Obamacare Individual Mandate Delayed ?

 

Obamacare Individual Mandate Delayed

Obamacare Individual Mandate Delayed ?

The department of Health and Human services, the government department responsible for the rollout of the Health Insurance Exchange also known as the Health Insurance Marketplaces stated Wednesday night it will provide a small delay to the individual mandate. The administration said it will provide individuals who purchase Health Insurance through the online marketplaces on Healthcare.gov an extra six weeks to obtain their health coverage before the individual shared responsibility fee is levied.

This essentially means the drop dead date to purchase insurance through the healthcare market place will be March 31. This information was provided through a representative from the department of Health and Human Services led by HHS Sec. Sebelius

The Individual Mandate required most Americans to purchase a qualifying health plan if they are not currently on employer based health plan, Medicare, Medicaid, government health program beginning January 1 2014. After three months of failing to have a suitable health plan an Individual Shared Responsibility mandate will begin to incur.

The individual Shared Responsibility fine is necessary to make sure individuals purchase plans or pay a fine, the majority of premium rates created and established by the insurance providers factored the requirement to purchase health plans in their costs. If the Individual Mandate is totally eliminated the cost and premiums currently distributed by Health Providers will be much higher, with this in mind.

Various Health insurance companies are combining their efforts with federal government and contractors being hired in drove to resolve the technical problems. Yesterday as much as a dozen executives from various Health Insurance Companies met with White House Chief of Staff Denis McDonough, HHS Sec. Sebelius to discuss the ongoing problems with HealthCare.gov,

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