Skip to comments.QUESTION: What if you buy 2014 Obamacare-compliant insurance and then Obamacare implodes?
Posted on 10/22/2013 6:20:34 PM PDT by MrChips
If you buy 2014 insurance and then Obamacare implodes, will your O-care compliant policy still be good? Theoretically, if you are a single male, might they not drop the pregnancy and women's health portions of one's policy and lower the price? Would one have to go back to square one? The thing is, it is all probably going to fail. Where does that leave people who buy in?
Good luck getting one red cent back.
If I could flap my arms and fly, how high could I go?
Government programs that “implode” only get worse. And ACA is the worst of that type ever conceived.
SOL comes to mind.
Medicare Part B was $3 a month when it started...a hour's wages. Today it is $105 a month.
This is nothing more than another Medicare & Medicaid program. The catch is...the look back attached to Medicare & Medicaid goes away.
There is no way to exclude knowledge of your assets if you enroll in the government program.
Possibly, it is like the Medicare Advantage plans. They are ‘contracts’ on a yearly basis.
If you do sign up for an Obamacare plan, the insurer may be contractually obligated to provide the policy coverage for the year.
The purpose of Ocare is NOT to provide health coverage and care.
The program was designed for the express purpose of utterly
destroying the private healthcare system. Health care in America
is a trillion dollar business and nearly ALL of that money is spent
in the private sector. Ocare will destroy the entire private structure
in order to drive all that $$$ into the government arena SO THEY CAN
STEAL IT. It’s just that simple. The program was never designed or
intended to provide healthcare for people. It was intended to facilitate
the governments theft of money they could not access in the private
They have your SS number, your address, your phone number, your email
address, you bank account numbers, etc. And with that information, they
can cross reference just about anything, such as your party affiliation, etc.
buy a bottle of aspirin and an package of band aids.
This is why it had to be killed or it will never go away. Too many people would get screwed. It also convinces me that establishment Republicans want to keep it because they are letting its tentacles take hold. Then it will be their turn to milk it.
I was just talking about this today with someone. What if you buy it and pay out the nose for insurance then it goes away in a year: Thanks for the $10,000 bill and lost hours!!
You get a bag and you get to hold it.
I’d like to think Pelosi knows that answer but being 0bamacare doesn’t affect her she doesn’t have a clue, and she never did.
If the law is found unconstitutional there may be lawsuits against Insurance companies who sold Obamacare, I’m not sure.
Employer based coverage at least probably could not be renegotiated before the end of the year.
“Leonard: What would you be if you were attached to another object by an inclined plane, wrapped helically around an axis?”
I’d imagine that the private companies would implode at the same time leaving everyone SOL. The government could the magnanimously step in and take over the private companies to “save” them. Stakeholders beware, you likely will lose everything.
At that point doctors and hospitals will only be taking gold and hard assets to see you anyway.
Well, that assumes you bought insurance through their website. One can buy it directly from insurance companies.
Just think about it ...
Will companies that just dropped healthcare to force their employees into the exchanges be required to re-instate the plans? If so, will their insurers be required to give the companies the same rates? If not, will the employees have to make up the difference?
How about people tossed off of private plans that did not meet ACA guidelines? Do they get their old plans back? Will their rates be the same? If not, will the government pick up the tab since they fu*ked it up in the first place?
And about a hundred other things ...
“The program was designed for the express purpose of utterly
destroying the private healthcare system. Health care in America is a trillion dollar business and nearly ALL of that money is spent in the private sector.”
I think you are confusing health insurance and health care...
The health insurance system is corrupt and needs to go. It is most of the problem, be it government or commercial.
If health insurance went away it would be a good thing. It does nothing more than to suck money out of the system.
So if I have an emergency health problem and go to the ER, which could cost $10k or I have to have a major operation costing tens of thousands of dollars, how do you propose I pay for it?
Should I get rid of my car insurance or homeowner's policies as well?
“how do you propose I pay for it?”
With credit... You need to realize that the only reason hospital stays are $5000 a night is because of government and commercial insurance.
You can stay in a five star hotel for $200.
Yeah. And I’m sure those insurance companies won’t share any information
about direct enrollments with the Federal Govt.
BTW, I have a bridge you might be interested in buying.
the insurer may be contractually obligated to provide the policy coverage for the year.”
