California Health Insurance Prices To Double

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    May 31, 2013 1:20 PM GMT
    I think this is the first topic I ever started on the website, but since there are a few topics already about the Affordable Care Act it seems like there is much interest in discussing it. And believe me, I wish I wasn't even having to think about this kind of stuff.

    First, I want to summarize my particular situation:

    My employer is dropping our coverage in the early part of 2014.

    The insurance company that I have had is not going to be a part of the exchange.

    My doctor only takes plans from very few insurance companies (none of which are intending to participate in the new California exchange).

    I am now faced with having to pay for my own health insurance and having to pick a different doctor, both of which we were all assured would NOT be the case.

    It was explained to me here last week that the Affordable Care Act will be lowering the cost of purchasing health insurance. That is only partially correct. It is projected to lower the cost for only small businesses purchasing plans for their employees.

    For people like me, whose employer is going to stop offering health insurance for their employees, those employees - like me - will have to fend for themselves and purchase their own health insurance in the California Affordable Care Act Exchange. The costs of these plans will be rising more than 100%.

    Here is the quote from Forbes online magazine:

    Obamacare to double individual-market premiums

    If you’re a 25 year old male non-smoker, buying insurance for yourself, the cheapest plan on Obamacare’s exchanges is the catastrophic plan, which costs an average of $184 a month. (That’s the median monthly premium across California’s 19 insurance rating regions.)

    The next cheapest plan, the “bronze” comprehensive plan, costs $205 a month. But in 2013, on (NASDAQ:EHTH), the average cost of the five cheapest plans was only $92. In other words, for the average 25-year-old male non-smoking Californian, Obamacare will drive premiums up by between 100 and 123 percent.

  • musclmed

    Posts: 3223

    May 31, 2013 2:29 PM GMT
    i saw the high fiving on MSNBC, but they really didnt do any fact checking on it.

    Surprising for Rachelle Madow.
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    May 31, 2013 3:41 PM GMT
    More here:
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    May 31, 2013 4:18 PM GMT
    I'm really not sure what I'm going to do. I've taken a second job and am putting aside all the money I earn from that job to be used to pay for my own health insurance. That's really the only thing I guess I can do, unless I just skip it and pay the tax penalty instead.

    One of the other members here suggested that I bring a union into my full-time employer! That would be even more damaging in my opinion because then I would have to start paying union dues and would get to keep even less money I earn with no guarantee the company would reinstate their health insurance benefits.

    I wish instead of blowing up the entire system just to get some people who didn't have health insurance to purchase health insurance they had just focused on those people and not all the rest of us who were doing fine in the old system.

    It is also a bit surprising to me that being this is a health oriented website that only a few of the members seem to be interested in this topic.
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    May 31, 2013 5:34 PM GMT
    It gets worse. Even if you can pay for it, it might get cancelled:

    New health insurance rules under ObamaCare could lead to a host of personal insurance plans being canceled as early as this fall, a scenario expected to cause consumer confusion.

    Under the federal overhaul, those policies that cannot meet new insurance plan standards may be discontinued. This means individuals, and some small businesses, that rely on those plans will have to find new ones.

    The goal is to ensure that most insurance policies offer a basic set of coverage, as part of the Obama administration's plan to cover most of the nation's 50 million uninsured.

    Yet it also seems to run afoul of one of the president's best-known promises on the law: "If you like your health care plan, you'll be able to keep your health care plan."

    In fact, state insurance commissioners largely are giving insurers the option of canceling existing plans or changing them to comply with new federal requirements. Large employer plans that cover most workers and their families are unlikely to be affected.