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View Diary: Obama Apologizes For People Losing Coverage, Promises to Fix Problems (56 comments)

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  •  Ah, it's more like 5% or 16 million people (7+ / 0-)

    I am one those self employed people that purchase one of these plans.  Although it is not great, it definitely is not bad.  Comparable to a Silver plan in the ACA.  Unfortunately, my family income is just over the limit to qualify for the subsidy. What I've seen so far is $150 monthly increase for a 70/30 plan.  I currently have a 80/20 plan with BCBS.  I'm hoping I find some better options.  I really didn't expect this.  

    I would not assume that all these people had junk policies, I know I didn't.

    •  What are your healthcare. gov options? (2+ / 0-)
      Recommended by:
      Heavy Mettle, Oh Mary Oh

      And, you can call other insurers in your state to see what they are offering on the private individual market.

      Some insurers are dropping all individual market plans, letting the exchanges pick them up, though.  

      Some are waiting months for the "really sick" people they don't want to sign up in the first wave of open Obamacare enrollment to be taken by other companies

      Choice has been given to us. No more pre-existings tieing you down.

      "Privatize to Profitize" explains every single Republican economic, social and governing philosophy. Take every taxpayer dollar from defense, education, health care, public lands, retirement - privatize it, and profit from it.

      by mumtaznepal on Thu Nov 07, 2013 at 11:02:51 PM PST

      [ Parent ]

    •  There Are Ways To Reduce Your MAGI To Qualify (2+ / 0-)
      Recommended by:
      Oh Mary Oh, Heavy Mettle

      for a subsidy.  Selecting an HDHP/HSA plan allows you to reduce your MAGI when you contribute to an HSA.  Contribute to an IRA, that will reduce your MAGI.  If you are just over the limit, then reducing your MAGI may work.

      "I think that gay marriage is something that should be between a man and a woman.” - Arnold Schwarzenegger 2003

      by kerplunk on Thu Nov 07, 2013 at 11:36:03 PM PST

      [ Parent ]

        •  MAGI Means Modified Adjusted Gross Income (0+ / 0-)

          Obamacare defines what the Obamacare MAGI means.  Generally MAGI is a rule that requires that some regular deductions to your federal income tax have to be "added" back in (basically aren't allowed for purposes of a given situation).  There are other MAGI calculations for other tax situations.  

          HDHP means High Deductible Health Plan and HSA means Health Savings Account.  When you chose a health insurance policy that is designated as a "high deductible" plan you are allowed to open a health savings account and contribute an allowed amount into it.  The amount can be deducted from your federal income tax which will lower your "wages" by that amount.  So if you are close to the Obamacare subsidy maximum limit, this technique may lower your wage enough to get in under the limit and then get an Obamacare subsidy.  For example say you have wages of $48,000 which means you are above the income limit to get a subsidy (the max poverty level limit is $46,960 annual income for a single person).  By contributing $4300 (maximum allowed annual amount for a single over 55 person) to an HSA, you can lower your wage by $4300, which gets you to $43700 which now gets you under the limit and you can get a subsidy

          "I think that gay marriage is something that should be between a man and a woman.” - Arnold Schwarzenegger 2003

          by kerplunk on Sat Nov 09, 2013 at 10:58:58 AM PST

          [ Parent ]

      •  believe me, I work closely with my CPA (1+ / 0-)
        Recommended by:
        kerplunk

        our sons on the same swim team, I see him often.  I shouldn't say my CPA, like I'm some sort of big shot, our kids are friends and I'm his client.  I have my 401K (as well as some other investments), life insurance, a 529 plan for my son.  My money is budgeted tightly, but I will definitely ring his ear.

        •  Here Is A Website That You Might Be Interested In (0+ / 0-)

          since you sound like you are into money management.  It often has good discussions on current money issues and strategies for "non big shots".  It is focused on  early retirement but the topics and practical discussions apply to all.  Has several discussion threads about Obamacare and strategies.

          http://www.early-retirement.org/...

          "I think that gay marriage is something that should be between a man and a woman.” - Arnold Schwarzenegger 2003

          by kerplunk on Sat Nov 09, 2013 at 11:08:16 AM PST

          [ Parent ]

    •  What about coverage limits? (1+ / 0-)
      Recommended by:
      Heavy Mettle

      Does your current plan have yearly or lifetime coverage limits.  If so, it is not good protection.   I know a lot of individual policies had yearly limits of around $150,000.   This is a drop in the bucket if a truly major medical issue arises.  

      •  1 million life time limit. (0+ / 0-)

        which I know is not enough for something like a battle with cancer or something worse.  No lifetime limit aspect is definitely a plus.

        •  That's not as bad as some, but... (0+ / 0-)

          If you do break through it, under the old system you were really screwed since you were effectively uninsured with no possibility of getting alternative coverage (pre-existing condition).  In that sense, the individual market will be far more secure in the future since no one will have to worry about losing coverage after a major medical event.  

    •  Yes, there is a sliver of people like (0+ / 0-)

      the CA couple I referenced below (or maybe in another diary) that are getting their premiums raised, didn't have bad insurance, and are just above the line for subsidies. During the ACA debate people refused to hear of it. I thought the income level needed to be raised but it was a non-issue

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