Healthcare just keeps going up

In this excellent article, Forbes discusses in detail why Obamacare will force premiums higher – not lower as promised.

Of course, some people will pay less, at least for awhile. That’s because their premiums will be subsidized. The source of those subsidy funds is at the heart of the debate in Washington over who is going to pay. Subsidies of course, are not funded by thin air – someone named Peter has to be robbed (taxed) to pay Paul (in the form of subsidies).

The people hit the hardest will be people who pay their own premiums and who are above 4x the poverty level, currently $88,000 for a family of four. Those people will be required to purchase coverage but will receive no subsidies. Their premiums likely will be 40% higher on average in 4 years than they are today – that’s when the meat of Obamacare would kick in, and it just gets worse from there.

All of this just has to make one wonder: What in the world is Pelosi and her pals smoking behind those closed doors?

Of course, there’s a bright side. Health savings account plans are looking more and more attractive, especially to people who pay their own premiums.

If you have not yet set up an HSA plan, consider getting in touch with my or one of my staff at your earliest possible convenience to get some quotes and start the ball rolling. We’ve been doing this over 30 years and we’ll be glad to help you avert the coming disaster from Obamacare.

As this new CBS News poll suggests (love Katie Curic by the way), an astonishing 36% of Americans now support Obamacare.

The fact of the matter is, as more details become public, support drops.

The only question remaining is whether Democrats will have the stomach to keep pushing this terribly unpopular legislation to the brink of destruction.

Time will tell.

We don’t have much of it left.

If it does pass, beware.

Your health insurance premiums will double within 6 to 12 months (if you pay your own way).

Don’t believe me? Just wait and see.

This is the biggest fraud ever perpetrated upon the American people.

What a disgrace.

CDR

So here’s what the Wall Street Journal has to say about the (alleged) mess with health insurance – and by the way, I agree with every word in this article, which is why I am sharing it with you.

First, it’s important to understand that 90%, fully 9 out of 10 working Americans, are covered under a health plan where they work. Most people are pretty happy with their plans too — they should be, given the enormous subsidies employers are forced to pay (which makes GROUP coverage seem “cheap” to those covered).

The horror stories Obama is using to scare the rest of us have nothing to do with GROUP insurance – those stories have to do with INDIVIDUAL coverage, often after someone leaves the cozy mother-nest of group coverage.

So that leaves us with only about 10% of the marketplace that has a real problem of any kind (other than cost). Give or take, that’s about 15 million people, which includes the self-employed and those who have to otherwise fend for themselves.

Several ideas Obama is proposing have already PROVEN TO BE DISASTROUS in several states; namely, New York, New Jersey, and Massachusetts. Why in the world would anyone want to take ideas proven to be bad and implement them nationally?

Fundamentally, it has to be because of a gross misunderstanding of the scope of the real problem. There is no other explanation.

In fact, however, changes proposed will actually serve to further increase, not decrease costs, both in higher premiums AND higher taxes.

Will they system then be “fixed?”

Of course not – many people will be forced to simply opt out and “pay the fine.” Then what?

The cycle will get even more vicious – that’s what!

Here’s to hoping that more informative articles such as this one from WSJ will help people understand that the scope of the fix should be narrowed to more closely fit the scope of the problem.