Affordable Care Act Not So Fast

Affordable Care Act Not So Fast

According to a recent FoxNews article, the Affordable Care Act may mean affordable in name only. Many are finding loopholes and pitfalls within the current legislation. A recent FoxNews article provides the following example as a potential pitfall.

“The law is complicated, but essentially companies with 50 or more full-time workers are required to offer coverage that meets certain basic standards and costs no more than 9.5 percent of an employee’s income. Failure to do so means fines for the employer. (Full-time work is defined as 30 or more hours a week, on average.)

But do the math from the worker’s side: For an employee making $21,000 a year, 9.5 percent of their income could mean premiums as high as $1,995 and the insurance would still be considered affordable.

Even a premium of $1,000 — close to the current average for employee-only coverage — could be unaffordable for someone stretching earnings in the low $20,000’s.”

Many would like a solution to the climbing Healthcare costs; however, many are also asking at what cost.

 

Click to read the full Foxnews article

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