04/17/2017

We Have To Earn $42,000 Every Year Just To Cover Our Obamacare, And GOP Plans Won’t Help

Douglas Tate, The Federalist

For this healthy couple over 60 years old, there is no substantive difference between Obamacare and the AHCA. In many respects, we may be worse off financially.

As Republicans’ effort to resuscitate their plan to “repeal and replace” Obamacare gains momentum, perhaps it would be illuminating to ask someone who is actually insured under Obamacare to share his or her perspective.

My wife and I are both older than 60. We are in excellent health, not under any prescription drug regimen, and physically active. We live in New Hampshire, which enjoys not only a variety of weather patterns, but a plurality of Obamacare insurance providers.

My wife and I have not benefitted from an employer-provided health insurance plan for more than three years. We have instead obtained our health insurance through Obamacare. To keep the insurance plan, doctors, and hospitals we liked for more than 14 years, our premiums under Obamacare increased 225 percent with deductibles increasing 325 percent.

We couldn’t afford the annual premiums of $22,000, so we were forced to change our doctors and insurance plan. While we managed to reduce our premiums, we lost significant choice in hospitals and were subjected to ever-increasing deductibles.

We Have to Pay $15,000 for Our Insurance to Kick In

We purchased our Obamacare through a broker because doctors convenient to our location who were accepting new patients only accepted broker-sourced insurance plans. Had we purchased our Obamacare via the “exchange,” our nearest doctor would have been more than 45 miles away, more than an hour’s drive. The exchange-sourced policies also featured extremely limited hospital availability.

While relatively healthy, we recently needed treatment from our physician. The treatment was minor, but it laid bare the realities of what is covered by one’s plan and out of one’s deductible. Thankfully, a helpful customer service person from our insurance company explained how Obamacare coverage really works relative to essential health benefits.

The key distinction is the difference between preventative and diagnostic procedures. Preventative procedures are covered directly by one’s Obamacare policy, and not subject to deductibles. Under our policy these are limited to mammograms, colonoscopies, appointments for gynecological exams and physicals, and cholesterol screening. Diagnostic procedures include all other procedures and tests and must be paid for by the patient until his deductible limit has been satisfied.

Given the focus on prevention to head off serious medical issues, including these procedures and tests is appropriate. However, if we were to avail ourselves of all these tests during a normal year, the imputed cost would be less than $2,000 for both of us. This includes the prorated cost of a colonoscopy, since we, thankfully, don’t need to experience that procedure every year.

After accounting for these annual preventative treatment costs, there is more than $13,000 remaining of our more than $15,000 annual premiums to cover a serious or catastrophic situation. However, the coverage associated with that remaining $13,000 is not available until we have paid approximately $15,000 in deductibles (i.e., roughly $7,500 per person). The impact of deductibles is particularly vexing if one becomes sick at the end of a given policy year, as the deductible balance resets to zero on January 1.

Read full article



You May Also Like:

Trump To Order Investigation Into FBI/DOJ Surveillance Of His Campaign Justin Caruso, The Daily Caller

H.A.L.P.E.R. Spells Game Up for Obama's Spies Clarice Feldman, American Thinker

Stefan Halper Agent Provocateur – In His Own Words… sundance, The Last Refuge

Mnuchin Says US Has Deal With China To Cut Trade Deficit, Will Hold Off On Tariffs [Watch] Joseph Weber, Fox News

Protect Us from Such ‘Victories’ Don Boudreaux, Café Hayek

Al Sharpton: Royal Wedding Proves White Supremacy ‘On Its Last Breath’ Ben Kew, Breitbart

Hillary Clinton Says She's Not Over The 2016 Election, Pulls Out Russian Hat During Yale Speech [Watch] Naomi Lim, Washington Examiner

Study: Voters Worried About Political Correctness Flocked To Candidate Trump Robby Soave, Reason

Jonathan Swift In A White Suit Matthew Continetti, The Washington Free Beacon

Marijuana Arrests Are Not Racist: Some Neighborhoods Have Heavier Enforcement Because They Have More Crime, And Complaints Seth Barron, New York Daily News

Andrew Sullivan: Obama’s Legacy Is Dead And Trump Killed It streiff, RedState

Starbucks Is About To Woke Their Way Out Of Business Jazz Shaw, Hot Air

Elizabeth Warren Boldly Pledges To Never Take Money From A Group That Has Never Donated To Her [Watch] Timothy Meads, Townhall

Jordan B. Peterson Isn't Criticizing Women When He Discusses "Agreeableness" Sean Malone, Foundation For Economic Education

For More go to the Home Page >>>

Join Our Email List



section

Bookshelf

FreeMarket Central

Some titles recent, all recommended -

Special Video Feature

FreeMarket Central

Voices From The 2017 International Students For Liberty Conference

section

In Search Of History

The Reagan Tax Cuts Worked

Thanks to "bracket creep," the inflation of the 1970s pushed millions of taxpayers into higher tax brackets even though their inflation-adjusted incomes were not rising. To help offset this tax increase and also to improve incentives to work, save, and invest, President Reagan proposed sweeping tax rate reductions during the 1980s. What happened? Total tax revenues climbed by 99.4 percent during the 1980s, and the results are even more impressive when looking at what happened to personal income tax revenues. Once the economy received an unambiguous tax cut in January 1983, income tax revenues climbed dramatically, increasing by more than 54 percent by 1989 (28 percent after adjusting for inflation).

 

-- Daniel J. Mitchell,

Shadow Stats Snapshot


FreeMarket Central

ShadowStats alternate economic indicators are based on the methodology of noted economist John Williams, specialist in government economic reporting.

  • Unemployment:
    FreeMarket Central BLS: 3.93%
    FreeMarket Central Shadow Stats: 21.5%
  • Inflation:
    FreeMarket Central April Year-to-Year: 2.46% (CPI-U*)
    FreeMarket Central Shadow Stats: 9.9%

*[cpi-u is the Bureau of Labor Statistics inflation rate for all urban consumers]

section