One of the “gets” for Obama and the Democrats during the Health Care debate and vote is the ability for parents to keep their children on their insurance plans until those turn 27. A 26-year-old adult child can be carried on his parent’s insurance plan.
I guess this is to help that kid during the transition from high school to college to work place. During those years, kids often find themselves broke; or very close. The college years can be tough, money hard to come by. As such, they may be some of the most vulnerable in the nation. We should only find it within ourselves to allow this legislation to pass.
So it did.
And guess what happened? The price of a premium went UP by nearly 1% point. It now costs $3,380 for each dependent on the plan.
In addition to foisting on young Master Johnny the fact that while he is a man, we’ll continue to treat him like a child, the family has to pay north of $3k to give him self maturity issues.
But here’s where I fail to see the whole point of the law:
- Why in the WORLD would I buy insurance anymore when I know that I can not be denied coverage for any pre-existing condition? Serious. If my 26-year-old man-child gets sick, just get him an insurance plan at that point. And then drop it when he’s better.
- Okay, okay. Let’s say for some silly reason I am going to purchase my man-child totally unnecessary insurance, why why why would I spend $3,380 when I could, in effect, do the same thing [heck, even better] by purchasing him a $50 a month catastrophe policy? Think it through. I can buy a policy that carries a 5k deductible. The first year I save $2,700. I put it all in an HSA in effect saving me about 2k in taxes. Then next year, I do the same thing. I know have $5,400 in my HSA which totally covers my deductible. I now have a rock solid health insurance plan. I have saved enough money to cover my deductible and the rest will be covered by the plan. I am banking with my HSA, saving tax money AND being able to use it for aspirin, glasses, contacts, toothpaste and all sorts of other good stuff. The money is mine to use and gain interest.
Sadly, this bill only served to punish Leftist babies. In the past, such unfortunate babies born to Leftists had a chance of breaking away from their Leftist leanings when they hit 40 or so. But now, this bill will keep them poorer longer, extend their childhood until they are almost 30 rendering any chance of a clean break from their Leftist upbringing until they are near 50 or 60.
The Democrats didn’t make life better for anyone. What they did was guarantee a Democrat voter for life.