The “ACT” Behind Obamacare

You have probably heard of the PPACA (Patient Protection and Affordable Care Act) by now.  BUT, what you’ve already started to experience, while perhaps not identifying with the acronym, is the Accessible Care Tax (ACT).  President Obama’s attempt to socialize the health care system with snappy examples of how everyone will have access to health care is doing its best to avoid emphasis on the accessible care tax.  After all, it’s been clearly decided by the US Supreme Court that the PPACA is only constitutional as a tax (even though the current administration has rejected that opinion on many occasions).  Following is just a summary of some of what’s already here and what’s coming from your local health care enforcer at the IRS:

·         A 2.3% excise tax on the first sale for use of a durable medical device.

·         10% Tax on amounts paid for indoor sun tanning services.

·         Increase on the tax on early withdrawals from HSAs (10% to 20%) & Archer MSAs (15% to 20%).

·         A Comparative Effectiveness Research (CER) Fee of $1 per covered life for self- insured plans for plan years ending on or after 10/1/2012.  This fee will increase to $2 per covered life for plan years ending on or after 10/1/2013 and 10/1/2014 and then is indexed through 2019.

·         Increased income threshold for claiming the itemized medical expense deduction from 7.5% of income to 10%.  (If you are 65, you may claim the deduction based on the 7.5% rule through 2016)

·         Increase in the hospital insurance tax rate by 0.9% on wages over $200,000 (Individual) and $250,000 (Married filing jointly).

·         3.8% tax on net investment income for incomes over $200,000 (Individual) and $250,000 (Married filing jointly).

·          Elimination of the Medicare Part D Subsidy for employers.

·         Health Insurance Provider Fee.  An annual, non-deductible fee on the health insurance sector.  The fee will be allocated across the health insurance companies whose net premiums exceed $25 million.

·         Effective in 2014 through 2016, a reinsurance fee levied against health insurance issuers and third Party administrators (TPA’s) will be required by the Dept. of Health and Human Services (HHS).  This was established to mitigate risk selection and market uncertainty as the insurance exchanges are established.  The contribution will be based on a rate determined by HHS.  States may be able to collect additional contributions in excess of the federal levy.

·         Health Flexible Spending Accounts (FSAs) are limited to $2,500 in pre-tax annual contributions.  You also lose any monies not spent after the appropriate grace period for each year (“Use it or Lose it”). 

While that list is enough to swallow in more than one bite, it does not include all taxes, fees and requirements that will certainly drive up the cost of health care. The requirements alone (A whole topic in and of itself) will have a significant inflationary effect on the cost of care.  Do you think congress and the President have to comply with as many requirements and taxes under their health care plan?

Health & Wellness Tips: Cold or Flu?

Though the common cold and seasonal influenza share several symptoms, there are points of differentiation that will help you identify which you may have and seek proper treatment. It is important to tell the difference, as the flu can result in more serious health complications, while the cold likely will not.

Common Cold

Typically, symptoms of the common cold come on gradually, and may start with a sore throat or irritated sinuses. The most common symptoms of a cold are nasal congestion, sneezing and runny nose. Symptoms can also include a cough, mild headache and minor body aches. Young children may get a low-grade fever as well, but a fever in older children or adults typically indicates the flu.

People are generally contagious during the first three days they have a cold. Symptoms tend to go away within a week.

Seasonal Flu

Unlike the common cold, flu symptoms usually come on suddenly and vigorously, often starting with a high-grade fever, headache, body aches and fatigue. In addition, flu symptoms can include a dry cough, sore throat, and sometimes a runny or stuffy nose.

Symptoms are generally more severe than with a cold. Flu symptoms tend to gradually improve after two to five days, but can last for a week or more. You should stay home for at least 24 after your fever is gone to avoid passing your illness to others.

Prevention

There are strategies that can help you avoid getting sick from either of these conditions. These include frequent hand washing, sanitizing commonly touched surfaces, and avoiding touching your eyes, nose and mouth. If you are sick, cough and sneeze into your elbow to prevent spreading germs to others.

Also consider getting a seasonal flu vaccine each year, which is now recommended by the Centers for Disease Control and Prevention for all people over 6 months of age. 

Treatment

For the common cold, a doctor visit is usually unnecessary.  Over-the-counter medications can be effective in treating symptoms. For the flu, a doctor may prescribe anti-viral drugs that will help decrease the severity and length of symptoms.

Potentially serious health complications can occur in people suffering from the flu. Call your doctor if you think your symptoms are worsening or if you have a condition such as asthma, diabetes or are pregnant.

Did You Know...?

Whether you have a cold or the flu, there are home remedies that can help you recover sooner. Drinking warm liquids or taking steamy showers can help soothe a sore throat and ease nasal congestion. And make sure to get plenty of rest so your body can focus its energy on fighting off the illness.

This brochure is for informational purposes only and is not intended as medical advice. For further information, please consult a medical professional.

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