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Mixed Reviews for the Health Insurance Exchanges

Mixed Reviews for the Health Insurance Exchanges

The Exchanges Surprise Some and Anger Others

As per the Patient Protection and Affordable Care Act, the insurance market exchanges were officially launched on October 1, 2013. The reviews continue to trickle in from small business owners on the exchanges. The feedback is mixed at best. Designed to offer low-cost insurance for individuals and small businesses, some owners are reporting that the rates and coverage are surprisingly affordable, but many aren’t as happy.

As with any major change, people adapt at different rates so it’s a reasonable assumption that it will take more time to get a clear picture of the total overall success of the health insurance exchanges.  But many are still determined to assess the success and/or damage in some states.

Sebelius: ‘No One Could be More Frustrated Than I Am’

Notably, enrollment has been slowed in the states that elected to have the federal government run the exchanges. The federal web site isn’t functioning optimally. United States Secretary of Health and Human Services, Kathleen Sebelius says this issue is being addressed although many are angrily calling for her resignation. When addressing the issue on an interview with CNN, she said that President Obama only just learned of the glitches—this, by the way, doesn’t do much to bolster her fan base—and she elaborated:

No one could be more frustrated than I am and the President…We’re not at all satisfied with the workings of the website. We want it to be smooth and easy and let consumers compare plans.

The federal government has, for obvious reasons, held off on releasing enrollment numbers in the states affected by the glitch. Says the Associated Press as reported by the San Jose Mercury News in their article: Small businesses give health insurance exchanges mixed reviews, the feedback at this point, while informative, is indicative of nothing—not a slam dunk for proponents of the ACA or for its vitriolic opponents—just mixed data at the moment.

… the Obama administration projected that nearly half a million people would sign up for insurance through the markets in the first month. That forecast preceded rampant computer glitches … Officials at state-run exchanges in New York, Minnesota and Vermont say small business enrollments have surpassed expectations.

No Mixed Data Here—Only Solid Facts and Figures…

If you, like most individuals and business owners, are confused by the inconsistent data, various ACA deadlines and federal web site glitches, let a tax professional take the reins. We are prepared to monitor changes, follow the tax deadlines, and most importantly give you professional guidance on the best options for your business and/or individual needs.

Contact Joel Lewinson today for a consultation and more information on the health insurance exchanges.

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