Back to the future with health insurance
Published October 1, 2013
by Richard Campbell, President Carolina Broadcasting, parent company of NC SPIN, September 30, 2013.
I believe the origins of U.S. health insurance stem from depression era efforts to help hospitals in our growing urban areas remain open to care for those in need - in essence a pre-paid hospitalization plan. Much of our population was moving away from family farmlands/their hometown communities where loved ones and the family doc historically cared for one another. Hospitals helped fill that gap, and also provided modern technology for improved care.
Somewhere along the way, what was risk mitigation for unknown future hospitalization expenses, has turned into a very complex, very opaque healthcare payment system that leaves consumers with little understanding of the actual cost of care, does little to nothing to reduce cost of care, and some argue removes control from the patient and their chosen care provider. I have my own opinion on this, but I’m not sure I know enough to expertly argue these points one way or the other.
What I do know is we really liked our HSA plan - it met our risk tolerance level, our budget (as an employee of a 4 person S-corp that cannot afford to provide insurance, and now will not be able to provide any HSA offerings) and our family's needs. We understood there would be an increase in cost, but can't understand why the next closest ACA compliant plan is 110% more.
I want those in need to have access to affordable care, but I also believe we should go back to the future a bit with health insurance. Like auto insurance, there are consequences and costs associated with poor choices, and last I checked, I still have to pay for my oil change and wiper blades.
Allow us an opportunity to affordably manage our own risk, with options that work for small, relatively healthy, health-conscience families. Regardless of political views and beliefs, letters like the one we received today will not be a welcome reality for many Americans.
October 1, 2013 at 8:44 am
Richard Bunce says:
I am keeping my HSA and getting an eligible HDHCP on the exchange... not sure what your issue is with not being able to keep your HSA. Maybe because you are buying it within the S Corp.
October 2, 2013 at 3:00 am
Vicky Hutter says:
Richard, I agree with you and your concerns re: the unintended consequences of the implementation of Obamacare and sticker shock for millions of Americans. That legislation is a prime example of the very worst in policy-making at the federal level and will be a disaster for the country, esp. taxpayers and people who will have to pay more for their own and their family's health insurance plus have their taxes go up to pay for millions of people who will be subsidized by the taxpayers. If the president and majority leaders in the Senate are successful in awarding amnesty for the millions of people in the country illegally then that will increase by approx. 11 million the numbers of people who will be provided with taxpayer subsidized health care. And do members of Congress come under the same requirements as average citizens in terms of participation in Obamacare or did they conveniently exempt themselves as they usually do with unpopular laws that they pass that affects average citizens and taxpayers? Obamacare is the wrong solution for the wrong problem with health care in the U.S.
October 2, 2013 at 10:02 am
Richard Bunce says:
I am not quite sure why every employer is not transferring their employees HCI to the Exchanges and just pay the relatively low fine which is not even being charged the first year... As usual Congress created a section of the ACA to require that they must get their HCI through the Exchanges but did not account for their employers contribution and then tried to correct that oversight with regulation not legislation.
