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ACT (Obamacare)

Started by wolf39us, September 27, 2013, 10:02:05 PM

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Colanth

Quote from: "LikelyToBreak"With Obamacare, the 15% who are currently Uninsured will be forced to buy Private Non-Group insurance.
Or, since the penalty is less than the insurance premium, pay the penalty.

It will also result in many people who now buy insurance privately (non-government, non-employer) to pay less for premiums.  (If my wife currently had private insurance, her premiums under ACA would drop at least 75%.)

Back to the OP, I'm using the VA for medical care, so my cost is fairly minimal.  I'm on medicare, with a supplemental policy, so that's where the VA is getting paid for my care.

My wife is currently unemployed and not old enough for Medicare, so unless she finds a job that includes medical coverage, we have the choice of paying the penalty (she has no coverage now) or paying about 4 times as much for minimal coverage.  In a few years she'll be on Medicare, so that will solve that.
Afflicting the comfortable for 70 years.
Science builds skyscrapers, faith flies planes into them.

Colanth

Quote from: "AllPurposeAtheist"For 30 years I had zero insurance then found out this year I qualified for 100% coverage at the VA.
I do need to check if I need to fiddle with the ACA or not..
Go to http://www.va.gov/health/aca/ and read #2.  You don't have to do anything.  The first paragraph after #3 explains it.  (You should have gotten that notice in the mail about 2 weeks ago.)
Afflicting the comfortable for 70 years.
Science builds skyscrapers, faith flies planes into them.

Jmpty

The penalty goes up after the first year.
???  ??

wolf39us

Quote from: "Colanth"It will also result in many people who now buy insurance privately (non-government, non-employer) to pay less for premiums.  (If my wife currently had private insurance, her premiums under ACA would drop at least 75%.)

They drop for older people and vastly go up for the 27-35's

LikelyToBreak

Colanth wrote in part:
QuoteOr, since the penalty is less than the insurance premium, pay the penalty.

It will also result in many people who now buy insurance privately (non-government, non-employer) to pay less for premiums. (If my wife currently had private insurance, her premiums under ACA would drop at least 75%.)
What does that have to do with the insurance executives and stockholders making more money with Obamacare then without it?  Also, besides the ability to stay out of jail, what do those paying the penalty get?

I'm not against universal healthcare coverage.  I am against a program which only makes the rich, richer.

FrankDK

I have Medicare with the remainder paid by Tricare (military retiree).  My wife uses Tricare at Walter Reed.

It would seem to be a simple thing to provide health care for the entire country this way.

Frank

AllPurposeAtheist

Quote from: "LikelyToBreak"Good question AllPurposeAtheist.  From my scanning of the bill, it seems the individual states are required to educate the public.  So, you need to check with the state which you live in for consumer information about how it effects you.  Good luck with that.
HAHA! I live in Ohio where John Boehner is regularly elected, John Kasich is governor and rubes control both houses of congress. Obama won the state both elections though.
Oh what am I saying? Ohio rubes LOVE Obamacare! :-k
All hail my new signature!

Admit it. You're secretly green with envy.

Aroura33

Quote from: "wolf39us"
Quote from: "Colanth"It will also result in many people who now buy insurance privately (non-government, non-employer) to pay less for premiums.  (If my wife currently had private insurance, her premiums under ACA would drop at least 75%.)

They drop for older people and vastly go up for the 27-35's

This is just untrue.  Though it also varies from state to state.

My brother is 34, and gets no health insurance through his employer (a trucking company). He has looked at the cost of purchasing health insurance on his own, and it is FAR more than what he will be able to get it for under ACT.  Before act, he's looking at about $375+ a month.  Now, he'll be able to get it for about $125.  And he makes quite a lot of money, too, after 12 years as a long-haul-trucker.  He's about 400% above poverty level.

One of the things I have been reading is that many younger incorrectly people think their health insurance will go up, but this is misinformation being spread by the right, and they are doing a better job of MIS-informing most of America than the government is doing about correctly informing us about ACT.  It's so freaking annoying!
"A life is like a garden. Perfect moments can be had, but not preserved, except in memory.  LLAP"
Leonard Nimoy

wolf39us

According to healthcare.gov I'd be looking at $185/month for barebones and I'm at 300% above poverty level.  I'm 27 and have 0 health issues (non-smoker)

aileron

Quote from: "wolf39us"At $95 penalty for the first year for those that do NOT get coverage.

The fee is $95 minimum or 1% of household income, so the penalty could run much higher.

QuoteI'll pay the fee personally.

Why would you opt out?  It's a very bad financial and healthcare decision.
Gentlemen, you can't fight in here! This is the War Room! -- President Merkin Muffley

My mom was a religious fundamentalist. Plus, she didn't have a mouth. It's an unusual combination. -- Bender Bending Rodriguez

wolf39us

Quote from: "aileron"
Quote from: "wolf39us"At $95 penalty for the first year for those that do NOT get coverage.

The fee is $95 minimum or 1% of household income, so the penalty could run much higher.

QuoteI'll pay the fee personally.

Why would you opt out?  It's a very bad financial and healthcare decision.

Well let's see... Financially if I was to pay a fine of 1% my income I'd be looking at $270 (still no biggy).  Insurance according to the gov site is $180/month on barebones insurance... That's $270 vs $2,160.  

