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.
Copyright 2012Associated Press. All rights reserved.
Friday, August 22 2014 11:40 PM EDT2014-08-23 03:40:39 GMT
Officials with the Charleston Police Department say a 15-year-old is in custody after he got rid of a gun at the Altman Athletic Center at The Citadel during the Sertoma finale. Police say it all started when a citizen told them someone had a gun. More >
Officials with the Charleston Police Department say a 15-year-old is in custody after he got rid of a gun at the Altman Athletic Center at The Citadel during the Sertoma finale. Police say it all started when a citizen told them someone had a gun.
A fisherman off the coast of Bonita Springs, Florida thinks he has a pretty nice catch. As he reels in a four-foot shark, his catch is stolen by an even bigger fish. A massive grouper pulls the sharkMore >
A massive grouper steals a four-foot shark from a fisherman's line off the coast of Florida.More >
Saturday, August 23 2014 2:08 AM EDT2014-08-23 06:08:06 GMT
The Homeland Security Department is warning that more than 1,000 retailers could have a new malicious software program lurking in their cash registers that allows computer hackers to steal financial data about...More >
More than 1,000 U.S. retailers could be infected with malicious software lurking in their cash register computers, allowing hackers to steal customer financial data, the Homeland Security Department said Friday.More >
Saturday, August 23 2014 12:04 AM EDT2014-08-23 04:04:44 GMT
Police in Sumter County are looking for a man wanted in the assault of a woman while she slept.The Sumter County Sheriff's Office is looking for Lashonda Dennis, 35, of Rembert. In May, a woman told deputiesMore >
Police in Sumter County are looking for a man wanted in the assault of a woman while she slept.More >