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Anyone sign up with Obamacare yet?

  1. Nov 23, 2014 #1
    I'm sitting here a little depressed. I need to sign up my wife and I and the cheapest plan is $450/m with a $9000 deductible. We are both super healthy, rarely visit the doctor and were happy with our old catastrophe plans which were about $100/m each.
     
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  3. Nov 23, 2014 #2

    Evo

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    All I know is that Obama made it possible for my older daughter, Spawn of Evo, who has Chrons disease and was canceled by her previous insurance and uninsurable to get cheap insurance. His law made it illegal for insurance companies to turn her down. It's not the new plan, but I thank him every day.

    Greg have you shopped around for insurance directly from companies?
     
  4. Nov 23, 2014 #3
    As far as I can tell, the only non obamacare plans you can get are temporary insurance.
     
  5. Nov 23, 2014 #4

    Evo

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    Well, that stinks.
     
  6. Nov 24, 2014 #5

    Monique

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    That's $450/m for you both? That's a lot.

    One thing you can be happy about: you are super healthy and rarely have to visit the doctor. People like Spawn of Evo don't choose to be chronically ill and it makes sense to spread the costs over society, but that's my socialist view. I pay less than €100/m, or $120/m for mandatory insurance, to give an indication.

    Hopefully you can find a better deal, otherwise time will probably bring the cost down.
     
  7. Nov 24, 2014 #6

    jtbell

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    My understanding is that you can bypass the exchange (healthcare.gov or a state exchange if you have one) and deal with an insurance company directly. The main difference is you can't get a subsidy if you do that, but if you make too much to be eligible for a subsidy anyway, that's not a problem.

    There are requirements that all insurance plans have to meet, whether they're on the exchange or not, e.g. not being able to deny coverage because of a pre-existing condition. I think I remember reading that those requirements eliminated the catastrophic plans with super low premiums.
     
  8. Nov 24, 2014 #7
    That's likely what's hurting me. I bet this is why they are having trouble getting young people to sign up. A healthy person under 30 is going to have a real problem paying $250/m when they never see the doctor.
     
  9. Nov 24, 2014 #8

    Evo

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    Does your wife's employer not offer insurance Greg?
     
  10. Nov 24, 2014 #9
    No because she is technically not full time :(
     
  11. Nov 24, 2014 #10

    Evo

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    I would like to see employers give part time employees the option to benefit from an employer's group policy, even if they pay a larger premium, it's still got to be better than buying an individual policy.
     
  12. Nov 24, 2014 #11

    Danger

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    I haven't signed up. Being Canadian, I already have something even better. :p

    If I were a Yank, though, I definitely would.
     
  13. Nov 25, 2014 #12
    I don't know why many American complain so much about their medicare policy. Most of them already have monthly incomes as high as $5000 on average. Extracting from it only $400-$500/m is not a big deal.
     
  14. Nov 25, 2014 #13
    You would enjoy paying $500 and not getting anything for it? I haven't been to the doctor in years. It might not be if that were the only monthly expense o_O And the $5000 a month average is before taxes.
     
  15. Nov 25, 2014 #14

    Monique

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    You are getting something for it: insurance.

    The idea that you need to spend as much as you pay in a year is a strange one. Then you don't need to insure yourself, if you think you can pay medical bills without problem. A single round of chemotherapy can cost $20,000: you need to pay insurance for seven years to just cover that cost. You might be healthy today, but how about tomorrow? The insurance company needs to cover that risk.

    The bill of $225/person/month is a lot in my opinion, but it's well known that medical care in the USA is very expensive (maybe that's where change is needed).

    Can you opt for a certain amount of own risk? That will reduce your monthly bill and saves money when you don't need any care.
     
    Last edited: Nov 25, 2014
  16. Nov 25, 2014 #15
    The point of obamacare was to mandate coverage. Either you sign up or pay a penalty. This is a big problem. Many young people are choosing to pay the cheaper penalty.

    The thing that gets me is the deductible. The plan I am looking at has $9000 annual. So pretty much unless I get cancer, I'm paying $500/m and out of pocket for everything. To get value I better get in a train wreck.
     
    Last edited: Nov 25, 2014
  17. Nov 25, 2014 #16
    Oh you may become interested in this
    http://dealbook.nytimes.com/2014/06...o-consider-investments-in-united-states/?_r=0
    That you buy a health package from them is also meant to save your money at a very low interest rate. They also pay your checkup fee at a low percentage. Go with your own country's policy. Life span is in the US also higher than that in many others.
     
  18. Nov 25, 2014 #17

    SteamKing

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    That's what everyone thinks. But Obamacare's little surprise, which was carefully concealed until after the recent elections, is that the premiums for most plans are going up. Merry Christmas and Happy Birthday.

    Also, plans are priced in part on your age. Someone 25 years old is not going to pay the same premium as someone 50 years old. As you get older, even if you are healthy, you can expect to see an increase in your premiums. Obamacare may have repealed the laws allowing denial of coverage for preexisting conditions, but it didn't do anything about this.
     
