Public grows skeptical about cost of ‘Affordable Care’

Nobody likes the unknown, so it’s easy to understand why Americans are growing increasingly wary as the implementation of ObamaCare or, as it is formally known, the Patient Protection and Affordable Care Act, draws near.

Although the law passed in 2010, many of the key components take affect within the next 15 months:

• Health insurance exchanges open on Oct. 1 and are supposed to help people compare competing plans and discover whether they qualify for a taxpayer-funded subsidy.

• Beginning in 2014, all Americans are required to be covered by health insurance which is approved by the federal government. (Many popular high deductible plans, which are less expensive, are not government-approved.)  Those who choose not to be covered will be required to pay a tax penalty to the IRS.  That penalty begins at $95 but grows to $695 or 2.5% of your income by 2016.

• Businesses with more than 50 fulltime employees are mandated to provide health insurance coverage to all employees who work 30 hours a week or more.  The law says that mandate begins in 2014, but President Obama issued an executive order stating that his administration would not enforce that provision until 2015.

Still, the public grows skeptical.  A USA Today/Gallup poll found that Americans disapprove of the health care law 53%-42%, with 41% describing themselves as “strongly opposed.”  Another poll found that 77% want the individual mandate delayed or repealed, including 49% who want the mandate killed outright. (more…)