Danger Ahead as Republicans Tinker with Healthcare for Millions

Danger Ahead as Republicans Tinker with Healthcare for Millions

The Republican proposal stinks

Trump and Republicans are ready to rework the Affordable Care Act (ACA).

 Here’s what you need to know.

The quality of care provided under the ACA is very good. Republicans tout the supposed advantages of your being able to shop for health insurance. You against the insurance company. How good a deal is that? Are you prepared to read insurance policies. I can tell you it’s no fun even if you’re paid $400 an hour like I was.

There’s something else you gotta think about. ACA exchanges bundle thousands of customers together and then negotiate with insurance companies for the best deals. Under the Rpublican plan you’re on your own. Do you seriously think a mega insurance company is going to cut prices to get your business? My prediction, “No way Jose.”  

Who benefits from the ACA subsidies?

Entrepreneurs with families who are creating startups (like me in a past life)

Employees who are longing to take a better job but who stay put because they need healthcare

Employees who are terminated and who cannot get COBRA.

It could get a lot worse

But more danger lurks in the Republican messing with healthcare. Commentators tend to overlook laws in the ACA that make it much easier for regular folks to win cases against insurance companies. Big insurance would love to get rid of these laws, but you cannot afford to lose them.  For now, they are not part of the Republican package, but we must be aware that forces to dump them are lurking around. No American other than the super-rich with assets more than $110 million can afford to lose these laws.

In evaluating Republican proposals, it is helpful to evaluate the effect on those making over $2.9 million a year. These folks have ample conventional health insurance and their income is too high to benefit from the ACA subsidies. Republicans want to swap the subsidies for Health Savings Accounts. This means the super-rich can add even more money to their already pump HSA accounts to purchase exotic services such as longevity treatments and super massages.

What you can do

You have a quick fix. Call your Congressperson (after hours is fine) and tell them you don’t want any changes to the ACA.

For more:  growthemiddleclass.com

                   Mitchell, Employee Benefit Plans After the Affordable Care Act (accessible through Westlaw)