Obamacare -- Out of Pocket Costs

[InTheLight]

From what I understand the easiest way to curb this if you are fixed and low income is not take the insurance, pay the fine which is very low if at all for law incomers, and wait until you get sick and need serious medical attention and then sign up since they cannot refuse pre-existing nor charge extra for it.

You don't understand it. The tax is set at 1% of income for 2014 and then 2.5% of income by 2016. That doesn't sound like much but come April 15th when low income people file their taxes it could be a burden.

Also, you can't simply "sign up for insurance when you get sick". There will be application windows, either every 6 months or every 3 months. And people with pre-existing conditions could be charged higher rates.

 

[freeatlast]

You don't understand it. The tax is set at 1% of income for 2014 and then 2.5% of income by 2016. That doesn't sound like much but come April 15th when low income people file their taxes it could be a burden.

Also, you can't simply "sign up for insurance when you get sick". There will be application windows, either every 6 months or every 3 months. And people with pre-existing conditions could be charged higher rates.

Your information is faulty like many others who are spreading false information. You need to stop listening to all this false information and look at the law.
http://abcnews.go.com/blogs/politics/2012/06/health-care-law-mandate-tax-how-much-is-it/

As far as I know there is no certain times when to sign up. Unless you can point me to some place in the law about that then I will assume that also is faulty.

 

[InTheLight]

Your information is faulty like many others who are spreading false information. You need to stop listening to all this false information and look at the law.
http://abcnews.go.com/blogs/politics/2012/06/health-care-law-mandate-tax-how-much-is-it/

Supposing a low income person makes $15,000 a year, or about $290 a week. The tax in 2014 is $95 or 1% of income, whichever is greater. So for this person it would be $150. In 2016 it would be 2.5% or $375. That amount, $375, for this person represents more than a week's worth of pay. That is significant for most people regardless of income and certainly significant for low income people.

As far as I know there is no certain times when to sign up. Unless you can point me to some place in the law about that then I will assume that also is faulty.

From the website that administers insurance for those with pre-existing conditions

When will my coverage be effective?
If we get your complete application, including all supporting documents, on or before the 15th of the month, your coverage will start on the first day of the next month. If we get your complete application, including all supporting documents, after the 15th of the month and on or before the last day of the month, your coverage will start the first day of the second month.

https://pcip.gov/FAQ.html

In addition you need a letter from an insurance company proving that you have been denied coverage in the past 12 months.

https://pcip.gov/Apply.html

So you've been in a car accident and are in a coma. Just apply for insurance, right? :tonofbricks:

 

[freeatlast]

Supposing a low income person makes $15,000 a year, or about $290 a week. The tax in 2014 is $95 or 1% of income, whichever is greater. So for this person it would be $150. In 2016 it would be 2.5% or $375. That amount, $375, for this person represents more than a week's worth of pay. That is significant for most people regardless of income and certainly significant for low income people.



From the website that administers insurance for those with pre-existing conditions

When will my coverage be effective?
If we get your complete application, including all supporting documents, on or before the 15th of the month, your coverage will start on the first day of the next month. If we get your complete application, including all supporting documents, after the 15th of the month and on or before the last day of the month, your coverage will start the first day of the second month.

https://pcip.gov/FAQ.html

In addition you need a letter from an insurance company proving that you have been denied coverage in the past 12 months.

https://pcip.gov/Apply.html

So you've been in a car accident and are in a coma. Just apply for insurance, right? :tonofbricks:

You are still leaving out government subsidies for the low income which will cover most if not all the costs. Also if they are below the natioal poverty level there is no fine. As to the timing on the insurance I would like to see how the law is written not what some insurance wants it to be. However even if what those companies are saying is true the care would be provided at not cost since the person could not afford it. For low income people Just pay the fine and forget about it.

 

[InTheLight]

You are still leaving out government subsidies for the low income which will cover most if not all the costs.

I am responding to your claim that the solution is to not have insurance at all, pay the fine, and then when you get sick, sign up for insurance.

Also if they are below the natioal poverty level there is no fine.

There will be an income threshold, yes. That doesn't address your strategy of paying the fine then signing up for insurance when you get sick.

As to the timing on the insurance I would like to see how the law is written not what some insurance wants it to be.

The website I linked to is a government program that administers the insurance exchange AS SET UP IN THE ACA law, for uninsured patients with pre-existing conditions. You can find this in section 1101 of the health care bill.

http://housedocs.house.gov/energycommerce/ppacacon.pdf

However even if what those companies are saying is true the care would be provided at no cost since the person could not afford it. For low income people Just pay the fine and forget about it.

Wrong.


Is there a cost for this coverage?
If you are eligible for the Pre-Existing Condition Insurance Plan, you pay a monthly premium for your coverage and other cost-sharing. To see the premium rates for your state, go to State Plans.


https://pcip.gov/StatePlans.html