Health Insurance Brokers in Dallas Need Help Mitigating the New Obamacare Law
Oct 15, 2017
The overall effects of the Executive Order coming out of the White House could Dallas health insurance rates
Dallas , United States - October 14, 2017 /PressCable/ —
Dallas health insurance broker’s job has just gotten more complicated. The White House announced Thursday to immediately stop making Cost Sharing Reduction (CSR) payments to insurers who sell Obamacare health plans. This move will increase premiums nationwide upwards of 25% or more and is expected to lead many insurers to exit the marketplace. CSRs are designed to reduce the out-of-pocket cost to low income insured persons on Obamacare. Out-of-pocket cost include deductibles, co-insurance and prescription drugs that insurers must pay before or with a medical purchase.
A greater number of people receiving health insurance in Dallas and other large cities, about 85 percent of all Obamacare exchange customers, qualify for subsidies that reduce their monthly plan premiums. Those subsidies, in the form of federal tax credits, are not at risk from the action taken to immediately eliminate CSRs. It is estimated by the Congressional Budget Office that as-a-result of eliminating CSRs, the federal deficit would increase by $195 billion by 2020. This accomplishes the opposite result of its intent.
For months in 2017, insurers, health-care providers groups, patient groups and state insurance officials have expressed concerns that cost sharing reimbursements could be cut off. Already, health insurance agents in Dallas have gotten emails from clients asking, “Why has my premium suddenly increased, starting at the end of the month, from $360/month to over $900/month”, says John Thornton, an insurance broker with Insurance4Dallas. This will cause many people who depend on subsidies to make additional monthly payments to insurance companies so that coverage is not loss.
This decision is a result of the previous Congress successfully challenging with a lawsuit the last administration’s decision to make reimbursement payment to insurers without getting the express budgetary authorization from Congress. So far, Attorney Generals in 18 states were given permission to intervene in the pending appeal of the federal court decision that had ruled the payments were illegal given their lack of congressional authorization.
At the same time, earlier the same day, another congressional order announced consumers could purchase short-term policies, which do not cover pre-existing conditions. Covering pre-existing conditions is a requirement of all Obamacare plans. Short-term policies do not have guarantee issuance when the policy term expires. This puts people believing they are saving money by purchasing a short-term policy in a compromising position if they have a serious illness when the policy expires. Renewal to this policy would impossible and the individual would go without healthcare until the next open enrollment at the end of the year.
The overall effects of both policies issued by executive order could have far reaching effects to low income Americans. These insured Americans will receive increased premium heights and no help in paying out-of-pocket hospital bills. Congress will have to step in to make changes to the law before Open enrollment 2018 which starts on November 1st, 2017.
Insurance4Dallas, (I4D), helps insure all of Texas, Oklahoma, Arkansas, Arizona, Louisiana, New Mexico, Alabama, Virginia and Florida. Insurance4Dallas provides consumers with detailed information on health insurance with the ability to purchase health insurance online. Insurance4Dallas provides a full spectrum of health, dental, vision, life and ancillary insurance products, providing a diverse selection of price and benefit options complemented by personal customer service. Available via phone, email or fax, Insurance4Dallas answers consumer questions throughout the purchasing process and during the utilization of its health insurance policies.
Contact Info:
Name: Rick Thornton
Email: Send Email
Organization: Insurance4Dallas
Address: 4516 Lovers Lane Suite 317, Dallas , Texas 75225, United States
Phone: +1-972-219-6004
For more information, please visit http://insurance4dallas.com/dallas-health-insurance-brokers/
Source: PressCable
Release ID: 250603
More News
Dancing Salaryman Pokes Fun at Japan’s Buttoned-Down Culture
Toru Utsumi has won more than a million fans on TikTok and Instagram with short, fancy-free videos.
Japan’s ‘Dancing Salaryman’ Can’t Stop Grooving
Toru Utsumi, 60, works as a management consultant, but on his days off, he has become a global internet star — despite some local disapproval.
A Wayward Shark Becomes a Celebrity in South Korea
Stranded in a port waterway for weeks, the 10-foot fish has attracted more than a million spectators, while officials try to guide her back to open sea.
China’s proposed AI tech export bans may create short-term costs, long-term gains: analysts
China’s proposed export bans and controls of artificial intelligence technologies aim to tighten Beijing’s grip in the strategically vital sector, casting a cloud over the commercial prospects of domestic model developers in the global AI race, analysts say. The new measures come as concerns mount globally over the risks of advanced AI systems, following a string of recent cyberattacks, while also underscoring AI’s growing national security importance for both Beijing and Washington. Zhang Yi,...
