Obamacare Created a Market for Junk Insurance

[somarco]

Six years after Obamacare was fully implemented we STILL have a proliferation of JUNK insurance plans. The president declared TRUE major medical plans to be INFERIOR because, among other things, they did not cover maternity, "free birth control" (for women only), pre-existing conditions and "free" annual exams.


A man in Miami went to Jackson Memorial Hospital last month to receive a test for coronavirus after developing flu-like symptoms. He didn't have the virus, but he was hit with a $3,270 medical bill, according to the Miami Herald.

A few weeks after leaving Jackson Memorial Hospital, Mr. Azcue received a $3,270 medical bill. Though he was insured, Mr. Azcue had a so-called "junk plan," which offered limited benefits and didn't cover pre-existing conditions.

Based on his insurance plan, Mr. Azcue is responsible for $1,400 of the bill, hospital officials told the Miami Herald. However, to get the claim covered, Mr. Azcue said his insurance company requested three years of medical records to show that his flu didn't relate to pre-existing conditions.

Miami man with 'junk plan' owes thousands after hospital visit for coronavirus symptoms: A man in Miami went to Jackson Memorial Hospital last month to receive a test for coronavirus after developing flu-like symptoms. He didn't have the virus, but he was hit with a $3,270 medical bill, according to the Miami Herald.    

 

[aikenhealth]

I find it amazing that people don't understand with the premiums of Obamacare and even aca-compliant group shooting through the roof in the case of Obamacare plans if you have a decent income the premiums could be anywhere from $900 to $1,500 a month with a $6,000 deductible. Let us not forget the enrollment window was small and quite frankly healthy people cannot afford those payments. I know the word "junk" Insurance is tossed around but they are some very strong very heavy paying "Department of Insurance" approved defined benefit plans out there run through PPO networks that I personally have seen reduce then pay huge claims. Is Major Medical always preferable? If you can afford it but let us not forget one of the Clauses in Obamacare as of January one 2014 was that all "cost incurred insurance" was illegal to buy or sell to individuals - that means "major medical" - they outlawed it on purpose. What the hell do you expect people to do? Out of 350 million Americans only 9 million actually pay for Obamacare the rest is free expansion of Medicaid in Blue states and all the rest of us have got to find something that will help. If you go to the emergency room you're going to be charged 4x times more than what you need to be charged because they will test you for everything to advoid a lawsuit - I am not a big believer in the sharing programs because they're not insurance and they're not authorized by the Department of Insurance pretty much anywhere. But there are some very good defined benefit plans that are nationwide phcs PPO and I've seen pay $50,000 - $60,000 claims after pop reduction so I'm not letting my clients twist in the wind with nothing and I'm not crazy about short-term they also have a high premium and deductible that's got to be met up front and I am not so sure about coverage rolling over to keep covering you if anything happens to you in the middle of the coverage - that is still questionable- but it's easy to post things about how everything that's not aca-compliant is a junk plan but it sure as hell is better than nothing - especially when the ppo actually reduces the initial claim - I am sure someone will jump on here and say oh well how about a million-dollar cancer claim? I've been doing this is 2004 I have 600 clients in my portfolio I have never seen a $1million dollar medical claim and I've dealt with cancer, heart attack and stroke claims - never seen one exceed $600,000- million dollar claims do happen but they generally happen over age 65 or if there's already been a major birth defect or some kind of preemie problem maybe I've been lucky but I'm certainly going to give my clients something something that I have seen work and that I even put on myself versus paying that thousand a month Obamacare wanted me to pay

 

[shonceman]

