I have written on this subject before, about a year ago. I was notified by my health insurance provider, Anthem, that my insurance does not meet the requirements under Obamacare and that in 2015 I will need to choose another plan. The current insurance I pay for is essentially in case of a disaster.
Now there is a reason I chose this particular insurance plan. I am 25 years old, my job requires me to work on my feet (which is much healthier than sitting at a desk), I eat organic foods, and I go to the gym for 2 hours a day, 5 days a week. I have no preexisting conditions, I don't smoke and I don't drink. Essentially, the definition of healthy living. My wife is the same, no health issues, eats well, and exercises regularly. She is in graduate school so children aren't in the picture any time soon. Because of this, our insurance rate is very low, less than $150 a month for the both of us.
Yesterday I received a notice from Anthem that my insurance will be canceled on December 1, 2014. Also, I am required to sign up for a plan that is in compliance with Obamacare regulations. Essentially, I need to pay for additional benefits that I don't currently need. Some of those requirements are prescription drug coverage and maternity coverage. As stated previously, no preexisting conditions and no children, but I am required to pay for it anyway.
Now, because of our current situation, me being the primary income because my wife is in school (she gets a small stipend), our budget is tight. Also, we track every dollar we spend and that way we know exactly what we can afford. I work on commission, so my pay varies from month to month. I have to pay the monthly bills with my income, which includes rent, utilities, phone, insurance, and student loans. Because of my pay fluctuation, the rate I was paying for insurance fit within our budget and we had nothing to worry about. An increase will be difficult to handle.
When Anthem sent me my notice yesterday in the mail reminding me that if I like my insurance plan I CAN'T keep it, they sent me a quote for a new policy. According to Anthem, this is one that most closely aligns with my current coverage, but has those essential benefits required under the new law. When I read the rate increase, the word "shock" is an understatement. My insurance premium for a plan that Anthem says is most like mine, but includes everything required under the law, will increase my premiums by 275%. THAT IS ALMOST TRIPLE WHAT I PAY NOW! I stared at the statement not knowing what to do. My monthly rate was quoted at almost $400 a month. For me! Never been to the hospital for anything. The only time I was every sick and needed medication was when I had strep throat 15 years ago! I've never been seriously ill, never broken a bone in my body and have only gone to the doctor for physicals (when my wife makes me). But now, due to President Obama's "landmark achievement" I suddenly need to pay an exorbitant amount for health insurance.
I have no idea how I will be able to afford this. My current policy has been working fine, mostly because I'm perfectly healthy. My income isn't stable and I have plenty of other bills that need paying. I can't fathom how one day I have insurance and am paying a manageable low premium, and then the next day I will need to pay almost 3x as much even though nothing my health condition hasn't changed.
This is actually going to make my health worse. Yes, Obamacare has the potential of making me less healthy! The reason is that in order for me to exercise daily, I need to purchase a gym membership. One months health insurance premium costs the same as an entire year at the gym. Also, in order to be healthy, I pay more for organic foods which are more expensive. If I am having to trim areas in my budget, looks like grocery may need to go down, meaning buying less healthy organic foods.
So, thank you President Obama, your defining legacy (healthcare reform) is going to cause me, and many more like me, to have to strain my budget for something I don't want, and don't need.
The truly amazing thing is that the President knew this was going to happen. He blatantly lied to the American people saying that premiums wouldn't change and that those who liked their coverage could keep it. None of that has come true. Sadly, I am in the age group that is getting the shortest end of the stick. Now, because the insurance premiums are so insane for my wife and I, on my Anthem notice was a little box on the back side of the paper saying that if I make less than 39k a year, I can get a government subsidy!
First off, they knew the insurance rates would be astronomical, which is why the subsidy is there. Secondly, as someone who doesn't want to rely on federal assistance, this may be my only real option. Obamacare is going to generate major dependence because of individuals like myself who can't afford his health insurance requirements. It's insane. My choice is either strain my budget and pay for it all myself, or become dependent on the government to subsidize part of my premium. It's forced dependence.
No matter how any of this plays out in the end, it's worse than my current situation. I like my insurance and I can afford it. Next year, either I will have a hard time making ends meet or I will be dependent on the government. Man I love the USA! The last option before me is one that I am seriously exploring, not getting insurance. I've been paying my own insurance for about 4 years now and have had no reason to use it. So, given the option between being dependent on the government or paying a 'tax' for not being covered, I think I'll take the tax.
The amazing thing is the bit of irony in this situation. The Presidents mission was to decrease the amount of people who are uninsured. Well Mr. President, in my situation, the exact opposite happened.
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