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The Five Myths of ObamaCare

1. Myth: The health care law provides universal coverage: The health care law will greatly reduce the amount of people uninsured but it will not cover EVERYONE. It is said that by 2019 there will still be 23 million people uninsured and that that number will continue to rise.

2. Myth: If you like your current insurance plan you can keep it: According to a leaked administration memorandum a majority of companies and small businesses will be forced to change their current insurance plans. The fact that the law states that you must follow certain guidelines regarding your insurance plan will definitely play a big part in whether people keep their current insurance plan or are forced to change it.

3. Myth: The health care law reduces the deficit: The Congressional Budget Office had originally stated that the health care bill will cost approximately $950 billion and repealing the law would cost an additional $230 billion. What the Congressional Budget Office didn’t tell you about are several more costs that weren’t included in the $950 billion projection. Implementation costs (to be approximately $115 billion) such as hiring new IRS agents is just one of these hidden costs.

4. Myth: The health care law will reduce your premiums: Not only does the CBO say that insurance premiums will rise for the next 6-10 years but that the rate at which it will increase will also rise. Estimations on the new premiums say they’ve already increased by 7 to 9 %.

5. Myth: The health care law is consumer friendly: “Sure, there are some consumer reforms in the bill that will benefit some people, but at a price. For example: parents can now keep their children on their insurance plans until age 26. The Department of Health and Human Services estimates that it will cost an estimated $3,380 a year per child. Employers are balking at picking up the added cost, so the parents themselves will have to pay more if they want to continue their children’s coverage. Insurers can no longer refuse coverage to children with preexisting conditions. In response, insurers in Colorado, Ohio, and Missouri, among others, have stopped offering child-only insurance plans, depriving thousands of Americans of an inexpensive coverage option. Insurers are also prohibited from imposing annual or lifetime coverage limits. This provision has proved so onerous that the administration has been forced to issue more than 100 waivers to prevent companies from dropping their employees’ coverage altogether.”

Source:

OC Register

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Contact me for any questions you may have regarding your insurance

Mike Spicer / 714-255-5650 / mike@allcountyins.com

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