A short note about Obamacare rate shock

[Samantha]

A longstanding friend from Florida called to let me know he had signed up for The Affordable Care Act. Just to set the stage for what he told me, I should let you know he is very well to do. He started a business several decades ago that took off like a rocket, and he profited greatly from it.

As with any extremely profitable business, a great amount of stress was involved. Over the years the stress took its toll. About three years ago, he started suffering major health problems. I will not get into the details, but as time marched on, he underwent several treatments. The last major surgical treatment resulted in a near-death experience which happened unexpectedly on the operating table. His doctor managed to save his life but told him he could never undergo another surgery for his problem, it was just too risky.

He decided to retire and to take care of his health. He began having to pay for his own insurance, the policy for which included two people -- he and his wife. His premiums were astronomical, running about $3,000 monthly.

After checking out his rates, he immediately signed up for a policy under The Affordable Care Act. This policy is saving him $1,200 monthly. He is very much experiencing "rate shock" and is ecstatic about his savings.

But here is truly the best part: he is a Republican!

Sam

[leftstreet]

1. The well-to-do are benefiting too!

Awesome success story!

[Samantha]

2. I was stunned

but very happy for him. He could not shop around for a better policy because of his pre-existing condition. No one would consider insuring him. So this was the first opportunity he had had to shop around. And it certainly paid off. And he did sign up for one of the best plans.

His wife is a diabetic, so she too had a pre-existing condition. But now they are saving so much on their health care and they give President Obama a lot of credit for making it possible.

It is truly wonderful all the way around.

Thanks for posting on my thread.

Sam

[steve2470]

3. $3,000 monthly, wow !! Was this because of medical underwriting just for him ? That's the highest...

rate I've ever seen.

[Samantha]

4. I do not know but

perhaps it was the same insurance policy he had when he ran his business, and he converted it when he left. I am sure it was not COBRA because he has been gone too long. He did tell me that no one would touch him as far as insuring him so he was stuck where he was. That is a really great thing about The Affordable Care Act, it eliminates an insurer from holding you in place with an extraordinary high premium because no one else will insure you.

$1,800 monthly is still pretty high, but I cannot relay the seriousness of his condition. I just am thrilled that he got something that saves him so much.

Thank you for posting on my thread.

Sam

[Samantha]

5. Postscript

About 4 or 5 years ago, my hairdresser told me she paid $2,800 monthly for health care for 4. This included her husband, 2 children and herself. Her son had a very serious condition, and when something happened that meant he had to go to the hospital right away, she wanted him to be admitted asap without stopping to do paperwork, etc. Show the card, get treated asap.

I did not understand how anyone could afford that type of premium, but she found a way because it was just that important to her. Hairdressers in DC on K Street in particular make excellent money (except during recessions).

Sam

[ScreamingMeemie]

7. State high risk pools were insanely priced

I tried telling DUers this years ago, but it fell on deaf ears.

[Corruption Inc]

6. I don't have any repuke friends, much less "longstanding" ones

Sounds like he voted against every single thing he now needs and it's somehow a win for you that he still has to buy insurance for $1800 a month?

It's be a win for the entire U.S. if we had single payer.

[Samantha]

8. He was my friend before he was a Republican

Knew him since I was a kid. I don't know his voting history. I feel happy for him that he is saving so much money and he credits a Democratic President with that happening.

Sam

[aznativ]

9. Dont know how old your friend is---or his wife for that matter, but

A couple 60 yrs old with a $75k per year income pay about the same as your rich friend (per the Kaiser calculator).

How fair is it for someone making $63k to pay the same as someone making..uh whatever your rich friend is making Esp since the premise of the ACA is to subsidize the rates of the poor with the money of the not-so-poor?

Not bagging on him as his rate is good, but it is the same rate as someone who makes $63k who has a different kind of rate shock and it isnt good.

[Samantha]

10. I don't think you are looking at this correctly

He was being gouged with his other insurance policy and had no way out. Now he is in a larger pool and cannot be discriminated against because of his or his wife's pre-existing conditions. I think he is getting closer to a fair deal now.

I do not think the rates of the Kaiser calculator are too reliable. I read that here and went out tonight and checked that particular calculator myself. I was shocked at the results. Way too high.

Sam