Wednesday, October 23, 2013

Obamacare Bites

I've been doing a good job at keeping myself at arm's length from politics this year because I'm a bit weary of it. It's silly season, and we have an election in less than three weeks.

But sometimes politics comes to bite you from under the table like a rabid dog in any case. I've just been informed by my 5000+ person company that they are cancelling my preferred insurance plan for 2014.

I'm a little salty about it.

"Regrettably, the Gold Plan -- for many years considered our "premier" level medical plan -- will not be available in 2014. The 2014 costs incurred under this plan rose to an unprecedented high. In addition, this type of plan will be subject to a "Cadillac Tax", under the rules and regulations of the Patient Protection and Affordable Care Act [Obamacare] excise tax."

I've got a large family with a lot of ongoing medical issues. The plan that I rely on to keep my medical costs affordable has just been made un-affordable and un-available.  Instead, I have the option of paying more to get a lesser plan with higher deductibles, higher out-of-pocket limits, lower covered percentages, and fewer options.

So much for "keeping the insurance you like". Empty promises, broken dreams. And will that increased cost be offset by higher wages or subsidies? Not a chance. The company is also taking it on the chin. Medical costs continue to rise and with them insurance premiums. Obamacare does nothing to lower real medical costs and seemingly nothing to lower insurance rates for those that have it.

So let's review: higher costs, canceled coverage, real medical costs increasing, and a shuffling of the chairs on the Insurance Titanic.

Does anybody know of anybody anywhere whose insurance rates went down for the same product?

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HoyaGirl, said...

I haven't found one yet, and Matt Walsh has a list of horror stories like yours over on his blog:

Nod said...

Thanks for the heads up, HoyaGirl. It's sad, really...

Larry Denninger said...

I'm afraid your experience is merely the tip of the iceberg...

Well, you *did* mention the Titanic, right?

Praying for you and your family.

Nod said...

Thanks Larry. Good to hear from you; witty as always!


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