The Affordable Care Act has major flaws in design, requiring over-insuring which makes it un-affordable.
Insurance is designed to transfer or spread risk over a group of insureds. The ACA has unlimited cost exposure to insurance companies which causes much higher premium pricing to account for black swan events.
Subsidies to healthy and unhealthy individuals are bankrupting the USA to the temporary benefit of insurance companies. Doctors are either selling out to hospitals or retiring or teaching because they don't like being in the collection business. Most bronze plans have $5,000-$6,000 individual deductibles so medical professionals provide services and then struggle to get paid. Laws require medical care to be provided, in effect making Doctors indentured servants to their indigent patients.
Proposed emergency legislation for Affordable Care Act insureds that lose federal subsidy.
S.T.R.I.V.E. concedes that since Reagan in 1983 with EMTALA mandated that Doctors and hospitals are required to provide medical care to save patients lives has created a new form of indentured servants in scrubs. The mandatory service burden has been increased in subsequent years for all sorts of medical care that has made it necessary that a countervailing mandate of a funding mechanism to pay medical professionals must be instituted.
Use Virginia car insurance mandate as a model:
Virginia requires the following minimum car insurance coverage: Bodily injury/death of one person $25,000. Virginia has modest car insurance requirements and has a $500 Uninsured Motor Vehicle fee, which allows you to drive an uninsured vehicle at your own risk.
- Federal government will offer a stop-gap maximum two year subsidy at the same % that the ACA was providing on Mandatory Economical Plans to people in 100-400% of poverty line in the 36 states which do not have a state exchange. The subsidy will be for policies that have:
- Deductible: $500 in-hospital $100 office visits $50 prescriptions
- Office visits co-pays $25
- Emergency Room Co-pays $200
- Prescription co-pays: birth control $10, Generic drugs $20 Brand name drugs $40
- Annual Maximum out of pocket for insurance company by age band
- Pregnant women to have two times the age band limit
- Age 0-25 $25,000
- Age 26-33 $35,000
- Age 34-41 $50,000
- Age 42-48 $65,000
- Age 49-56 $80,000
- Age 57-medicare eligibility age $100,000
- Mandate that all insurers on the federal exchange price and make this product available utilizing their existing networks.
- States to verify in every case where insurance company reports that they have maxed out annual payment that charge to covered patients from providers is no more than 110% higher than the best negotiated rate of that provider with any other insurance carrier or group.
- After insurance companies max out payment insured stops paying premiums until January of next year.
Our country's future looks bleak but the right policies can turn things around quickly. In December of 1982 the US had its highest post depression unemployment rate of 10.8%.
In September of 1983 the US created 1,314,000 jobs and in 1984 our economy grew by 7.3%.
Let's S.T.R.I.V.E for America