Premiums Unveiled For Health Overhaul Plans

[Orruar]

Originally Posted by Tiddlywinks [You must be logged in to view images. Log in or Register.]

Nobody forces people to buy this. The tax "penalty" for not purchasing a plan is typically much less than the health insurance premiums are. The tax penalty ends up being, I believe, a max of 1%-2.5% of annual income, whereas the premiums are loosly based around 4-8% of an anual income.

Is this kind of logic the same as saying income taxes are voluntary, because you can always decide not to pay them and just go to jail and then pay fines instead?

I have health insurance through my job that only costs me like 3% of my paycheck, but even I have thought about just dropping it altogether, as I'm young, healthy, and take good care of my health.

I really just want a plan that covers disastrous and crazy expensive things like getting hit by a car. You know, how every other form of insurance is structured. Unfortunately, Obamacare just adds to the various mandates of little piddly shit that insurance is now forced to cover.

Can you imagine how expensive car insurance would be if it was mandated to cover gasoline, window tinting, and every knick and ding? Not only would you pay more as the insurance company would take a little extra profit on every gallon of gas, but everyone would be going in for every minor little car problem and driving up the cost for everyone.

Seriously, make it legal and tax deductible to hold an insurance plan that only covers the super-rare and insanely expensive events. If I break an arm and need to pay a few hundred $ out of pocket, I'm cool with that.

You know why such plans are not legal? Because then they couldn't fuck over us young people to pay for all the bad health decisions made by the older generations.

[Tiddlywinks]

Originally Posted by Orruar [You must be logged in to view images. Log in or Register.]

Is this kind of logic the same as saying income taxes are voluntary, because you can always decide not to pay them and just go to jail and then pay fines instead?

I have health insurance through my job that only costs me like 3% of my paycheck, but even I have thought about just dropping it altogether, as I'm young, healthy, and take good care of my health.

I really just want a plan that covers disastrous and crazy expensive things like getting hit by a car. You know, how every other form of insurance is structured. Unfortunately, Obamacare just adds to the various mandates of little piddly shit that insurance is now forced to cover.

Can you imagine how expensive car insurance would be if it was mandated to cover gasoline, window tinting, and every knick and ding? Not only would you pay more as the insurance company would take a little extra profit on every gallon of gas, but everyone would be going in for every minor little car problem and driving up the cost for everyone.

Seriously, make it legal and tax deductible to hold an insurance plan that only covers the super-rare and insanely expensive events. If I break an arm and need to pay a few hundred $ out of pocket, I'm cool with that.

You know why such plans are not legal? Because then they couldn't fuck over us young people to pay for all the bad health decisions made by the older generations.

I mean, these already are going to exist. They're referred to as "catastrophic plans". Basically you pay a much lower amount, and instead you get a higher deductible, but still get preventative care, and coverage in case of some crazy high medical expense.

http://obamacarefacts.com/obamacare-...ance-rules.php

Catastrophic plans have lower premiums, protect against high out-of-pocket costs, and cover recommended preventive services without cost sharing—providing affordable individual coverage options for young adults and people for whom coverage would otherwise be unaffordable.

http://www.cnn.com/2013/09/26/health...ent/?hpt=he_c1

Catastrophic insurance covers three doctor visits per year at no cost and preventive care such as screenings and vaccines. This plan will carry a higher deductible.
All plans bought through the exchanges must offer the same coverage benefits. All offer free preventive care. Nearly all cap out-of-pocket costs to $6,350 and $12,700 per family. No one can be turned away. No one will be penalized because of their gender (women often paid more in the old insurance system). Only smokers may be penalized in some plans and some older people may pay more.

They're essentially targeted at young individuals who don't need to spend thousands of dollars a year for health insurance they may, or most likely will NOT need to use.

A good site with comparison info to the other lowest plan (the bronze tier) can be found here:

http://health.usnews.com/health-news...alth-insurance

[Orruar]

Originally Posted by Tiddlywinks [You must be logged in to view images. Log in or Register.]

"
Catastrophic insurance covers three doctor visits per year at no cost and preventive care such as screenings and vaccines. This plan will carry a higher deductible.
All plans bought through the exchanges must offer the same coverage benefits. All offer free preventive care. Nearly all cap out-of-pocket costs to $6,350 and $12,700 per family. No one can be turned away. No one will be penalized because of their gender (women often paid more in the old insurance system). Only smokers may be penalized in some plans and some older people may pay more.
"

They're essentially targeted at young individuals who don't need to spend thousands of dollars a year for health insurance they may, or most likely will NOT need to use.

A good site with comparison info to the other lowest plan (the bronze tier) can be found here:

http://health.usnews.com/health-news...alth-insurance

Except that covering 3 doctors visits per year is not what I'd call catastrophic. Also, they are required to cover a whole range of things related to maternity and pediatric care that I don't want in a health insurance plan as it only increases premiums with no benefit for me. I'm basically paying for other peoples' kids at that point. Real catastrophic coverage plans were the norm back in the day, but in the past few decades, they have been slowly regulated out of existence. And due to the various tax benefits of receiving insurance through my employer, the insurance closest to catastrophic coverage is not even competitive with my more luxurious plan. I'm paying for it in hidden costs (reduced compensation) that I cannot recoup by switching to one of the Obamacare plans.

[Tiddlywinks]

Originally Posted by Orruar [You must be logged in to view images. Log in or Register.]

