Perspective: Overlooked Obamacare Opportunities

 
Perspective: Overlooked Obamacare Opportunities

Saying anything slightly positive about President Obama, the IRS or the EPA can destroy “true conservative” credentials. Maybe it would help for someone with nothing to lose to point out some possible advantages of another favorite target, Obamacare:

1. Guaranteed Insurability. For the vast majority with health insurance coverage, this life-changing regulation means nothing until it means everything. Your insurance company folds or sells; your spouse loses the benefit-providing job; your daughter can’t find full-time work after graduation; etc.

[VIDEO] John Phipps Explains How to Shop HealthCare.gov

2. Community Rating. Individual policies often saw sharp premium increases as the “assigned group” aged. Switching to another policy or group was seldom allowed. Insurers are now limited to a 3x factor for premium differences based on age. The only other factors that can be used are tobacco use, location and family size. 

3. No Lifetime or Annual Limits (Essentially). This seems trivial until your second surgery, a major accident or a premature baby.

4. Drug Coverage. Optional dental and vision plans for children. No rescission. Preventative services. Out-of-pocket maximums of $13,000 per family. No gender discrimination.

Unsung Subsidies. Many of these features are universal, but not all. If you are on an older policy, it might be grandfathered, exempting the insurer from some of these benefits and rules—all the more reason to shop the exchanges. Most importantly, neither insurers nor government will get you in the optimal coverage. It’s up to you.

Obamacare primarily regulates the health insurance industry, not the health care industry, something often lost in political rhetoric. Those who label it socialized medicine probably haven’t shopped healthcare.gov. Compared to USDA—Risk Management Agency and crop insurance, it’s practically libertarian. (Seriously, a handful of identical yield and revenue products at identical prices?)

The big change for ag is familiar: subsidies. Thanks to the rock of cash rent and the hard place of input prices, our formerly ample cash income could be meager in 2015. Sadly, qualifying for a health insurance subsidy might be likelier than an ARC-CO payment. For a family of four with income of $95,000, this could mean a 15% break. At $50,000 income, subsidies could cover nearly 70% of the premium. The ag media did not stress this strategy in time for 2015 sign up, so now, we’re talking about 2016. 

Set Ideology Aside. One hurdle is the horror of abandoning even poor insurance. To be fair, returning to this peril is not impossible, so refusing to choose better coverage might seem like a hedge. If your state has no exchange, the U.S. Supreme Court could endanger your subsidies, as well.

My advice to Obamacare neophytes, especially those over 50, is to surf to healthcare.gov., click on “Get Covered/Shop Plans and Prices” and see what options you have. The only personal info required is your ZIP code, age and smoking status. 

If you are unlucky, you might find a way to match or even improve your coverage at lower costs. At that point, it’s dogma-eat-dogma: economics or politics? You might struggle with the choices: Lower premiums or lower deductibles? Big network or lower cost? How much co-pay? The jump from no options to several can be jarring, but it indicates a freer market.

Frankly, in an industry that demands government-subsidized crop insurance, the opposition to similar support for health insurance baffles me. Perhaps until you’re affected by a health expense crisis, such benefits look like undeserved welfare. Ideological principles might inhibit farmers from considering opportunities Obamacare can offer. However, a visit to the exchange, if only to window shop, can reveal the price of those scruples. 

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Comments

 
Spell Check

Duane
Chatham, IL
4/6/2015 10:55 PM
 

  You misspeak....our industry doesn't "demand" subsidized crop insurance. As a matter of fact, we didn't even ask for it! Not a farmer I know would complain if all govt. programs were removed from ag completely

 
 
Mike
New Richland, MN
4/21/2015 11:12 AM
 

  This article is crap to say the least! Duane, you're dead on with the subsidies. My deductible has gone up in the last two and a half years (5,000) and the premium tripled from $100 to $300 a month! I'm a single healthy 30 year old man. I would have to spend almost 10k in medical expenses a year to get full benefit. And likewise EVERYONE I know has had the same issues. Just to afford the insurance i had to lower last year's income so i could get on MN's subsidized program and get me off of the high premiums. I've always bought my own insurance with dignity through the open market when an average middle class person could afford it, before obamacare. Now what good does it benefit this country as a whole if me and many others are having to bum off the rest of you through subsidies. Does that not hurt all parties? Robin hood was a thief, and subsidies are a modern day version of that. You can't force charity, that's called socialism. And it does not work. So how has obamanationcare helped? It's taken away from our free market and the capitalistic ideology or system that has built this country. And yes Obama i did build that. And likewise since when did it become unconstitutional or illegal to not carry health insurance? So much for land of the free. And that's not socialist, if not communist? Mr. Author, who ever you are, go back to Cuba and take your obamacare with you. We were a thousand times better off in the Healthcare industry before Obama ever got involved.

 
 
Douglas Toavs
Chisago City, MN
4/6/2015 07:10 AM
 

  Thanks for providing good, usable information.

 
 

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