As I understand it, Obamacare will soon prevent insurance companies from restricting coverage due to preexisting conditions. That helps front load benefits to make it easier to sell politically.The individual mandate to buy insurance kicks in in several years, if the courts allow it and if it works in practice.That seems to offer a window of opportunity for me to drop my individual insurance coverage which I've purchased since 1999 and for which I currently pay $992/month.When Washington State prohibited discrimination for preexisting conditions, many doctor's offices and hospitals signed people who were already sick, injured or pregnant for coverage when they walked into the office.It would seem that the smart response to Obamacare is to quit paying for health insurance and join the ranks of the uninsured as long as I am healthy, and to be prepared to sign up for insurance if I get sick or injured.Just how soon does the preexisting condition ban go into effect? Seattle Pioneer
"Just how soon does the preexisting condition ban go into effect? "From what I have seen is 'immediately'.....but that will be interesting to see if the insurance companies write new policies, or point out 'that policies are under review and until then no new policies are being issued. You can apply, but the applications will be held until they develop new policies around the new law......which could be years.I wouldn't drop your insurance. YOu might not be able to buy a new policy if you are uninsured...they might just stop issuing them, or only continue providing insurance to those who currently have it, or are covered under HIPAA.......ie, a 'transfer' of insurance from one provider to another. Obama says 'that there will be no pre-condition issue' but he didn't mandate that insurance companies actually provide new policies. Remember - he said 'you can keep your current insurance if you like it'....but nowhere does it say 'you have a right to buy health insurance from any company'.....t.
As I understand it, for children it happens almost immediately. For adults, you'll have to wait until 2014.
PolymerMom writes,As I understand it, for children it happens almost immediately. For adults, you'll have to wait until 2014. There is $5 billion in the Bill to fund high-risk pools that must begin operations within 90 days. However, there's nothing in the bill that limits the premiums charged by the risk pools. They'll likely be unaffordable for more than 90% of the people denied coverage because of a preexisting condition.At least it will help the rich who are denied coverage.intercst
"There is $5 billion in the Bill to fund high-risk pools that must begin operations within 90 days. However, there's nothing in the bill that limits the premiums charged by the risk pools. They'll likely be unaffordable "Aren't these the ones that have to be set up by the states..to rules that don't exist yet? And in conformance with 100 other parts about non-discrimination, equal access, minority set asides, ratios of female/male execs, with 100 reports due each quarter to measure progress?That will take a year to figure out how to set up, no less how to set it up, plus how to finance it, how to transfer the money from the feds, to what account, with oversight, but what 159 departments that this health bill requires be set up? You think the gov't can do its part in 90 days???hee hee hee...wishful stupid lib thinkingt.
If you drop your insurance after the mandate goes into effect in 2014 and pay the fee, you would be able to get coverage, but the cost is limited to three times the base cost. This is what I have read about this provision.
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |