What Changes Will We See With Health Care

Health Care Changes
It seems there will be some changes that will take effect fairly quick. Let me outline a few from this article.

"Insurers will be required by September to begin providing health coverage to kids with pre-existing illnesses and allow parents to keep children younger than 26 on their plans as the clock has begun ticking on many of the law’s provisions."

Let's think about this one. How many private insurers will survive with this, and if they can survive where do you think they will get the money to pay for it. If you said, oh, OUR premiums will go up, bingo...you win the prize. They will have to provide coverage for all diseases, asthma, heart disease, cerebral palsy, muscular dystrophy, cystic fibrosis, etc. This will be very expensive for insurance providers to cover. The added expense will be tacked onto all other policies, which means our prices will increase.

"Insurers also will have to reveal how much of members’ premiums they spend on medical care, as opposed to executive salaries or other administrative costs. Next year, they’ll owe a rebate to customers if the insurers spend less than 80 percent on benefits for people in individual or small-group plans."

Washington is putting a cap on what type of profits the insures can make. It looks like they will be "allowed" to have 20%, since 80% will go to benefits. The remaining 20% needs to pay salaries, mortgages, maintance on building, advertising, utilities, office supplies, vehicles and vehicle maintance, etc. There probably won't be too much left over for shareholders if I had to guess. This means many people that bought stock in insurance companies may not see the return on investments they might want.

"The legislation also creates an Independent Payment Advisory Board to suggest cuts in spending by Medicare, the government health program for the elderly and disabled, that could threaten payments for drug and device-makers."

This concerns me as well and should concern you as well. This Board will suggest cuts in spending by Medicare. Have to watch this one closely.

Obamacare Day One
"Even before President Obama signed the bill on Tuesday, Caterpillar said it would cost the company at least $100 million more in the first year alone. Medical device maker Medtronic warned that new taxes on its products could force it to lay off a thousand workers. Now Verizon joins the roll of businesses staring at adverse consequences."

Well, how do you think Caterpillar will make up for the $100 million? I'll tell you, increase in prices on their products and services as well as layoffs. They will probably also send jobs overseas as it's less expensive to get workers in India to build parts and equipment.

"In an email titled "President Obama Signs Health Care Legislation" sent to all employees Tuesday night, the telecom giant warned that "we expect that Verizon's costs will increase in the short term." ...Expect changes for the worse to your health benefits as the direct result of this bill, and maybe as soon as this year."

Verizon seems to think their costs will increase also. How will they deal with it, I think the last sentance gives a clue. Benefits will get worse, meaning less coverage or other employee benefits will be discontinued to pay for the increased cost of the health insurance.

"In its employee note, Verizon also warned about the 40% tax on high-end health plans, though that won't take effect until 2018. "Many of the plans that Verizon offers to employees and retirees are projected to have costs above the threshold in the legislation and will be subject to the 40 percent excise tax." These costs will start to show up soon, and, as we repeatedly argued, the tax is unlikely to drive down costs. The tax burden will simply be spread to all workers—the result of the White House's too-clever decision to tax insurers, rather than individuals. Verizon CEO Ivan Seidenberg's health-reform ideas are 180 degrees from Mr. Obama's, but Verizon's shareholders and 900,000 employees and retirees will still pay the price."

The government will decide what is a "high-end" health plan. If your employer or you have what is considered a "high-end" plan, then there will be a tax imposed. If the employer is paying this tax, you can bet this cost will be passed on to someone, either higher prices for their goods/services or a decrease in saleries, layoffs, or decrease in other employee benefits.

"Businesses around the country are making the same calculations as Verizon and no doubt sending out similar messages. It's only a small measure of the destruction that will be churned out by the rewrite of health, tax, labor and welfare laws that is ObamaCare, and only the vanguard of much worse to come."

People, I believe that if the health care plan goes through as it is written it will backrupt America. Watch this closely, because if it continues to move forward without SIGNIFICANT changes I believe you better start to prepare for living in America that will be drastically different.  Be warned, and keep your eyes open, wide open on this issue