With all of the hoopla about the implementation for all insurance plans to offer what government mandates as a core package of services as the product(s) that health insurance carriers must offer to the consumer, they are spinning the truth and missing the big picture.
When my husband and I chose our health insurance plan we did so intentionally to cover ourselves for the level of coverage we needed and we chose a plan that allowed us to put money into a Health Savings Account which we use to pay all of our co-pays and deductible costs. What we wanted was health insurance plan that would pay for what we could not comfortably pay for ourselves. When we chose our plan, we also set aside personal funds monthly in to our Health Savings Account, so that we would always have the money available to pay for our deductibles and co-pays without disruption to our monthly budget. This has other advantages, such as the money was allowed to grow, it reduced our annual taxable income and it would be available for us to spend in our retirement years for other purchases beyond medical expenses.
After December 31st, 2013, our plan is no longer available and we will be one of those few people that President Obama said had a lousy health insurance plan and now we will have better coverage. Well that folks is just one big whopper being told to the public and the media is not showing you the simple truth, so I have put it all in a side-by-side document that you can see for yourself. Compare what we had, what we will have and how much more we will have to pay for it. The money we used to put aside into our Health Savings Account will not happen. We are not affluent people and the amount of disposable income we had to spend monthly at our local businesses will be curtailed because of a too big and too intrusive government.
This is the beginning of the curve and health insurance costs will increase. Why? Because the consumer is still not seeing the true costs of their health care and their health insurance. There will be a lot of consumers who fall into the subsidized formulation and will have little regard for the value of what they receive, or how much it will cost others to subsidize them. What does that mean? Well if you make A, you will qualify for ‘X’ amount of tax payer funded subsidies. If you make B (higher annual gross income), you will qualify for ‘X’ amount of tax payer funded subsidies. This continues until you meet the maximum threshold of annual income, where there are no more subsidies left and the remainder of the populace pays the full cost of their health insurance plus the costs of those who will receive the subsidies. The full amount for a product that they never would voluntarily choose to buy for themselves if insurance companies were able to offer plans that was tailored to their individual, or family needs. The Obama administration is forcing millions of private, US citizens, to purchase health insurance at an increased costs that will effect the US economy in ways that need to be exposed.
Do you think that this is just greedy whining? What is disposable income and why is it important to the local, state and US economy? Disposable income is what we have leftover after we pay for; rents/mortgages, utilities, groceries and our monthly health insurance premium. Now consider that the previous health insurance premiums we will paid, consumed 8% of our annual income. Now consider that the increased health insurance premium costs, with no realizable benefit of services to us, balloons and will now consume this much of our annual income; 17%, 20%, or 24% depending upon which of these plans that we choose without dental and vision. If we choose to add vision and dental those numbers they tak;: 18%, 23%, 26% of our annual income. Please do the math and understand how removing that much disposable income from the US economy is going to affect the local businesses in our community and this is the real story that is not being told to you.
~ Kris Halterman