Category Archives: health

health

Is Obamacare good for insurance companies?

Does ObamaCare service insurance companies?

insurance-companies-obamacare

Answering this question can be rather difficult, as dependent upon the circumstances it seems to have the potential to go either direction.

For employers that voluntarily comply with ObamaCare services and coverage, they receive tax ‘kickbacks’. In fact, even those that offer it by force and do so accordingly will also receive tax breaks and benefits.

From one prospective, ObamaCare seems to have the potential to be beneficial for many insurance companies – including government funded ones – in consideration of it’s forced-nature and the obvious financial benefits – arguably burden for some – of those that are required to do so.

Taking into consideration the rather fractionalized percentage of individuals that are “not” required to register for medical insurance or ObamaCare due to income, it becomes rather evident that insurance companies are going to make a substantial added revenue due to “forced” customers. However, on the same token, one might also consider the prospective and reality that, as it’s principally designed, insurance companies are in a position to lower their premiums for the insured, so in turn lose revenue in that sense.

Ultimately, it’s really ‘company-specific’, since some insurance companies are more popular than others, might benefit, or otherwise feel financial loss or burden due to these new government regulations or Act.

health

Can employees opt out/refuse of health insurance?

In today’s modern world, workforce, and governmental standards, rules, and regulations what is expected or required of employees and individuals alike when it comes to medical insurance can be a bit confusing.

employees-health-insurance

In fact, there are variety of ways in which a citizen can be penalized for not pursuing, obtaining, and sustaining an “adequate” (as defined by the U.S. Government) medical insurance plan. Such a plan is actually broken down and identified to be at least 60% of total coverage, and catastrophe (fatality) coverage – for those 30 years or younger.

In consideration of finances and desirability, many individuals and employees find themselves less concerned about how or why their employer will react if they deny employee-based medical benefits and instead are drawn to the heavy penalties applied by the U.S. government if not adequately obtained.

The exception and important consideration for all to remember is that a health insurance premium that exceeds 8% of an individual’s salary can be appreciated and identified as “unaffordable” and in turn release the employee from responsibility or liability for not pursuing medical coverage through their employer.

However, unless they acquire a “below poverty” or minimum salary reduction and waiver exception for health insurance, individuals can expect to face a fine and deduction of their tax returns for refusing to maintain medical insurance throughout the year. This is especially applicable for citizens that for whichever reasons disregarded ObamaCare, Medicaid, or any other government, NGO, or general market-place affordable health insurance plans – or one from their employer or a loved one.