I don’t know about you, but I think this health reform stuff is going to be GREAT!
I currently have a pretty good deal. I’m 62 years old with high blood pressure and cholesterol. I pay $322/month ($3,864 a year) for an HSA qualifying policy with a $2,500 deductible.
I know I won’t be able to keep that coverage after reform goes through, but that’s okay. I won’t need it any more.
You see, insurance companies will no longer be allowed to consider my pre-existing conditions in giving me coverage. They won’t even be able to raise my premiums much because of my age. Even though I’m a couch potato, they will have to charge me no more than twice what they charge a 25-year old marathon runner!
But it gets even better. I will be able to drop my coverage completely and save myself almost $4,000 a year, knowing that if I ever get sick and need services, I can sign-up and get coverage immediately. Not only that, but I will be able to sign-up, get the service I need, and drop the coverage the next month.
Oh. sure, there will be a “penalty” for not being covered. But so what? The penalty is only $75 a year, going up to $750 eventually. Let’s see. On one hand I can keep paying $4,000 a year for my current coverage. On the other hand, I can pay the $75 fine for not having coverage and put $3,925 in the bank.
This is so cool! Thank you, Mr. Obama!