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The Feds released more regulations on how insurers and some large employers need to report on plans they are offering and the people that are enrolled one day before the exchanges are set to open.

See this article from The Hill for further clarification.

 

WestLake Financial Group, Inc.

1477 Barclay Blvd

Buffalo Grove, IL 60089

888-WESTLAKE

Affordable is a Relative Term

We have heard reports that the Health Exchange premiums will be lower and affordable, but that would depend on the consumer.  What may be affordable for one person may not be affordable for another with the same income.

This article from Kaiser Health News does a great job going into further detail.

 

WestLake Financial Group, Inc.

1477 Barclay Blvd

Buffalo Grove, IL 60089

888-WESTLAKE

No Penalty for Not Providing 10/1/2013 Exchange Notice

In a recently posted FAQ on the U.S. Dept. of Labor website, the question was asked if there would be a penalty or fine for not providing the notice of the Health Insurance Market place. The answer is no.

Here is the link.  Does this affect your decision as an employer to send this notice out?

 

WestLake Financial Group, Inc.

1477 Barclay Blvd

Buffalo Grove, IL 60089

888-WESTLAKE

How are you keeping track of all the PPACA penalties?

There are more than 10 different things to comply with that fall under the “general compliance” penalty of $100-a-day.  Do you know what those are and if so, who is making sure that your company is complying?

See this article for further explanation of these and more penalties.  And give us a call if you are in need of some help keeping track of them.

 

WestLake Financial Group, Inc.

1477 Barclay Blvd

Buffalo Grove, IL 60089

888-WESTLAKE

What's Obamacare?

With the insurance exchanges set to open October 1st, many Americans are still very unfamiliar with what health care reform does and what it means to them.  If few people go to the exchanges to sign up for coverage, how will it effect the success, or lack there of, of the exchanges?

This article from cnbc.com by Dan Mangan explores this further.

 

WestLake Financial Group, Inc.

1477 Barclay Blvd

Buffalo Grove, IL 60089

888-WESTLAKE

Massive Spike in Health Care Costs

With all the added fees and the costs of having to cover dependent children to age 26, who do you think will shoulder the burden of these costs?  That’s right, the employee.

See this article about how it will be affecting Delta from Fox News by Judson Berger.

 

WestLake Financial Group, Inc.

1477 Barclay Blvd

Buffalo Grove, IL 60089

888-WESTLAKE

More Union Favoritism?

An article just out today by Forbes says that the White House is considering giving subsidies, that were initially intended for the uninsured, to unions.  Is this an effort to placate the union outcry regarding Obamacare?

See the complete article here by Avik Roy.

 

WestLake Financial Group, Inc.

1477 Barclay Blvd

Buffalo Grove, IL 60089

888-WESTLAKE

Obamacare to Encourage Smoking?

Obamacare allows people to be charged higher premiums if they are a tobacco user.  Because of this, some people may not be subject to the individual mandate by saying that they smoke.  Incredible.

See this article from The Orange County Register by Joel Hay for the complete details.

 

WestLake Financial Group, Inc.

1477 Barclay Blvd

Buffalo Grove, IL 60089

888-WESTLAKE

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.

1477 Barclay Blvd

Buffalo Grove, IL 60089

888-WESTLAKE

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

888-WESTLAKE