Surprise: New insurance fee in health overhaul law
Source: AP-Excite
http://apnews.excite.com/article/20121210/DA333OJ80.html
WASHINGTON (AP) - Your medical plan is facing an unexpected expense, so you probably are, too. It's a new, $63-per-head fee to cushion the cost of covering people with pre-existing conditions under President Barack Obama's health care overhaul.
The charge, buried in a recent regulation, works out to tens of millions of dollars for the largest companies, employers say. Most of that is likely to be passed on to workers.
Employee benefits lawyer Chantel Sheaks calls it a "sleeper issue" with significant financial consequences, particularly for large employers.
"Especially at a time when we are facing economic uncertainty, (companies will) be hit with a multi-million dollar assessment without getting anything back for it," said Sheaks, a principal at Buck Consultants, a Xerox subsidiary.
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This March 23, 2010 file photo shows Ttwenty two pens next to President Barack Obama as he signs the health care reform bill in the East Room of the White House in Washington. Your medical plan is facing an unexpected expense, so you probably are, too. It's a new, $63-per-head fee to cushion the cost of covering people with pre-existing conditions under President Barack Obama’s health overhaul. The charge, buried in a recent regulation, works out to tens of millions of dollars for the largest company health plans, and much of that is likely to be passed on to employees. Multiple pens are used to sign legislation, and then distributed to supporters of the legislation. (AP Photo/Charles Dharapak, File)
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In the meantime, thank you, America, for making sure my wife with MS will never go without coverage.
Yes, in fact, we are all in this together.