Bangladesh tourist resort fire kills 10
At least 10 tourists have been killed in a fire at a seaside resort in the southeastern Bangladeshi district of Cox’s Bazar, the country’s largest travel destination, officials said on Saturday. Dolon Acharya, an officer at the Fire Service and Civil Defence department, said the fire broke out in the morning at Tuptup Resto and Resort at Patuartek beach. The flames gutted the entire facility. The scene is located more than 320km (199 miles) southeast of the capital Dhaka. Acharya said...
Reporter’s notebook: Kimi’s AI credit card turns spending into computing quotas – with limits
China’s artificial intelligence companies have spent years persuading consumers to pay for their technology. Now, Moonshot AI, the start-up behind Kimi, is taking a different approach: offering AI computing benefits through a credit card. The company has teamed up with the Agricultural Bank of China (ABC) and American Express for what it calls “the world’s first AI native credit card”. After getting one for myself, the experience offered an intriguing way to bring AI services into everyday...
Modi under pressure as India’s youth protests rise to highest level in a decade
Despite tens of thousands of security personnel deployed to stop them, youth protesters in India scaled barricades last week, chanted anti-government slogans and scuffled with police officers trying to drag them away. “Long live the revolution,” shouted one young man before police bundled him into a bus. Street protests in India this year are likely to be higher than at any time in the past decade, the independent Armed Conflict Location and Event Data Project has said, as dissent mounts...
Asean climate monitor issues highest alert level over toxic haze
Ongoing fires in Indonesia that have blanketed parts of Southeast Asia with toxic haze have triggered the highest-level alert by the regional bloc’s climate and fire monitor. “Activation of Alert Level 3 for the Southern Asean region,” the Singapore Asean Specialised Meteorological Centre (ASMC) said on its website, seen on Saturday. Based near Singapore’s Changi Airport, the ASMC uses a four-tiered alert level system, from zero to three, with the highest triggered if there is a “high risk of...
Asean’s Myanmar peace push needs Japan’s ‘silent diplomacy’
Japan has long established itself as a pioneer of mediation in Southeast Asia. In 1990, for example, its officials helped broker talks between Cambodia’s warring factions, supplementing international efforts to end conflict in the country. Now, Tokyo is seeking to upgrade its diplomatic toolkit. The Ministry of Foreign Affairs’ International Peace Mediation Unit was set up in March, followed by the launch of the Parliamentary Association for Peace Mediation in May. Around the same time, the...
Ex-Malaysian minister Nik Nazmi admits lapse in judgment after ‘khalwat’ arrest
Former Malaysian minister Nik Nazmi Nik Ahmad has confirmed that he was one of two individuals detained by the Selangor Islamic Religious Department (Jais) over an alleged khalwat case. Nik Nazmi, who helms Parti Bersama Malaysia, said he was at a residence in Petaling Jaya on Thursday with a woman after they decided to continue a discussion about a project there. “We had initially started the discussion with friends at a studio in Brickfields, Kuala Lumpur, before moving to Petaling Jaya to...
Shunned in the West, Ye hands Indonesia a rare mega-tour coup
Taylor Swift and Lady Gaga each chose Singapore as their only Southeast Asian stop on recent world tours. Fellow American singer Olivia Rodrigo played Thailand and the Philippines, but likewise skipped Indonesia. Next weekend, however, Jakarta is finally getting the big international headline act it has been craving – in the form of Ye. The controversial American rapper, formerly known as Kanye West, is set to play Indonesia’s capital next Saturday, marking the only Southeast Asian appearance on...
‘Thai people already poor’: developing nations protest IMF’s austerity call
Coconut farmer Sombat Chuekrod travelled more than 200km (120 miles) to join hundreds on the streets of Bangkok on Friday demanding that the International Monetary Fund (IMF) and World Bank change how they deal with the developing world. Finance ministers, central bank governors and other top policymakers gathered this week in the Thai capital for the IMF-World Bank Annual Meetings, as decision makers tackle an inflation crisis fuelled by the Iran war and other economic shocks. The message from...
YOUR NEWS, OUR NETWORK.
Do you have Great News you want to tell the world?
Be it updates about your business or your community, you can make sure that it’s heard by submitting your story to our network reaching hundreds of news sites across 6 verticals.