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Our plans is already compliant with ACA and we still have it. I think I remember reading that over 95% of plans in Massachusetts are already compliant. I'm sure a lot of press time will be focused on those few examples where employers make the selfish decision and stop providing health insurance, but complying with standards like this didn't cause that many cases of that here in Massachusetts.
This is basically my fear. I mean even if the plan goes from $30 to $100 but otherwise stays the same, I would be OK with it...just another ding in the budget. My insurance is pretty good for me and I'm afraid the exchanges will charge too much for what I have. I mean my company forks over like 90% of the premium.
Health care purchased through the exchange is subsidized for those who make up to 400% of the Federal Poverty Level so the most anyone up to that level will pay is 9.5% of their gross income. Here's the table:
Income Premium Limit
Up to 133% FPL 2% of income
133 - 150% FPL 3 - 4% of income
150 - 200% FPL 4 - 6.3% of income
200 - 250% FPL 6.3 - 8.05% of income
250 - 300% FPL 8.05 - 9.5% of income
350 - 400% FPL 9.5% of income
So it should be affordable for everyone in that income bracket. The downside is that the folks who can now comfortably afford their insurance coverage without the subsidy will be forced to accept the subsidy in order to continue to afford insurance, and of course the subsidy will come from the income of other people. This is what sticks in my craw.
I don't have any problem with my tax payments going that way. After all, I'm earning more than 400% FPL from the economy that has failed those folks who earn so little income. It's not like they're not the same class of human as I am, and it's not like we're talking about them getting a discount on a luxury cruise - rather they're getting a subsidy for something utterly basic, health care. Us folks who are earning more aren't more human - aren't more worthy of the basics of life. Since we're just talking about the basics, the subsidy is nothing more than a reflection of human decency injected into what, given the fact that there are people within the system who cannot afford the basics, is a corrupted system.
I don't have any problem with my tax payments going that way. After all, I'm earning more than 400% FPL from the economy that has failed those folks who earn so little income. It's not like they're not the same class of human as I am, and it's not like we're talking about them getting a discount on a luxury cruise - rather they're getting a subsidy for something utterly basic, health care. Us folks who are earning more aren't more human - aren't more worthy of the basics of life. Since we're just talking about the basics, the subsidy is nothing more than a reflection of human decency injected into what, given the fact that there are people within the system who cannot afford the basics, is a corrupted system.
But what you're missing is that you won't be helping pay the insurance premiums, you will be paying for the bureaucracy that manages the exchanges.
Today my insurance costs $140 a month on the open market, which I can afford. Under the ACA the cost of my insurance will go to $600 a month which I can't afford, but because of the subsidies I will still pay roughly $140 a month.
the first part last July enabled me, a hard working long term employed(but in a small business) health insurance without the 5 riders I had previously. Call it names and entitlement if you want...but I worked probably just as hard if not harder than many people who worked for big business or the government. I am happy happy happy!
400% the federal poverty level isn't that much. For a family of 2, it is about $60k. My husband and I won't qualify for any subsidy. Even if we did, 9.5% of $60k is $5700, more than 2.5 times what we are paying now for health insurance. Without the subsidy, I have no idea how much we would be paying.
When we didn't have insurance through his work, we were under a high deductible plan with Blue Cross, which was about $250/month, but didn't cover ANYTHING unless we met our $5000 deductible.
Up to 133% FPL 2% of income
133 - 150% FPL 3 - 4% of income
150 - 200% FPL 4 - 6.3% of income
200 - 250% FPL 6.3 - 8.05% of income
250 - 300% FPL 8.05 - 9.5% of income
350 - 400% FPL 9.5% of income
Hi duster1979--
I wonder does the 9.5% limit apply to incomes above 4x the federal poverty line? For a single person, 400% is something like $45,000 per year. That isn't a lot of money in a high COL area. If there's no subsidy, I'd hate to see health insurance premiums shoot to 20% or more of income (which would easily happen if they had preexisting conditions but could not be denied) simply because somebody made a few dollars above 400% of the poverty line.
As well it shouldn't be. The subsidies should be reserved for those who actually need the assistance in order to afford this basic essential of life.
I'm just saying that if my husband's company decides to drop their policies because of this change, my BEST case scenerio is that I get a LOT worse insurance for more than twice the price I'm paying now (going from $180/month to $475/month). Not a great prospect. If I don't qualify for subsidies, I could end up paying 3 or 4 times my current price. I could get high deductible insurance before on my own for $250-300 a month. Apparantly that will not be an option anymore.
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