During this Thanksgiving Break, some families across the U.S. engaged in talks about insurance coverage. Recently, media coverage on the Affordable Care Act, dubbed "Obamacare," has taken the spotlight. Coverage was mostly focused on problems with the healthcare.gov site, a site where customers sign up for new insurance plans doled out by the government. Massive problems have arisen from the poorly built and funded site. There is large controversy whether the government can provide such social programs. The GOP argues no and the Democrats blame them for reducing funding for the site.
Basics (Credit to Yahoo Finance! and the Entrepreneur):
Changes by the Year 2013
• Employers begin reporting healthcare premium costs on 2012 W2s.
• Employers must provide employees with notice of exchange availability.
• State exchanges begin open enrollment in October.
• Employers must withhold an additional 0.9 percent from the FICA wages of employees earning more than $200,000 per year.
• Flexible savings account spending limit is reduced to $2,500.
2014
• Employers with more than 50 full-time or FTE employees must provide health insurance to those employees or face penalties.
• Annual limits on health-insurance coverage are eliminated.
• Clinical-trial insurance coverage provision begins.
• Coverage denial based on preexisting conditions or gender is eliminated.
• Small-business health-insurance tax credit increases.
Do you agree/support Obamacare? Answer in the poll and comment below! Be nice to all your fellow right, left and center users.
Basics (Credit to Yahoo Finance! and the Entrepreneur):
Changes by the Year 2013
• Employers begin reporting healthcare premium costs on 2012 W2s.
• Employers must provide employees with notice of exchange availability.
• State exchanges begin open enrollment in October.
• Employers must withhold an additional 0.9 percent from the FICA wages of employees earning more than $200,000 per year.
• Flexible savings account spending limit is reduced to $2,500.
2014
• Employers with more than 50 full-time or FTE employees must provide health insurance to those employees or face penalties.
• Annual limits on health-insurance coverage are eliminated.
• Clinical-trial insurance coverage provision begins.
• Coverage denial based on preexisting conditions or gender is eliminated.
• Small-business health-insurance tax credit increases.
Do you agree/support Obamacare? Answer in the poll and comment below! Be nice to all your fellow right, left and center users.
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