At this stage of the game I wouldn’t count on anyone being contractually obligated to provide anything. If I was going to sign up for anything I wouldn’t even think about doing it now - pay the fine the first year and see how it all shakes out. Pray to God that you will be healthy, use one of the free standing clinics if you absolutely must and figure out some way to pay everything out of pocket, at least until year two.
you must pay for the service before you find out if the service will exist
the fact that the premiums are 4-5x normal... or the annual deductible exceeds the total cost of healthcare you’ve received in your life so far... you *must* pay for it
because some disbarred lawyer from Chicago and a group of 4 martini functional alcoholics say so
yea.... I’m right on that
And again, using your logic, why have car insurance or homeowner's insurance? The idea of eliminating health insurance is ludicrous. Everyone should have the option of coverage.
With credit... You need to realize that the only reason hospital stays are $5000 a night is because of government and commercial insurance.
Do you even have an idea of the overhead needed to operate a hospital? Your estimate of $500 a night is ridiculous.
It is important to note that these figures are only an estimate of expenses incurred by the hospital to provide a day of inpatient care and are not a substitute for either actual charges or reimbursement for care provided.
State/local government hospitals $1,625
Non-profit hospitals $2,025
For-profit hospitals $1,629
“This is why it had to be killed or it will never go away. Too many people would get screwed.”
Dead on. Will need to fix it, with 20,000 more pages of regs and, oh, $1 Trillion. Progressives love problems only experts can fix.
And, a little spoken about but very important clause: if your employer already offers “health insurance benefits”, and you decline them, you do not qualify for any tax subsidies on the open exchanges.
Nice little deal breaker for the vast majority of lower income level working class, right?
Just say no, now.
Or cede the feds an additional 20% of your earned income, for the rest of your life.
That is the amount they think everyone who earns less than 100K a year needs to pay them for access to health care.
Consider it a union due.
If you are a registered Republican, your rates may be higher.....
I see you’ve sampled to KoolAid.
The market will never charge more that the market will bear. If there were no Insurance or Government support, the hospitals would be forced to charge what their customers could afford. By putting deep pockets into the mix, the cost goes up.
As for car insurance... There is a risk to being on the road. If you want to drive a 30K automobile down the highway and pass within feet another vehicle at a closing speed of 110 mph, good for you. You know the risk to your car and your life. I don’t own a $30K car, why should I share your risk?
Health insurance worked just fine until the anchor-babies’ mamas started coming over and flooding the emergency rooms. Then flooding all the other caregivers.
In fact, car insurance wasn’t even required in TX until the illegals kept causing damage and the insurance guys got liability laws passed.
I’m aware of the possibility that the fine could be substantial. I think that everyone is going to have to do a lot of due diligence before they push the buy button because Obama already gave the Reset button to Putin. Problem is that there’s not enough hard information out there right now on which to base a decision. Although March sounds like a long way off, it’s really not that far.
My concern is that people will panic and make a decision before they absolutely have to. The uncertainty of not having insurance coverage, particularly for someone with a family to look after, can cause a whole lot of stress. I would rather face the possibility of paying a fine of several hundred dollars than find myself locked in something for 12 months that wasn’t working and that ended up being something I couldn’t afford.
I do think that an extraordinary amount of patience and prayer is going to be necessary and see how all of this shakes out.
There are certain fixed overhead costs that aren't driven by the market, e.g., electricity, water, maintenance costs, etc. And what kind of hospitals will we have if we depend on patients to pay full costs? Who pays for the MRI machines, the years of medical school, etc. And will hospital ERs still be expected by law to treat people regardless of their ability to pay?
As for car insurance... There is a risk to being on the road. If you want to drive a 30K automobile down the highway and pass within feet another vehicle at a closing speed of 110 mph, good for you. You know the risk to your car and your life. I dont own a $30K car, why should I share your risk?
Car insurance is meant primarily to protect my assets from you should we have an accident. And you fail to address homeowner's insurance.
I really don't understand your point. Are you saying individuals should not have access to health insurance even if there are companies that are willing to provide it and I have the money to purchase it?
If anyone has drunk the Kool-aid, it is you. You are living in a fantasy world. The reason we have insurance is risk management. The insurer uses a pool of resources and establishes premiums to cover his risks. The person buying the insurance does so to protect his assets. That is the way the marketplace works.