  19. Nov 25, 2014 #18

    Monique

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    Gee, you pay $9000 out of pocket before any coverage? Yes, that's ridiculous. Apparently the system needs to go through a serious reform, I'm glad I'm not part of it. You can come to the Netherlands, we have good insurance plans ;)

    Don't speak of getting value, you don't want to get value for your money when it comes to insurance.
     
  20. Nov 25, 2014 #19

    Monique

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    That's how it goes, I'm working with a lawyer now (again) to find a way that I don't have to go into unemployment, while I pay myself with a government subsidy. It's easy to become vicim of rules that are supposed to be there to help you.
     
  21. Nov 25, 2014 #20

    SteamKing

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    While the ACA mandates that coverage be purchased, there is no similar mandate that physicians or hospitals are required to accept that coverage to pay for your treatment. If the coverage is turned down or not accepted, you still get a bill.

    http://americanactionforum.org/insi...ers-are-opting-out-of-obamacare-exchang-plans

    Reimbursements to physicians and hospitals, even should they accept the coverage, are very low currently and subject to going lower.
     
  22. Nov 25, 2014 #21

    Monique

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    Why would physicians or hospitals reject coverage? They don't make enough profit from the plan?
     
  23. Nov 25, 2014 #22

    SteamKing

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    If the reimbursements from the plans don't cover the cost of coverage, who makes up the difference? Hint: it's not the government.

    Private physicians and hospitals must make enough revenue to pay the utility bills, pay the staff, buy supplies and medical equipment, etc. If it costs, for example, $100 to treat a given patient, but you can expect a reimbursement of only $60 for that treatment, how long before that missing $40, multiplied by the number of patients who are treated, adds up to real money?

    For every $1.00 paid by private insurance, Medicare pays about $0.80, and most ACA plans pay about $0.60. In fact, the trend is to tie ACA plan reimbursement rates with prevailing Medicaid reimbursement rates, which are rock bottom as it is.

    For those of you not from the US, Medicare is the federally-administered healthcare program for those who are 65 and older.

    http://en.wikipedia.org/wiki/Medicare_(United_States)

    Medicaid is a health care program set up and administered by the individual state governments to care for the indigent or others with low incomes or limited resources:

    http://en.wikipedia.org/wiki/Medicaid

    The reimbursement rates for physicians and hospitals are set by the Centers for Medicare and Medicaid Services, the department inside the Department of Health and Human Services of the federal government which administers Medicare. Various fee schedules for treatment have been set up over the years, but because Medicare is administered by the federal government, these fee schedules and the reimbursements provided are subject to revision by Congress when it comes to drafting the federal budget. In general, over the last decade or so, the trend is to provide smaller reimbursements to doctors and hospitals for their services.

    As of 2008, Medicare alone consumed 13% of the federal budget. Over the period 2010-2019, this share is expected to increase to just under 15%.
     
  24. Nov 25, 2014 #23

    Monique

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    Does that mean that Greg actually should be paying more to the insurance plan? Why does it work in other countries, but not the USA?
     
  25. Nov 25, 2014 #24

    Evo

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    Greg, have you actually checked with companies like Humana, United Healthcare, Kaiser Permanente, Aetna, Coventry, Blue Cross Blue Shield, etc... I had individual insurance policies with no deductible, included prescription meds and was only $400 a month for the two of us. Of course it was top of the line coverage, you might not need a plan with that much coverage. That was two years ago, so, I would assume the premiums are a bit higher now, but you probably don't need as much coverage as I carried.
     
  26. Nov 25, 2014 #25

    SteamKing

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    Long story short, Greg is already paying more for his insurance plan, to cover the cost of treating those who cannot be denied coverage.

    In other countries, like the UK with its NHS, the cost of hospitals and physicians is a budget item, i.e., the government pays for health care. Now the money for these programs can come from only one source: the taxpayer. You have an elaborate national taxation system to collect revenue, in the form of income taxes, fees (like the National Insurance), and a particularly burdensome Value Added Tax system on goods and services, i.e., a tax on consumption.

    http://en.wikipedia.org/wiki/Value_Added_Tax_(United_Kingdom)

    Because of the nature of the VAT (it is levied in increments at each stage of production), often the true amount of tax is obscured in the price being paid by the consumer.

    In the US, there is no national tax system which resembles the VAT, although one has been proposed on occasion. Certain programs, like Medicare and Social Security, are nominally funded thru payroll taxes, but in recent years, the amount collected thru taxes has been exceeded by the amount of benefits paid out. The surpluses which were accumulated in previous years have been borrowed by the federal government, in part to make up for financing its annual budget deficits.

    By mandating coverage for all comers, ACA plan rates are necessarily going to reflect that the costs of covering those who cannot pay for insurance or whose insurance coverage does not cover the cost of their treatment will be shifted and proportioned over all the policyholders in that plan.
     
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