Most companies are looking to reduce their contributions or transfer a greater portion of health care costs over to their employees. Open enrolment, during which you can change your coverage options, gives you the chance to adjust your plans if the current coverage is turning out to be too expensive for you. For most Americans, this is the only time every year they can make any changes to their prescription costs. [Read more…]
Planning for Changes in Healthcare Laws
The healthcare scenario is going to change significantly because of the reform bill passed by the Obama administration. Health insurance will become compulsory for the majority of the population and failure to get it could lead to a penalty. Though many of the changes are still far away, you should start thinking about how you will adjust to the new system. [Read more…]
How the Healthcare Reform Impacts You
More than 30 million Americans are likely to benefit from the new health care coverage bill signed into law recently. The bill was cleared with a 219-212 vote by the senate a few days back after an extended period of discussions and debate.
Coming on the heels of other health care reforms, the $940 billion plan brings new hope to many Americans who have not been able to claim any aid from the government for their health care expenses. The Patient Protection and Affordable Care Act will modify the insurance coverage for children and senior citizens too. One significant change here is that young people will still be covered by parental insurance policies up to the age of 26. This eliminates the pressure on them if they are unable to find jobs before this but require expensive medical treatment. [Read more…]
Substantial Increase in Health Care Expenses for Employers
A new health care regime is being ushered in the U.S. that is likely to cost a great deal to companies. It has been reported that the increase in the health care expenditure will not be offset by the small tax relief and would significantly change the costs for the companies. [Read more…]
Obama’s Medicare Subsidy Changes to Hit Retirees Hard
President Obama’s healthcare overhaul may well spell trouble for retired employees. Several top companies with substantial staff, both on rolls and retired, have pointed out that this overhaul makes their drug benefit program for ex-employees expensive and non viable.
AT&T recently joined a growing list of US industry majors in broadcasting its whopping $1 billion expense owing to the healthcare policy modifications, which included dramatic changes to the taxation of Medicare subsidies. This figure is nearly a third of the phone company’s latest quarterly earnings. [Read more…]
