From the LA Times:
The Obama administration came out with a report Monday arguing that 1 million single adults between the ages of 18 and 35 will be eligible for an Obamacare insurance plan costing less than $50 a month.
That’s news to me.
I’m a healthy 34-year-old with a taxable income hovering right around the Obamacare subsidy level who, for the last several years, has purchased a relatively inexpensive catastrophic health insurance plan from Blue Shield. I get to see the doctor four times a year for a $30 co-pay, and I won’t have to spend the rest of my life working off the debt if I get hit by a bus.
Last month, however, I received a letter from my insurance company informing me that my plan was “no longer available” due to “new requirements for health coverage under the Affordable Care Act.” I am being funneled into the closest equivalent plan under the new California health exchange, and my monthly premium is going to rise by nearly 43% to $214 a month.
My old plan was as bare-bones as they came, so I assumed that even though the new plan would cost more, my coverage would improve under Obamacare, at least marginally.
It did not.
Under my old plan, my maximum out-of-pocket expense was $4,900. Under the new plan, I’m on the hook for up to $6,350. Copays for my doctor visits will double. For urgent-care visits, they will quadruple. Though slightly cheaper plans exist if I decide to shop around on the exchange, I will lose my dental coverage should I switch.
Needless to say, I am not pleased.
Most young, middle-class Americans I know are happy that millions of previously uninsured people will receive free or heavily subsidized insurance under the Affordable Care Act.
We just didn’t realize that, unless we had health insurance at work, we’d be the ones paying for it.