Tuesday, December 26, 2017

Heath insurance

A major part of Obamacare was the expansion of Medicaid. Today there ae 73 million people on Medicaid up from 53 million in 2010. Medicaid is a government program and services are either free or low cost. Obamacare is a private plan and the cost is based on the type of plan and income. 8.8 million people have signed up for Obamacare this year and 80% will receive subsidies. All will pay some premium and most will have deductibles of over $6,000 per year. If your income is below the poverty level you qualify for health care under Medicaid. The new approach in the coming year will concentrate on moving people from Medicaid to private insurance. How they will do this is yet to be seen. There are still 30 million uninsured and many of these say they cannot afford Obamacare even with the subsidies. There are also 6 million who chose to pay the penalty and not get insurance and many others who did not get insurance but lied on the tax form to avoid the penalty. This is one complicated issue.

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