How Affordable is the Affordable Care Act?
In my Think Advisor newsletter I read an article on the state of heath insurance. What I’ve been telling anyone who will listen was verified in congress publicly. Things have to change in a major way with the Affodable Care Act (Obamacare). It’s in no way affordable for the average family, especially a two income family. Below is an excerpt from the article.
“Chris Pope, a senior fellow at the Manhattan Institute, gave that assessment Tuesday (Oct 20, 2020), during a hearing that the House Ways and Means oversight subcommittee organized to review how the administration of President Donald Trump has been administering the ACA health coverage enrollment programs.
The ACA subsidy system has made ACA coverage an important safety net for low-income people and people with health programs, and any alternative proposals should continue to provide safety net protection, Pope said.
But Pope said, in the written testimony and at the hearing, that policymakers have to acknowledge that the individual major medical policies are a bad value for healthy people who have to pay full price for the coverage.
“They’re far too expensive for what they are,” Pope said. Continue reading