Michael 7 minutes ago 0 6 Good point about affordability. Here in NJ, after three months of trying to get the application accepted by the healthcare site, I chose a gold plan. The bronze and silver plans were almost as expensive, with horrible coverage, unless you have a $500,000 illness. So, I went to the last page, chose a dental plan too, and the total monthly premium was $1400.00. My COBRA coverage was north of $1600.00/mo. when I dropped it in Oct.2013. So, this gold plan was no bargain. Curious, I called the site and asked where the subsidized tax credits were applied. She responded that the figure you see is the subsidized rate. That means the real rate is probably closer to an astronomical $1800/mo.--way unaffordable. The cheapest bronze plan with no dental was $950.00/mo. and coverage was horrible. If I still had a full time job at say $42000.00/yr. gross, I would need free cash flow of $16,800 per year to pay the premiums. Thats 40% of my gross wages- no way is that sustainable. I told the woman on the phone I see the deal now. The politicians in both parties let the insurance companies dictate what price they would charge-in return for taking all comers in the state. That way politicians can say everyone qualifies, no one denied. The insurance companies know the high prices will knock out 60% of the enrollees, which, keeps them from shelling out for medical care. Everyone wins except the consumer. This is not a true health plan.
Posted on: Thu, 06 Mar 2014 02:10:59 +0000
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