New insurance fee in health overhaul law likely to hit consumers
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Your medical plan is facing an unexpected expense, so you probably are, too. It's a new, $63-per-head fee to cushion the cost of covering people with pre-existing conditions under President Obama's health care overhaul. The charge, buried in a recent regulation, works out to tens of millions of dollars for the largest companies, employers say. Most of that is likely to be passed on to workers. Employee benefits lawyer Chantel Sheaks calls it a "sleeper issue" with significant financial consequences, particularly for large employers. "Especially at a time when we are facing economic uncertainty, (companies will) be hit with a multi-million dollar assessment without getting anything back for it," said Sheaks, a principal at Buck Consultants, a Xerox subsidiary. Based on figures provided in the regulation, employer and individual health plans covering an estimated 190 million Americans could owe the per-person fee.
People:
President Obama
Overall Sentiment: 0.0860414
Relevance: 0.725437
Chantel Sheaks
Overall Sentiment: 0.0322924
Relevance: 0.531344
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| -0.13057 | "Especially at a time when we are facing economic uncertainty, (companies will) be hit with a multi-million dollar assessment without getting anything back for it," said Sheaks, ... |
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Gretchen Young
Overall Sentiment: 0.280651
Relevance: 0.417813
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| 0 | "This kind of came out of the blue and was a surprisingly large amount," said Gretchen Young, ... |
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Paul Fronstin
Overall Sentiment: 0.299089
Relevance: 0.307736
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Additional Info:
Organization: Obama administration
Overall Sentiment: -0.368293
Relevance: 0.566492
Organization: America's Health Insurance Plans
Overall Sentiment: 0.305027
Relevance: 0.456247
Organization: Health and Human Services Department
Overall Sentiment: 0
Relevance: 0.412268
Organization: U.S. Treasury
Overall Sentiment: 0.0267118
Relevance: 0.352523
Organization: ERISA Industry Committee
Overall Sentiment: 0.44011
Relevance: 0.336859
Organization: Medicare
Overall Sentiment: 0.144909
Relevance: 0.323619
Organization: Congress
Overall Sentiment: -0.0493072
Relevance: 0.319384
Organization: Employee Benefit Research Institute
Overall Sentiment: 0.0734365
Relevance: 0.302739
Company: Buck Consultants
Overall Sentiment: 0
Relevance: 0.386587
FieldTerminology: health insurance companies
Overall Sentiment: -0.354837
Relevance: 0.504907
FieldTerminology: insurance plans
Overall Sentiment: 0.0287042
Relevance: 0.375771
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- health
- health insurance
- President Obamas
- U S
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