Stop saying they're all junk policies anyway.

[thesquanderer]

I posted in a couple of threads a while back, but it has continued to come up so often, I hope you don't mind an OP on it, and I'll put a little more detail here.

Some of the policies that are being cancelled are good ones. I know, because I had one (Well, have one, until Dec 31.)

I am a 50+ male who would not qualify for a subsidy.

My plan has a $10k deductible. But other than that, it is a strong policy. Good coverage, good doctor network, no annual or lifetime caps on what they will cover.

Under Obamacare, the cost of my plan will go up from 2-something to 4-something for the least expensive option offered to me, and I'm not sure my doctor will even be in that plan (they don't know yet)... the least expensive plan that I know for sure lets me keep my doctor is 6-something.

True, my deductible will go down. But I am healthy and will almost certainly not reach *either* deductible level. I'm simply going to have to pay thousands more in premiums each year.

What's more, the pre-deductible medical expenses that I *do* have will now cost me more, because with my current plan, I can pay those expenses with non-taxed income (using a health savings account, HSA), whereas, as far as I could tell, that's going away, so I'll have to pay my medical expenses with taxed income instead. (I assume I'll be able to use whatever I already have in my HSA, but I won't be able to put any more into it.)

Yes, if I get a major illness, I may come out a bit ahead due to the lower deductible. Not all that much ahead, considering the higher premiums. But really, to be honest, if I get that sick, a couple of thousand dollars one way or the other is going to be the least of my problems.

All that said, I am still in favor of the ACA. I am one of those who actually thinks it is good to sometimes vote against your own best interest. ACA is not in my own best interest, but I recognize that, as a whole, flawed as it is, it is better for the country than the old system was. Any time there's a major change, it's nearly impossible to set it up so that everyone comes out ahead, and I just happen to have gotten the short end of the stick on this one. C'est la vie. But if they actually do find a way to address this, so much the better.

The point is, people should stop dismissing all the people who are losing their policies as having only junk polices anyway. It just isn't true.

[PSPS]

1. I'm in the same boat as you are

My current soon-to-be-cancelled policy is fine for me as it covers what I want and doesn't cover what I don't want. I, too, am in favor of the ACA. DU is full of swooners, though, who interpret anything critical of anything happening during this administration as some kind of "attack" on the object of their adoration.

[quinnox]

2. I hear you. It appears the reality is setting in though, and that is a good sign

Obama finally seems to be acknowledging the problems, and maybe they can fix this ACA thing with major surgery.

It had to happen, you can't live in Obama happy cloud land forever, and pretend everything with the ACA is wonderful.

[oldhippie]

3. It looks like you are one of those ....

... that will have to contribute more so that the less fortunate can get coverage. It will have to happen to many.

ETA: And you make a good point about "self interest." So many here wonder why people sometimes vote against their own self interests, like it's always a bad thing. What they really mean is that they don't like people voting against *their* self interests.

[PeaceNikki]

4. Obama has allowed the insurance companies to keep the policies through 2014

So, it's on them now.

[Omnith]

12. How did he do that?

I thought there was some work in congress to that effect but it hasn't happened yet.

[PeaceNikki]

13. press conference in progress

[Omnith]

15. Oh, thanks, I'll check it out.

[DoBotherMe]

5. Is it the Bronze Coverage?

If the total cost of the premium is more than 8% of your MAGI you are eligible to purchase the catastrophic plan (which it sounds like you have now). Wellness care is free even under the catastrophic high deductible plan. Dana ; )

Other Coverage Options (single, nonsmoker)
Because Bronze level coverage would cost more than 8% of your household income, you may instead opt to purchase catastrophic coverage. With a catastrophic plan, you would pay out-of-pocket for most health services until you reach the annual limit on cost sharing ($6,350 in 2014). However, preventive services are covered with no cost sharing required.

[thesquanderer]

10. A bronze premium will not cost more than 8% of my income

therefore I don't think a catastrophic plan is made available to me, and would explain why I didn't see anything with such a high deductible offered.

[gollygee]

6. It is harder for you in the very short term

But at 50 it won't be long before you'll be thankful for the ACA law against denying coverage for pre-existing conditions, and you're right next door to health coverage being really expensive.

[thesquanderer]

9. "pre existing conditions" isn't an issue here

The people who can't get coverage for pre-existing coverage are people who had no coverage or whose coverage had lapsed. As long as you maintain continuous coverage (which I already have), pre-existing conditions are not a factor, and a not a new benefit to ACA. This may vary by state. Here in New York, many protections were already in place pre-ACA. So this will not be a new protection for me.

[gollygee]

14. It is for tons of people

My husband and I have been covered by his work insurance for ages, but we now both have pre-existing conditions. We were really worried about what would happen to us if he lost his job. There is no such thing as job security these days.

The vast majority of people are helped by the ACA, even if they have insurance through an employer. Most of the rest will at some point be helped by it. We couldn't keep such an unjust health care system because some healthy younger men aren't immediately helped by it but so many people were suffering until now.

Hopefully at some point we will have a single payer system.

[Schema Thing]

7. Don't know where you are, but here in Texas you could

find an HSA plan under the ACA, and I suspect you'll be able to wherever you are.

[DoBotherMe]

8. You can keep your HSA if you have the Catastrophic Plan

The Affordable Care Act did make some changes to Health Savings Accounts – also called HSAs – and how they will work:

First, the law eliminated one’s ability to use money in their HSA account to buy over-the-counter drugs

The second big change is that the law increased the penalty for withdrawing funds from your HSA before you reach age 65. The early withdrawal penalty increased from 10% to 20%.

[thesquanderer]

11. related to my previous post...

... since catastrophic is not offered to me, the HSA option is not offered to me.