- Want Cheaper Healthcare? Just Make Less Money We all know where the road that's paved with good intentions takes us. That's Obamacare in a nutshell. And here's the latest proof: People are being told to work fewer hours and earn less pay so they don't lose their government healthcare subsidies. This isn't going to end well...
- Early Problems with Obamacare Are Bigger Than a Glitch After three years and more than $400 million, it's obvious the technology underpinning Obamacare was woefully inadequate. But even if the government manages to fix the initial problems by late November, as it's promising now, that won't end the website's troubles. Here's why Obamacare is falling apart and what that means for you...
Obamacare Online Exchanges: 9 Real Life Experiences from Money Morning Readers
Considering taxpayers shelled out more than $500 million to build the Obamacare online exchanges, we'd like to know how they're actually operating, for good or for bad.
We know it's not all good...
For example, the federal government is operating an exchange for 36 states, and it's seen some of the worst complications. Part of the problem is volume: Within three days, a whopping 8.6 million people visited healthcare.gov.
We also know that Obamacare's success depends on having a large number of people enroll - especially the younger, healthier crowd. The Congressional Budget Office says Obamacare needs 7 million people to sign up at a minimum for it to stay afloat financially.To read more click here...
- 5 New Obamacare Facts You Need to Know Now that Obamacare is officially up and running (well, sort of), a lot of Americans are anxious to know how well - or how badly - things are going. Here's the latest word on five key aspects of the new health care law... Read more...
- An Obamacare Bailout: A Struggling City's Best New Budget Tool Obamacare popularity is about to soar – among some cities, that is. We're talking about broke cities, which will save billions with the “Obamacare Bailout.” Read More... Read More...
- How Obamacare Will Affect Medicare We know how Obamacare will (or could) affect a lot of our current healthcare options, but what about how Obamacare will affect Medicare? Read more... Read More...
Is Obamacare Creating a Part-Time America?
America has become a part-time nation. The Bureau of Labor Statistics recently reported that in June part-time employees in the labor force reached an all-time high of 28 million, 3 million more than when the recession began in 2007.
The economy lost 240,000 full-time jobs in June and added 360,000 part-time jobs, the BLS noted. Of the 753,000 jobs created this year, 589,000 were part time.
The real unemployment rate in June, the U6, stood at 14.3%, up from 13.8%, a figure that includes part-time workers seeking full-time jobs and those who have become discouraged and are no longer looking for work.
Now many economists and many in the financial press with sympathies to the administration have attributed the rise in part-time America to uncertainty among employers about future profitability and growth and not to the looming Obamacare mandate.
It's ironic that in trying to play down Obamacare's influence on the job market, they end up dissing the president's stewardship of the economy.
However, Obamacare has likely played a significant role in the part-time job wave. Under the Affordable Care Act, companies with 50 or more full-time workers must provide health insurance to all full-time employees, those working 30 or more hours per week.
So if your workers don't work 30 hours per week you don't have to provide health insurance. It makes economic sense to have a part-time work force in many cases. Even with the administration's recent one-year extension of implementing the employer mandate until 2015, most small companies are still preparing to it.
A reported 74% of small businesses are positioning themselves to slash hours, layoff workers or both.Read More...
- These Obamacare Facts Have Our Readers Rattled – Where Do You Stand? Want to sound off about the most frustrating, upsetting Obamacare facts you’ve heard? Want to know how others are preparing? Here you go… Read more... Read More...
Nearly Half of Americans Say Obamacare is a Bad Idea
Obamacare critics have maintained from day one the president's signature healthcare bill is disastrous and doomed to fail.
Now with just months until the bill takes full effect, more and more Americans are beginning to think the same thing.
According to recent NBC News/Wall Street Journal poll, support for the Affordable Care Act is slipping.
The fresh poll shows 49% of Americans say President Barack Obama's health care reform bill is a bad idea. That's the highest percentage since the poll began measuring backing and opposition for the reform in 2009. Only 37% say the plan is a good idea.
The numbers reflect a sharp increase in disapproval since July 2012 following the U.S. Supreme Court's decision to uphold President Obama's healthcare overhaul. At that time, 44% of survey respondents called it a bad idea vs. 40% who called it a good one.
The latest poll also revealed 38% of participants said they and their families will be in worse shape under the new health care law, the highest negative outlook percentage toward Obamacare since it was signed into law in 2010.
Now just 19% say they will be better off while 39% say the law won't make much difference.Read More...
Meet the Controversial "Bad Actor" Who Will be in Charge of Your Health Care
Amid a wash of government scandals, America is vulnerable right now. Actions taken by the IRS have left us feeling utterly degraded by the Obama administration.
And another Washington scandal we see brewing won't make Americans feel any more comfortable about the power granted in our nation's capital.
You see, there's an unelected official who is known as a bad actor, and she's about to be granted broad, undefined power over the people of this country.
The source of her power: Obamacare.
I'm talking about the U.S. Secretary of Health & Human Services, Kathleen Sebelius, who come 2014 could be in charge of your health care.Read More...
- The Scariest Obamacare Facts Yet The real Obamacare facts keep emerging as we get closer to the implementation of this law. Check out the seven scariest facts yet. Read more... Read More...
California Just Gave Us a Glimpse of How Obamacare Will Fail
Turns out no one knows how Obamacare will work - not even the big-name insurers.
And now, we're starting to see the effects of uncertainty.
Today (Thursday), the Los Angeles Times reported that United Health, Aetna, and Cigna have opted out of the California insurance exchange.
UnitedHealth has adopted a wait-and-see policy: "We are simply taking the time to carefully evaluate and better understand how the exchanges will work to ensure we are best prepared to participate meaningfully in their development," explains a spokesman to the LA Times.
Cigna resolved to participate in exchanges in only half of the 10 states where it sells individual health policies, and California didn't make the cut.
Aetna referred LA Times' questions to Covered California, the state agency in charge of implementing Obamacare.
That means millions of Californians who will have to choose health insurance from exchanges or face a penalty will not be able to pick plans from those three big insurers - signaling limited options ahead thanks to Obamacare.
UnitedHealth, Aetna, and Cigna's response to the California exchange is just the beginning.
These three companies are but the first dominoes to fall to Obamacare's less-than-clear implementation.Read More...
How the Sequester is Killing Healthcare Jobs
Sequester-driven budget cuts to Medicare are threatening to spur massive job cuts in the healthcare industry.
And the pain doesn't stop there - the sequester cuts are already making healthcare harder to obtain for some Medicare patients.
Unfortunately, this is just the beginning. The longer Congress allows sequestration to continue, the deeper the cuts will go and the more widespread their impact.
When President Barack Obama and Congress failed to reach agreement on $1.2 trillion in cuts to federal spending before March 30 -- as mandated by the Budget Control Act of 2011 -- the sequester kicked in.
Medicare providers faced mandatory 2% across-the-board reductions in their reimbursements.
After the cuts went into effect on April 1, hospitals, doctors, insurers, prescription drug plans, and other healthcare providers immediately felt the impact.
In short, the sequester is delivering precisely the kind of broad, damaging and indiscriminate cuts that politicians warned would happen.
And as each day passes, the drastic consequences grow worse.Read More...