Obamacare = no lifetime maximums.
I can imagine that helps a lot of us. Multiple colonoscopies, years of Remicade, etc. and then possibly surgery could easily cost more than $1 million or whatever the lifetime maximums used to be.
Anyone on this board finally able to get individual insurance because of the no exclusion for pre-existing conditions clause?
I've always had no-life-time maximums and no pre-existing conditions because I live in NY but these clauses do cost the industry money and that is one of the reasons our premiums were always higher than the National averages. But I was always thankful that these were the part our health care regulations in NY. I am well over a million dollars in claims in my 8 years of UC, I've had (2) $250,000 hospital stays for over 20 days each time, plus all my doctors visits and biologicals.
I've been offered good jobs out of state but could never take them due to my health issues and not being able to risk not being covered for health insurance; thanks to Obamacare I can take a job anywhere in the Country or even start my own business in a different state.
Because NY State had these policies in place prior to Obamacare we are expecting to see premium pricing to come down for many insurance policies (but not all).
I'm willing to bet that a lot of folks are going to get premium refunds at the end of the year because the insurance companies didn't meet the 80% threshold. They insurance cos. are taking advantage of the frenzy around Obamacare-raising prices and profiting on a 12 month float on millions (billions?) of dollars.
That is a good point and we may see this happen but if they don't sign up enough people for insurance then I doubt this will happen. They need to sign up younger healthier Americans to keep the costs down for the first year, if not, then the insurance companies may not be at that 80% number.
This is a long-term program and we need to have patience; it will take years for the program to take effect and stabilize the health insurance industry. Long-term this will be a good program for almost everyone but it will take time. I predict as time goes on that premiums will go down for almost everyone from the upcoming year's premiums. I really don't think we can judge ObamaCare by the upcoming first year, it is too big a change with too many moving parts to know exactly how things will be but there are a lot of great new features to our Health Insurance/Medical Industry that will positively affect everyone.
Sure some people will pay more for insurance but they will be getting much better coverage and benefits; $100-$150 a month health insurance doesn't cover anything and will probably still bankrupt you if you had a major medical issue. Health Care is expensive in the US, insurance premiums must reflect that, otherwise insurance doesn't work.