$7 billion dollars is a heck of a lot of money for something that is already in existence, and thriving, namely health insurance exchanges. There are many websites that allow you to compare health insurance plans, https://higginscompanies.com/health-insurance/all-bcbs-of-az-plans/, dental, https://higginscompanies.com/dental/more-az-dental-insurance-information/ , vision, and maternity, https://higginscompanies.com/health-insurance/maternity-planning/,. This is what the fifty federal exchanges will do, for $7 billion dollars! Why are we allowing the government in on a thriving and very competitive market?
There is one exception though. The government’s health insurance exchanges will require medical insurance companies selling policies on the exchanges to be non-profit, and they must also offer minimum health insurance benefits set by the government. One of these minimum benefits is that no health insurance company can offer deductibles higher than $2000. Compare the premium between a $2000 deductible and a $5000 deductible plan and you’ll get an idea of which direction medical insurance premiums are heading…and it’s not down.
Throw in all the other federal requirements on health insurance companies such as guaranteed issue, maternity coverage, and control over premiums and it is no wonder the largest non-profit in the business sees a 30% premium increase at a minimum down the road. And for what? $7 billion tax dollars down the drain.
Michael Higgins
602.405.8769
An Arizona health insurance agency.