ACA subsidies, Cadillac tax, fiduciary hearings spark plenty of discussion
August 14, 2015 10:57 AM
Overview
From wrongly issued subsidies to the Cadillac tax to the DOL fiduciary hearings, its been a busy week for the insurance industry. Heres what EBA readers had to say about these topics.
Unfair practice
I was given subsidies that paid for my wife's coverage 100% based on my income which was well above the poverty line and now I have to pay the subsidies back in the form of tax additions, not fair at all.
Posted by Michael D
Posted by Michael D
Largest joke of insurance in your entire existence
Try to enroll in Indiana. You will see the largest joke of insurance in your entire existence, with no care allowed out of the state, even though you live 10 minutes away, they rather you drive 2 hours for care that you cannot receive for 4 months, even though you may lose legs or die due to your condition.
Posted by James B
Posted by James B
Better communication needed
Better communication to subsidy recipients is needed to make sure the exchange is notified of all income changes (addition or reduction) so the subsidy can stay accurate.
Posted by William S
Posted by William S
More regulation = more complication
More regulation will only cause complication to folks who have difficulty making basic decisions. Hopefully, our PAC's will be able to articulate the need for simplicity and potentially cleaning out the regulation closet before stacking new, problematic ones to the inexhaustible pile we have now.
Posted by Tammy B
Posted by Tammy B
Do the rules apply to our politicians?
So do any of these fiduciary rules apply to the clowns in Washington who are in charge of the funds in the Social Security trust fund?
Posted by Bill H
Posted by Bill H
More regulation isnt the answer
After 45 years of practice, I have not seen the increased regulations improve anything for the client. We certainly are not accomplishing anything with the automated webinars about AML and the other exercises. The professional designations have become meaningless. The disguising of fees and charges has increased and the paperwork has become ridiculous. More regulations and more lawyers has not added one cent to any clients retirement.
Posted by Donald H
Posted by Donald H
I will change my practice
Of course the Industry isn't going to run away from a multi-trillion dollar business, but that doesn't mean that the people operating in it are going to keep serving the same clientele in the same way, if they are going to push this through. I've been making plans for several months on how I will change my practice, and it doesn't involve increasing the time I spend with the lower-end middle class people in my community, helping them to address their retirement concerns.
The people in our industry that are close to retirement will either most likely retire or eliminate this piece from their business model. Those like me that intend to work another 20 years will make the necessary changes, so they can continue to generate the same annual revenue, with the least amount of hassle.
Posted by Brian F
The people in our industry that are close to retirement will either most likely retire or eliminate this piece from their business model. Those like me that intend to work another 20 years will make the necessary changes, so they can continue to generate the same annual revenue, with the least amount of hassle.
Posted by Brian F
Poor planning
The Cadillac tax seems like one of the least well thought out parts of the PPACA along with the EEOC's total lack of consistent integration of the PPACA with ADA, GINA, HIPAA, etc.
Posted by Edward F
Posted by Edward F
Read this weeks news
Read our full coverage of the DOL fiduciary hearings
Federal marketplaces may have wrongly issued subsidies
Hope of congressional intervention shifts Cadillac tax to neurtral
Federal marketplaces may have wrongly issued subsidies
Hope of congressional intervention shifts Cadillac tax to neurtral
