How Obamacare Doubles My Insurance RateSubmitted by MarcMadness on Tue, 10/01/2013 - 09:25
When I’m not busy promoting liberty via Internet rants (and now podcasts!), I have a freelance career. Being a freelancer and not tied to any single employer, I purchase my own health insurance. Now I am relatively young – in my early 30′s – and in good health. I rarely visit the doctor for anything, and only purchase health insurance for – *gasp* – actual emergencies. I pay a (relatively) lower monthly rate with a high deductible and pay out of pocket for most expenses, while insuring that if I break my leg or get cancer or something of that nature I don’t go bankrupt.
Today I got a letter from my insurance provider stating what I’ve known for some time: that my current plan was not ACA (Affordable Care Act, the legal name for “Obamacare”) compliant, and that I would have to sign up for a new plan. The new plan is nearly double the cost of my current insurance. The best part? My new, more expensive (“Affordable?”) plan actually offers less coverage than I had before, with higher deductibles and out-of-pocket maximums.
Just like our airline tickets are now littered with line after line of taxes and government “fees” (more taxes!), so does my health insurance now have a user-friendly tax breakdown! Here’s a breakdown of the five additional taxes that are adding to the cost of my plan, as described by my health insurance provider: