I have been a school teacher for over 20 years. I love my job. I voted for and completely support our President. I think he has done a wonderful job considering the situation he walked into. And the complete obstruction he has faced.
Over the years I have had coverage from many health insurance companies. What happens is each year, my school district along with the teacher's union shop for health insurance for it's members. For the most part it has been pretty affordable. But what I have noticed that every year, the selection for plans gets less and less. And the coverage has gotten worst. And this is in a school district which is the third largest in the state.
Anyways, this year I was not looking forward to getting my enrollment information package. I was shocked when I opened and read the cover letter.
The letter basically said that for many reasons most insurance premiums would be going up 16% to 17%. But, when I read further I saw that my monthly premium was going from $150 to $420. What? that's not 16% to 17%, this is like almost 200%!
They gave a list of reasons for the drastic increase.
1. ACA admin cost accounted for only 4% of the increase
2. All the other listed reason's for the increase, was because of various cuts to education funding due to the sequester.
I am lucky, I can afford the increase. But I know for many of my teacher friends, it will be tough.
I called the office that is in charge of my health insurance and asked them how my $150 premium increasing to $420 is a lot more than a16% to 17%.
They were very non apologetic about it. They basically said that hey did the best they could do. And that premiums will go even higher next year, especially if the sequester cuts stay in place. But they also said that health insurance companies who can seemingly charge what they want are the real reason rates will stay high.
So while I applaud the Presidents intent in making healthcare affordable for many, I fear it won't really be affordable to many until there are regulations on what health insurance companies can charge.