Friday, December 16, 2016

Do Tax Payers Have An Extra $9.8 Billion To Spare?

By Coleen Elkins     24-7 Health Insurance

House Majority Leader Mitch McConnell promises to begin the repeal of Obamacare on January 3, 2017. The healthcare law was previously repealed by the House and the Senate in December of 2015, but vetoed by President Obama. Legislators can use the prior bill to move forward with some modifications to improve it. Many upcoming changes can occur on January 20th 2017 with the stroke of a pen. 

In the meantime is moving forward with enrollments as if nothing is looming in the future of Obamacare. 

The cost for subsidies has now has risen $9.8 Billion. This $9.8 Billion will be added to the current $32.8 billion making the total paid by the tax payers for 2017 $42.6 billion. 

Why the increase you ask? Because premiums have risen to 60 percent in many states and in the case of Arizona 116 percent for 2017. The benchmark to raise subsidies is based on the average premiums of the second highest cost Silver Plan. 

To make matters worse health insurance companies committed to insure those with subsidies are also receiving some grim news. New reporting from the Washington Post tells us health insurers which offer plans through Affordable Care Act marketplaces “are being paid less than 2 percent of nearly $6 billion the government owes them for covering customers last year with unexpectedly high medical expenses.” The article says the $96 million which insurance companies will receive “is just one-fourth of the sum that provoked an industry outcry a year ago, when federal health officials announced that they had enough money to pay health plans only 12.6 percent of what the law entitles them to receive.” The piece adds that CMS simply posted an online notice last month with this information, instead of making an announcement about the risk-corridors program as it did last year. The Post also points out that this “extreme scarcity of 2015 money is the latest chapter for a problem-ridden part of the ACA designed to cushion insurers from high-cost customers.”

Positive change is on the horizon for insuring America's health. We are staying on top of all the legislative issues to keep you informed.

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Wednesday, December 7, 2016

Insurers Are Working With Congress On The Repeal Of Obamacare

By Coleen Elkins   24-7 Health Insurance

The incoming administration and Congress are working with health insurers to make sure Americans are not impacted by the repeal and replacement of Obamacare. 

Insurers have said they are willing to give up the individual mandate to purchase health insurance if other rules and provisions are put into place to protect them from "adverse selection". 

As 24-7 Health Insurance attends webinars and speaks with insurance carriers we are hearing a very positive tone about the future of health insurance in America and shorter timelines than mentioned in the article for replacement plans. 

We believe the Trump Administration will use both the regulatory process and Executive Action to begin the repeal process immediately. This could lift the mandate and the penalties for not purchase an ACA compatible plan. 

From Bloomberg News:

Known as the “individual mandate,” the rule was a major priority for the insurance industry when the Affordable Care Act was legislated, and also became a focal point of opposition for Republicans. In a position paper released Tuesday -- the first since President-elect Donald Trump’s victory -- health insurers laid out changes they’d be willing to accept.
“Replacing the individual mandate with strong, effective incentives, such as late enrollment penalties and waiting periods, can help expand coverage and lower costs for everyone,” AHIP said.

You can read the entire article here: 

Health Insurers Will To Give Up A Key Obamacare Provision

We are licensed in 11 states. We look forward to being of service for all your health insurance and Medicare needs!


Coleen Elkins
24-7 Health Insurance

Friday, December 2, 2016

The Healthcare Principles of Donald Trump and the Republican Party

By Coleen Elkins     24-7 Health Insurance

The Healthcare Principles of Donald Trump and the Republican Party

1. Repeal and Replace “or Amend” the Affordable Care Act. How can that happen? There are three ways to complete the process. 

2. Return power to the states in regulating insurance markets, limit federal requirements on both private insurance and Medicaid, and reconsider costly mandates. 

3. Empower individuals and small businesses to form purchasing pools. 

4. Individuals with preexisting conditions who maintain continuous coverage should be protected from discrimination.

5. Allow the purchase of insurance across state lines. 

6. Promote Health Savings Accounts (HSA’s), price transparency and enact medical liability reform.

7. Reform the Food and Drug Administration. 

8. Block grant Medicaid and other payments, and assist all patients including those with pre-existing conditions to obtain coverage in a robust consumer market. 

We have attended multiple carrier and legislative webinars and had private conversations with insurers. We are confident insurers along with the National Association of Health Underwriters are working with Congressional leaders around the clock to prepare for the 115th Congress being sworn in the first week of January 2017. 

Stabilize the health insurance market 
Improve health plan affordability and availability
Optimize conditions under the existing market
Work with President-elect Trump and congressional leadership to determine the best approach and timing for change in our healthcare system.
Continue to advocate for a strong private insurance market 

We promise to keep our readers updated as we learn more. Thank you for the opportunity to be of service to all that are interested in the future of insuring Americas Health.