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Question about obamacare
Old 01-30-2013, 12:12 PM   #1
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Question about obamacare

I pay $105 a month for health insurance and have an income of 10k a year how will obamacare
help me. I know it will help me but I don't understand how.
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Old 01-30-2013, 01:35 PM   #2
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The exchanges are supposed to be rolled out in the fall. There on the website when this does eventually happen, you will be able to see which plan you like and what it costs. The amount you would pay is subject to the relationship between your income and the poverty line. So obviously the lower the income and more family members you have the cheaper it will be, for you. You didn't mention much about your health insurance other than the cost. But I imagine some people with have to do a cost analysis to determine if the exchange price and features are better than what you currently have. For an extreme example, let's say that your policy is a company subsidized gold plated plan for a $100 bucks. You may find that keeping your current plan is better than what you can get through the exchange.
I am presently "on my own" with an individual plan, that is grandfathered in. I cannot see in any way, that this program will help me at all based on my current rate and income. Therefore, I will stay with mine and hope that the plan stays as is.
Other members may be able to give a more detailed response.
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Old 01-30-2013, 01:54 PM   #3
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Good answer. I was thinking I pay $105 but right now I can make any amount of money and stay at $105 per month. That is something to think about unless it is one heck of a deal.
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Old 01-30-2013, 02:10 PM   #4
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Funny, I was in a restaurant just last night and some people at the next table were having a fairly heated/but friendly discussion on Obamacare.

One side of the table insisted that Obamacare was going to be free for everyone while the others had the story right.

I wonder what percentage of the population are in for a very rude awakening in about 8 months when they're told that they must come up with $4-$10K in annual insurance premiums.
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Old 01-30-2013, 02:16 PM   #5
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I would think at $10k/year income your healthcare would be free through Medicaid. Hopefully your $105/month would continue to be available as well.
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Old 01-30-2013, 02:17 PM   #6
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If you're single and making 10K a year you'd be eligible for Medicaid under Obamacare:

APHA: Medicaid Expansion
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Old 01-30-2013, 02:17 PM   #7
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I think it's pretty much a one way road. If you have a grandfathered plan and get off it, to join the exchange program, you can't go back, so one must be sure before changing. However, you will always be able to drop your plan, and join the exchange. If your plan is underwritten, the premium probably will be way cheaper than the exchange program (income subsidies, aside). I looked at a Kaiser link a forum member gave a while back and my jaw dropped at the price I would have to pay, so I am hoping to stay off it. However many people will benefit from it through income benefits, or currently being shut out of individual markets for health reasons.
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Old 01-30-2013, 04:04 PM   #8
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Are assets looked at?
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Old 01-30-2013, 04:21 PM   #9
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Are assets looked at?
Currently is based on MAGI ( modified adjusted gross income )

FAQ: Everything you need to know about Obamacare’s coverage options, in one post
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Old 01-30-2013, 05:38 PM   #10
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Do you have pre existing conditions ?
Quote:
Originally Posted by rec7
Good answer. I was thinking I pay $105 but right now I can make any amount of money and stay at $105 per month. That is something to think about unless it is one heck of a deal.
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Old 01-30-2013, 06:33 PM   #11
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Old 01-30-2013, 07:33 PM   #12
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It's more aptly referred to as the Affordable Care Act.
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Old 01-30-2013, 07:42 PM   #13
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Originally Posted by marko View Post
Funny, I was in a restaurant just last night and some people at the next table were having a fairly heated/but friendly discussion on Obamacare.

One side of the table insisted that Obamacare was going to be free for everyone while the others had the story right.

I wonder what percentage of the population are in for a very rude awakening in about 8 months when they're told that they must come up with $4-$10K in annual insurance premiums.
I've also heard the same misconception commonly expressed.
Everyone expects something for nothing, but that ain't the real world.
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Old 01-30-2013, 07:57 PM   #14
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It's more aptly referred to as the Affordable Care Act.
If you are going to be a stickler, then it is actually "The Patient Protection and Affordable Care Act". Kinda awkward to type all that, no?

But how is either more 'apt' than 'Obamacare'? It's a common, easy short-hand for the legislation, and everyone knows what is being discussed.

I have yet to see anyone here complain about some often discussed legislation when it is referred to by its common name, rather than "The Economic Growth and Tax Relief Reconciliation Act of 2001".

-ERD50
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Old 01-30-2013, 10:40 PM   #15
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I've also heard the same misconception commonly expressed.
Everyone expects something for nothing, but that ain't the real world.
These people vote based on their misconceptions.
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Old 01-31-2013, 03:54 AM   #16
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If this percentage of the population are happy with their present insurance (i.e. from work, private coverage, etc), no one obliges them to buy a new one.
Quote:
Originally Posted by marko
I wonder what percentage of the population are in for a very rude awakening in about 8 months when they're told that they must come up with $4-$10K in annual insurance premiums.
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Old 01-31-2013, 04:35 AM   #17
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For some insight into what kind of subsidies you may be eligible through ACA, you can check out what Massachusetts residents currently get with Romneycare.

https://www.mahealthconnector.org/portal/site/connector

ACA will be similar but still a little different.
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Old 01-31-2013, 06:37 AM   #18
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These people vote based on their misconceptions.
Bingo !!
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Old 01-31-2013, 06:45 AM   #19
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I am curious about what insurance you get for $105 and why it will change with Obamacare. By and large Obamacare is designed to extend coverage to those who can't get it now or wouldn't be able to in some future circumstance. Other than insuring that you won't lose the ability to get covered it isn't intended to improve your current circumstance.
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Old 01-31-2013, 09:22 AM   #20
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I am curious about what insurance you get for $105 and why it will change with Obamacare. By and large Obamacare is designed to extend coverage to those who can't get it now or wouldn't be able to in some future circumstance. Other than insuring that you won't lose the ability to get covered it isn't intended to improve your current circumstance.
I thought I could lower my cost because of my low income.
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