8°c Partly cloudy
19°c Variable cloudiness
The Canadian Press - ONLINE EDITION
Insurers warn of sticker shock due to health care law's taxes, requirements as it expands
The health care overhaul starts expanding coverage to nearly 30 million uninsured people next year. The law also begins tacking on some expenses and coverage requirements to insurance policies.
Insurers say that will lead to higher premiums — or coverage costs — for a portion of the insured population. This includes some of the roughly 14 million people who buy their own coverage on the individual market rather than those who are covered under employer-sponsored plans.
Some of the law's changes that insurers say could contribute to cost hikes, depending on a person's current coverage:
— A requirement that insurers narrow the difference they charge in premiums based on age
— The elimination of premium differences based on gender
— A new premium tax
— Requirements that insurers provide certain benefits deemed essential, like pregnancy coverage
Some factors that overhaul proponents say could lessen the impact of price hikes or lower costs:
— Income-based tax credits
— Lower administrative costs and more competition thanks to new online exchanges or marketplaces where people can find coverage
— A requirement that insurers cover everyone who applies, which ensures coverage for people with poor health
More Business
- Back to Top
- Return to Business
More Business
(1 of 50 articles for this week)
Japan's top leaders defend 'Abenomics' economic strategies as roiled markets settle
12:38 AM 0TOKYO - Japan's top leaders are defending the economic strategies championed by Prime Minister Shinzo Abe, though the central bank ...
Poll
Most Popular Business
- New owner for lumber stores
- Skyline-altering project will happen: developer
- Ottawa threatens 'retaliatory measures' over new U.S. meat labelling regulations
- New downtown tower could be 42 storeys tall: developers
- She's got entrepreneurial spirit
- The Galapagos to be just a click away: Google photographs famous islands for Street View
- Hobby Lobby appeal tests limits of federal birth-control coverage mandate
- Wealth survey indicates average person has $6.6K
- Creative industries can fuel a city's economic engine
- Target exceeds sales goal at Canadian stores
- New owner for lumber stores
- Mounties say crooks passing fake polymer bank notes in British Columbia
- 2 men arrested in killing of Las Vegas teen who refused to give up his iPad
- New downtown tower could be 42 storeys tall: developers
- Creative industries can fuel a city's economic engine
- Microsoft reveals Xbox One as all-in-1 entertainment console, last of 3 major systems unveiled
- Skyline-altering project will happen: developer
- Housing slowdown to worsen, cost 150,000 jobs, says mortgage group
- Bridging the gap
- Ottawa threatens 'retaliatory measures' over new U.S. meat labelling regulations
- Target opens its first Manitoba stores Tuesday
- New structure to be king of downtown?
- Transcona transformation
- Target opens Manitoba stores
- New owner for lumber stores
- Mounties say crooks passing fake polymer bank notes in British Columbia
- City to get a touch of glass
- Canad Inns property has personal meaning for owner
- Holiday pump jump debated
- Local boy leads Great-West
- New owner for lumber stores
- Skyline-altering project will happen: developer
- She's got entrepreneurial spirit
- US new home sales rise 2.3 per cent in April while median home prices hit record high
- Bell invests in 'TV everywhere'
- Bridgwater site to resemble Osborne Village
- Transcona transformation
- PotashCorp cites confidence in cash flow, increases quarterly dividend 25%
- Bridging the gap
- Young entrepreneurs pitch ideas to investor Warren Buffett, win prizes for their businesses
- New owner for lumber stores
- Ex-'Pegger seeks to grow local businesses
- Bridging the gap
- Developers to unveil plans for bold downtown tower
- Skyline-altering project will happen: developer
- There are lots of I's in 'team'
- More than a new boss
- New downtown tower could be 42 storeys tall: developers
- Viterra plans $20 million capacity upgrade at four Saskatchewan grain terminals
- Creative industries can fuel a city's economic engine
- New owner for lumber stores
- Transcona transformation
- New structure to be king of downtown?
- CEO, execs terminated at TCIG
- Target opens its first Manitoba stores Tuesday
- Canad Inns property has personal meaning for owner
- Winnipeg's got the REIT stuff
- Older and jobless? Resource on hand
- Local boy leads Great-West
- Ex-'Pegger seeks to grow local businesses
Ads by Google
You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is register and/or login and you can join the conversation and give your feedback.
Have Your Say
New to commenting? Check out our Frequently Asked Questions.
The Winnipeg Free Press does not necessarily endorse any of the views posted. By submitting your comment, you agree to our Terms and Conditions. These terms were revised effective April 16, 2010.