Author Topic: Obamacare Master thread  (Read 79085 times)

Offline PlatinumGuy

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Re: Obamacare Master thread
« Reply #705 on: May 09, 2021, 12:37:14 PM »
NY has had community rating ever since I can remember. The rates that @Dan posted for his plans would have been a remote dream in NY. Also in NY there's no difference between 1 child and 20 children in a family.
What’s stopping a company in Switzerland from offering a NYS resident a plan like that? Lack of negotiating power with the hospitals & providers? That’s a big argument against price transparency...
״וזה כלל גדול: שישנא אדם כל דבר שקר. וכל מה שיוסיף שנאה לדרכי השקר – יוסיף אהבה לתורה.״ - אורחות צדיקים

Offline ExGingi

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Re: Obamacare Master thread
« Reply #706 on: May 09, 2021, 12:52:48 PM »
What’s stopping a company in Switzerland from offering a NYS resident a plan like that? Lack of negotiating power with the hospitals & providers? That’s a big argument against price transparency...

One of the big arguments against Obamacare was that it didn't allow cross-border competition. Let the states compete with their insurance regulations and let anyone buy from whichever state suits them.

There are no NY individual plans that offer out of network coverage, and most will not cover out of state, as they have created more limited networks since the advent of Obamacare.
I've been waiting over 5 years with bated breath for someone to say that!
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Offline PlatinumGuy

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Re: Obamacare Master thread
« Reply #707 on: May 09, 2021, 12:56:39 PM »
One of the big arguments against Obamacare was that it didn't allow cross-border competition. Let the states compete with their insurance regulations and let anyone buy from whichever state suits them.

There are no NY individual plans that offer out of network coverage, and most will not cover out of state, as they have created more limited networks since the advent of Obamacare.
How does that stop offshore companies?
״וזה כלל גדול: שישנא אדם כל דבר שקר. וכל מה שיוסיף שנאה לדרכי השקר – יוסיף אהבה לתורה.״ - אורחות צדיקים

Offline Dan

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Re: Obamacare Master thread
« Reply #708 on: May 09, 2021, 12:58:00 PM »
Economically, it seems like you’d be much better off with a $50k+ deductible. I guess that’s made illegal by Obamacare because then you wouldn’t be paying in to the system enough to pay for sicker people?

Or it just market forces making it unattractive for insurers to offer higher deductibles?
I get to write off the deductible and health expenses via HSA.
I think the max HSA deductible allowed is $14K, but locally I don't see plans higher than $10K.
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Offline Dan

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Re: Obamacare Master thread
« Reply #709 on: May 09, 2021, 01:02:33 PM »
NY has had community rating ever since I can remember. The rates that @Dan posted for his plans would have been a remote dream in NY.
Really?
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Offline PlatinumGuy

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Re: Obamacare Master thread
« Reply #710 on: May 09, 2021, 01:04:19 PM »
I get to write off the deductible and health expenses via HSA.
I think the max HSA deductible allowed is $14K, but locally I don't see plans higher than $10K.
Maybe brokers would have access to plans with lower premiums and higher deductibles?

If you could get on an offshore plan and stop subsidizing care for others, it could be worth losing the deduction if it goes over $14k
״וזה כלל גדול: שישנא אדם כל דבר שקר. וכל מה שיוסיף שנאה לדרכי השקר – יוסיף אהבה לתורה.״ - אורחות צדיקים

Offline ExGingi

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Re: Obamacare Master thread
« Reply #711 on: May 09, 2021, 01:12:10 PM »
2021: 2 adults, 4 children

$1,500/person deductible/$3,000 family deductible =$27,210/year premium (+8.7%)
$3,000/person deductible/$6,000 family deductible = $21,829/year premium (+8.6%)
$4,000/person deductible/$8,000 family deductible= $19,411‬/year premium (+8.6%)
$5,000/person deductible/$10,000 family deductible = $16,476/year premium  (+8.6%)

Compare this to the lowest priced HSA compatible plan in Kings County, NY (which is actually new for 2021, prior years didn't have competitive HSA plans):



Or the next lowest priced HSA compatible plans:


There are no Silver or Gold HSA compatible plans on the individual marketplace. Those might be available for employer groups.
« Last Edit: May 09, 2021, 01:16:11 PM by ExGingi »
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Offline PlatinumGuy

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Re: Obamacare Master thread
« Reply #712 on: May 09, 2021, 02:10:46 PM »
To illustrate what the real cost of insurance is without paying for sicker people, this company offers insurance for families like @Dan’s in the US for $2700/yr with a $10k deductible and $1m max / $3100/yr $5m max. No ‘network’, any care provider is covered...

But has this language to exclude most Americans
Quote
To qualify as an “expatriate health plan,” substantially all of the primary enrollees must be “qualified expatriates.” A “qualified expatriate” is a primary insured meeting all of the following:

Qualified Expatriates in the U.S.:

The individual’s skills, qualification, job duties, or expertise is of a type that has caused the employer to assign him to the U.S. for a specific temporary purpose or assignment tied to employment; and

In connection with such transfer or assignment, the plan sponsor reasonably determines that the individual will require access to health insurance in multiple countries, and is offered other multi-national benefits on a periodic basis (e.g., tax equalization benefits, cross-border moving expenses, compensation to enable the expatriate to return to his home country);

https://purchase.imglobal.com/Purchase/global_medical/insured-demographic


I wonder if there is an offshore company that doesn’t exclude normal US citizen residents...
« Last Edit: May 09, 2021, 02:18:00 PM by PlatinumGuy »
״וזה כלל גדול: שישנא אדם כל דבר שקר. וכל מה שיוסיף שנאה לדרכי השקר – יוסיף אהבה לתורה.״ - אורחות צדיקים

Offline Dan

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Re: Obamacare Master thread
« Reply #713 on: May 09, 2021, 02:13:46 PM »
Compare this to the lowest priced HSA compatible plan in Kings County, NY (which is actually new for 2021, prior years didn't have competitive HSA plans):



Or the next lowest priced HSA compatible plans:


There are no Silver or Gold HSA compatible plans on the individual marketplace. Those might be available for employer groups.
Wow. I guess I'm getting a deal :P
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Offline ExGingi

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Re: Obamacare Master thread
« Reply #714 on: May 09, 2021, 02:23:40 PM »
Wow. I guess I'm getting a deal :P

No word about the pros of CLE? Was your account sold/hacked?  :P

If anything Obamacare is becoming the great equalizer, more and more localities are going to face what New Yorkers have faced for years. If you are able to buy any plan with any Out of Network benefits, consider yourself lucky. Individual plans in NY don't have that (I am referring to downstate NY, IDK what goes on further upstate or Western NY).

2021 is the first year since the NY Individual Marketplace has been in operation that I have seen HSA compatible plans that actually make sense (in comparison to non HSA compatible plans).
I've been waiting over 5 years with bated breath for someone to say that!
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Re: Obamacare Master thread
« Reply #715 on: May 09, 2021, 02:33:51 PM »
If anything Obamacare is becoming the great equalizer, more and more localities are going to face what New Yorkers have faced for years.

Like most equalizers, it makes everyone have equally bad options.
Feelings don't care about your facts

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Re: Obamacare Master thread
« Reply #716 on: May 09, 2021, 02:42:05 PM »
Like most equalizers, it makes everyone have equally bad options.

Yup. Usually, the term "the great equalizer" refers to a shotgun, a machete or something of sorts.
I've been waiting over 5 years with bated breath for someone to say that!
-- Dan