#RINOCARE #TRUMPCARE #RYANCARE, whatever you call it, you’ve seen the wailing and gnashing of teeth over it.
Let’s talk about why this Insurance Agent (Did you know that is my day job? www.parkfamilyinsurance.com) is a fan of this replacement bill.
All the tax increases are gone – a couple I highlight specifically later.
The devastating slash to Health Savings Accounts is gone, they will be restored to what they were before Obama’s back-door tax increase at the expense of the middle class occurred.
Subsidies are replaced with Refundable Tax Credits. The means testing for how much is based on your age. Gone is the carrot and stick of government picking winners. The Tax Credits will allow a whole bunch of people to write-off the cost of their premiums versus a select few getting welfare.
Obamacare included the following sinister provisions that are gone:
4% per year profit mandate on Insurance Carriers, with no limit on how much you could lose – imagine being prevented from reserving for really bad years? Obama mandated that evil insurance companies issue a dividend when they made more than 4%. This provision was the single biggest driver of the massive rate increases.
Expense ratio mandates on Health Insurance Carriers are gone. This means long waits on the phone for service could be a thing of the past as they will be able to properly staff again.
ACA dictated Territories to Health Insurance Carriers, forcing odd geographical groupings and resulting in circumstances where a move of 2 miles could cause dramatic premium increases.
ACA dictated the ENTIRE outline of coverage. While un-discerning people blamed Insurance carriers for massive deductibles and copays, it was ACA mandates not Insurance Carrier decisions.
ACA dictated that Insurance Premiums index every year versus in 5 or 10 year age groupings, and that rates could only be triple at 64 as what they were at age 18. This caused everyone under 40 to get hammered.
ACA Dictated that families get charged per child versus on a family rate. This sinister provision disporportionally affected married families (think Republicans) with more than 3 children, because…
Subsidies (think Premium welfare) were based on income and the caps for a married couple were only 125% higher than a single person. This was indeed a form of the Clinton-Era “Marriage Penalty” that was built in to the tax code. Therefore, ACA encouraged divorce in order for cash-strapped families to afford health insurance for large families.
ACA forced people of all ages to pay for maternity coverage…
… and everyone regardless of faith to pay for Abortion Coverage, Contraception and of course the all important Sex Change Operations at $500k a piece plus all the drugs that go along with it.
The chilling attack on Religious Freedom was litigated many times with the Obama Administration making extremely scary arguments in court against the First Amendment.
I am not a fan of the Refundable Tax Credits, but let me tell you that they are a far better way of helping people afford Health Insurance as they eliminate the carrot and stick and are calculated on your tax return, not by a liberal activist Social Justice Warrior.
Gone is the 3.5% Real Estate Transfer Tax that was a direct assault on inheritances, businesses and land owners.
Added is the flexibility for insurance carriers to offer varied outlines of coverage.
Gone is the deliberate flaw in ACA that allowed dishonest states like California to flaunt the paperwork, instead requiring real proof of Citizenship or legal alien status to get Tax Credits and also mandating a 6 month review in order to keep cases from getting buried. This provision is the single most important in the whole replacement bill.