I finally had the chance to run the numbers on how ObamaCare will affect me personally. To say they were unsettling would be an understatement of biblical proportions.
I currently have the most basic of health insurance coverage, a ‘catastrophic’ plan, available through my employer. The annual premium for this most basic coverage takes about 10.4% of my pretax income. THAT plan ceases to exist under ObamaCare rules, effective Dec 31.
The “new and improved” equivalent plan under ObamaCare would slam me with a premium increase to 31.8% of my pretax income – 3 times as much – IF it were available to me. However, it is not, because I am too old. Too old? Yes, too old. Catastrophic plans are only available to someone UNDER 30.
The least expensive “Bronze” plan which Dear Leader says I CAN buy comes in at a whopping 42.2% of my pretax income. The most “affordable” insurance I will be ALLOWED to buy under the “Affordable Care Act” is going to cost me more than FOUR TIMES what I now pay. (On the bright side, if I, as a 61-year-old male, get pregnant, I’m covered.)
But, I can get subsidies to offset those costs, right? Well, maybe.
About half my monthly income comes from one part-time job that is totally dependent on business. On good weeks, I can get 20 hours, on bad weeks, as little as 4 hours. With an income right on the bottom cusp of qualifying for subsidy, all it would take is a few ‘bad’ weeks and I do not earn enough. At that point, I would have to pick up the ENTIRE tab for an insurance plan that could suck off $42 of every $100 I make.
Thanks a pant load, Barry.
Dennis P. O’Neil