Tuesday, February 19, 2013

Not as smart as I thought I was

My plans for an early retirement seem to have hit a road bump. I have been discussing with a select few brokers methods we came up with to avoid paying any penalties and offer coverage possibly cheaper then $2,000.

Today one of them sent me a link with the basic concept outlined for all to see in LifeHealthPro.

It is possible my phone was tapped, or one of the brokers got loose lips; more likely the flaws in PPACA are just that glaringly obvious:

"PPACA will require self-insured plans to cover a package of basic preventive services without imposing deductibles, co-payments or other out-of-pocket "cost-sharing" requirements on the plan enrollees. But PPACA exempts self-insured plans from most other new coverage requirements."

"But, to avoid paying the new PPACA uninsured penalty tax, an individual worker simply needs some kind of minimum essential coverage from the employer, not necessarily coverage through the plan that meets the PPACA minimum actuarial value standards ...An employer could offer one plan that would meet the PPACA minimum actuarial value requirements for one rate, and then offer a skinny, possibly cheaper minimum essential coverage plan alongside the minimum actuarial value plan"

There really is no excuse for any employers to get stuck paying penalties, because there are numerous solutions to avoid or greatly minimize them. 
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