.

How Will Obamacare Affect You? Find Out Tonight at Elmhurst College

Insurance expert will discuss federal health care law Wednesday at Elmhurst College

The Patient Protection and Affordable Care Act, also known as Obamacare, has a lot of people scratching their heads, wondering how it is going to affect their bottom line.

How does the law affect you? Find out at 7 p.m. Wednesday, Jan. 16, when insurance expert E. Byron Spencer will present New Healthcare Law Basics, at the Mill Theatre, 253 Walter St., on the Elmhurst College campus. The event is free and open to the public.

In this overview of the Patient Protection and Affordable Care Act, Spencer will discuss what parts of the health care law already have been implemented, their impact so far, and what experts are predicting as the law is fully implemented.  

Spencer has more than 35 years of experience in business and personal insurance, including 10 years managing a large commercial carrier's association division with $650 million in premiums. In 1988, along with Paul Norman, he purchased the Hiatt Agency and formed Norman-Spencer, Inc. Spencer remains NSI's president and also serves as CEO of Norman-Spencer International, a commercial property and casualty insurance services firm based in Lombard.

Source: Elmhurst College

Jim R January 16, 2013 at 04:07 PM
It is already hitting us with more taxes and stealing from Medicare. If Medicare which has financial backing how can the bureacracy of Obamacare be afforded. It is already stepping on first ammendment rights. The congress should cut any funding to Obamacare it can to move us toward a balanced budget, not cut medicare or social security.
Shep February 04, 2013 at 05:20 PM
Actually, Jim - the health care law includes benefits to make Medicare prescription drug coverage more affordable. In 2010, 152,414 people with Medicare in Illinois who hit the prescription drug donut hole received a $250 rebate. In 2011, people with Medicare who hit the donut hole began receiving a 50 percent discount on covered brand-name drugs and a discount on generic drugs. Since the law was enacted, Illinois residents with Medicare have saved a total of $196,379,473 on their prescription drugs. In the first nine months of 2012, 86,527 people with Medicare received a 50 percent discount on their covered brand-name prescription drugs when they hit the donut hole. This discount has resulted in an average savings of $657 per person, and a total savings of $56,838,099 in Illinois in 2012. And by 2020, the law will close the donut hole. Not sure how you're "being hit with more taxes"; and/or how the law is "stealing from Medicaid - you need to be a bit more specific when throwing around (bogus) claims like that. And your comment: "if Medicare which has financial backing how can the bureacracy of Obamacare be afforded," just makes no sense at all.
Jim R February 04, 2013 at 06:03 PM
Shep-"if Medicare which has financial backing how can the bureacracy of Obamacare be afforded," just makes no sense at all."-Shep That comment is very easy, maybe difficult for anyone stupid enough to vote for Obama though. We have paid into Medicare while we are working through our payroll which is a source of funds for Medicae. Where is the source of funds for Obamacare other then some claims for saving future funds in Medicare by decreasing waste? If money is saved there it is Medicare money not Obamacare money. Let me provide you with another analysis: "Surprise! IRS Calculates Cheapest ‘Obamacare’ Plan Will Average $20,000 Per Family" http://www.theblaze.com/stories/2013/02/01/surprise-irs-calculates-cheapest-obamacare-plan-will-average-20000-per-family/ Going beyond that problem let us consider some of the hidden taxes coming down the line. http://moneymorning.com/2012/08/05/warning-hidden-obamacare-taxes-will-cost-you-more-than-you-think/ The people were sold a bill of goods for their votes just as he gave away residencies for votes. There is not a free lunch as someone has to pay for it. Items were already withdrawn last year that could be included on FSA claims. This year you are limited to $2500 for HSA and this year a 10% of income has to be spent on healthcare instead of the previous 7.5%. Much more is itemized in the link above.
Shep February 04, 2013 at 08:43 PM
If I'm the "stupid" one, what does that make one who cannot construct a sentence in proper English? Whatever way you cut it, "If Medicare which has financial backing how can the bureacracy of Obamacare be afforded," just doesn't make sense. Sorry, Jim. Look, I'm not trying to get in a school yard fight with you, Boss - just saying...glass houses and all. "Where is the source of funds for Obamacare other then some claims for saving future funds in Medicare by decreasing waste?" You've answered your own question - funds for saving Medicare (just one reform of the many included in Obamacares), are in the savings from decreasing waste as well as efforts to provide increased preventive care for beneficiaries....(continued below)
Shep February 04, 2013 at 08:51 PM
In fact, in 2011, 1,267,320 people with Medicare JUST in Illinois received free preventive services – such as mammograms and colonoscopies – or a free annual wellness visit with their doctor. And in the first nine months of 2012, 996,807 people with Medicare received free preventive services. You see, if we can treat folks before they're ill we'll bring down costs AND save lives. And efforts to decrease waste are also working as illustrated by the Health Care Fraud and Abuse Control Program's report released last Feb. which showed that in 2011, the government’s health care fraud prevention and enforcement efforts recovered nearly $4.1 BILLION in taxpayer dollars in Fiscal Year 2011. This is the highest annual amount ever recovered from individuals and companies who attempted to defraud seniors and taxpayers or who sought payments to which they were not entitled. To be clear, this also means that approximately $4.1 billion was recovered and returned to the Medicare Trust Funds, the Treasury and others in FY 2011. This is an unprecedented achievement. As to your "hidden tax" argument: we're already paying "hidden taxes" by way of increased rates and premiums to cover the cost of uninsured Americans. Are you OK with paying for the "free lunch" (e.g. the hospital/medical bills) of the uninsured now. Doubt it.
Jim R February 04, 2013 at 08:53 PM
"what does that make one who cannot construct a sentence in proper English? "=Shep The answer would be ignorant or sloppy, not stupid. Let me try once more. Money saved in Medicare waste is Medicare money not Obamacare money. He is stealing from medicare to pay for a bureaucraitc mess. Here is another example of what we are facing "Report: Obamacare to Cost Waterford Taxpayers $420k in 2014 " http://waterford.patch.com/articles/report-obamacare-to-cost-waterford-taxpayers-420k-in-2014
Shep February 04, 2013 at 08:59 PM
Definition of 'ignorant' (Dictionary.com): "Lacking knowledge or awareness in general; uneducated or unsophisticated." Alrighty, have it your way...Cheers!
Jim R February 04, 2013 at 09:41 PM
In my case it would be sloppy as I know better and did not spend sufficient time writing.
Shep February 04, 2013 at 10:17 PM
...and no offense intended on my part, Jim. I respect your right to say your piece. Just disagree on the "facts"...

Boards

More »
Got a question? Something on your mind? Talk to your community, directly.
Note Article
Just a short thought to get the word out quickly about anything in your neighborhood.
Share something with your neighbors.What's on your mind?What's on your mind?Make an announcement, speak your mind, or sell somethingPost something
See more »