Bad idea financially?  I think not!

I also don't have renters insurance... can something happen to my house and shit hit the fan?  Sure!  I'll take my chances though :p


Forgot to add...  If I come down with something, they can't reject for pre-existing conditions.  I'll call them during the ambulance ride :-)

aileron

Quote from: "wolf39us"Well let's see... Financially if I was to pay a fine of 1% my income I'd be looking at $270 (still no biggy).  Insurance according to the gov site is $180/month on barebones insurance... That's $270 vs $2,160.

...You wrote earlier:

QuoteMy employer insurance would cost about $55/month currently should I opt into it

So the choice is really between paying $270 a year for nothing or paying $660 a year for medical insurance.

QuoteBad idea financially?  I think not!

It's a horrible financial and healthcare decision.  The $390 a year you would pocket comes nowhere near the risk mitigation a health care policy provides.  

QuoteI also don't have renters insurance... can something happen to my house and shit hit the fan?  Sure!  I'll take my chances though :p

First of all, there's an upper limit to how much you will lose without a renter's policy.  Without a healthcare policy, the sky's the limit.  One serious car accident could leave you a million in debt and darken your economic outlook for life.  Even a comparatively minor injury such as a broken arm can cost $10k-$15k.

Second, and more importantly, your healthcare is worth more than all the crap a renter's policy would cover.  

QuoteForgot to add...  If I come down with something, they can't reject for pre-existing conditions.  I'll call them during the ambulance ride :-)

It doesn't work that way.  Even though insurers cannot refuse coverage for pre-existing conditions, in the event of an accident or serious illness by the time you're eligible after signing up for a policy (usually 30 days) you've already racked up the majority of your healthcare costs.
Gentlemen, you can't fight in here! This is the War Room! -- President Merkin Muffley

My mom was a religious fundamentalist. Plus, she didn't have a mouth. It's an unusual combination. -- Bender Bending Rodriguez

Aroura33

Quote from: "wolf39us"
Quote from: "aileron"
Quote from: "wolf39us"At $95 penalty for the first year for those that do NOT get coverage.

The fee is $95 minimum or 1% of household income, so the penalty could run much higher.

QuoteI'll pay the fee personally.

Why would you opt out?  It's a very bad financial and healthcare decision.

Well let's see... Financially if I was to pay a fine of 1% my income I'd be looking at $270 (still no biggy).  Insurance according to the gov site is $180/month on barebones insurance... That's $270 vs $2,160.  

Bad idea financially?  I think not!

I also don't have renters insurance... can something happen to my house and shit hit the fan?  Sure!  I'll take my chances though :p


Forgot to add...  If I come down with something, they can't reject for pre-existing conditions.  I'll call them during the ambulance ride :-)
Why on EARTH would you not take your employers $55 a month health insurance coverage?

Certainly, if you are comparing that to the ACT prices, yes, it goes up, but you don't need the ACT one, you can GET health insurance through your employer for what one nice dinner out costs!  Makes no sense, I don't get it at all.

For the millions of people who are unemployed, underemployed, or employed without health benefits, ACT drastically, and I do mean DRASTICALLY reduces the monthly cost of health insurance.  For most young people, too, it will go down 50% or more, when compared to buying it on the open market.  
Getting it through your employer and comparing that price is apples and oranges.
And as I understand it, all studies show that prices will continue to drop for some years after this takes effect, as the market becomes more competitive.

Opting out of health insurance when you have it available to you for what many would kill for is just...it boggles my mind.  You are in good health now, just wait.  That won't last forever, and you are risking everything on being young and healthy forever.  I got very very sick out of the blue at age 28.  The bills I racked up, the misery I went through, I wouldn't wish that on anyone. But hey, it's your life.
"A life is like a garden. Perfect moments can be had, but not preserved, except in memory.  LLAP"
Leonard Nimoy

LikelyToBreak

wolf39us, I pretty much agree with Aroura33 and aileron pretty much.  Unexpected healthcare costs are the number one reason for bankruptcy.  Unexpected means out of the blue, who would have ever guessed, I didn't have a clue, what the hell is this really happening, and however else you want to think of a big unpleasant surprise.  I had planned to work until they took my dead body out of the factory I worked at, then I became too sick to work.  Point being, things don't always go as planned.

Aroura33 wrote in part.
QuoteAnd as I understand it, all studies show that prices will continue to drop for some years after this takes effect, as the market becomes more competitive.
With all due respects, "all studies" is another way of saying, "the experts best guesses are."  I'll believe it when I see it.  I've seen too many experts hump the pooch in my day to entirely trust them.  Especially when they are making projections for political reasons.

AllPurposeAtheist

Funny, I was involved in a pretty bad car wreck once where the passenger door landed in the drivers seat with me driving. I was fairly certain I was dying, but in a strange twist I survived, but received a broken jaw in 3 places, one being a compound fracture and in the ambulance I never once thought to call healthcare.gov or the toll free number to enroll. Of course that was around 1985, but still...even had it been yesterday I seriously doubt the guy in the ambulance could have understood me saying 'ahh obanacar.. ah fogot oo sin uhh...'
Think about it Wolf.. Shit happening is pretty unpredictable ..
All hail my new signature!

Admit it. You're secretly green with envy.