And I thought the Republicans were the biggest health insurance industry whores around. Well they’ve got nothing on Max Baucus and the other democrats who helped draft this plan.
This is great news for the insurance companies. Your insurance premiums are going to skyrocket, especially if you’re an elderly American not eligible for Medicare.
According to the plan insurance companies will be able to charge up to 5 TIMES as much as an average policy based on your age. With an average policy for an individual running about $500/month, that would add up to $30,000 per year.
Don’t take my word for it, read it for yourself. Page 2.
And the so called inability to discriminate because of the preexisting condition, well it’s there, but the insurance companies will just be able to price those people out of the market as well.
Not only will they be able to charge 5 TIMES the going rate, but they will only have to provide a minimal credible coverage policy which will have a 6K max out of pocket. (Pages 17 and 18 of the plan.) That would come to $35,000 per year for an individual, and $70,000 for a family.
How many people do you think can afford $30,000 per year? Now the insurance industry will be able to get rid of their highest risk customers legally.
This is great news for the health insurance industry, and it’s time to celebrate. I’m investing all my spare cash in United Healthgroup and Aetna insurance..