Now That Obamacare Has Passed, Here's What It's Going To Cost You

Business Insider ^ | Jun. 28, 2012, 11:54 AM | Mandi Woodruff

[Fawn]

Now that President Obama's health care overhaul has won the last stamp of approval from the U.S. Supreme court, the question you're probably asking is, Who's going to pay for it?

The Affordable Care Act will extend health care coverage to some 30 million uninsured consumers along with an expansion of Medicaid services. It also promises a slew of tax credits for small business and middle-income families to help offset the costs of mandatory coverage.

[tnlibertarian]

Now That Obamacare Has Passed, Here's What It's Going To Cost You:

Your freedom, your privacy, your choices, your wallet, your current health insurance, your health, your life.

[ModelBreaker]

“As I was listening to co-workers ecstatic over Obama care because of pre-existing conditions and covering everybody, I tried to find an article on how much it would cost individuals with income under #200,000. But, no one seems to know. It certainly would help in changing minds and waking people up. One co-worker says she would not mind paying MORE so that everyone could be covered and hates the selfish people who only want coverage for themselves. Anyone have any idea what it’s going to cost a single/family for coverage? All I find is articles on ‘penalty fees’....which is useless.”

You have to divide it up into three groups:

MEDICAID

Obamacare greatly increases the scope of Medicaid coverage. About 20 million additional people will be covered under Medicaid. Under Medicaid, coverage/insurance is free. So about 1 in 6 Americans will be getting free health care.

BETWEEN 133% of the POVERTY LEVEL AND 400% OF THE POVERTY LEVEL

In this range, you might get coverage from your employer. More likely most employers will drop coverage and take the penalty. If that happens, you have to go to one of the insurance exchanges, where you can buy one of only three insurance plans permitted, Bronze, Silver and Gold. What must be covered in each type of plan will be set and changed by Dept HHS regulations.

How much these plans will cost is difficult to project. First, the cost has not been set. Second, gaming of the system by people who don’t buy insurance until they need it greatly increases the cost of these plans. If they get sick, they buy insurance and they cannot be turned down because they are sick. Third, you have to take into account income. Up to 4x the poverty level ($88,000) and you receive a subsidy for your insurance plan. The more money you make, the greater the subsidy.

GREATER THAN 4x POVERTY LEVEL

You or your employer or both just have to pay the price for a Bronze, Silver or Gold plan. How much that will be is anyone’s guess. The experience in Massachussets has not been encouraging. When the MA bill was passed, experts predicted premiums would go down. Instead, they have gone up 25-30%. The most likely factor in the increase is that people are gaming the system (see above) at a much higher rate than expected. In addition, MA wait times are the highest in the country. To get into see a doctor, the average wait is 45 days, last numbers I saw. So for the NON-Medicaid people, prices are going up and service is going down.

That said, the folks above $88,000 are obviously going to be subsidizing folks under $88,000 extensively, either thru higher premiums, higher taxes or higher federal deficits.

OTHERS HIT HARD

The other folks that are hit the hardest will be doctors, the folks under 133% of the poverty level, for whom Medicaid will be the only option.

In Medicaid, it has been irresistible for the feds to reduce costs by reducing reimbursements to doctors. That has been a steady trend since the 1980’s. It will only get worse as Medicaid expands. That’s why Medicaid patients have a very hard time finding doctors who will treat them, many doctors are losing money given the reimbursements they expect. So both doctors and poor people will be hurt badly with respect to Medicaid patients.

[Fawn]

No, I know exactly what you are saying.
I'm just going to keep silent about it now.....wish I could get my hands on the guy who did the video. Yes, thank GOD even some of it is true or half true. I think the death panels, and gov't intervention into our bank accounts, and more EVIL is overall... TRUE.

[Fawn]

YUP!

[Fawn]

Thank you...

[annieokie]

"""I'm just going to keep silent about it now"""

I'm with you on this. Whatever harm or good from that video will have to stand on its on. At this point, I believe there is some validity in there.

The Obamacare bill is whatever the Administration says it "is" at the moment. So we will never know the meaning of "IS".

thanks and good day.

[annieokie]

From the Website:

""The 3.8% tax is imposed ONLY on those with more than $200,000 of Adjusted Gross Income (AGI) ($250,000"""

This TAX the RICH is still BAD and will effect all of us in the long run. Tax on their investments, means they will have less to invest that could benifit all, am I wrong?

[nascarnation]

I agree with you 100%.

I just wanted to correct the misinformation on the earlier posts. I’ve seen that false email on FR at least 20 times.

Obamacare is bad enough as it was actually passed.

[annieokie]

I knew you agreed. lol Just wanted that TAX the RICH statement out there in case others didn't go read it.

I get these Obama things in my email two or three times a day. What are my fiends thinking? How many times does this stuff have to be told, we all know. I just DELETE and tell them to STOP ruining my day with Obama CRAP (pun intended).

There is nothing on the face of this earth that will keep me from voting AGAINST Obama.

[pigsmith]

bfl

[redhead]

What if:

1. I'm over 65
2. I don't have health insurance because I never go to doctors, and it would be a waste of money to buy something I wouldn't use more than once every five or six years?
3. I'm on a fixed retirement income and won't be able to afford to buy it??