Unless you’ve been living under a rock, you’ve probably heard that a new health insurance marketplace opened its virtual doors on October 1st. And, if you watch the news or participate in Facebook, you’ve probably heard people bitching and moaning ever since.
As a self-employed person, I’m highly interested in how all of this pans out. And, since Greg works in an industry that is notorious for having little to nonexistent healthcare benefits, he’s highly interested as well. Although we currently have a healthcare plan that we’re happy with, we recently received a letter from Anthem stating that our plan will not exist after December 2014. This was good news and bad news. On one hand, I’m happy that we can stick with our plan for another 14 months or so. On the other hand, I’m terrified of what happens next.
Anyway, I was bored this weekend so I decided to head over to healthcare.gov to see what all the hype was about. And, after spending over an hour trying to get their website to function properly, I was able to shop for the health insurance plan of my dreams. Brace yourselves.
The Unaffordable Care Act
Since our income is well over $94,000 per year, we don’t qualify for any of the subsidies….which is fine. I mean, does anyone making $94,000 per year need a subsidy to buy their health insurance anyways? Apparently, the government thinks so since that’s where they drew the line. Regardless, I don’t qualify so I’m able to bask in the glory of any full-price healthcare plan of my choosing. And, trust me, I felt like a kid in a candy shop!
Indiana Affordable Care Act Premiums
We qualified for 18 amazing plans. Here are a few of my hands-down faves:
Anthem Bronze Access Direct (the cheapest plan available)
- Premium: $738.83 per month
- Deductible: $10,000
- Maximum Out-of-pocket: $12,700
Anthem Bronze Direct Access w/HSA
- Premium: $752.05 per month
- Deductible: $9,000
- Maximum Out-of-Pocket: $12,700
MD Wise Marketplace
- Premium: $901.42 per month
- Deductible: $7,000
- Maximum Out-of-Pocket: $12,700
MD Wise Marketplace Gold
- Premium: $1,222.53 per month
- Deductible: $2,100
- Maximum Out-of-Pocket: $6,000
Anthem Gold Access
- Premium: $1335.26
- Deductible: $2,000
- Maximum Out-of-Pocket: $4,500
Now, I know what you’re thinking…. How did we get this lucky? I mean, having a $10,000 health insurance deductible is every girls’ dream, am I right? (I kid, I kid)
As someone who rarely goes to the doctor or gets sick, I think it’s pretty lame that the cheapest health insurance I can buy is $738 per month. I mean, our current plan is $377 per month and has a $11,000 deductible. Therefore, the Affordable Care act basically doubles our premiums for the exact same care. Of course, I’ve been made aware (by my ultra liberal friends) that other things are included in these new comprehensive plans. For instance, well visits, maternity care, and certain preventative procedures are now covered. But, is that really enough to justify increasing premiums by 100%? And, with a $10,000 deductible, is the insurance really “covering” your maternity care anyway?
***UPDATE: I checked ehealthinsurance.com as well to see if there would be cheaper rates through them. Unfortunately, the cheapest plan (that would start in 2014) was $839 per month.
Do these premiums seem affordable to you? What is your take on the Affordable Care Act? Speak your mind!