Except that covering 3 doctors visits per year is not what I'd call catastrophic. Also, they are required to cover a whole range of things related to maternity and pediatric care that I don't want in a health insurance plan as it only increases premiums with no benefit for me. I'm basically paying for other peoples' kids at that point. Real catastrophic coverage plans were the norm back in the day, but in the past few decades, they have been slowly regulated out of existence. And due to the various tax benefits of receiving insurance through my employer, the insurance closest to catastrophic coverage is not even competitive with my more luxurious plan. I'm paying for it in hidden costs (reduced compensation) that I cannot recoup by switching to one of the Obamacare plans.

The catastropic plans also cap a max out of pocket expenses per year. Meaning that anything truly catastrophic is going to be covered at that point.

I mean, I don't want to pay extra for pregnancy covereage or shit I don't need either. Nobody does, but that's just the way it is. You don't get to pick and choose every little thing you want in your coverage. If you could it would probably be even more expensive. Again, I disagree with the hidden cost factor, because I highly doubt someone like you or I would see much of what our employers are currently paying wind up in our direct compensation if they didn't have to pay it.

[Tiddlywinks]

For example, the tax "penalty" for a 27 year old single individual making $25,000 anually only comes out to like $625 per year.

This website generally has answered any question I've had regarding the process. Here's a link to the tax penalty for those who chose not to be covered bit: http://obamacarefacts.com/obamacare-tax-penalty.php

[runlvlzero]

Originally Posted by Tiddlywinks [You must be logged in to view images. Log in or Register.]

For example, the tax "penalty" for a 27 year old single individual making $25,000 anually only comes out to like $625 per year.

This website generally has answered any question I've had regarding the process. Here's a link to the tax penalty for those who chose not to be covered bit: http://obamacarefacts.com/obamacare-tax-penalty.php

I heard that the tax penalty keeps increasing every year you don't purchase. Can anyone clarify?

[Tiddlywinks]

Unless I'm grossly missing something, from a taxpayer perspective it's pretty simple really.

If you are currently uninsured, starting on October 1st of this year, in many states you will be able to shop the "Health Insurance Marketplace" where you will be able to see competing government (public) and corporate (private) plans and premiums and pick one that suits you.

These plans are typically targeted to cost an individual between 5%-8% of their anual income. In the event that an individual cannot get insurance within that percentile of their anual income range, or if they meet any of the other previously posted exemption requirements then they can file for exemption. If granted they can essentially ignore that the system exists entirely.

In the event someone elects not to receive or participate then they will have a tax "penalty" applied anually, not to 1% of their income or $95 in 2014, whichever value is larger. In 2015 that goes up to $325 or 2%, and by 2016 to $695 or 2.5%. By 2017 tax penalty will increase by the rate of inflation going forward, or 2.5% of your Income.

I think the reason it is staggered like this for 3 years until it begins to match inflation is to give people time (seriously people take 3 years to catch on to shit?) to get aboard, but I could be wrong.

That's basically it as far as purchasing a premium or not is concerned.

Personally I think the lower level coverages blow dick, and thankfully my employer offers me much better for only $1500 anually. Carrying health coverage is also a requirement for employment so I don't care all too much. As a (relatively) fit, young individual, if I did not receive coverage through work I would probably just man up and pay the penalties. As it is I'm already paying less than 2.5% of my anual income for better health insurance anyway, so whatever.

[runlvlzero]

Originally Posted by Tiddlywinks [You must be logged in to view images. Log in or Register.]

Unless I'm grossly missing something, from a taxpayer perspective it's pretty simple really.

If you are currently uninsured, starting on October 1st of this year, in many states you will be able to shop the "Health Insurance Marketplace" where you will be able to see competing government (public) and corporate (private) plans and premiums and pick one that suits you.

These plans are typically targeted to cost an individual between 5%-8% of their anual income. In the event that an individual cannot get insurance within that percentile of their anual income range, or if they meet any of the other previously posted exemption requirements then they can file for exemption. If granted they can essentially ignore that the system exists entirely.

In the event someone elects not to receive or participate then they will have a tax "penalty" applied anually, not to 1% of their income or $95 in 2014, whichever value is larger. In 2015 that goes up to $325 or 2%, and by 2016 to $695 or 2.5%. By 2017 tax penalty will increase by the rate of inflation going forward, or 2.5% of your Income.

I think the reason it is staggered like this for 3 years until it begins to match inflation is to give people time (seriously people take 3 years to catch on to shit?) to get aboard, but I could be wrong.

That's basically it as far as purchasing a premium or not is concerned.

Personally I think the lower level coverages blow dick, and thankfully my employer offers me much better for only $1500 anually. Carrying health coverage is also a requirement for employment so I don't care all too much. As a (relatively) fit, young individual, if I did not receive coverage through work I would probably just man up and pay the penalties. As it is I'm already paying less than 2.5% of my anual income for better health insurance anyway, so whatever.

Answered my questions. Thanks for the informative post. I still think we should rebel and force these fuckers at the top to buy the shit that we can't afford.

[Tiddlywinks]

I also have no idea why you put "Good thing" in quotations and attributed it to me, when nowhere did I say it was a good thing, and in my previous post in this thread I advocate universal coverage.

[Stinkum]

Guess the working poor will be sticking with the duct tape, super glue, Tylenol and prayers scenario then. We will continue to see the poor and the working class destroy their credit with unpaid medical bills and families driven to bankruptcy because they got sick.