Obamacare Part II

I'm about as confused as Hathaway and Greene right now (photo probably owned by Warner Bros.)
I’m about as confused as Hathaway and Greene right now (photo probably owned by Warner Bros.)

The healthcare deadline is just around the corner and I’m scrambling for as much information that I can stomach before I fork over premiums that I’m in no-way wanting to pay.

After understanding the necessary vocabulary and learning why the young and healthy are so desperately needed to make Obamacare work, I still wonder about subsidized healthcare and the insurance companies themselves that we’ll be buying into.

First, let’s define “subsidized healthcare.” The glossary states that is is, “health coverage that’s obtained through financial assistance from programs to help people with low and middle incomes.”

All right, but what’s considered “low” and “middle” incomes?

via Healthcare.gov
via Healthcare.gov

While this chart seems simple enough, it still didn’t really inform me on how this would actually work.

I went to the Heathcare.gov website and logged onto its chat service only to be asked that I “contact them” if I wanted more information. Since when did “chat” not count as “contacting?” Anywho, so I picked up the phone like it was 1999.

On the phone, my Healthcare.gov representative was able to log into my account and go through my application and let me know whether or not I qualified. I do, but it would only shave $75 off a month my total premium dues. While that seems like a significant amount, the healthcare rep, let’s call her Barb, went on to say that one can only qualify for subsidized coverage if they choose a bronze, silver, or any other metal tier, meaning, that those under 30 years of age who just want catastrophic coverage won’t qualify for the subsidies. With that being said, the price per month came to a wash. $75 off a bronze and silver plan equaled the cost of a catastrophic plan. Boo.

So right now, with six days before the deadline, I’m at a fork in the road. I can either pay $200/mo for health insurance I’ll probably never use to avoid a fine on my taxes or just pay the fine next April that would equal just 1% of my annual income and just hope and pray and knock on wood I won’t slip and fall or develop some sort of rare disease.

You can read Part I here.

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