I find it amazing that people don't understand with the premiums of Obamacare and even aca-compliant group shooting through the roof in the case of Obamacare plans if you have a decent income the premiums could be anywhere from $900 to $1,500 a month with a $6,000 deductible. Let us not forget the enrollment window was small and quite frankly healthy people cannot afford those payments. I know the word "junk" Insurance is tossed around but they are some very strong very heavy paying "Department of Insurance" approved defined benefit plans out there run through PPO networks that I personally have seen reduce then pay huge claims. Is Major Medical always preferable? If you can afford it but let us not forget one of the Clauses in Obamacare as of January one 2014 was that all "cost incurred insurance" was illegal to buy or sell to individuals - that means "major medical" - they outlawed it on purpose. What the hell do you expect people to do? Out of 350 million Americans only 9 million actually pay for Obamacare the rest is free expansion of Medicaid in Blue states and all the rest of us have got to find something that will help. If you go to the emergency room you're going to be charged 4x times more than what you need to be charged because they will test you for everything to advoid a lawsuit - I am not a big believer in the sharing programs because they're not insurance and they're not authorized by the Department of Insurance pretty much anywhere. But there are some very good defined benefit plans that are nationwide phcs PPO and I've seen pay $50,000 - $60,000 claims after pop reduction so I'm not letting my clients twist in the wind with nothing and I'm not crazy about short-term they also have a high premium and deductible that's got to be met up front and I am not so sure about coverage rolling over to keep covering you if anything happens to you in the middle of the coverage - that is still questionable- but it's easy to post things about how everything that's not aca-compliant is a junk plan but it sure as hell is better than nothing - especially when the ppo actually reduces the initial claim - I am sure someone will jump on here and say oh well how about a million-dollar cancer claim? I've been doing this is 2004 I have 600 clients in my portfolio I have never seen a $1million dollar medical claim and I've dealt with cancer, heart attack and stroke claims - never seen one exceed $600,000- million dollar claims do happen but they generally happen over age 65 or if there's already been a major birth defect or some kind of preemie problem maybe I've been lucky but I'm certainly going to give my clients something something that I have seen work and that I even put on myself versus paying that thousand a month Obamacare wanted me to pay

Hey, man. Pause and take a breath every now and then!

 

[rousemark]

Six years after Obamacare was fully implemented we STILL have a proliferation of JUNK insurance plans. The president declared TRUE major medical plans to be INFERIOR because, among other things, they did not cover maternity, "free birth control" (for women only), pre-existing conditions and "free" annual exams.


A man in Miami went to Jackson Memorial Hospital last month to receive a test for coronavirus after developing flu-like symptoms. He didn't have the virus, but he was hit with a $3,270 medical bill, according to the Miami Herald.

A few weeks after leaving Jackson Memorial Hospital, Mr. Azcue received a $3,270 medical bill. Though he was insured, Mr. Azcue had a so-called "junk plan," which offered limited benefits and didn't cover pre-existing conditions.

Based on his insurance plan, Mr. Azcue is responsible for $1,400 of the bill, hospital officials told the Miami Herald. However, to get the claim covered, Mr. Azcue said his insurance company requested three years of medical records to show that his flu didn't relate to pre-existing conditions.

Miami man with 'junk plan' owes thousands after hospital visit for coronavirus symptoms: A man in Miami went to Jackson Memorial Hospital last month to receive a test for coronavirus after developing flu-like symptoms. He didn't have the virus, but he was hit with a $3,270 medical bill, according to the Miami Herald.

I don't care for the indemnity plans but in this case, if he had one of the typical ACA plans, he would have owed even more due to the large deductible most of them have. On smaller claims, the "junk" plans will do as good or even better than the Major meds. But if he had had a $100,000+ claim, he would be hurting with the indemnity plan.

 

[DayTimer]

Six years after Obamacare was fully implemented we STILL have a proliferation of JUNK insurance plans. The president declared TRUE major medical plans to be INFERIOR because, among other things, they did not cover maternity, "free birth control" (for women only), pre-existing conditions and "free" annual exams.

Obamacare sucks. Three words will fix this mess:

Medicare for all​

 

[Chazm]

Obamacare sucks. Three words will fix this mess:

Medicare for all​

with Medicare for all I pay way more. Why should I be penalized for being youngish and healthy?

I pay $300/month for a grandfathered plan with a $250 ded and $2500 moop.

with Medicare for all I’ll probably spend an extra $1k per month in taxes. No thanks.

 

[DayTimer]

Why should I be penalized

It's not all about you, Chaz

 

[Yagents]

with Medicare for all I pay way more. Why should I be penalized for being youngish and healthy?

I pay $300/month for a grandfathered plan with a $250 ded and $2500 moop.

with Medicare for all I’ll probably spend an extra $1k per month in taxes. No thanks.

You are way way way over insured buddy. I dont have one GF client close to that deductible and oop. Raise it if you can.

My 2 cents. Maybe LD will provide his sick sense. Or 6 cents.

 

[Yagents]

Owning ONLY an indemnity plan is a mistake and waste of money.

Owning STM is better than being uninsured. STM PPO networks are superior to ACA HMOs. A pickle.

STM saved one of my clients life after cancer diagnosis. Paid out at least 250k over 4 months, and he got best care options possible. ACA, not so much with local HMO.

You can blow thru a million within just 6 months easily. You're rolling dice with lives with indemnity only.

You cant insure the small and medium costs effectively. Except accident indemnity paired with major medical.

 

[goillini52]

Obamacare sucks. Three words will fix this mess:

Medicare for all​

They used to say that that was their intent...for O'bamacare to fail into a Single Payor system.