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American Capital Agency Corp. Message Board

  • raybans2 raybans2 Sep 26, 2013 1:28 PM Flag

    More Obamacare subsidy information.

    The following text is copied from a creditable insurance information web page

    "The premium assistance subsidy reduces the amount that an individual or family pays for health insurance coverage by providing a tax credit. These subsidies are only available through the Exchange. Subsidies are determined on a sliding scale, based on income, so that individuals at the lower end of the income scale get the most help. The subsidy is based on the premium for a benchmark plan (the second lowest cost silver plan available in an Exchange). An individual or family who wants a more expensive or higher tier plan (i.e., gold or platinum) must pay the difference."

    Note the sentence "These subsidies are only available through the Exchange"

    So you have to buy insurance through the exchange to get the subsidy. Buying insurance outside the exchange does not qualify you for the subsidy.

    This is counter to the claim that Walrathcrai made when he commented that the subsidy was available to anyone who bought insurance on their own. This is NOT the case if you do not buy it through an Obamacare exchange. He was just making that up and I assume that does not come as a surprise to many. I just wanted to clarify this misinformation. Walrathcrai may not care if he misleads people into making costly mistakes but I do. It is important to know this correctly if you are counting on getting the subsidy. It is a mistake that could cost you as much as $10k.

    BTW, I have not run across any PPO plans in the California exchanges yet. They are all HMO or HSA. But that might be because the insurance companies have not made all these plans available yet because they still have time to but we are getting pretty close to the deadline so I'm starting to doubt that. Maybe there will be no PPOs offered in the exchanges so insurance companies can keep cost down. We will have to wait and see.

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    • We, as a country, have never come to grips with the question of healthcare production and distribution. At the risk of using a trite expression, we have never been able to see the forest for the trees.

      Poor quality care and care which is inequitably distributed costs human lives. What level of harm are we willing to accept as a fair trade for other objectives we feel are important? By providing food, housing, and health benefits without effort on the part of the recipient, we unavoidably provide alternatives to work, and opportunities for the unscrupulous to game the system. On the other hand, some are not as fortunate as the rest, and can't survive without some level of help.

      The biggest problem we now have is failure of our congress to do the job intended for them by the constitution. The first question they need to answer is whether health care presents a problem for our country that needs congressional action. If the answer is yes, then the senate and house should have worked together to find the best solution. Obamacare is likely a first step toward socialized medicine, and I have for years considered that to be the inevitable outcome. Whether that will be good or bad depends on the details of how it's eventually implemented.

      • 2 Replies to yahutag
      • The problem we have in the US is that we have the highest health care cost in the world and we have a situation with preexisting conditions. The former is caused by high fees and the later caused by insurance underwriting. Obama ran on the principle that he wanted to fix the cost of healthcare and eliminate the preexisting conditions issue. He never really ran on the principle that he wanted to provide healthcare to people who could not afford it by transferring the cost to the rest of us. That pretty much never came up in his speeches and thus it was never made explicitly clear to his supporters. So what he said and what he did was not the same thing. As a conservative I never imagined that he would do otherwise. However I do not understand how Democrats reconcile being deceived as if it never happened. As if this is business as usual or simply OK. I guess it is a difference in one’s standards of personal conduct. What you expect from yourself and others. Apparently for many a low standard of conduct is normal to them. It never has been for me.

        He could have fixed the cost of healthcare with an HSA model and never done the later. And if he planned to do the latter he should have explicitly said so. My guess is he calculated he never would have gotten enough support if he had been honest to his constituents. Does that make it right? Is it ever right to deceive people into giving you what you want? Evidently many people do think that this kind of corrupt behavior is acceptable as long as they get what they want because the deception of others isn’t an issue with them. They seem to be fine with it.

        The preexisting conditions issue is a bit more difficult to solve without supplementing people that do not make enough money to buy insurance because once you know that you can get insurance on the fly and they cannot deny you then why have it until you need it. And thus the problem cannot be solved without forcing people to get insurance.

      • If you were in the 5th grade I'd say this was a great post. Of course the congress should work together. But the fact is they don't because mainstream Republicans are scared to death of the Tea Party Republicans. Obamacare IS a compromise. It was originally a REPUBLICAN idea rejected by the Clintons. Just shows how far this country has moved to the right. Democrats now occupy what used to be moderate Republican positions.

    • ACA (ObamaCare) is as corrupt and destructive as any single piece of legislation in US history.
      Watch and learn.........

    • What I said was that you are still able to buy any insurance you want. You don't HAVE to buy it through the exchange. If you want the credit then you have to go through the exchange. But you still have right to buy insurance regardless of preexisting condition which wasn't the case before. And you are not forced to use the exchange. The only thing you're forced to do is get insurance if you don't have it. I get mine through the VA. I did not have to go to the exchange. I would urge anyone who has served and is not going to the VA and doesn't have insurance to go to the VA.

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