Obamacare Good, Bad and Ugly

Obamacare is good, bad and ugly . . . all at the same time. Anyone can now have health insurance but what if only the sick ones apply? Why did PCIP go away and where did it go wrong? Is COBRA still an option? obamacare good bad ugly

Which is better, COBRA or Obamacare?

Obamacare is a polarizing topic. Most hate it, some love it, few are indifferent. Setting politics aside, let’s look at what is right, what is wrong and what is disastrous.

My personal (and professional) opinion is that the law is a disaster. Ill conceived (but with good intention) Obamacare was drafted by people who have no idea how health insurance works. These are the same folks that decided it was a good idea to force banks to give everyone a mortgage, regardless of their ability to replay the loan.

Now Congress has decided to tell health insurance carriers to offer health insurance to anyone without regard for the ability to pay their premiums and to ignore the normal risk calculation model that has worked well for over 100 years.

Obamacare will start to disintegrate by the middle of 2014 and will be completely gone by the end of 2016.

But for now we have to deal with the fallout of Obamacare.


Obamacare, The Good

In just the last few weeks I have helped people find affordable coverage OUTSIDE of the exchange. Everyone of them would not have been able to purchase health insurance if not for Obamacare. One person will have her arrthitic hip replaced. Another will have surgery to remove a cancerous tumor.

Several others were on high risk plans especially designed for someone with a pre-existing condition. Because of Obamacare, those plans were discontinued.

PCIP, the presidents Pre-existing Condition Insurance Plan ran out of money in March of 2013 and stopped taking new applications. Anyone needing health insurance had to wait until October and sign up for a plan for a January, 2014 effective date.

Makes you wonder how long Obamacare will be around.


Obamacare, the Bad

While the government expects 5 million to sign up for coverage during the initial enrollment period, an estimated 15 to 90 million will LOSE their health insurance because of Obamacare.

If you like your health insurance plan, too bad. You can’t keep it.

Almost without exception premiums under Obamacare are rising. Same for deductibles and out of pocket maximums. If you buy your Obamacare plan on the exchange don’t plan on keeping your current doctor. He or she probably will not participate in exchange based Obamacare health insurance plans.

PCIP is no longer needed. COBRA is still law but now you have a choice.


Obamacare, The Ugly

Obamacare, good, bad and ugly.

What is ugly about Obamacare? Where do I start?

The non-working $600 million website? Charity hospitals that will reduce staff and services. In some cases hospitals on the fringe will close because of Obamacare.

Businesses have closed, laid off employees and cut hours because of Obamacare. More closures, layoffs and reductions will come.

When Obamacare crashes and burns, and it will, I wonder how much money will have been wasted, how many people will be worse off than before. “Fixing” the problems with health insurance could have been accomplished a lot quicker, with less money, less turmoil and better results.

Obamacare can be good, but there is more bad and REAL ugly.