October 1, 2022

Healthke

All about your health

Health Care Reform – Busting The 3 Biggest Myths of Obamacare

5 min read

In recent months. HHS has introduced many Health Care Reform rules and regulations. Every time this happens. the Wall Street Journal. the New York Times. and TV news programs cover it. Analysts discuss the positives and cons for corporations and individuals. And also something related to detox you can visit

one writer looked at the regulation

Often. one writer looked at the regulation and wrote about it. Other writers use portions from the first article and rewrite them. By the time the information is widely spread. the regulations and rules are twisted and warped. and what appears in the media doesn’t always reflect the regulations.

We’ll discuss three popular myths today. Some believe these falsehoods. and others are unsure. therefore, debunking them now is necessary.

First. reform only affects the uninsured. Health care reform won’t impact Medicare benefits or the program. Health care reform will lower expenses.

Reform affects only uninsured

First. health care reform only affects the uninsured. “I already have coverage. so, I won’t affected by Obamacare.” or “I’ll just keep my grandfathered health insurance plan.” “I have group health insurance. so, I won’t affected by health care reform.”

Health care reform affects everyone. In 2014. we’ll have a completely new collection of health plans with rich perks and added features. New plans cost more.

Uninsured. Health Care Reform

Uninsured people face a penalty in 2014 if they don’t get health insurance. Some healthy uninsured will see that penalty and think. “I make $50.000. therefore, I’ll pay a $500 penalty or $1.000 for health insurance. I’ll pay then.” Regardless. health care reform will affect them. Mandates effect insured and uninsured.

Grandfathered health plans and reform

Health care reform won’t affect anyone with grandfathered coverage. Because of the life cycle of their grandfathered health plan. it will make such policies more expensive as they discover plans with richer benefits that would more advantageous for any chronic health conditions they may have.

As the pool of grandfathered plan members shrinks. the cost of those policies will rise even faster. Obamacare will affect grandfathered health plans.

Group Health Insurance and Health Reform

Health care reform will mainly affect the small group market. Smaller companies will be affected. even if they’re exempt from Obamacare.

Many studies and polls reveal that businesses with 10 or less employees will consider dropping health insurance coverage altogether. Instead. they’ll have employees use the exchanges.

Some carriers expect 50% of small groups with 10 or fewer employees to forgo health insurance between 2014 and 2016. This will affect everyone with group health insurance. especially those in small employers that abandon coverage.

Reform won’t affect Medicare

Next. reform wouldn’t affect Medicare. From the start. the biggest cuts targeted Medicare. When you look at Medicare’s portion of the overall federal. you can see that in 1970. Medicare was 4% of the U.S. federal budget. and by 2011. it had grown to 16% of the federal budget.

Medicare is the fastest growing of the major federal entitlement programs. expanding by approximately 70% from 2002 to 2012.

Medicare is one of the primary areas Obamacare is trying to control so it doesn’t bankrupt the U.S. Medicare will impacted. and the initial cuts are around $716 billion.

Effects of Medicare Advantage cuts

Medicare Advantage is primarily affected by the $716 billion decrease. This will raise Medicare Advantage premiums and reduce benefits.

Medicare Advantage cost increases

Zero-premium Medicare Advantage plans are popular right now. They regard Medicare as an easy choice because it’s free for them: “Sure. I get Medicare benefits. I don’t pay for it; why not?” Now Medicare rates will rise to $70. $80. $90. $100. Some Blue Cross Medicare Advantage plans did that this year. Future will worse.

Medicare Advantage cuts

Many Medicare Advantage plans raise copayments. deductibles. and co-insurance rates to reduce premium increases. They’ll shift additional costs to Medicare Advantage recipients to lower rates. Medicare Advantage premiums and benefits will rise.

Medicare doctors dwindle

As Medicare doctors receive less money for Medicare Advantage patients. they’ll cease accepting new patients. Unless improvements are done in the next five years. the pool of Medicare doctors will decline. Health care reform will influence Medicare significantly. Everyone’s waiting to see what happens.

Reform will lower healthcare costs

Last. everyone thinks Obamacare would lower healthcare expenses. False. Early in the process. one of the goals for change was to lower healthcare expenses.

The emphasis switched from cost reduction to industry regulation. After the transfer. spending cuts were put on hold. Obamacare includes some cost-cutting measures. but the focus is on regulating health insurance. Richer benefits mean higher pricing. therefore, the new plans cost more.

Will reform subsidies make plans affordable?

Many individuals ask. “Will the subsidies make health insurance more affordable?” Yes. subsidies can help make plans affordable. If you make $1 more. the inexpensive plans can cost thousands more per year. At this stage. it’s debatable whether a subsidy would make it affordable. We must see these plans’ pricing.

Consumers pay new health care reform taxes

Then there are new health care reform levies to pay for Obamacare. Everyone with health insurance. whether in a large group. small group. or individually. will taxed to pay for reform. Health care reform increases taxes that insurance companies must collect and pay. but they’ll pass them on to consumers.

Mandate won’t significantly reduce uninsured.

Initially. health care reform’s mandate is weak. Everyone must have health insurance or face a penalty. Healthy people will wait until the law forces them to acquire health insurance. Chronically ill people who couldn’t get insurance will have it in 2014.At the end of that year. the cost for the plans is going to go up in 2015. I can guarantee that that’s going to happen. because the young healthy people are not going to motivated to get into the plans. Chronically unwell patients will join costlier plans and push up costs.

Health Reform’s Purpose Is Semantics

Health Care Reform would help lower future costs if we do nothing today. according to Obama administration documents from 2010 and 2011. This was often highlighted. They said reducing health care expenses will cut future costs. Not today. but doing nothing would reduce future costs.

Great. we’ll pay less in 10 years. And we all know how accurate future projections usually are. We’re all paying more now. and we’ll pay more in 2014. 2015. and 2016. That will offend people.

Conclusion

Those three myths. that health care reform is only going to affect the uninsured. that it won’t affect Medicare beneficiaries. and that Obamacare is going to reduce healthcare costs. are just that. They are myths. There’s nothing to them.

It’s important that you pay attention to what’s happening with health care reform. because there are more changes that are coming as we go through this year. 2013. Knowing how to position yourself so that you’re in the right spot to able to make the best decision at the beginning of 2014 is going to important for everybody.