Another Problem for ObamaCare, or Is It?

In my daily peruse of the medical supply and healthcare world, I received some startling news for thought. If you have a Google Alert set for "ObamaCare" as I do, (but who am I kidding, you don't!), you were alerted this morning to the NBC breaking report http://investigations.nbcnews.com/_news/2013/10/29/21222195-obama-administration-knew-millions-could-not-keep-their-health-insurance? that says that the Obama Administration knew, as far back as 2009, that millions of Americans would not be able to keep their current health insurance, as it is, despite their promises of such.  

Now before we all start pulling out our hair and screaming in the streets, Halloween is Thursday remember, let's find out why. The NBC report states: "The law [the Affordable Care Act] states that policies in effect as of March 23, 2010 will be “grandfathered,” meaning consumers can keep those policies even though they don’t meet requirements of the new health care law. But the Department of Health and Human Services then wrote regulations that narrowed that provision, by saying that if any part of a policy was significantly changed since that date -- the deductible, co-pay, or benefits, for example -- the policy would not be grandfathered."

So essentially, your current insurance plan would be honored by ObamaCare unless the private health insurance company made any last minute changes to (in my opinion) benefit themselves once they saw that ObamaCare was going to become law. These changes include raising co-pays, raising deductibles, reducing benefits, etc.  

Now the report, as linked above, does a very good job of providing cases of people who won't benefit from their insurance plans not being grandfathered in but there are no cases of those who would benefit from the change.  They couldn't report on those who will benefit because, obviously, the new ACA won't go into effect until January 1, 2014 and people are still shopping for their plans on the Healthcare Exchange (Note: I recommend you call, not try to browse online).  But like with any great change that affects a numerous body of people, there will always be those who benefit from the change and those who won't.

We can't know if losing your current health plan will be better for you in the long run until the long run, but chew on this:  

Does your current health insurance plan make you feel at peace and secure?

Does it BECAUSE of the fact that it covers all your bases or because of the fact that it's there at all?  

What would you think if suddenly, because this selective "grandfathering" wasn't eliminated that your current plan could give you the boot if, because of a medical crisis, you became too expensive to cover?

Who would be howling in the streets then?

POSTED ON: October 29 2013
Posted by:Su-Lauren Wilson owner,CFO
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