Why NOT to buy obamadon'tcare

 An interesting aspect of the new healthcare edict is the fact that you cannot be denied coverage for a 'preexisting condition'. I never really thought about this until I read the article over at RedState. The author makes an interesting point, which I've included here.

This first list of Obamacare regulatory requirements (more will no doubt be imposed) means that most private individual healthcare policies as well as employer provided healthcare coverages become illegal. See this from Forbes. Forbes reports that the Obama administration itself estimates that 66 percent of small employer plans and 45 percent of large employer plans will become illegal in 2014 while 40 to 67 percent of individually-purchased plans will become illegal in 2014. Forbes estimates this encompasses 93 million Americans who will be required to purchase or be subject to more expansive and thus more expensive healthcare policies beginning in 2014 and thus; cannot keep their plan, cannot keep their doctors, and will pay more.
NYT editors then conclude: “For individuals, it [the penalty for not buying health coverage] starts at $95 or 1 percent of applicable yearly income in 2014, whichever is higher, and rises to $695 or 2.5 percent of applicable income in 2016. But why pay the penalty and get nothing when you can pay a reasonable fee and get a good policy?”
Let me answer that question for them. You don’t receive any co-pay/deductible subsidy if you purchase a “Catastrophic” level plan. In Florida Healthcare.gov tells me such plans for young singles will cost $1,800 per year before subsidies and have a $6,350 out of pocket limit for co-pays and deductibles. For a “Silver” level plan a young person making $20,000 a year pays an average premium of $1,021 after subsidies, their co-pays and deductibles total $2,250, yet the penalty for not buying coverage is $200 in 2014 and $500 in 2016. A family of four making $35,000 would pay $5,373 in total subsidized premiums plus co-pay/deductibles in 2014 compared to a 2014 $350 penalty for not having insurance and a $2,085 penalty in 2016.
If you understand basic math you would pay the penalty then only purchase a policy as soon as you get sick or injured. (Here are some other calculations using the Kaiser Family Foundation Health Reform Subsidy Calculator.)
This all confirms that the NYT editorial board is gratuitously political and cannot be relied upon to convey the full scope of relevant facts underlying their flawed judgments.
To some people, good intentions and political ideology are worth any price, including their credibility. Me? I’ll take freedom.
Regards, Pete Weldon
americanstance.org