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We all need to remember and call this the Obamacare TAX when we speak of it.
Congrats, you are now paying for and subsidizing other peoples Insurance through the additional TAX.
I'm sure you could have used that money to send your kids to college but there are worthless men in
this world who refuse to work and their Baby's Momma needs that money way more than your kids.
From this point forward please call it what it is.
To get the insurance company "negotiated rate" you have to have an insurance policy else you will be billed 100% for the service. To pay a high deductible, you can use a credit card and pay it off over time. Insurance is for catestrophic events, not day-to-day treatment.
Insurance is the REASON why costs are so friggen high to begin with, and thus why they have "negotiated" rates.
New benefits and protections have led to higher deductibles. The bastard ACA has some great protections but it comes at a cost. There is now a cap on deductibles ($12,500 per family/year) - but that's still about 25% of the median family income. In the 'appendicitis' post someone was claiming that a $11,000 deductible/co-pay for an appendectomy was very reasonable.
But a $12,500 deductible is NOT 25% of the median family income.
Deductibles are paid with after-tax dollars.
Median family income is measured in pre-tax dollars.
Factor in $500 a month in premiums, and you are looking at a potential exposure of $18,500 in net dollars if you meet your deductible in a calendar year. Try pulling that off on a $50k income, while trying to save 5% into a 401k and dealing with an income tax rate of 15-19% or higher. Better hope the house a/c doesn't choose THAT year to blow up.
Obama thought it was such a tragedy that people had to declare bankruptcy because they couldn't afford health insurance. Now, those same people could be in the same position again -- BECAUSE OF health insurance.
But a $12,500 deductible is NOT 25% of the median family income.
Deductibles are paid with after-tax dollars.
Median family income is measured in pre-tax dollars.
Factor in $500 a month in premiums, and you are looking at a potential exposure of $18,500 in net dollars if you meet your deductible in a calendar year. Try pulling that off on a $50k income, while trying to save 5% into a 401k and dealing with an income tax rate of 15-19% or higher. Better hope the house a/c doesn't choose THAT year to blow up.
Obama thought it was such a tragedy that people had to declare bankruptcy because they couldn't afford health insurance. Now, those same people could be in the same position again -- BECAUSE OF health insurance.
At $500 per month and $50K income, the insurance premiums alone would push the costs over the 10% threshold to deduct medical expenses for your hypothetical family. So the deductibles would, in fact, be tax exempt.
My state has dozens of $0 deductibles with out of pocket as low as $3000 per family. They cost more, of course, because low deductibles simply mean that you are paying the copays and coinsurance up front. They are not a good deal for the healthy and not for the sick either who have the same stop loss limit either way. They might be a good choice for someone not so healthy and not so sick. You have to pencil it out.
Congratulations. Nowhere can I buy that type of coverage at a decent price off the Obamacare Tax website.
You must be one of the young ones getting a very cheap rate.
Young at heart, maybe.
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