Affordable Care Act Arrived In 2008
Obamacare came into being in 2008 and has grown considerably since with varying degree of both success and failure.
The success is simply that more Americans are now insured than ever before. It’s the quality of the care and the viability of the insurance that is in question. Tackling both in this blog.
Quality of Care- Since Obamacare came into existence, more Americans are insured than ever before but what are they getting? The healthcare system is strained by too many people seeking care and not enough doctors to handle the sheer volume. Many Americans are on Medicaid, and many are on the health exchanges whether it be a state-based or national exchange. The insurance monthly premiums have increased significantly and continue to go up annually. The issue is the real cost of healthcare in America is very high.
Before Obamacare insurance was less expensive and the annual deductibles and maximums out of pocket were much lower. Gone are the $1000 deductible, $3000 maximum out of pocket. What we have now are very high deductibles in the $8900 range with maximums out of pocket being $8900 or higher. So, insurance is now catastrophic coverage meaning the deductible must be met before insurance kicks in. You pay the contracted rate the insurance companies have negotiated with the providers or facilities until you meet your annual deductible. Then the insurance pays the remainder of the year’s insurance claims, and the insured pays no more claims.
The other cost of Obamacare is the cost of the subsidies being paid for Americans who cannot afford the premiums. 53% of all Americans are currently getting their monthly premiums subsidized by the federal government or in state-based exchanges, by the state itself. As the premiums rise, so do the subsidies.
Looking at it in another way, those on Medicare are paying the full premium and, in some cases, a higher monthly premium for Medicare due to their income. So, the more you make, the more it costs you monthly. There is no discount or subsidy unless you meet the state Medicaid requirements. Thus, those on Medicare are paying the entire amount, and each year the premiums are increased. Those on Social Security have the monthly Medicare Part B premiums deducted from the payments thus reducing what they receive as a benefit. So, seniors pay full price, and underage pay less because their premiums are subsidized. Not quite fair and equitable for seniors.
There doesn’t appear to be a solution, but the left wants socialized medicine where the government pays the premiums thus giving them the right to decide if that surgery is necessary. It also means they can deny services without recourse. It also and more importantly takes the decisions about your health out of the doctor and your hands and into the government’s hands.
Since the government has never run anything and makes a profit, what makes you think managing your healthcare needs will be a good thing? What I see is the government takeover of healthcare means delays in getting services and large waiting times for services. It also means some nameless bureaucrat will decide if that surgery you want is viable, and they could deny the procedure.
If you don’t believe me just look north to Canada and ask why Canadians come to the US for medical services. It’s because of long wait times for surgeries and other medical procedures. That’s why Canadians come to the US for medical treatment. In Canada waiting for an MRI can be several months so they come south to the US for services.
Since nothing in this world is free, national healthcare will have a price that is unaffordable for most Americans and the wait times will increase significantly, as more people are now covered.
For this blogger, it’s very simple. I don’t want any government personnel making my medical decisions. I want to make them.
Part of the issue is that Congress is not on Medicare, thus they have no stake in the game so it’s not their problem. They control the purse strings which raises the issue with no stock in the game. How will they decide what makes sense or not? They will probably listen to the insurance company lobby and follow their directions. This is a dangerous scenario that we are heading into, and we need a champion who will tell the truth about socialized medicine so we can find alternatives. I hope we can do that.
I hope this information is useful and if anyone has questions, please contact me via phone or email and I will respond quickly.
Also, if you need Medicare information, take a look at Medicare 2023 Information.
The Barend Agency Inc.
Len Barend, Broker