taft2012
07-07-2012, 08:16 AM
Catastrophic health insurance is an option that makes sense for many people who buy their own health insurance, quite often small business owners.
One can buy a family catastrophic health insurance plan for $1K to $3K per annum, as opposed to comprehensive plans that can run from $10K to $15K per annum. Even if you have to visit the doctor's office once a month, paying the $50 to $100 per office visit would only cost you an additional $600 to $1200 per annum. You still come out way ahead of buying the comprehensive policy.
However, that sensible option is being killed by Obamacare. Healthy people/families who opt for this form of coverage will not be considered as "insured" under Obamacare and will be forced to pay the tax/penalty. This will essentially kill the catastrophic option by doubling its costs.
Remember Obama saying you can keep your health insurance if you like it? A lie.
Remember Obama saying no tax penalty if you're insured? Another lie.
http://legalinsurrection.com/2012/03/elizabeth-warren-linked-to-ruin-of-low-cost-catastrophic-health-insurance/
There is no doubt that many people are forced into financial difficulty and even bankruptcy (which of course wipes out the medical debt) by catastrophic illness.
A simple answer would be to create incentives for insurance companies to offer catastrophic health insurance policies at low rates. High deductible policies would be one such device, which relatively cheaply would prevent catastrophic medical bills.
Much like umbrella liability policies, catastrophic health policies would be affordable because they only would kick in in a relatively small number of cases, yet would protect against medical bills causing financial ruin.
These catastrophic policies will not qualify as coverage under Obamacare, which emphasizes all encompassing policies with low or no deductibles (e.g., contraception). Because the mandatory policies are loaded with the types of coverages which are not related to catastrophic costs, all policies rise in cost and fewer people can afford any coverage.
Elizabeth Warren’s June 2009 medical bankruptcy study did not “cause” Obamacare and the elimination of relatively low cost private catastrophic health insurance, but Warren is “linked” to such ruin.
One can buy a family catastrophic health insurance plan for $1K to $3K per annum, as opposed to comprehensive plans that can run from $10K to $15K per annum. Even if you have to visit the doctor's office once a month, paying the $50 to $100 per office visit would only cost you an additional $600 to $1200 per annum. You still come out way ahead of buying the comprehensive policy.
However, that sensible option is being killed by Obamacare. Healthy people/families who opt for this form of coverage will not be considered as "insured" under Obamacare and will be forced to pay the tax/penalty. This will essentially kill the catastrophic option by doubling its costs.
Remember Obama saying you can keep your health insurance if you like it? A lie.
Remember Obama saying no tax penalty if you're insured? Another lie.
http://legalinsurrection.com/2012/03/elizabeth-warren-linked-to-ruin-of-low-cost-catastrophic-health-insurance/
There is no doubt that many people are forced into financial difficulty and even bankruptcy (which of course wipes out the medical debt) by catastrophic illness.
A simple answer would be to create incentives for insurance companies to offer catastrophic health insurance policies at low rates. High deductible policies would be one such device, which relatively cheaply would prevent catastrophic medical bills.
Much like umbrella liability policies, catastrophic health policies would be affordable because they only would kick in in a relatively small number of cases, yet would protect against medical bills causing financial ruin.
These catastrophic policies will not qualify as coverage under Obamacare, which emphasizes all encompassing policies with low or no deductibles (e.g., contraception). Because the mandatory policies are loaded with the types of coverages which are not related to catastrophic costs, all policies rise in cost and fewer people can afford any coverage.
Elizabeth Warren’s June 2009 medical bankruptcy study did not “cause” Obamacare and the elimination of relatively low cost private catastrophic health insurance, but Warren is “linked” to such ruin.