Health care insurance is not the problem as long as the premiums are commensurate with actuarial principles. The intrusion of the government into health care is what is driving up the costs. For example, under Medicare, the individual on average receives three times more in benefits than he contributes into the system. Medicare patients have no incentive to save money on services because they are not paying the bill. Government is the problem, not health insurance.
The problem with Obamacare is that it dictates what services must covered by the insurance. The consumer does not have the ability to tailor a policy to his personal needs and level of risk he is willing to take and the insurance companies are forced to offer only those policies that meet the criteria specified under Obamacare. It is a wealth redistribution system with winners and losers.
” The insurer uses a pool of resources and establishes premiums to cover his risks.”
Actually, no... Most of what insurance is paying for is predictable expenses. Like little Johnny or Susan has a runny nose or a cough. These are things that could and should be budgeted for.
Why don’t we just have food insurance in the event we run out of Cheerios? Or Gas insurance to cover us when our tank is empty.
Homeowners insurance is different in that a person’s house is not likely to burn down.
Insurance should be for the unforseen risk. And I have no problem with that.
You still don't get it. Insurers will ensure anything if they get premiums sufficient to cover their risk. Lloyd's of London will ensure body parts if you pay the appropriate premium. And health care insurance generally does not cover all expenses. It is the reason why they have deductibles and co-pays and lifetime caps. Even Medicare doesn't cover all expenses, which is why 9 of 10 Medicare recipients have Medigap insurance.
Why dont we just have food insurance in the event we run out of Cheerios? Or Gas insurance to cover us when our tank is empty.
If there was a big enough demand for such an insurance and people were willing to pay the premiums as determined by an ensurer, there would be. Do you have triple A coverage?
Homeowners insurance is different in that a persons house is not likely to burn down.
If it is not likely, why have it? One reason is that the mortgage company wants to protect its investment and requires it. And even you owned the house outright, you would still opt for such insurance to protect your investment, wouldn't you? Or would you take a chance because it is "not likely to burn down?
Health care insurance is much like home insurance. You will pay most of the normal maintenance costs, but you want to be protected from the possible big events that could bankrupt you or kill you.
Insurance should be for the unforseen [sic] risk. And I have no problem with that.
That is the main function of insurance. It could also be used for anticipated events, like death. Life insurance is an example.
Well if it explodes chances are you get zip and the govt still has all the access to your bank account and all your personal info and medical records. You are pretty much screwed at that point. :-)
I am well aware of the difference between healthcare and health
insurance. I have been practicing in the field of radiology for decades.
Healthcare and health insurance are so intricately and deeply
intertwined that they are essentially indivisible. Destroy one and
the other dies. Obamacare has as much in the law governing how
medicine is to be practiced as it does about how it’s to be paid for.
I stand by my assessment...the express purpose of Obamacare is
the destruction of the system that has been in place since WWII in
order for the politicians to gain access to the massive amount of
money involved that historically was beyond their reach.
Power is one of the driving forces behind this law but greed is every
bit as much a reason for this abomination.
The problem I have with insurance is that when someone else is paying for something, the price always rises. It’s out of control for almost everything covered by insurance, be it health insurance or car insurance.
And it’s not just the patient that sees it. How much do you suppose hospitals pay for a hospital bed? Is there any reason why a manual wheelchair costs $1500? Get one of those motorized ones and it’s 1/2 the cost of a new car. Why? because insurance pays for them... Nobody cares what they cost.
Well, how long did they manufacture parts for the Edsel?
It's less insurance companies, however, than it is government-sponsored insurance.
Insurance companies have a vital interest in cost-control.
However, if there is government money available in a market, costs will automatically rise until it is totally consumed.
It was not until government entered the healthcare market that healthcare costs started rising faster than the costs in the broader economy.
“Insurance companies have a vital interest in cost-control.”
You may be partially right... But the insurance racket also has a motive to keep medical costs high. The more it costs to treat you, the more demand for their product.
Up to a point, perhaps -- but one that is long past.
On the other side of the coin, no corporation wants to see their product priced beyond the capability of the market to buy it.
“On the other side of the coin, no corporation wants to see their product priced beyond the capability of the market to buy it.”
$5000 a night for a hotel room with a nurse? Three shifts of nurses can be had for $500 a day. A room is less than $85 in my town (right next to the hospital).
They have you by the short hairs when your life is at stake and they know it...
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