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Wednesday, November 13, 2013 10:29 AM


Reader Explains Why Her Family of Four (with existing coverage) Opts Out of Obamacare


In the email below, reader Stacie explains why she and her family of four, all healthy, opt out of Obamacare. Instead she is willing to pay the penalty and use cash-only healthcare services.

Stacie's family had affordable coverage before. Now they don't have any coverage.

Yes, this is yet another case of Obamashock!

Stacie writes ...

Hello Mish!

I find all your articles very insightful and educational. I especially appreciate your ability to bring "light" to Obamacare and what it means for our country going forward.

My husband and I are both 28. (Healthy, non-smokers and no preexisting conditions) We also have two young daughters who are healthy.

Our plan was to sign up for another year of coverage through my husband's employer. Due to increase costs, they are only offering one plan with an HSA. However, these HSA deductibles are higher than I have ever seen. For our family it is $12,000 (in-network). The premiums are $720 per month. $720 a month for the privilege of getting worse coverage.

The exchange is offering similar coverage and premiums. Thus, we are making a tough decision. We are opting out of coverage. It is cheaper for us to use cash only clinics,  eat organic food and continue to pay for our gym membership.

I believe the Obama administration thought no one with existing coverage would opt out. But when new "affordable" premiums are roughly 25-30% of a healthy, young family's total income, what do they expect?

Healthcare premiums should not be the same percentage as a mortgage payment.

Thanks for all you do,

Stacie

Obamacare Severely Penalizes Healthy Lifestyles

It was well understood, in advance, at least by Mish readers, that young, healthy individuals and families, would subsidize overweight, older, citizens with poor lifestyles.

This is a prime "Obamashock!" case in point.

Obamashock! Ongoing Recap


Anecdotes do not constitute "data". Unfortunately, I do not have hard counts of those like Stacie.

Like you, I can only wonder how many readers are in Stacie's shoes. The only answer I can come up with is "too many".

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com

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