Princess Health and Health-insurance stocks fall in reaction to federal judge striking down one Obamacare subsidy; ruling is stayed pending appeal. Princessiccia

Princess Health and Health-insurance stocks fall in reaction to federal judge striking down one Obamacare subsidy; ruling is stayed pending appeal. Princessiccia

health insurance health reform insurance deductibles insurance exchange obamacare

Gusty 18:34 Add Comment

"Shares of Humana, Aetna and other health insurance companies tumbled on Thursday, as a federal judge ruled that Affordable Care Act subsidies could not be dispensed without congressional approval," Boris Ladwig reports for Insider Louisville. "Humana�s shares slid 2.5 percent, and Aetna�s dropped 3.26 percent. Insurers Anthem and UnitedHealth Group also booked declines."

District Judge Rosemary Collyer of the District of Columbia ruled that Congress had never provided money for the subsidies to people who buy health insurance through Kynect and other exchanges. "Without subsidies, fewer people would be able to afford to purchase health insurance, which means insurance companies would lose customers," Ladwig explains.

Collyer, an appointee of George W. Bush, allowed the program to continue while the Obama administration appeals her ruling to the D.C. Circuit Court of Appeals. The Supreme Court appears likely to decide the issue.

The suit by House Republicans involved only cost-sharing subsidies, not the income-tax credits that apply to monthly premium payments. The Obama administration funded the cost-sharing with money from the tax-credit account.

The cost-sharing subsidies are available to people with incomes between 100 and 250 percent of the federal poverty level � between $24,300 and $60,750 for a family of four. "Several million Obamacare customers receive cost-sharing subsidies, but the exact figure is unknown," Jennifer Haberkorn reports for Politico. "As of the middle of the last Obamacare enrollment period, 57 percent of people who signed up for coverage through the federal exchange on HealthCare.gov receive them. . . . If the subsidies are ultimately struck, it would reinforce claims from opponents of the health law that the Obamacare insurance plans are not actually affordable."

Princess Health and Beshear announces launch of Kynect, the state's new online shop for health insurance; open enrollment starts Oct. 1.Princessiccia

Princess Health and Beshear announces launch of Kynect, the state's new online shop for health insurance; open enrollment starts Oct. 1.Princessiccia

Affordable Care Act health insurance health reform insurance insurance deductibles insurance exchange Patient Protection and Affordable Care Act state government

Gusty 20:34 Add Comment

Gov. Steve Beshear has announced the launch of Kentucky�s Healthcare Connection, which is referred to as Kynect and is Kentucky's one-stop onlineshop for the state's new health insurance exchange.

Beginning next year, most Americans will be required to have health insurance, and Kynect is designed to help an estimated 640,000 uninsured Kentuckians get coverage through private insurance plans, Medicaid or the Kentucky Children�s Health Insurance Program. The online service is also aimed to promote public education and awareness about the health benefit exchange, says a recent press release.

�When I issued an executive order last year creating a state-based health benefit exchange, I did so to ensure that our health benefit exchange would be designed to best meet the unique needs of Kentuckians,� Beshear said. �Individuals, families and small businesses will be able to use kynect for one-stop shopping to find health coverage and determine if they are eligible for payment assistance or tax credits to help cover costs.�

During open enrollment, which begins Oct. 1, Kentuckians and small businesses can compare and select health insurance plans using the Kynect website, a toll-free contact center, a mail-in application or in person, says the release. People can also use the website to find out if they qualify for payment assistance and special discounts on deductibles, co-pays and co-insurance.

For example, the website indicates that a family of four making $48,000 will receive a tax credit that can be used to pay insurance premiums, which is estimated to be $252 per month, in addition to government subsidies for medical care. A family of four making $80,000 will a receive tax credit too, and insurance premiums are estimated to be $634 per month. Small businesses can also use the website to see if they qualify for specific tax credits (Click here for a PDF fact sheet about payment assistance)

�Starting today, we are undertaking a major education and awareness campaign to ensure that all uninsured Kentuckians understand how Kynect can help them and their families find affordable health coverage,� said Audrey Haynes, secretary for the Cabinet for Health and Family Services, which will oversee Kynect along with the Kentucky Office of the Health Benefit Exchange.

Beshear created the health exchange by an executive order in July 2012. A recent lawsuit alleges this action was not authorized and should first be approved by the General Assembly. To date, Kentucky has received about $250 million in federal grants to cover the initial costs of exchange, but the state will be responsible for all funding for the exchange beginning in 2015. Kentuckians can visit the service's website or watch the video below to learn more about the program. 

Princess Health and Poll shows health care costs are a burden for many Kentuckians.Princessiccia

Princess Health and Poll shows health care costs are a burden for many Kentuckians.Princessiccia

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Gusty 11:14 Add Comment

A recent statewide survey shows health-care costs are a burden for many Kentuckians, especially for those who are poor and don't have insurance and put off getting care they need because they can't afford it.

More than 60 percent of Kentucky adults in the poll said high costs forced them or a family member living in their home to delay getting care in the past year. Not surprisingly, almost 90 percent of uninsured respondents reported going completely without care in the past year.

The Kentucky Health Issues Poll also showed that 48 percent have relied on home remedies when they are sick instead of going to a doctor, 43 percent have postponed care they needed, 37 percent have not filled a prescription or skipped a dental visit or checkup, 36 percent skipped a recommended medical test or treatment, and 16 percent have cut pills in half or skipped doses of medicine for financial reasons. Overall, 64 percent answered "yes" to at least one of those questions.

�Although our economy is improving, many Kentucky families are still struggling financially. Our research shows healthcare costs have a significant impact on Kentuckians� actions,� said Dr. Susan Zepeda, president and CEO of the Foundation for a Healthy Kentucky, which co-sponsored the poll. �Timely access to quality, affordable healthcare is important to restore and maintain Kentuckians� health and productivity. When we delay or go without care, illness severity and costs can escalate. Based on the KHIP results, many Kentuckians are taking risks with their overall health because of the expense.�

Rising costs of health care do not affect all Kentuckians in the same way; almost 40 percent of Kentucky adults reported that paying for health care and health insurance is not a financial burden. Those who did say costs were a burden said they were burdened equally by the costs of doctor visits, prescription drugs and insurance premiums or deductibles.

The poll was funded by the foundation and the Health Foundation of Greater Cincinnati. The poll was conducted Sept. 20 and Oct. 14 of last year by the Institute for Policy Research at the University of Cincinnati. A random sample of 1,680 adults from throughout Kentucky was interviewed by telephone, including landlines and cell phones, and the poll has a margin of error of plus or 2.5 points.