The new healthcare exchanges are open as of the first of October 2013, though the laws have been in effect for much longer. There is still confusion and a lot of people yelling to each other, raising blood pressures no doubt, on what this means for them. Some will argue the law doesn’t do enough, others say it does too much, many don’t know. Some people are seeing the benefits already and some are disappointed they will have to start thinking about getting health insurance when they have put it off for a long time. I do get that part of the disappointment, but I also think, you have to be a reasonable person and in the same breath acknowledge we have to do something.
Freedom isn’t free as they say. And having the benefits of the law in place to make things cheaper on you, it still has to be paid for. It will take everyone to make it “affordable”. Similar to buying in bulk, the more people who participate and contribute the cheaper something is. There are a lot of people who use emergency rooms as their version of healthcare, this law will help with that problem, people who aren’t paying their fair share, whether or not they can afford it (if you can’t hey you can’t) will have to contribute one way or the other .
The cost of healthcare is too high, the profits too big, the fact that anyone can sue anyone legit or otherwise forcing doctors to have ridiculous malpractice insurance contributes to the problem. So I see, they couldn’t go through that mountain so they built a road around it.
This law isn’t socialized medicine, so there is justifiable gripping about it not being the national healthcare many have sought after learning about how it works successfully other places. There is something to be said for an idea that we the people OWN the hospitals like we do the libraries and schools, and how the parks belong to all of us. This law isn’t that, perhaps it should be, maybe one day it will evolve to it.
If you want to see how this law is going to work in a smaller setting then look to the Romneycare Healthcare laws of MA. In a nutshell this law will bring the costs down to many people. If you already have insurance your premiums will stay similar, they are predicted to go down, but you will have to wait and see. They cannot just go up at the rate they have been. So logically speaking with the amount of competition involved they should and will go down. For many people you will get a larger tax credit, and all preventive care is free with no co-pays. More people who don’t have insurance through their employer either because it wasn’t an option or it was more money than they could afford may qualify for Medicaid. Which covers everything with no co-pays. This means people who make about 16,000 a year, or families who make 32,000 will be covered at no additional cost but the Medicare tax they have already been paying.
I will use us as an example, a family of 3 making 45,000 our medical insurance has been $ 5,000. Under the new law we would pay $1,100 overall. This factors in the tax credit. SO it would be $3,300 out of pocket and a tax credit of $2200 (66% percent). These numbers are based on the Silver plan, not the cheapest one(bronze) or the more expensive Gold and Platinum plans. Click here for the calculator
So before it cost us $400+ a month with $30 co-pays . Now it will break down to less than 100 a month at that income level. This is not free, but it fits into what I consider (for us) to be reasonable. It is an improvement over what we had before.