Saturday, November 16, 2013

Healthcare Insurance Bandaid

Yesterday the House of Representatives passed H.R. 3350 (http://www.gpo.gov/fdsys/pkg/BILLS-113hr3350eh/pdf/BILLS-113hr3350eh.pdf) that will allow health insurance companies to continue to offer insurance policies that did not meet the grandfather clause of the Affordable Care Act or the minimum standards set in place by ObamaCare. Rep Upton (R-MI) sponsored H.R 3350 that passed 261-157 with over 30 Democrats voting in favor of it. Earlier this week, President Obama acknowledged that his pledge that if you like your health insurance you can keep it was not accurate. While President Obama did not say he lied to the public, he did recognize that "We put a grandfather clause into the law but it was insufficient."

Throughout the week, the drum beat has been that this misstep to dropped coverage only applies to the 5% of the market. While that is accurate, what is not discussed or even raised is that waivers were given to the rest of market until 2015. What will happen in October of 2014 when ObamaCare provisions of the law are applied to employer based health insurance plans?

President Obama also said during his press conference this week that, "We're also requiring insurers to extend current plans to inform their customers about two things. One, that protections -- what protections these renewed plans don't include. Number two, that the marketplace offers new options with better coverage and tax credits that might help you bring down the cost." A) The Executive Branch does not have power to make/alter law that is the power of the Legislative Branch. B) Offer more coverage or options never drops the cost of anything!

Now a Bipartisan bill has been passed by the House of Representatives, which President Obama plans to veto, ought to be given a vote in the Senate. Rep. Pelosi is accurate when she stated prior to Affordable Care Act being passed when she said that once we pass this bill we will know that is in it.