Health insurance: the race against the clock
There is still time for Congress to take charge of changing the healthcare system to help stabilize it. The fate of the Affordable Care Act has yet to be determined. Meanwhile, people wait while paying extremely high premiums and have mountains of pocket bills on the kitchen table. Where is the affordability of the Affordable Care Act?
Tick Tock also for insurance companies. They are on a schedule for the presentation dates this summer. Insurance companies have time to decide whether to continue offering ACA plans or not. By withdrawing the ACA plans, things will start to go back to before the law was signed. This time capsule can be good for many.
Insurance companies can begin screening for health problems. Don’t panic yet! Years ago, the only problem with pre-existing conditions was not ‘if’ an insurance company would accept it, but which one. Each insurance company had personalities for health conditions. Just because a reputable insurance company turned someone down didn’t mean you couldn’t get health insurance from another company. Insurance brokers just had to match the personality with the insurance company. It’s as simple as that.
If nothing happens by the end of March, we could be moving towards more increases in health plans in 2019. This is terrible news for people who are on the verge of losing their health insurance due to cost. Not everyone does well enough to pay for their health insurance smoothly, and many more do not qualify for any government subsidy for premiums.
The governors of Alaska, Ohio, Colorado, Pennsylvania and Nevada developed “A bipartisan plan to improve the performance of our nation’s healthcare system.” Gather a high-level overview of the changes that should occur. It doesn’t get specific enough to make a difference. It may be too early at this point. However, policyholders need some answers, and solid proof that something will change will benefit them.
The collective action of 20 US states recently sued the federal government alleging that the law was no longer constitutional after the repeal of the individual mandate as of 2019. Individuals and families who do not have coverage that complies with the law ACA will no longer be fined with a tax penalty in 2019. The individual mandate It was the same rule that was determined by the Supreme Court in 2012 saying that it was constitutional as a tax penalty.
The future of the law and health plans has yet to be determined. Since 2014, it seems that most policies change every year. Every year premiums go up and policies cover less. At what point is the breaking point? With this race against time, we will have to wait until the clock stops to know if a real change is coming.