Today we had Kristin Kahle in the studio, the only person I’ve ever met who has actually read the entire bill – The Affordable Care Act. She is a Certified Healthcare Reform Specialist and is currently working on her PhD in Healthcare Reform. For many people, Obama Care is out of sight and out of mind as a result. However, Jan 1st 2014 isn’t so far away any more and the implementation of this law is going to effect everyone very soon. Here are the Top 5 things she gave us today:
1. The Law is still a work in progress. Not all of the parameters are set yet and there are still many things unknown about the implementation. I don’t know about you, but when I hear a bill has been passed into Law, I’m just assuming they have already worked out the details!!!
2. There are 41 different taxes within the Legislation. However, there is no clear direction as to where the money will go and what it will specifically be used for… Kristin’s favorite tax is the “Tanning Tax”. You will have to pay an extra 10% every time you Tan. Interesting.
3. The “exchange”, or the new place you will need to go to get your insurance . As of right now, if you are not covered by your employer and you don’t have health insurance on your own, you can apply for Government assistance through the exchange, but there are no parameters set as to who will qualify and how much assistance is going to be given. Isn’t this why they created the law in the first place? So people could get covered if they can’t afford it!? How could this not be worked out already?
4. At the moment, a clear definition for an “employee” does not exist! They have different classifications in place, but for some employers like staffing agencies and companies that use contractors, there are still a lot of gray areas to sort out. Good luck to us all!
5. The individual mandate will take effect in 2014 and it is enforced by the IRS. So, if you can’t provide proof of coverage, you will be forced to pay a tax. Many people understand that. But what’s interesting is, if you fall into that category, you are essentially in the same place all the people were before Obama Care who couldn’t afford insurance except now, you have to pay a tax to boot!!!
Other topics discussed on today’s show:
– The Life Plan, Step 3 – Put it in writing. How developing the proper Estate Plan will give your family exactly what they need.
– The Boston Marathon Bomber is negotiating to avoid the Death Penalty? Are you kidding me? Am I the only idiot who just assumed you get executed for something like that?
– What is your #1 priority?
– How much money are people stealing from tax payers by claiming unemployment when they are still working? Get your barf-bag ready…
Today’s On-Air Expert:
Kristin Kahle, MBA & Certified Healthcare Reform Specialist with the Benefits Exchange Alliance. She is our Obama Care Expert
Listen to today’s show here: