It’s the list you’ve always needed.
- Item 1 explains the $8 billion in new taxes that insurers must pay the federal government in 2014, an amount that increases through 2018 and then applies in all of the years to come. The tax is not deductible. With corporate taxes, this means that a company must collect $1.35 to cover an additional $1.00 in ObamaCare taxes. As part of the war on private enterprise, nonprofit insurers pay less. Companies that play ball with the government, by getting at least 80 percent of their revenues from government programs, pay nothing at all.
- Item 10 explains that patients will pay an estimated $2.3 billion more for prescription drugs. This is the result of a new tax on innovator drug companies. It taxes success because companies that innovate more pay more.
- Item 17 is the $25 million in transitional reinsurance program fees. One estimate puts their cost at $63 per covered life per year. The money will be taken from insurers and self-funded plans and transferred to state nonprofit entities and the Treasury. It is supposed to be used to “stabilize” the individual market, a market that was stable before ObamaCare passed.
- Item 19 covers the limit on the waiting period for enrollment into employer plans. Companies in construction and transportation, industries with high turnover, typically required waiting periods of 6 to 12 months before employees could join employer plans. ObamaCare puts a 90 day limit on waiting periods. Now that an employee can work 3 months, then have a medical procedure and quit, employer costs are expected to increase by 4 percent in industries with 6 month waiting periods and by 25 percent in those with 12 month waiting periods.
- Item 22 is the slacker mandate, the requirement that “children” up to age 26 must be covered by family policies. The estimated additional premium cost for this was 1 percent in states that did not already have the mandate.