Daily Archives: September 30, 2013

Poll: Most will get health insurance

Poll: Most will get health insurance – Tal Kopan – POLITICO.com.

Asked whether they plan to get insurance when the requirement takes effect or pay the fine for not doing so, 65 percent of uninsured Americans said they would get health insurance, according to a Gallup poll out Monday. Twenty-five percent said they would pay the fine.

Gallup also asked about the whether those individuals planned to use the exchange markets that launch Tuesday to buy their insurance. Almost half, 48 percent, said they planned to use the exchanges, 36 said they did not and 17 percent weren’t sure.

If these uninsured want a government subsidy, then they will have to use the exchange.

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Colorado: Subsidy 60 year old couple

This subsidy chart for a 60 year old Colorado 26 year old Colorado couple was created using the updated subsidy calculator on the Colorado Marketplace, Connect for Health Colorado. Boulder is fairly typical for the state and Edwards/the Vail Valley is indicative of the resort areas.

 

Subsidy graph 60 year old Colorado couple

As you can see thee are significant subsidies for all levels of MAGI. The subsidy cutoff level is a MAGI of $62,040, although the last value I plotted was $61.750. Using the latter as the cutoff level, an interesting question to ask is what is the penalty for making $1 more than the cutoff?

The annual penalty, measured in terms of lost subsidy, for making one additional dollar above the cutoff level is based on the subsidy level right below cutoff. This is shown below:

Boulder: Subsidy at cutoff – $586/mo

Edwards: Subsidy at cutoff – $1457

Annual penalty for making $1 above the cutoff level…

Boulder – $7032

Edwards – $17,484

Wow, it seems to me there will be lots of income management going on for older couples near the threshold. Talk about a disincentive to make more money. We’re from the government and we’re hear to help.

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Colorado : 26 year old young invincible subsidy

This young invincible subsidy chart for a Colorado 26 year old was created using the updated subsidy calculator on the Colorado Marketplace, Connect for Health Colorado. Boulder is fairly typical for the state and Edwards/the Vail Valley is indicative of the resort areas.

Colorado Young invincible Subsidy

In general, young invincibles in Colorado that have a modified adjusted gross income greater than $27,500 or $30,000 will receive no subsidy. Edwards is a dramatic exception which is due to the cost of health coverage being substantially more expensive in the resort areas.

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What You Need to Know About the Affordable Care Act

What You Need to Know About the Affordable Care Act – WSJ.com.

  • If you need insurance
  • Plans
  • Tax Credits
  • If you need help
  • The fine
  • Medicaid
  • Protections
  • Kids and women
  • Businesses

And let me add once again…

  • If your income is greater than 400% of the Federal Poverty Level, all exchange plans plus additional plans are available off the exchange.

These plans are the same Qualified Health Plans covering the 10 Essential Health Benefits and are guaranteed issue with not pre-existing exclusions. They have the same Bronze, Silver, Gold and Platinum coverage options.

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11 Pieces of Obamacare Conventional Wisdom That Shouldn’t Be So Conventional – Bloomberg

11 Pieces of Obamacare Conventional Wisdom That Shouldn’t Be So Conventional – Bloomberg.

  1. Once Obamacare goes into effect, it will be impossible to substantially cut it back.
  2. Accountable Care Organizations are certain to bring down overall health spending
  3. Obamacare works because it gets money from deadbeats who go to the emergency room and then stiff the rest of us for the cost.
  4. Emergency room use will decline.
  5. People can game the system by going without insurance and then buying it when they get sick.
  6. Breaking the link between health insurance and employment will spur entrepreneurship.
  7. Obamacare will reduce the budget deficit
  8. The Independent Payment Advisory Board is going to radically change the relationship between you and your doctor.
  9. People with pre-existing conditions will be able to buy insurance in the private market for the first time.
  10. Obamacare will bend the cost curve.
  11. Obamacare will make bankruptcy a thing of the past, at least for the people who gain coverage.

I disagree with point #9 by the way. In general if you have a serious pre-existing condition, the only way to procure coverage was to sign up with the state risk pool. Perhaps that’s what Megan did and she wasn’t aware?

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10 things Health Exchanges won’t tell you

10 things Obamacare won’t tell you – 10 things – MarketWatch.

 

 

 

 

 

 

 

  1. You might want to avoid signing up on Day One
  2. Yes, some workers are being required to use exchanges – but not these exchanges
  3. Expect to be confused
  4. Don’t bother asking our staff for recommendations
  5. Blue states do it better
  6. Abuse our honor system at your peril
  7. You’ll still pay for this, even if you don’t use it
  8. We’re a magnet for hackers and con artists
  9. You might not be able to keep your doctor
  10. Competition is for the greater good – except when there aren’t any competitors

and I would like to add number 11….

 11. If your income is above 400% of the Federal Poverty Level, there is no need to shop on the exchange. Exchanges are for subsidies and to determine eligibility for expanded Medicaid and CHP+.

 

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