Daily Archives: October 25, 2013

Individual coverage cancellation and Why buy a plan on the exchange anyway?

Here’s Why So Many Americans Are Getting Letters Saying Their Health Insurance Is Canceled – Business Insider.

“If you like your health care plan, you can keep your health care plan.” This was one of President Obama’s key talking points when selling the Affordable Care Act, and it was never true — as many of the 14 million Americans currently covered by individually-purchased health plans are now learning.

And here’s why…

  • Some old plans don’t meet new requirements under the ACA (essential health benefits)
  • Some existing plans have especially sick particpants pools, so insurers want to end them (The state high risk pools should be included here too)

The article goes on to explain why you should or should not buy on the exchange…

If subsidies are only available inside the exchange, and the regulations are mostly the same, why would any insurers offer plans outside the exchange, and why would anybody buy outside?

follow the link….

Share

Dropped Coverage: One Cancer-Surviving Doctor’s Story in the Age of Obamacare

The PJ Tatler » Dropped Coverage: One Cancer-Surviving Doctor’s Story in the Age of Obamacare.

And now, Obamacare is costing his own family its insurance.

What the article doesn’t make particularly clear is that Dr. Carpenter does have access to Obamacare where they don’t care about his pre-existing conditions. That is ASSUMING healthcare.gov is fixed. Which is a “Mythical Man Month” thing and may or may not happen.

But the implication of the article is “spot on”. He had insurance he liked, it covered his situation and suddently he’s losing it thanks to Obamacare and has to pay more for the replacement coverage with its 10 essential health benefits.

Why more? Because Dr. Carpenter most likely doesn’t qualify for a subsidy. He pays the full price.

Remember. President Obama promised us we could keep our plan and our doctor if we liked it? He also mentioned reductions in annual premiums too. Not just once or twice either. Dr. Carson and many others are paying the price.

Some companies are extending their current plans through 2014. Assuming Obamacare survivives, another group of individual policy holders will have to face the music of paying higher premiums.

… I’m not obivious to those Obamacare helps. I just got off the phone with potential clients who will benefit from the coverage. There is no easy answer, but there’s a better answer than this complex cluster…

Share