OT - Health Insurance Question
+ Reply to Thread
Page 1 of 3 123 LastLast
Results 1 to 10 of 23
Like Tree1Likes

Thread: OT - Health Insurance Question

  1. #1
    Community Host
    Join Date
    Aug 2006
    Posts
    13,547

    Default OT - Health Insurance Question

    Not a debate, just asking for my personal information. (Because this is such a nice group of smart ladies

    After the new healthcare law takes effect, if your employer decides not to offer insurance (and pays the penalty), but you are Middle Class with medical conditions, how will you have insurance?

    ~Bonita~

  2. #2
    Posting Addict SID081108's Avatar
    Join Date
    Mar 2008
    Posts
    6,237

    Default

    Quote Originally Posted by AlyssaEimers View Post
    Not a debate, just asking for my personal information. (Because this is such a nice group of smart ladies

    After the new healthcare law takes effect, if your employer decides not to offer insurance (and pays the penalty), but you are Middle Class with medical conditions, how will you have insurance?
    If your employer decides not to offer medical insurance, they will instead pay a penalty to the government, and you will recieve a voucher, which you will use to buy health insurance from the state exchanges. The voucher will essentially be like your employer's contribution toward your health insurance purchase in the exchanges, and the exchanges will be kind of like buying health insurance in the open market, only supposedly cheaper than it is today. There are still many unanswered questions about the state health care exchanges.

    The government is, however, making it VERY easy for employer's to opt out of providing health insurance. I'm the Benefits Director for a company with about 1,400 employees and for us it would be substantially cheaper to opt out. However, maintaining an employer insurance plan helps to make you an employer of choice until everyone opts out, if it ever gets to that point.

    ETA: I just noticed that you mentioned medical conditions...the plans in the exchanges will not be able to exclude you because of that. You may pay a slightly higher premium than a "healthy" person, but they will be severly limited as to the penalty they can charge for underwriting markups.
    Last edited by SID081108; 12-21-2012 at 12:27 PM.
    CARRIE and DH 7/14/07
    SOPHIA 8/11/08
    LAYLA 3/24/11


  3. #3
    Community Host
    Join Date
    Aug 2006
    Posts
    13,547

    Default

    Thanks. So you still would be able to get health insurance even if you are not below the poverty line? What about if you were to have 2 part time jobs that equaled more than full time hours? Would you as an individual be able to buy health insurance? Or as a SAHM, would you be able to buy your own insurance?

    (DH is trying to make job decisions for the future, and who will offer what is a big factor)

    ~Bonita~

  4. #4
    Community Host
    Join Date
    Aug 2006
    Posts
    13,547

    Default

    Quote Originally Posted by AlyssaEimers View Post
    Thanks. So you still would be able to get health insurance even if you are not below the poverty line? What about if you were to have 2 part time jobs that equaled more than full time hours? Would you as an individual be able to buy health insurance? Or as a SAHM, would you be able to buy your own insurance?

    (DH is trying to make job decisions for the future, and who will offer what is a big factor)

    ETA - What if you were self employed, for example you free lanced, but worked for yourself?

    ~Bonita~

  5. #5
    Posting Addict SID081108's Avatar
    Join Date
    Mar 2008
    Posts
    6,237

    Default

    Quote Originally Posted by AlyssaEimers View Post
    Thanks. So you still would be able to get health insurance even if you are not below the poverty line? What about if you were to have 2 part time jobs that equaled more than full time hours? Would you as an individual be able to buy health insurance? Or as a SAHM, would you be able to buy your own insurance?

    (DH is trying to make job decisions for the future, and who will offer what is a big factor)
    Yes, everyone will be able to buy in the state exchanges. The only difference is how much your voucher will be for (which will reduce your out of pocket premium), and that will all be determined by your family income, and if you have coverage available elsewhere.

    Even if you have coverage available through an employer, if they charge too much for it relative to your family's W2 income, you may be eligible for a voucher to purchase less expensive insurance through the exchanges. But most employers are making sure their premiums are just under that level so that they don't have to pay those penalties on any of their existing employees, while still offering a health plan (double whammy)
    Last edited by SID081108; 12-21-2012 at 12:33 PM.
    CARRIE and DH 7/14/07
    SOPHIA 8/11/08
    LAYLA 3/24/11


  6. #6
    Community Host
    Join Date
    Aug 2006
    Posts
    13,547

    Default

    So hypothetically, if a self employed person made $50,000/year with a family of 5, how much would they pay for insurance?

    ~Bonita~

  7. #7
    Posting Addict SID081108's Avatar
    Join Date
    Mar 2008
    Posts
    6,237

    Default

    Oh and just to clarify, because I know all of this is so confusing, anyone will be able to buy in the state exchanges, but you will only receive a government voucher if you meet the income guidelines (I'm not sure what those are at this point) or if you work for an employer that is required to offer health insurance but chooses to opt out and instead pay the penalties. So if a self-employed person purchases insurance in the exchange, they will pay for it in full themselves, just as if they were purchasing in the individual market today, except that the plans are supposed to be less expensive.
    CARRIE and DH 7/14/07
    SOPHIA 8/11/08
    LAYLA 3/24/11


  8. #8
    Posting Addict SID081108's Avatar
    Join Date
    Mar 2008
    Posts
    6,237

    Default

    Quote Originally Posted by AlyssaEimers View Post
    So hypothetically, if a self employed person made $50,000/year with a family of 5, how much would they pay for insurance?
    No one knows the answer to this, unfortunately.
    CARRIE and DH 7/14/07
    SOPHIA 8/11/08
    LAYLA 3/24/11


  9. #9
    Community Host
    Join Date
    Aug 2006
    Posts
    13,547

    Default

    Quote Originally Posted by SID081108 View Post
    No one knows the answer to this, unfortunately.
    Thanks anyway for your help.

    ~Bonita~

  10. #10
    Posting Addict GloriaInTX's Avatar
    Join Date
    Jul 2008
    Location
    Dallas, TX
    Posts
    7,599

    Default

    Quote Originally Posted by SID081108 View Post
    The government is, however, making it VERY easy for employer's to opt out of providing health insurance. I'm the Benefits Director for a company with about 1,400 employees and for us it would be substantially cheaper to opt out. However, maintaining an employer insurance plan helps to make you an employer of choice until everyone opts out, if it ever gets to that point.
    They are making it easy because that is their ultimate goal, to get everyone off their employers insurance and onto the government plan.
    Mom to Lee, Jake, Brandon, Rocco
    Stepmom to Ryan, Regan, Braden, Baley
    Granddaughters Kylie 10/18/2010 & Aleya 4/22/2013


    I never consider a difference of opinion in politics, in religion, in philosopy, as a cause for withdrawing from a friend. --Thomas Jefferson

+ Reply to Thread
Page 1 of 3 123 LastLast

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
v -->

About Us | Contact Us | Privacy Policy | Sitemap | Terms & Conditions