Color of Money Question of the Week
Even if the federal shutdown is avoided, how do you feel about the use of this strategy to protest the Affordable Care Act? Send your response to firstname.lastname@example.org, and include your full name, city and state. Put “The looming government shutdown” in the subject line.
Live Chat on Friday
Join me on Friday at 11 a.m. Eastern (a day later and an hour earlier then usual) to talk about the Affordable Care Act, aka Obamacare. I’ll be available to answer your personal finance questions, but the focus of the chat will be health care reform. Joining me as my guest will be Don Silver, author of “The Best Guide ObamaCare Guide: For You, Your Family and Your Business.” The book was the Color of Money Book Club pick for September.
Here’s a review of Silver’s book, which is only available electronically.
If you can’t join me live for the text chat, send in questions early.
Obamacare staying on track
Even with the possible closing of the federal government, millions of uninsured Americans will still be able to enroll for health insurance starting Oct.1, reports Heidi Przybyla and Alex Wayne of Bloomberg.
Obamacare is a budgetary category, which is considered mandatory spending, the same as it is for the budget category for Medicare and Social Security. So, congressional inaction can’t stop it, write Przybyla and Wayne.
“If some Republicans succeed in shutting down the government, opponents of the health-care law can’t rely on a closure to impede the ability of new insurance exchanges to link with other agencies,” they report. “The exchanges must connect to computers at other federal agencies, including the Internal Revenue Service and the Homeland Security Department, in order to determine whether potential customers are eligible for coverage and for subsidies to help pay their premiums. Those connections probably wouldn’t be jeopardized by a shutdown.”
Showdown to Shutdown Obamacare
For last week’s Color of Money Question, I asked: “What are your thoughts on the Affordable Care Act?”
“Obamacare isn’t perfect,” wrote Kerry Kleiber of West Lafayette, Ind. “However, it is a step. If the Republicans would simply try to find ways to improve it, rather than ‘defund’ it, they and the rest of the nation would be better off.”
Christie Newman posted on Facebook: “I’ve attended informational meetings and listened to NPR programs where the FACTS are given, and anybody with half a brain should be supporting Obama Care with vigor! The only people in Congress who are against it are those who are working for the insurance companies.”
Donna R. Jefferson, a small-business owner in Annapolis, wrote on Facebook that insurers must be worried about competition from the new exchanges. Shewrote: “Our current insurer sent us the new rates for our next renewal, which is 6 months from now, and the new rates went up only minimally as opposed to the 20-25% that usually occurs. So the competition among providers and the state exchanges created due to the Affordable Care Act has been effective at keeping price increases in check. Not to mention the elimination of pre-existing conditions as a reason to deny coverage.”
On Facebook, Amber Dru of Xenia, Ohio, wrote: “I don’t see young people buying health insurance even with the threat of fines. . . When they realize what the government thinks they should be able to pay it’s going to get ugly.”
Tia Lewis contributed to this report.
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