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Thread: Obamacare: Is a $2,000 deductible 'affordable?'

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    Re: Obamacare: Is a $2,000 deductible 'affordable?'

    Quote Originally Posted by MaggieD View Post
    That link doesn't show me what you posted. But I take your word for it. What age did you use? And, yes, we should look at it after. The OP is useless as a comparison tool.
    I used age 28, I didn't have the average age of their report. But the premium will vary with age so the older you are the more this will cost.

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    Re: Obamacare: Is a $2,000 deductible 'affordable?'

    Quote Originally Posted by jmotivator View Post
    At full implementation it will be $695 annually +2.5% of income.

    So insurance cost is $3,852 out of pocket for a bronze plan in California.

    So, what income to do have to make for the penalty to break even in a given year?

    ($3852 - $695) * 40 = $126,280.00

    So it is cheaper for 85% of all earners in the country to not get insurance and just apply for it if they do get sick.
    Hold on there, you are ignoring fed subsidies, and what is the 40 multiplyer?
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    Re: Obamacare: Is a $2,000 deductible 'affordable?'

    Quote Originally Posted by jmotivator View Post
    The internet is your friend.

    $2000 deductible, 0% Coinsurance, in Los Angeles for a single female... $174.00/month

    $1750 deductible, 0% Coinsurance, in Chicago for a single female... $216.00/month


    There is your "before". We now see the "after" will cost more.
    Did you look at the plan details for these cheap plans?....those cheap rates mean nothing once you get into plan details.

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    Re: Obamacare: Is a $2,000 deductible 'affordable?'

    Quote Originally Posted by sawyerloggingon View Post
    Interesting, I thought it was Obama care supporters bashing Caddy plans saying it drove up health care cost for everyone else. The point is obamacare has no Caddy plan that some people want or even need.
    Actually it was McCain supporters attacking the 'Cadillac' plans of the unions driving up costs both for companies that employ Unions and the healthcare system. What I see 'driving' up costs is the medical profession doesn't have to 'compete' with advertised pricing. Someone posted the huge price differential between hospitals that were yelling distance of each other. In the more rural locations the medical facility has a virtual lock on business unless the patient wants to travel 100 miles to OKC or 150 to Dallas.

    What we need isn't for the Right Wing to whine but for the light to shine on medical pricing and practices.

    Now since you are drifting the 'point' yet again, please tell me what 'Caddillac' plan some folks 'need'? Now the way I heard it is I can keep my existing plan OR opt for a new one.

    Just how is your insurance of worth when you are not using it?

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    Re: Obamacare: Is a $2,000 deductible 'affordable?'

    Quote Originally Posted by notquiteright View Post
    Actually it was McCain supporters attacking the 'Cadillac' plans of the unions driving up costs both for companies that employ Unions and the healthcare system. What I see 'driving' up costs is the medical profession doesn't have to 'compete' with advertised pricing. Someone posted the huge price differential between hospitals that were yelling distance of each other. In the more rural locations the medical facility has a virtual lock on business unless the patient wants to travel 100 miles to OKC or 150 to Dallas.

    What we need isn't for the Right Wing to whine but for the light to shine on medical pricing and practices.

    Now since you are drifting the 'point' yet again, please tell me what 'Caddillac' plan some folks 'need'? Now the way I heard it is I can keep my existing plan OR opt for a new one.

    Just how is your insurance of worth when you are not using it?
    If you have not yet realized that is complete horse s*** you are not worth my time or effort. Do some research and get back to me when you are better informed, SHEEESH!

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    Re: Obamacare: Is a $2,000 deductible 'affordable?'

    Quote Originally Posted by sawyerloggingon View Post
    Interesting, I thought it was Obama care supporters bashing Caddy plans saying it drove up health care cost for everyone else. The point is obamacare has no Caddy plan that some people want or even need.
    Part of the problem with Cadillac plans are that the really expensive plans are just in lieu of salary in order to escape taxes for both the company and employee. There's definitely a reason to offer tax incentives for companies to subsidize health insurance but some plans go a bit to far. Ultimately you'll just end up seeing companies with better benefits moving extra money into direct pay to customers. I think the healthcare subsidy is estimated to be around 800 billion or so dollars a year (in total).
    “Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone.” John Maynard Keynes

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    Re: Obamacare: Is a $2,000 deductible 'affordable?'

    Quote Originally Posted by sawyerloggingon View Post
    If you have not yet realized that is complete horse s*** you are not worth my time or effort. Do some research and get back to me when you are better informed, SHEEESH!
    Sooooo basically your out on a limb and rather than tell me what a Cadillac plan is, and your the one who keeps using the term, and who NEEDS one, you throw a temper tantrum and go home?

    Your the one making no sense with comments like the insurance is worthless and then run around pointing at 'cadillac' plans or some such.

    Perhaps you should become informed from some other place than where you are now. I just changed plans to the current one I have, so I have done some research and I don't have a 'Cadillac' plan.

    it might be best you just stay out of the conversations, you seem to wander a bit until you get mad and storm off...

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    Re: Obamacare: Is a $2,000 deductible 'affordable?'

    Quote Originally Posted by Gimmesometruth View Post
    Hold on there, you are ignoring fed subsidies, and what is the 40 multiplyer?
    The 40 multiplier is because the income penalty is 1/40th of your income. For the penalty to equal insurance cost you would need to make 40 times the variable penalty.

    As far as government subsidies go, it doesn't actually change the cost. The problem is that the penalty is, in it's own way, subsidized.

    In the first year the baseline penalty will be $95.00 +1%, or about $8.00/month +1%. As shown in the subsidy post a few posts back, someone making 150% of poverty level who buys insurance would pay $44/month after subsidies.

    But since they make $17,235, their total penalty would be $95+1% or $267.00 in penalties. That brings the penalty to $22.70/month.... about half the cost of buying insurance.

    It really doesn't matter what the penalty will be in 5 years since the design of this plan will kill the insurance companies well before the penalty becomes actually prohibitive.
    Last edited by jmotivator; 06-13-13 at 04:17 PM.

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    Re: Obamacare: Is a $2,000 deductible 'affordable?'

    Quote Originally Posted by straykatz View Post
    Did you look at the plan details for these cheap plans?....those cheap rates mean nothing once you get into plan details.
    Go look it up yourself. The office visit of the Chicago plan was 100% coverage after deductible, for example. It was certainly no worse that the plan posted in the OP.

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    Re: Obamacare: Is a $2,000 deductible 'affordable?'

    But also worth noting, in the first year the break even income is much higher.

    Final penalty equation (again):
    ($3852 - $695) * 40 = $126,280.00

    First Year Equation

    ($3852 - $95) * 100 = $375,700.00

    So in the FIRST year of Obamacare it will be cheaper for 98% of all Americans to just pay the penalty rather than sign up for insurance unless and until they become seriously ill, at which point they can sign up for whatever insurers are left after the mass exodus.

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