Special Assessment

Special Assessment

If you belong to a neighborhood association or own a condo you’re probably familiar with “special assessments” for roofs, gardening, building repairs, etc. Well the government is no slouch and they have announced a special assessment for health care services.

I shouldn’t say the government announced because they didn’t but the Associated Press on Tuesday December 11 ran a story about a 25 billion dollar assessment charged to the insurance companies and businesses offering health insurance programs to employees under Obamacare. The assessment is actually a $63 per person fee to cushion the cost of covering people with pre-existing conditions under the new Obamacare health care overhaul.

This assessment is completely legal and is somewhat buried in the Affordable Care Act legislation is going to be a burden that according to most large corporations will be passed on to the workers. One employer said; we are being hit with a multi-million dollar assessment without getting anything back for it.

I should point out that the assessment goes into the HHS department and it is part of a bigger package of taxes and fees to finance Obama’s expansion of coverage to the uninsured. The projected cost of this coverage is to be $700 billion over the next ten years. However it is reasonable to assume that just like this 25 billion dollar assessment you and I can expect additional “assessments” because it is almost a certainty that like almost all federal government projects the actual costs will be wildly under estimated.

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