So the Exchange is broken – let’s go to the individual insurance companies and ask for a quote.\u00a0\u00a0 I know now from listening to the WFAE-FM show this morning that the purpose of healthcare.gov is to funnel people through that think they want “help” from Federal Government to pay for the premiums.\u00a0\u00a0 You can still go directly to the insurance company to apply for a policy (with guaranteed issue and no rating surcharge) – but just not get the subsidy set up through the mess that isn’t working.\u00a0\u00a0\u00a0 The subsidy is only a prepayment of the tax credit you may get when you file your 2014 taxes in 2015 – your insurance company doesn’t even need to be involved.<\/p>\n
North Carolina has only two companies in the exchange – Blue Cross\/Shield and Coventry.\u00a0\u00a0 Conventry doesn’t offer policies in the entire state (they don’t cover the coastal plains where people are mostly poor and black).\u00a0\u00a0 I asked Conventry for an online quote and was informed I would have to call the 800 number to get\u00a0 a quote for 2014.<\/p>\n
BC\/BS did give me an online quote with a variety of options, ranging from about $500\/month to $750 – the bronze option has basically a $5,700 deductible – they pay nothing until I’ve paid the entire out of pocket deductible.\u00a0\u00a0\u00a0 Anything beyond that is 100% covered (except the things that aren’t covered!).\u00a0\u00a0 That’s less than I was paying in Connecticut and similar to what I have now in the HIPAA ICHIP plan.<\/p>\n
(So where do poor people get the $5700 to pay the deductible?)<\/p>\n
Illinois has more competition<\/p>\n
BCBS of IL is offering me lower prices than NC – the low end plans with the $5k deductible are around $320\/month…\u00a0 the platinum plan with low copays and no annual deductible are around $750.<\/p>\n
If I go to the wonderful GetCoveredIllinois.Gov web site – after answering all of the qualifying questions that HealthCare.gov is going to ask again, all the web site does is direct me to the totally broken healthcare.gov web site.<\/p>\n
Coventry of Illinois – after giving my zipcode and DOB, declares there are no plans available.\u00a0 I conclude they have no plans, but are just fishing for leads – or are generally backing away from offering coverage.<\/p>\n
I know from reporting that Humana and Kaiser are also offering coverage.<\/p>\n
Kaiser claims to not offer coverage in my zip code (I’m in the City of Chicago, remember)<\/p>\n
Humana (who turned me down cold for an individual policy a year ago) is showing me rates based on the ACA framework…<\/p>\n
With a bronze policy with a $6,350 annual deductible (I pay that before they pay the first cent), the monthly cost is $354.10.\u00a0\u00a0\u00a0\u00a0 $6350\/12 = $529 a month – so you are betting you won’t get sick.<\/p>\n
If I go for a $4600 deductible silver plan, the premium rises to $525.24\u00a0\u00a0\u00a0 (12*(525-354)= $2052 more in premiums to lower the deductible by $1750.<\/p>\n
Go with Gold and a $2,500 deductible, and the premium is $604.78\u00a0\u00a0 (12*(604.78-354.10)) = $3008 in monthly premiums to lower the deductible by $3850<\/p>\n
If you’re one of those rich people who want only the best (or want you employer to buy it),\u00a0 the platinum plan has a $1000 deductible with a $1,500 annual maximum out of pocket.\u00a0\u00a0 You have a 20% copay on most things.\u00a0\u00a0 The monthly premium is $681.85\u00a0\u00a0 (I’m a 57 year old male non-smoker if you’re playing along at home).\u00a0\u00a0 The absolute best plan that is not an HMO\/PPO and lets me go out of network is $916 a month.<\/p>\n
Health care is 17% of GDP in the United States.\u00a0\u00a0\u00a0 If I’m paying $7k a year, that equates to roughly $42k in income, which is roughly where the ACA cuts off the subsidy.<\/p>\n
Welcome to your “Free Obamacare”<\/p>\n","protected":false},"excerpt":{"rendered":"
So the Exchange is broken – let’s go to the individual insurance companies and ask for a quote.\u00a0\u00a0 I know now from listening to the WFAE-FM show this morning that the purpose of healthcare.gov is to funnel people through that … Continue reading