Well, I have said since the beginning that the Affordable Care Act would significantly increase premiums. I remember before it passed calling Senators across the nation who were said to be undecided urging them to vote No on this law. I vividly remember speaking to an office explaining to them that I thought one provision to the plan would alone add $200 per month to my policy. Everyone said, you do not know what you are talking about. Or they said you are to conservative, or you need to take the politics out of it.
I kept saying no, I have been in the insurance business a long time, I know how it works, and if you add all of these benefits to the plan, that will add cost. If you cover pre-existing conditions that also adds cost. People then tried to tell me more people in the pool etc,. Yes, I know all that.
Well guess what. I have an HSA plan with Blue Cross Blue Shield of Illinois. A $5000 deductible plan for me and my two children. I have always carried a more catastrophic type plan, because I believe that insurance should be for things you cannot pay for. I do not mind paying a $100 per doctor visit for the once per year my kids may have to go. Kind of like I do not mind paying for an oil change on my care a few times a year.
Well I got the letter last week that my Blue Cross/Blue Shield of Illinois plan is being cancelled on 12/31/2013. I have to select a new Affordable Care Act plan. I looked through them and a comparable plan will have a higher deductible and a higher out of pocket maximum and the plan will go from $315 per month to $640 per month. WOW!! and I might qualify for a subsidy. It looks like according to all calculations it would be about $100 per month. So, that I guess nets out to $540 per month, still more than $200 per month more that I was paying.
Where is the $2500 per year savings our President promised. Where is the if you like your health plan you can keep your health plan promise?
How is this better for the economy if my personal expenses go up over $200 per month?
What am I missing? Nothing!! I was correct in 2010, and I am correct now. This is a bad law. Maybe we can fire congress!!!