The short answer is yes. ACA (Obamacare) impacts everyone, and some more than others.
Employees who receive coverage through their work may notice very little change in their plan or contribution . . . unless they work for a smaller company (fewer than 50 employees) that is either terminating the group health plan or reducing hours below 30 per week to avoid paying for health insurance for those employees.
Those who will see the biggest impact are those without health insurance now. Most of them will be eligible for coverage, regardless of your medical history. If your income is less than 133% of the FPL (Federal poverty level) you may qualify for Medicaid at no charge to you.
If you earn more than 133% of the FPL but less than 400% you may still qualify for a premium subsidy.
Those earning more than 400% of the FPL can purchase insurance in the open market (off exchange) and pay the full premium.
Individual major medical plans will have considerably higher premiums than you have now (in 2013), fewer plan choices and fewer carriers to pick from. Premiums for plans issued in 2014 will be roughly double 2013 premiums.
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Additionally, each state may be impacted differently. For example, my home state of Ohio is expected to see some of the highest increases, since very few benefits were previously mandated.
Purchasing coverage outside of the Exchange may be a viable affordable option if the federal tax subsidy is not available.
Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
Every citizen is impacted in some way by the Affordable Health Care Act. The law provides that each citizen either carry health insurance or pay a penalty, which the Supreme Court has determined is a tax. The description of the coverage you must carry is mandated by the act and includes services which you may never require; however, the act mandates the coverage.
The legislation creates a situation where those who previously did not have coverage are now receiving coverage and a portion of the cost is being born by the government, which is your money at work. That certainly affects you.
The legislation also provides for some rather complicated tax reporting.
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Employees who receive coverage through their work may notice very little change in their plan or contribution . . . unless they work for a smaller company (fewer than 50 employees) that is either terminating the group health plan or reducing hours below 30 per week to avoid paying for health insurance for those employees.
Those who will see the biggest impact are those without health insurance now. Most of them will be eligible for coverage, regardless of your medical history. If your income is less than 133% of the FPL (Federal poverty level) you may qualify for Medicaid at no charge to you.
If you earn more than 133% of the FPL but less than 400% you may still qualify for a premium subsidy.
Those earning more than 400% of the FPL can purchase insurance in the open market (off exchange) and pay the full premium.
Individual major medical plans will have considerably higher premiums than you have now (in 2013), fewer plan choices and fewer carriers to pick from. Premiums for plans issued in 2014 will be roughly double 2013 premiums.
So yes, ACA will affect you.
Purchasing coverage outside of the Exchange may be a viable affordable option if the federal tax subsidy is not available.
The legislation creates a situation where those who previously did not have coverage are now receiving coverage and a portion of the cost is being born by the government, which is your money at work. That certainly affects you.
The legislation also provides for some rather complicated tax reporting.