Obamacare will kill off some existing health plans
Cheap, no-frills insurance that doesn't cover medication, maternity or mental health services will get the scalpel in 2014.
Know that health care plan you just signed up for? Don't get too attached.
The Affordable Care Act mandate most commonly known as Obamacare has some tight stipulations that, CNN says, are forcing health care companies to rip up most of their current plans and draft new ones that comply. According to a University of Chicago study, just about half of the individual health care plans currently on the market won't cut it once key provisions of the Affordable Care Act kick in next year.
A handful of existing plans will be grandfathered in if members have been enrolled in the plan since before the ACA passed in 2010, and the plan has maintained steady co-pay, deductible and coverage rates. But plans that don't match that description are just going to flat-out disappear in 2014 when rules requiring enhanced coverage go into effect.
About 15 million Americans, or roughly 6% of non-elderly adults, buy individual health care coverage. Starting this fall, they'll be able to shop for and enroll in health insurance through state-based exchanges. That coverage takes effect in January and, by 2016, some 24 million people will get insurance through the exchanges, according to Congressional Budget Office estimates. Another 12 million will continue to get individual coverage outside of them.
Both groups will be affected, as new plans will be required to cover essential services including medication, maternity and mental health care, which many current plans don't. The insurers in the Blue Cross Blue Shield Association, for example, are preparing four tiers of coverage for next year. On the high end, plans with the steepest premiums will require only 10% out-of-pocket costs, on average. In low-end plans, less-costly premiums are offset by higher deductibles and co-payments that add up to 40% of out-of-pocket costs, on average.
Starting in 2014, all Americans will be required to have health coverage or face a fine of $95 per adult or 1% of adjusted family income, whichever is more. Those with annual income four times the poverty line -- or roughly $45,000 for an individual and about $92,000 for a family of four -- will receive federal subsidies to defray premium costs.
While even low-level plans in 2014 are likely to charge higher premiums than today's budget-rate, low-end individual insurance, many customers will end up with lower out-of-pocket costs and more comprehensive coverage for their money.
So when Obama said "if you like the plan you are on, you can keep it", that was a lie?
And when he said there will be no new taxes on the middle class, but now we will be "fined" (taxed) if we don't buy insurance, so that was a lie?
And when he said health care costs would go down, but we will now be paying higher premiums, that was a lie?
Of course they were all lies, and the idiots that voted him back in, deserve the presidential screwing they're going to get.
Looks like Obama slipped the American people another conspiracy under a BS cover story via Nancy "The wicked Witch of the West" Pelosi and Harry Reid.
With 2 names we can officially call it a Conspiracy
I just want good insurance for big things. So much is being added to make medical insurance a maintenance plan that premiums are just going to go far higher in cost. The unaffordable care act did nothing to bring cost of care down hence we will just pay more and more as insurance companies hit their spending targets not savings targets
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