The Motley Fool Discussion Boards
Retirement Discussions / Retire Early CampFIRE
|Subject: Underwriting Feature in Obamacare||Date: 1/25/2013 3:57 PM|
|Author: tjscott0||Number: 668304 of 757322|
Millions of smokers could be priced out of health insurance because of tobacco penalties in President Barack Obama's health care law, according to experts who are just now teasing out the potential impact of a little-noted provision in the massive legislation.
The Affordable Care Act — "Obamacare" to its detractors — allows health insurers to charge smokers buying individual policies up to 50 percent higher premiums starting next Jan. 1.
For a 55-year-old smoker, the penalty could reach nearly $4,250 a year. A 60-year-old could wind up paying nearly $5,100 on top of premiums.
Nearly one of every five U.S. adults smokes. That share is higher among lower-income people, who also are more likely to work in jobs that don't come with health insurance and would therefore depend on the new federal health care law.
I don't have a problem with charging those that have or will have self inflicted illnesses a surcharge. I am surprised that Obama ain't showing the love to those that likely vote fer him.
|Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|