You know what Americans love? Healthcare reform that makes you a criminal if you don't buy an private product from a private company. Because for some unknown reason, your mandated health insurance payment to the giant health insurance company may get tossed. here's Jumping and dumping, and it's a very simple process.
You "forget" to sign up for the mandated health insurance through the Obamacare exchange. The fun begins January 1, 2014 IF the state exchanges are set up in time. So far only 13 that will definitely have their exchanges set up by then.
Since I don't want to be labeled "seditious" I'm only giving you this info for entertainment purposes. You never want to disrespect the will of Congress, some of whom bought healthcare stocks before the 2009 vote on Obamacare. Just sayin.
Obama is comfortable with making you pay for health insurance regardless of your ability to pay. The subsidies take into account your annual gross income or AGI, also known as net income. That doesn't take into account other non deductible bills that you've already incurred, say credit card debt, college loans, mortgage or rent, car loan etc. Someone that does well on paper, may not actually have the extra $7000-$15,000 to spend on health insurance. Even with the money, they may not want or need health insurance.
#1 Like more cash?
I've seen wild speculation about how high health insurance rates could go because of Obamacare. I've seen a range of anywhere from 20-400%. Many people can barely afford their health insurance now, before the major plethora of Obamacare regulations go into effect.
I think if you do a study on the demographics of the Claim Jumpers in Massachusetts, you'll find they incurred the $295 penalty, then bought the health insurance out of necessity. Some people that have large commitments, like child support, college debt, credit cards, car payments, etc. Should we call those people irresponsible, that are living hand to mouth because of a bad economy? $695 per person and over $2000 per family.
#2 No federal insurance exchange
There's a huge glitch in Obamacare. It's obvious that not all the states are going to comply with the Affordable Care Act. Problem: To hide the true costs of Obamacare, Democrats left out funding for federal exchanges to be set up when States did not participate.
And even if federal exchanges would get up and running with no funding, Congress never authorized tax credits for insurance bought through them. You probably won’t get any subsidy if you live outside of CA, CO, CT, HI, MA, MD, NV, OR, RI, WA, WY, UT, or VT.
#3 You don’t qualify for (or want) Medicaid
If your AGI or adjusted gross income exceeds 133% of the FPL or federal poverty level, you don't qualify for Medicaid. Even if you did get a primary care appointment, it's notoriously hard to find a doctor, and specialist even harder.
#4 Few choices for more money
Along with the increase in price, Obama wanted a simplification of the available options to make the buying process simpler and easier to administer the health insurance exchanges. although Joe Obamacare offers a plethora of new mandatory coverage, healing gives you four levels of coverage. Maybe you want all your health insurance coverage has an HMO. Maybe you want a plan with a fixed dollar amount deductible. You may not have that if you decide to buy health insurance through the state exchange.
#5 Public option = outrageous rates
after 2014, when the rates really jump, there might be a public outcry for a government-sponsored option. Backed by the federal government, they can set artificially root low rates than compete with private business. As soon be the final death blow to private health insurers in the US. 15 the Muslim become a curse since people piled into the public option and left private insurers no customers, limited potential profits, but unlimited losses. when these insurers left the health insurance business never to return, the government would be stuck paying for everyone. And they will be forced to raise prices, like their private competitors. it might take months or years but it would happen.
#6 You get married
Similar to the marriage penalty in income tax, your income is joined for purposes of the government tax credit on health insurance. So you could lose substantial subsidies once you get married. consider fretting over the tax disadvantages of being married, you can simply claim jump.
#7 Your family is excluded from subsidies
If your employer offers to flee only coverage costs subsidies may not be available to you. This may not seem fair while most everyone else gets them. sure, Obamacare is a good deal for you but your family is left paying boat. 10 to 15,000 a year for family coverage, I am literally talking about going out and buying a nice boat every year. Or a nice used car every year.
#8 Your employer ends coverage
maybe you have a job with health insurance you like. but individual coverage is projected to grow up to $7000 in cost per year. If your employer has to subsidize at least half of that, Debbie paying $3,500 to $4,000 year. that is only for individual coverage, family coverage including spouse and dependents can be much much higher. if your employer can pay the $2,000-$3,000 penalty for kicking you off the health plan, they will actually come out ahead.
And it's likely that many companies will simply look at the cost, and the extensive new regulations, and either automate or relocate overseas. by automating the company will really reduce its cost of labor. The sick days, no lawsuits, and no health insurance.
The company may relocating overseas where wages are much lower per year. In fact, in some countries the workers actually make less per year than the annual Obamacare penalty. China and Southeast Asia other countries that will benefit from the Obamacare in terms of private industry and manufacturing.
#9 You need a medical procedure to work
If you want to enroll in the state, insurance exchange because you can't afford surgery, that make you a bad person? Many people have avoided doing some things at work because their pampered in some way, so they need a knee replacement, vertebrae fused, etc. I have extensive sports related injuries, I can tell you that they almost never get better with age.
You like to get back into the active workforce, so "jump" into the state health plan and get yourself fixed. Perhaps you can continue paying your health insurance premiums after you find gainful employment thanks to your repair.
#10 You get a raise
Oh the dreaded promotion. Something employees used to feel entitled to if it were covered sacrificed and it will for the employer. No longer. Comp placement actually make their employers not give them a raise, so they do not endanger important health insurance tax credits. Can you imagine gaining a small raise of say $1,000, you losing several thousand dollars in subsidies?
Similar to the income tax, the Obamacare tax credits are a depressant on wages. As if you are not only worried about keeping your job, in the Obamacare economy, now you might protest future pay increases. Ask your employer to give you more sick or vacation time, or other non taxable spiffs. Maybe a shiny new title, an intern, or a corner office?
Kill the bill! Regardless of who wrote what, Obamacare needs to go, and be replaced with true healthcare reform.
Recommended Obamacare / PPACA / Affordable Care Act Links:
Craig Casey is an Writer, Coach, Blogger, Husband, and Former Health Insurance Agent helping people on the web since 1999 with their health insurance problems.
