Wednesday, May 18, 2011

Obamacare Waivers, The Simple Facts.

Just a tid-bit of information on the "Obamacare Waivers".  It would seem that many people feel that certain companies are being given waivers unfairly. The information provided is to help more people obtain an understanding of the conditions required for a company to receive such a waiver.

The waivers are granted to protect people who are getting marginal insurance - insurance called mini meds high deductible and restrictive policies. These policies are provided by companies that feel they should offer something but they can't afford the prices for health insurance. Under the law these mini med policies are going away to be replace by insurance options that will be offered by the states in 2014. Until the time that these markets are established the employees of these companies with these policies are going to be allowed to remain at least status quo until better offerings are established in 2014 (when the affordability and scope of their coverage will improve)

The waivers are for one year. If your company qualifies it is eligible Pelosi does not have to be contacted or paid off to hand out this favor. (Many of these waivers are granted to restaurants and other tourist type establishments, is it really a stretch to believe that San Francisco might be a little more likely than Ida Grove Iowa to have places like this) It helps both the company that is responsible enough to provide some kind of insurance and the employees of the company, it is a good policy.

The waivers are established as such -

--"To ensure that we protect the coverage that these workers have today until better options are available for them in 2014, the law allows HHS, in extreme cases, to issue temporary waivers from the phase out of annual limits. There are some important facts to remember about these temporary waivers:

-- The waivers only apply to one provision of the law – the provisions phasing out annual limits. Insurance companies and employers that receive waivers must comply with all other parts of the Affordable Care Act.

-- The waivers last one year. Insurance companies must reapply for the waivers each year between now and 2014 when annual limits on coverage will be completely prohibited and individuals will have more affordable and better private insurance choices in the competitive Exchange markets.

-- All employers and insurers that offer mini-med plans may apply for a waiver if they demonstrate that there will be large increases in premiums or a significant decrease in access to coverage without a waiver.


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