2016 Healthcare Nightmare: Pay Mortgage or Healthcare Premium

More and more doctors, specialists and hospitals are dropping out of Obamacare healthcare plans. Even more are dropping out and refusing to accept Medicaid patients because they lose too much money. Making matters worse, a number of insurance companies are also dropping various plans and the majority of co-op insurance providers are going out of business.

Consequently, healthcare premiums are going up faster than Obama can lie about them. I’ve reported on a number of increases, some exceeding 50% in the past. There is no doubt that the Affordable Care Act is a complete and utter disaster that is making healthcare anything but affordable.

Consider the plight of author and mother Jacqueline Dooley who reported the following in the Huffington Post:

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“For the last three hours I’ve been crunching numbers, trying to figure out how not to pay $600 to $800 a month for a health insurance policy that won’t cover any medical expenses until I’ve paid anywhere from $7000 to $9000 in deductibles. Then, even if the deductible is met, I’d only get partial benefits until I pay an out of pocket maximum ranging from $11,000 to $14,000. I’d reach these totals only from a catastrophic health event – a hospitalization, emergency room visit, or devastating diagnosis.

I finally conclude that I have no choice. I’ll be paying for the promise of a service that I’m not likely to use in 2016. I’ll be responsible for all of physician visits, medications, labs and most tests. I’m in this position because I’m one of the 200,000 people who lost coverage when Health Republic Insurance was forced to close its doors this month.

I’ve been looking at the silver plans, but out of curiosity I pull up the pricing for the platinum–the best coverage money can buy. I’m almost embarrassed to look at these plans. I know they’re not for me, a lowly middle class freelancer. The premiums range from $1200 a month to $1900 without the government subsidy. Even with my subsidy, most of these plans would cost me roughly the same amount as my monthly mortgage. For that price, I don’t have to meet a deductible, but I’d still have to cover copayments ranging from $15 to $600 until I reach an out of pocket maximum of $4000.

It doesn’t seem so bad, but then I think about that $1500 and how hard it will be to pay each and every month. My income fluctuates. I lose clients, get new ones, lose them again. There were some months this past year that it was hard for me to pay for my $660 premium with the now defunct Health Republic Insurance. I had the platinum plan with them and it was actually affordable, except my therapist dropped out of the plan in March and my primary care physician dropped out in July. So, I didn’t even use the benefits much.”

Dooley’s plight is becoming an all too familiar story facing many Americans. When Obamacare first took effect, I found out that the cheapest bronze plan I could get would cost my wife and I $816 per month. That plan had a $4,000 deductible and then would only pay 60% of medical costs. Like Dooley, that’s almost equal to my monthly mortgage payment and there is no way I can afford to pay that each month.

I calculated that it would cost us $9,792 a year for premiums and then another $4,000 in deductibles for a yearly total of $13,792 before any coverage really starts. Then we’ll still have to pay $40 out of every $100 of medical expenses we incur. It’s cheaper for us to pay the IRS penalty than it is to pay out what we can’t afford. We just hope and pray that nothing serious happens to us any time soon.

I’ve heard from others that are in the same boat as we are and are having to drop their medical coverage because they can no longer afford it. One person told me it’s either pay the mortgage or pay for healthcare and the choice was obvious to him. Millions more will be forced to make similar choices thanks to Barack Obama and his socialistic healthcare program.

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