And the officially designed screwees are:
â¢âSmall Businesses. Employers who donât provide coverage will have to pay a tax up to 8% of their payroll. Yet those who do provide coverage also have to pay the taxâif the law says their coverage is not âadequate.â Amazingly, even if a small business provides adequate insurance but its employees choose coverage in another plan offered through the government, the employer still must pay.
â¢âHealth Savings Account (HSA) holders. Eight million Americans, according to the Treasury Department, are covered by plans with low-cost premiums and high deductibles that are designed for large, unexpected medical costs. Money is also set aside in a savings account to cover the deductibles, and whatever isnât spent in one year can build up tax-free. Nearly a third of new HSA users, according to Treasury figures, previously had no insurance or bought coverage on their own.
These policies will be severely limited. The Senate plan says a policy deemed âacceptableâ must have insurance (rather than the individual) pay out at least 76% of the benefits. The House plan is pegged at 70%. Thatâs not the way these plans are set up to work. Ray Ramthun, who implemented the HSA regulations at the Treasury Department in 2003, says the regulations are crippling. âCompanies tell me they could be forced to take products off the market,â he said in an interview.
â¢âMedicare Advantage users. Mr. Obama and Congressional Democrats want to cut back this programâcare provided by private companies and subsidized by the government. Medicare Advantage grew by 15% last year; 10.5 million seniors, or 22% of all Medicare patients, are now enrolled.
Health-Care Reform Would Cost Seniors and Young People Plenty - WSJ.com
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