The findings highlight the sticker shock in health care premiums that awaits the relatively young and healthy in both the small group and individual markets as the ACA is fully implemented. The survey finds cost of premiums for this group will increase by an average of 169 percent. Conversely, the survey found that the premiums of older and sicker individuals in these markets will be relatively subsidized by the ACA, with that group seeing an average decrease in premium costs of just under 25 percent.
| Summary Table: Average Premium Impacts for Individual and Small Group in 2014 | ||||||
| Younger and Healthier Individuals and Small Employers | ||||||
| Chicago, IL | Phoenix, AZ | Atlanta, GA | Austin, TX | Milwaukee, WI | All Cities Average | |
| AVG % Change | 173% | 157% | 164% | 162% | 190% | 169% |
| Older and Less Healthy Individuals and Small Employers | ||||||
| Chicago, IL | Phoenix, AZ | Atlanta, GA | Austin, TX | Milwaukee, WI | All Cities Average | |
| AVG % Change | -21% | -22% | -21% | -32% | -15% | -22% |
| Note: Changes due to insurance market reforms alone and do not include annual medical trend increases. It also does not include the fact that some individuals and small employers experiencing these changes will be eligible for taxpayer subsidies through insurance exchanges | ||||||
Writing in Medical Progress Today, Manhattan Institute fellow Yevgeniy Feyman observes that “while the sample may not be representative, and average premiums can be nudged one way or the other by high-or-low-utilization beneficiaries, uninsured 20-somethings have every reason to pay the $95 penalty and refuse health insurance come 2014.
“But is there a fix” Feyman asks?
“One idea would be to allow the “community rating” (the provision that requires insurers to charge no more than three times more for an older person than a younger person – this drives a significant portion of the premium increases) provision of the health law to take effect gradually, over several years. This would achieve the goal of lowering healthcare costs through risk pool expansion, guaranteeing that younger people could still get preferential rates on health insurance. While initially there would be no statutory protection for premiums for the older population, by having a broader risk pool from the start, it would slow premium growth.
Others (including insurance companies) have called for a higher penalty to ensure that people don’t skip out on insurance. This may resound with those on the left, but this would leave AAF’s results unchanged.
Proponents of the ACA will, of course, argue that these aren’t the actual costs people will be paying – and they would be correct. Much of the cost, especially for 20-somethings just starting out their careers, will be offset by premium subsidies. But the point is that these costs will still be paid by someone – there’s no free lunch. Effectively, money will flow from non-health related industries into the healthcare sector – when people are forced to pay more money for insurance that leaves them with less money to spend on other goods and services.”
Read: https://americanactionforum.org/topic/premiums-and-aca-survey
Read: https://www.medicalprogresstoday.com/2013/02/update-obamacare-sticker-shock-20.php
Chief Executive Group exists to improve the performance of U.S. CEOs, senior executives and public-company directors, helping you grow your companies, build your communities and strengthen society. Learn more at chiefexecutivegroup.com.
0
1:00 - 5:00 pm
Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process
Executives expressed frustration with their current strategic planning process. Issues include:
Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns. They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning. Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process. This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented. If you are ready for a Strategic Planning tune-up, select this workshop in your registration form. The additional fee of $695 will be added to your total.
2:00 - 5:00 pm
Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations.
Limited space available.
10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS
General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.
The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.
