Monday, March 22, 2010

Great News! My Health Insurance Will Be Illegal in 2018...

After doing a little bit of research, I have found that my health insurance coverage which I pay for individually, will be illegal in 2018; due to the fact that I must pay out of pocket for most all preventative care- something that the bill doesn't allow for.

This is pretty disheartening to me for a few reasons. I willingly chose the plan that I have. Since I am a pretty young guy, with little wrong with me, I figured that it would be smart for me to pay little monthly, put some extra money into various investments, and to have insurance for catastrophic stuff; say, if I am hiking at Red River Gorge, have a few too many Ale-8 Ones at Miguel's, fall off the Natural Bridge due to the sugar and caffeine hitting my system, and need to be in the hospital for a few months.

As a result of this, I pay around $50 bucks a month to get a 'provider discount' at my doctor (since Humana suggests to their clients go to said group of doctors), and pay $115 bucks whenever I decide to go to the doctor (a rare event). Humana doesn't pay a cent until I have $7,500 in expenses, then cover everything up to a pretty darned high limit. My insurance pays virtually nothing for my prescriptions when I need them, but this works for the best, since I have only had 2 filled in the past year (they were only $40 bucks at Wal-Mart).

So far, my insurance company has had super high margins on my account, and, I too, have saved money as I wouldn't have utilized the benefits of a better plan. Up until now, it has been a great economic exchange that we have both been happy with. Very occasionally, I like to get blood work done as part of what seems to be a bi-annual check up, just to make sure that my cholesterol, triglycerides, and various other blood counts don't get too out of whack; remember, every couple of years when this gets done, I pay for it with cash money.

Additionally, if you look up the term co-payment on Google, in the first link (Wikipedia), the 4th sentence talks of the reasons to use co-payments- to prevent moral hazards and keep over all costs down. I really wonder how getting rid of some forms of co-payments will help to cut costs.

Regardless, the government, is now implicitly telling me through this law that I have been getting screwed the whole time by my insurance company. Since the progressives are looking out for me, they won't let me pay for any preventative care 'out of pocket' anymore and I/the other people being underwritten must pay for it over time with our premiums!

This boggles my mind. President Obama once said that if we liked out health insurance, we could keep it... Well, guess what Barack? I didn't like my plan, I loved it; now, after you sign this ridiculous bill into law, the health insurance that I CHOSE TO HAVE will be illegal in 2018.

President Obama, you sir, are a liar, or, at best, are simply an abject failure when it comes to getting what is right, done.

Disclosure: Nil, other than being slightly more short our nation. ;)

EDIT: You wanna make a difference in this matter, and all others that are freedom related? Give some money to Rand Paul... I did, in honor of the money bomb that is taking place today. :)


Joshua Wallis said...

I don't understand why your health insurance would be illegal. Is it because it is catastrophe insurance only?

jeff said...

My plan generally doesn't pay for preventative care. That sort of thing is illegal, under the now being reconciled health care bill, as there can be no co-pay for any sort of preventative care.

I edited the first paragraph to clear this up.

Anonymous said...

Jeff, you are an idiot and you are the liar... and soon enough, I will set you straight on all of your issues....