ObamaCare Rates revealed in Nevada!

The Nevada Health Link has released what the pricing is going to look like for both silver and gold plans in Nevada. The rates are what it will cost to insure someone without any tax credits or subsidies. http://www.nevadahealthlink.com/individuals/proposed-2014-rates/
The interesting thing is there are only 4 carriers participating and they are all only offering HMO plans. So, if you have a doctor you really love and want to get the tax credits, you might want to think twice about getting those credits.
The silver level coverage is suppose to have a deductible of about $2,000 and not allow for your costs as an individual to exceed $6,400. The plan is suppose to pay approximately 70% of all medical expenses one would receive in a given year. The Gold level plan will cover about 80% and have about a $1,000 deductible. Since we don't have the exact plan designs yet, there is still much in the air about what they will be covering and how much copays will be.

The Nevada Health Link (name of the state exchange) will not be the only place to purchase health insurance. You will still have choices to purchase a plan just you have always had. The new plans carry the same guaranteed-issue rights, but will not carry with them any tax credits to help various income levels with the cost of premiums. You have a choice of working with a broker and deciding which plan fits you best. You may want to choose an HMO on the exchange where costs might be offset by a substantial amount, or you may want to pay a little more and gain a larger network of doctors. Whatever choice you make, you will be avoiding the possible fine (tax) for not having insurance, which is a whopping 1% of your income (or $95, whichever is greater).

2015 Employer extension

Before leaving my office yesterday I was emailed exciting news. The White House extended the employer mandate and fines that require businesses with 50+ employees to offer health insurance until 2015. Although it is not a full repeal (which I would love) it is a step in the right direction. For some companies, they don't offer health insurance because it isn't affordable to do so and for others it is because their employees just don't want to participate. Employers now have a choice and the personal responsibility will lie upon the individual as to whether or not they want to abide by the individual mandate. If an employer wants to continue to recruit or hire great employees, they will still offer coverage and won't have to be fearful as to whether or not they will be penalized for doing so. Their program can be optional and it can again be a tool and not a weapon.

The new healthcare law was a culmination of thought and debate for many years. It was unfortunately pushed through legislation at a time when one party had complete control to do so, not enabling further discussion and allowance of reality to set in. Thankfully the American people are starting to be heard and some changes are going to be put into place to allow for a better transition. I hope and pray that we truly do see some improvements to our system and that healthcare costs truly do decrease for all American citizens.