be required to offer health insurance coverage to my employees? .......................... 1 3. When will this requirement be effective? .......................................................................... 1 4. We have between 50 and 99 full-time employees (including full-time equivalents). Will we have to do anything in order to qualify for the delay until 2016? ....................................... 1 5. Our plan is self-funded...
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... and health coverage wait time objections, the United States should enact universal health coverage because it would extend quality health coverage to all citizens, reduce employer labor costs, provide constant health coverage, and enable patients to practice preventative healthcare. 2. Topic Sentence for Advantage Section: Universal health coverage should be enacted within the United States because it would provide quality health coverage to all citizens, reduce the labor costs paid by employers, provide continuous health coverage, and allow patients to practice preventative healthcare. A. Advantage...
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