Molly Hatchet fans pay attention. The IT testing for the new health insurance marketplaces is two months behind schedule and we are within two months of open enrollment. One side is exploring taking the financing out of the law while the other plans to campaign on the issue in 2014. Nobody is talking about the fact that the feds have been working on this thing for three years and millions of consumers are expecting a benefit soon. Still there remains no bi-partisan effort to fix anything. Is this thing flirting with disaster?
Nobody with any sense wants this to happen but an adult conversation will need to be had because the misinformation campaigns are beginning really soon. Find out the top ten myths of the healthcare reform by streaming this segment from our weekly radio program featuring the latest of what you need to know right now about the law every week.
Here is an Obamacare summary for the week of August 16th
- Federal officials are behind schedule on two critical implementation components and as we inch closer to the October 1st deadline for the exchanges to open one has to wonder if this can end well. The first challenge to over come is the IT testing. I think we know the government wastes a ton on technology and they are behind schedule two months on testing of the federal exchanges.
- Also important is the fact the feds are still waiting to finalize the data hub that will cross verify individuals incomes. This is scheduled to be done the day before (September 30th) the law goes live with open enrollment. They are certainly cutting it close and one has to wonder if it will end well or if another delay will be needed. Again, this law passed in 2010 for those just joining the conversation.
- Another delay was announced this week. This time it is the delay in out of pocket spending caps until 2015. The explanation has to be they did not how to process the rate increases we are seeing in individual markets. One of the problems with mandating all of these coverage requirements is it could lead to what are called skinny networks for certain plans. Senate leadership warns of “data thieves” taking advantage of the system that will be full of loopholes until they can tighten them over time.
- Average Premium Tax Credit under the law is going to be around $2,700 for an average American and a little less than half will qualify for help under the healthcare reform law. This contradicts the perception that everyone will get free healthcare. Support for premiums only applies to individuals or families making between 100-400% of the FPL according to the the Kaiser Family Foundation. Check out their comprehensive analysis here.
- The architect of ACA implementation has to be Secretary of Health and Human Services and she recently called efforts to defund this law “futile.” She was vindicated by the Republican leader in the Senate, Mitch McConnell, who this week agreed that is a bad move to try to leverage this law as unpopular as it may be against a government shutdown.
The economic impact of the law will continue to be felt by millions of Americans who are suffering from adverse consequences like a full time worker being defined as a 30 hour per week under the new normal of the healthcare reform law. Job creators are hesitant to hire because of the uncertainty associated with this law and this was exacerbated by the delay in my view. Omaha entrepreneur Greg Cutchall, joined America’s Healthcare Challenge for a thought provoking conversation on how the law is impacting his operation. He owns over 50 restaurants in 6 states.
Related resources to the economic impact of the Affordable Care Act.
Stream America’s Healthcare Challenge, Week of August 2nd, 2013.
On this week’s show find out how a major employer is being impacted under the law. Also, the beltway was full of activity this week and the two head honchos in charge of implementing ObamaCare were on Capitol Hill explaining their strategy to a contentious Ways and Means Committee. Since Sean worked for the Senate Finance Committee, the Ways and Means counterpart in the Senate, he scouted the hearing this week and provides comprehensive analysis and commentary. A ton of things happened this week inside Washington and Sean breaks them all down. Also Check out Sean on the Tom Becka Program talking about the latest you need to know.
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