Please excuse me while I step up to my soap box: I would like to explain ACA to yall! First, everyone or nearly everyone qualifies for the tax credits. The tax credits are simple semantics because while you may save a few dollars on your monthly premium, your deductible is going to give you a financial heart attack. The only people who are going to benefit from ACA are those living on or below the poverty level, according to their ESTIMATED tax return for 2014. Thats right! so if by chance your actual tax return puts you above the poverty line, guess what! You have to back-pay on your health insurance plan. Secondly, the fun stuff: The plan that I qualify gives me $500 in tax credits so my monthly premium would be $400. Wow! What a savings as I would have paid $900 a month but now only have to pay $400. Well dear friends this is where Mr. Barack Obama President thinks our brains shut off. And truth be told, some people choose to turn their brains off here and believe that ACA is wonderful. But Im a detail-oriented person so I must push forward. Now, the deductible. Deductibles are a funny thing, you have to meet the deductible before your health insurance plan picks up any health care costs you may incur. With an estimated income of $30,000 ACA plans vary, but your deductible will be around $13,000. So you are now paying $400/month(12) + $13,000 deductible = $17,800. If you understand me up to this point, raise your hand. Ok so now you understand that it doesnt matter what your health insurance plan covers or doesnt cover or if you now have health insurance because previously youve been denied coverage due to pre-existing health issues, such as diabetes. Because... are you ready... here it comes... you have to pay out of pocket nearly $18,000 BEFORE you can access your health insurance benefits. So here is a scenario: You go to the doctor (office visit $80) Doctor orders blood work ($200) Doctor sends you for an MRI ($1500) Follow-up doctor visit ($80) More blood work ($300) 2nd follow up doctor visit ($80) You have to pay all these costs, all $2,240 OUT OF POCKET. Dont forget you still have to pay your $400 monthly premium, so in one month you now have to pay $2,640. All without the benefit of health insurance because you have to meet your $13,000 deductible BEFORE your health insurance picks up any costs. Understand now Meet the Press???
Posted on: Sun, 16 Mar 2014 15:37:48 +0000
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