Friday, October 28, 2016

It used to be that an American's biggest payment was their mortgage.

Now it is their Affordable Care Act premium.

A mortgage was an investment that provided a tangible asset that would appreciate and a store of value over the years.

Insurance premiums are spent and gone and worthless in fact, as Mary Katherine Hamm explains:

"Like many other Americans, I got a letter last week. This letter is becoming an annual tradition, arriving on my doorstep in October to inform me of my Obamacare insurance premium hike.

Last year, the letter said my Bronze plan, purchased on the marketplace formed by the, ahem, Affordable Care Act, would increase by almost 60 percent.

This year, my premium is going up 96 percent. Ninety-six percent. My monthly payment, which was the amount of a decent car payment, is now the size of a moderate mortgage. The president refers to these for thousands of citizens as “a few bugs” when to us it feels like a flameout.

For this astronomical payment, I get a plan with an astronomical deductible that my healthy family of three will likely never hit except in the most catastrophic of circumstances.

Let’s rewind to my pre-Obamacare health care situation. Throughout my life and career, I have had both employer-based coverage and significant periods during which I bought private insurance with high deductibles and low premiums. During the run-up to Obamacare, President Obama referred to these plans as “junk” plans, but my family and I received perfectly good care and service through them. We were responsible, healthy citizens consuming a small amount of health care, paying out of pocket for most of it, and making sure we weren’t deadbeats should something catastrophic come to pass. Our health insurance was a rational and responsible purchase."

But at least we can be gratified by the knowledge that Health Care executives are contributing large amounts of money to the Clinton Foundation.


2 comments:

Anonymous said...

Yet somehow in the good old days she yearns for tens of millions of people had no health insurance at all. You know, people who had pre-existing conditions or people who had insurance, got sick, and had their coverage canceled or their premiums raised through the roof. And the Bradley / Republican cure for these issues is to get coverage "should something catastrophic come to pass" and don't get sick (or hope you don't get sick).

What plan. What an ideology. What a joke.

John Kasaian said...

As it is not Affordable, the ACA obviously needs a new name. DPFISD---Democratic Party's Fraudulent Insurance Dictate sounds appropriate.

 
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