Obamacare Changes Health Insurance, But Can You Afford It.

TrainwreckFinally, the details about the health insurance plans that are available through the federally facilitated exchanges was made public yesterday.

There is no question that the entire health insurance system has changed.  Americans are going to have to face facts.  It will cost many Americans more, out of their pocket, if they must go to the hospital in 2014 than it did in 2013.

Last April, Senator Baucus (D – Montana) predicted that Obamacare would turn out to be a “train wreck.”  A couple of weeks later he announced that he would be retiring from the U.S. Senate.

As I reviewed the options that are available on the federally facilitated exchanges yesterday, I came to the conclusion that “train wreck” was a kind term.

There is no question that Obamacare will help lower-income Americans.  However, it definitely will not help middle-class American entrepreneurs.

Those who are self-employed or small business owners who have had even a small amount of success are looking at premiums that are, in many cases, more than double what they were paying for health insurance.

What is even worse is that, in many cases, in order for them to keep some form of health insurance, they must select a plan with an extremely high deductible.

Yes, most plans have doctor office co-pays to allow people to get medical treatment for routine ailments, but the way the plans are constructed, if someone has to go to the hospital, they are looking at having to pay multiple thousands of dollars before they get any benefit from their mandated health insurance.

In many cases, the only option that someone has who wants health insurance for what it originally was intended to do, cover someone if they have to go to the hospital, would be to get a Hospital Income supplement.

Many insurance companies offer this type of supplement.  It helps pay some of the deductible and co-insurance if a person has to spend the night in the hospital.