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This is a historic week in Chicago and around the United States of America.  The United States Supreme Court will begin opening arguments of the Health Care Reform Law, known as the Patient Protection and Affordable Care Act, sometimes known as Obamacare.

 

It is very unusual for the Supreme Court to allow this much time for arguments.  I guess that tells you how important this case is.  Supporters of the Law, say health care for all is a fundamental right, while the opponents of the law say, the United States cannot require anyone to purchase anything including insurance. 

The US Government states they can enforce a penalty ( or a tax) if you do not purchase health insurance beginning in 2014.  They say it is part of regulating commerce.  While conservatives argue if they can force you to purchase insurance, they can also force you to buy vegetables or tell you what kind of car to drive.

 

The answer is probably somewhere in the middle.  What we do know now is that the PPACA will cost almost twice what they thought it would cost according to recent numbers by the non-partisan Congressional Budget Office.  We know that there is a $1 tax per month for abortion coverage.  We know that the fine or penalty or tax is significantly less than if you purchase insurance.  We know that if the Law is not overturned that premiums will need to increase. 

The reason the premiums will need to increase is insurance companies will not be able to deny coverage for medical conditions.  Really nothing wrong with that EXCEPT, there is nothing from keeping people from paying the fine for not having insurance, then getting sick, buying insurance, getting well, cancelling insurance and go back to paying the fine. 

Now, it is recognized by most that there is a problem with the health care system in the United States.  Not just a health insurance problem.  Look at what it costs for an MRI?  I took my son to the doctor recently (I have a HIGH DEDUCTIBLE HEALTH SAVINGS ACCOUNT-H.S.A).  So I have all of those charges apply to my deductible the bill for the examination was $234.00.  That is ok.  I did not mind paying that I choose to have catastrophic coverage.  I will not go bankrupt over $234.00.  I would rather not pay the $234, but I am OK with it.  Heck, I paid more than that to take my dog to the vet.

Everything has to be relative. Health insurance costs a lot, because medical care costs a lot.

Here is a table kind of the history of health care reform

The Supreme Court will might take until June to make its ruling.  This not only affects our health care system, but potentially the government’s role in all purchases.

Thanks for reading! 

Eric Wilson is President of I Sell Health, Inc and UnbELIevable BaLANCE Corporation.  He can be reached toll free at 888-448-5370 or online at www.unbelievabletaxfree.com