Surprise: New insurance fee in health overhaul law - Spokesman ...

December 10, 2012 in Nation/World

Ricardo Alonso-Zaldivar Associated Press

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WASHINGTON (AP) ? Your medical plan is facing an unexpected new fee. It?s to help cover people with pre-existing conditions under President Barack Obama?s health care?overhaul.

The $63-per-head fee ? buried in a recent regulation ?will hit health plans serving an estimated 190 million Americans, mostly workers and their families. It?s payable starting in?2014.

Employers are not happy. The cost of compliance works out to tens of millions of dollars for the largest companies, maybe a few hundred for small firms. Most of that will get passed on to?workers.

The Obama administration says the money will cushion health insurance companies from the hard-to-predict costs of covering uninsured people with pre-existing conditions, so society will benefit in the long?run.

The fee is temporary, raising $25 billion over three?years.

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Source: http://www.spokesman.com/stories/2012/dec/10/surprise-new-insurance-fee-in-health-overhaul-law/

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