UPS to Drop 15,000 Spouses Due to Obamacare

UPS announced last week that it will be dropping 15,000 spouses of employees from its health care plans due to Obamacare.  Their reasoning is that since Obamacare legislates that your employer must provide coverage or pay a fine, spouses that have coverage available to them through their own employer should take that coverage.  They are also, of course, citing cost as a major factor.  This is a big move by a major U.S. employer and many think it will open the door for other large employers to do the same.

See the complete article here by CBS This Morning by Amanda Cochran.

 

 

WestLake Financial Group, Inc.

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How Will the Government Protect Your Personal Info?

In order to administer Obamacare, the government will need to collect your personal financial information. There is some concern out there that they will not have the systems in place to protect your information by the time it is collected.

According to this article from Forbes by Avik Roy, they are two months behind schedule. What does this mean for the security of your personal information? Does this mean more delays?

 

WestLake Financial Group, Inc.

1477 Barclay Blvd

Buffalo Grove, IL 60089

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Notice of State Exchanges Due October 1.

Employers will need to send a notice to all employees, including those not on benefits or not eligible for benefits, by 10/1/2013 notifying them of coverage that will be available through the exchanges. The DOL has published two different model notices; one for employers who offer health plans and one for employers who do not.  The links for each are below:

Offering Health Plan

Not Offering Health Plan

 

See more details in this article from Employee Benefit News by Keith McMurdy.

 

WestLake Financial Group, Inc.

1477 Barclay Blvd

Buffalo Grove, IL 60089

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Delay of Out-of-Pocket Costs for Some Health Plans

Another delay in the implementation of Obamacare was recently announced. The out-of-pocket cost limits have been delayed one year for health plans that have separate administrators for specific provisions within the plan. Does your medical plan fall into this catagory?

This article from Bloomburg by Mike Dorning goes into futher detail regarding the delay.

 

WestLake Financial Group, Inc.

1477 Barclay Blvd

Buffalo Grove, IL 60089

888-WESTLAKE

Aetna Changing Course Regarding State Exchanges

Another big insurer is backing away from the state exchanges. As more and more insurers are choosing not to participate, who will be left offering plans?

 See the article here from Health Insurance Exchange by Elliot M. Klass explaining Aetna’s decision.

 

WestLake Financial Group, Inc.

1477 Barclay Blvd

Buffalo Grove, IL 60089

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Obamacare Still Unpopular…

And many Democrats are concerned about this as we head into the mid-term elections.

This article from The Wall Street Journal by Gerald F. Seib explains the marketing challenges proponents of the law face. How do you think the unpopularity of healthcare reform will affect the upcoming elections?

 

WestLake Financial Group, Inc.

1477 Barclay Blvd

Buffalo Grove, IL 60089

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Single-payer Healthcare

What many of us have known for some time, the end-game for Obamacare is a single-payer healthcare system.  This was confirmed by Senate Majority Leader, Harry Reid,  in an interview this weekend.

See the complete article here from The Daily Caller by Katie McHugh.

 

WestLake Financial Group, Inc.

1477 Barclay Blvd

Buffalo Grove, IL 60089

888-WESTLAKE

Health Reform for the People, But Not the Rulers

The health reform law is another example of a law that was created for the “good” of the people, but now, with “Rule by Decree” from the White House, one that the lawmakers are not subject too.

This article from The Wall Street Journal lays it out very well. 

 

WestLake Financial Group, Inc.

1477 Barclay Blvd

Buffalo Grove, IL 60089

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All Obamacare Plans Will Be More Expensive

The latest report in July indicates that the Obamacare plans will all be more expensive than current comparable plans available. Doesn’t the first “A” in ACA stand for Affordable?

See the complete article here from Investors.com by John Merline.

 

WestLake Financial Group, Inc.

1477 Barclay Blvd

Buffalo Grove, IL 60089

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Higher Premiums Under Obamacare

We’ve heard the news that some states will be having lower premiums  under Obamacare. Looking into it further reveals that this is due to minimal coverage plans being offered along with excluding people that are ill.

This article from CNNMoney by Tami Luhby goes into further detail behind the costs for plans in the state exchanges.  As the old adage goes, “You get what you pay for.”

 

WestLake Financial Group, Inc.

1477 Barclay Blvd

Buffalo Grove, IL 60089

888-WESTLAKE