Posts Tagged ‘obamacare’
Obamacare: Sh*t Hits Fan
Posted on: November 13, 2013
Today I sat down with a bunch of professionals for our quarterly wealth management meeting. As the talks turned toward the implementation of the Affordable Care Act, I realized the mal-functioning website is the least of its problems.
In our group there is a professional, Andrea, who specializes in helping small to mid-sized businesses procure group health insurance. Andrea said insurance companies are cancelling old plans and giving their customers “upgraded” plans that cost more and provide less benefits.
This hasn’t just been happening in isolated cases, but is rather wide-spread. Why? For one, the ACA has many mandates, such as covering reproductive health. So if a man’s insurance plan does not cover a pap smear, he just lost his plan! OK, I made this up for comedy, but Andrea did mention a 55 year old woman losing her plan because it did not have maternity benefits.
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Fiscal Cliff Deal: What does it mean for high income/high net-worth families?
Posted on: January 2, 2013
Approaching the fiscal cliff
The cliff deal struck between Vice President Joe Biden and Senate Minority Leader Mitch McConnell is a good deal overall for high income folks.
Make no mistake, some of them will have to pay more in taxes, but the amount is far less than if there is no deal and all is set back to the Clinton tax regime.
The Investment Scientist 