“If you like your policy, you can keep your policy – If you like your doctor you can keep your doctor – ObamaCare is going to save you at least $2,500 per year,”
These were headlines promised by President Obama and all of them turned out to be untrue.
Hank Richards with the Examiner, looked into random health policies and did a 2014 and 2015 comparison.
If you are new to the healthcare game, the first thing you need to do is decide whether you want a PPO or HMO type policy.
A PPO is a Preferred Provider Organization and allows you to select any doctor who is a subscriber to the PPO network. This is the most most flexible type of coverage.
An HMO is a Health Management Organization and has specific doctors in the system for you to use.
If your doctor is not an HMO member, you will need to forfeit that doctor for another choice and you will have to change doctors under the HMO plan.
If you are looking for that $2,500 savings, look no further because there is none as promised by the President.
In a random comparison, Humana and Blue Cross Blue Shield (BCBS) PPO’s were selected because they are popular plans that most people are aware of.
In both plans the 2014 Out of Pocket Spending Limits (OPSL) were lower as compared to 2015 meaning health plans for the new year will probably cost you more money out of your pocket.
The increases for 2015 reveal that the health coverage segment for the (OPSL) increases in Humana by a $500 deductible and $2,000 for BCBS. Both had no deductible in 2014.
Humana, BCBS and other providers increased the drug coverage deductible to $320 out of your pocket for certain drugs in certain tiers.
BCBS had 4 tiers for drug coverage in 2014 and realigned their coverage with 5 tiers for 2015. Some of the most popular drugs that had co-payments of $10 in 2014 will now have a co-payment of $45.
There is no $2,500 savings as you’ve already seen with the 2 examples. According to health insurance reports, the cost of reinsurance will continue to increase annually for as far into the future as the eye can see.
The root cause of the problem is the passage and introduction of ObamaCare. Anything the Federal Government underwrites always costs more.
When the bill was signed into law, there were 31 million uninsured people in the U.S.
Since the law has had a chance to work its way into the public, there are now 47 million people without insurance and the cost has increased by more than $1.5 trillion dollars, a 300% increase over the original Obama forecast.
Where is the money going to come from to pay for a law that has changed the way we insure ourselves and families; from the middle class and the taxpayers. That’s where it always comes from.
Taxpayers, heads of household and providers have been scammed and sold a bill of goods certain be exposed again in the next 90 days.
The President’s Law has already impacted whether a family buys a new home or buys ObamaCare. The increasing cost structure may determine whether that same family buys food or health insurance.
Do your best to shop and compare insurance needs just like you would when grocery shopping.
You have until December 6th to make your decision. You will have to make that insurance declaration at tax filing time and pay a penalty if you failed to purchase some form of health insurance.
It’s the law, Remember. President Obama said so!
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