Each day there seems to be a new challenge before us.
I know people who are absolutely terrified that as the Affordable Care Act (ACA) becomes a reality that they are going to be devastated by insurance costs.
It is a real issue, and although there are those that think it is the solution, it is certainly my belief that it will create more problems than it will cure.
Let me give you a handful of scenerios that are unfolding now.
From a CNN report it states that several employers including UPS, Delta and University of Virginia have recently cited Obamacare as a source of increased costs.
UPS and the University of Virginia will no longer provide benefits for spouses with coverage options elsewhere.
Trader Joe's and Home Depot are shifting part-time workers to the Obamacare exchanges.
Some companies are making major changes that aren't directly related to Obamacare, but embrace the idea of health insurance exchanges.
IBM and Time Warner are moving retirees to private exchanges, while Walgreen’s is shifting all its employees to a private exchange next year.
These are just a few of the companies in the process or already making changes.
I know people who have already received word that their insurance is being cancelled and those people are being sent to the Health Care Exchange for insurance.
Here is an example in a Washington Post story of this same scenario:
After receiving a letter from her insurer that her plan was being discontinued, Deborah Persico, a 58-year-old lawyer in the District, found a comparable plan on the city’s new health insurance exchange.
But her monthly premium, now $297, would be $165 higher, and her maximum out-of-pocket costs would double.
Under the ACA there are four plans, with the least expensive plan picking up 60 percent (Bronze) and the most expensive plan picking up 90 percent, plus each plan has co-payments and deductibles as well.
It is all fairly complicated if you do not understand health insurance.
One example would be a 50-year old – and depending on his choice of plans – who will more than likely see his premium increase with less benefits than his current coverage.
I realize this whole ordeal has become a political platform and that there is so much unreliable information on both sides floating around and so much speculation as to the future effects that it is hard to sift through all the malarkey.
I personally believe we need health care reform, but at the same time we don’t need to do it on the backs of those who have worked all their lives and paid premiums for their health insurance like I have.
It is also proving out that many millions of people are losing their health insurance and having to face fines or higher premiums.
You can blame whomever you wish, the insurance companies that are dropping clients, companies that are changing employee benefits, or the ACA.
The reality is that there are a lot of people that are going to be in a heck of dilemma, no matter how this plays out, including me.
May I suggest if you have not already done this that you go to the website www.healthcare.gov and learn as much about the ACA as you can.