Skip to comments.Your Company Health Plan Isn’t Safe in a Biden Presidency. Two of his policies would lead to 24 million losing employer coverage, costing $2.2 trillion over 10 years.
Posted on 09/21/2020 1:38:29 PM PDT by karpov
In the summer of 2008, the Obama-Biden presidential campaign ran the most-aired ad of the decade, Unravel, alleging that Sen. John McCains policy proposals would dismantle employer-based health coverage. Twelve years later, that ad takes on an ironic tone for President Obamas vice president. As I outline in a new report, Joe Bidens health plan could pull apart the system by which most Americans receive insurance.
The collapse would come as a result of two interlinked provisions in the Democrats plan. Mr. Biden proposes to increase subsidies for ObamaCare exchange plansdecreasing the percentage of income households must pay in out-of-pocket premiums, and increasing the cost-sharing assistance provided for deductibles and copayments. He would also repeal an ObamaCare provision that prohibits households that are offered affordable health coverage by their employer from receiving exchange subsidies.
To illustrate the effects, consider a family of four earning 250% of the poverty line. In 2018 this household would have earned $61,500 and paid an average of $5,431 for family coverage from an employer, with an average deductible of $2,961. But under a subsidy regime referenced in Mr. Bidens plan, and originally proposed by the Urban Institute, that same family would have paid $3,690 for a plan with a deductible of only $1,000. Even after the tax preference for employer-provided insurance, the family could see savings of $2,236 a year, or nearly $200 a month.
The combination of lower premiums and deductibles would encourage significant switching from employer insurance to the exchanges. Virtually all households with incomes below 200% of the poverty line could save more than $100 a month, and some above that threshold would save, too.
(Excerpt) Read more at wsj.com ...
What are you kidding?? No one is safe with the traitor Beijing Biden as president.
The Dems public option simply means that government can always undercut private insurance and monopolize health care. Presto: Single
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