OPINION: How to think about the Senate’s (latest) health care bill
The short answer is that you probably shouldn't.
The president of
So today, in lieu of passing judgement on a bill that is likely to undergo even further changes before it reaches the president's desk, I've proposed three selfish questions I believe reasonable people across the political spectrum should ask before deciding whether the
Read more:
1. Is it good for the insurance industry?
This may seem an odd place to start, especially if you don't work for an insurance company. After all, even drug manufacturers suggest asking your doctor if their product is right for you, not the company who made it.
But the majority of Americans rely on some sort of insurance coverage to pay most of their medical costs. And their ability to purchase that coverage, either through an employer or on the individual insurance market, depends on some company's willingness to sell it.
Indeed, one of the primary arguments for replacing Obamacare is that insurance companies are either refusing to provide individual policies that comply with the federal government's coverage mandates or poised to levy premium increases that would make those policies unaffordable.
Economists and most industry executives blame the Trump administration and the
But you needn't decide who's responsible for the status quo to understand that policyholders can't know what to expect until the companies that insure them do.
Insurers also will have until September to withdraw any of the insurance products they've proposed to offer on the
Health Alliance Plan CEO
But the
AHIP, the health insurance industry's leading trade association, warned in a statement issued last week that the change could "fracture and segment insurance markets into separate risk pools" for younger, healthier customers and older, sicker ones, destabilizing the industry and leaving the latter group with dramatically higher premiums.
HAP's Kline told me her company can figure out how to operate profitably under "any set of rules
Whether HAP will be able to offer affordable, comprehensive coverage to the same employers and policyholders it serves now after making such adjustments is, of course, a different matter. But unless the government decides to pay for health care directly, any health care bill that leaves insurers worse off is likely to hurt policyholders as well.
2, The
The new bill would keep more money in the system than its predecessor. But it will also allow policyholders to use tax-exempt health savings accounts to pay their insurance premiums.
The more you can afford to save, the better coverage you'll be able to buy. And the higher your income bracket, the more taxes you'll avoid on every dollar you stash in an HSA.
Combined with the reductions in Medicaid spending, it's another way to transfer money from the poor to the rich. Consumers just need to figure out whether they earn enough to reap the disproportionate advantages the revised bill offers to wealthier Americans.
3. I feel bad that the
Most people think of Medicaid as a program for the poor and disabled. But it's also what picks up the tab for in-home and nursing home care -- costs Medicare doesn't cover -- when your retirement savings run out.
According to a study commissioned by the Health and
If the Medicaid cuts that remain the centerpiece of the newest Senate Bill are adopted, the
Some workers may be able to fill the gap by purchasing long-term care policies. But it would be foolish to assume the Medicaid cuts mandated by the
___
(c)2017 the Detroit Free Press
Visit the Detroit Free Press at www.freep.com
Distributed by Tribune Content Agency, LLC.
CBO Issues Cost Estimate for Private Flood Insurance Market Development Act
New Windsor man sentenced for torching own business
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News