Todays blog deals with individual/s that already have health insurance through a private plan, Medicare Plan, or an employer plan. Most individuals that already have health insurance are not affected by the Obamacare Plan unless they opt to purchase coverage through a plan exchange.
One of the main features of ObamaCare is the creation of a new federally financed health care entitlement that will subsidize the insurance premiums for low and moderate income Americans, beginning in 2014. The amount of the subsidy is inversely related to family income and will be an administered by new state-based ”exchanges” that will replace today’s small group and individual markets for health insurance. Small company employers may elect to move their high cost company plans to more affordable plans through the exchanges.
Some states are threatening to refuse to set up such exchanges. This would result in the federal government stepping in to accomplish such a requirement. Medicaid extensions are apparently not required in states that refuse to modify their Medicaid Plans, however, this could produce a significant political backlash and potentially deny an important benefit to those that most need it …. the very poor.
There has been much misinformation on television and over the internet regarding the effect of Obamacare for individuals that are already insured. Frankly, Obamacare has little, or no affect on such individuals and families. However, there are some potential benefits in the future for those that are currently insured, such as:
- Children up to the age of twenty-six may remain covered under their parents healthcare plan. Most plans currently drop children from their parent/s plan after their 19th birthday.
- If you lose your current health insurance due to a job loss/change, relocation, illness, etc. … you cannot be denied coverage due to a pre-existing condition. Your employer must provide you with healthcare coverage under the employers existing healthcare plan. You may buy coverage through the exchange if you are self-employed or unemployed.
- You may keep your current healthcare plan if you prefer. Nothing in the Obamacare Plan requires you to give up your current health insurance.
The above terms are based upon the best information that I have been able to procure through current available means. I assume no liability for errors or omissions, however I believe this information to be factual and current. Beware of the politicians and political “talking heads” who are telling us that Obamacare will greatly raise taxes, add to the National Debt, and cause millions of Americans to lose their current health insurance.
Republicans are using many lies and scare tactics in their attempts to sway public opinion.
I have not found any reliable evidence of reductions in Medicare Benefits, or any tax increases other than a tax increase for those in a very high income bracket. There will also be penalties for those individuals who chose to take a free ride (not purchase insurance when they can afford to pay for it). Such penalties may affect up to 1% on the population.
I will try to continue to post other details regarding Obamacare as I am able to study and confirm my sources. I have no political ties to the Obama campaign. The objective of this blog site is to share important information regarding a variety of current topics. Please feel free to comment. Political statements and Obama bashing will be ignored.