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The Affordable Care Act (AKA “Obamacare”) Is Going To Save Me Over $10K Per Year

Published On October 2, 2013 | By admin |

I have written about the travesty of the American “Health Care” System before.  Our current system benefits Big Pharma and CEOs.  And the reason why the current GOP Congress has been fighting tooth and nail to get the Affordable Care Act off the tracks, is because it will make health insurance premiums go to actual health care for the insured.

I have been self-employed since 2002 and have had health insurance, on the same policy, with Blue Shield the entire time.  I am currently paying $811 per month.  My premiums have been raised frequently, randomly and excessively, particularly since they could see that their fleecing of the American public would soon be coming to an end.  They could see that with President Obama and the Affordable Care Act that the only way they would be able to continue to rape us–without even a hint of lubricant–would be to raise the premiums early and often.  Here is a brief history of MY PERSONAL PREMIUMS as a single self-employed female with Blue Shield:

ceo-pay2007                                                   $192.80

2008                                                   $219.00

12/2008                                             $242.00

6/2009                                               $312.00

12/2009                                             $379.00

10/2010                                             $429.00

12/2010                                             $467.16

1/2011                                               $481.00

2/2012                                               $552.00

10/2012                                             $630.13

11/2012                                             $725.00

3/2013                                               $811.00

blue shield invoiceWorth noting:  When health insurance companies talk about the “rising cost of health care“, take a look at their profits and what they pay their executives.  Health Care Service Corporation is the parent company of Blue Shield, my insurer.  Patricia Hemingway Hall, the CEO of Blue Shield received a 61% pay increase in 2011 to a somewhat comfortable $12.9M for that calendar year.  The parent company of Blue Shield, Health Care Service Corporation, booked a NET income of more than $1B in both 2010 and 2011.

ChicagoBusiness.com reports:

The CEO of the parent of Blue Cross & Blue Shield of Illinois received a 24 percent pay increase in 2012, to $16 million, even as the company’s net income declined, according to a filing with state insurance regulators.

 

Patricia Hemingway Hall’s 2012 base salary was just $1.1 million, but the nurse-turned-executive garnered a $14.9 million bonus. The CEO of Chicago-based Health Care Service Corp. received $12.9 million in 2011.

 

Her 2012 compensation is about 70 percent of the $23 million that the company has agreed to pay to acquire Blue Cross & Blue Shield of Montana.

 

The big bump in Ms. Hall’s pay came even though the company, which also operates Blues plans in Texas, Oklahoma and New Mexico, booked lower net profits on its core insurance business in 2012.

 

Health Care Service posted $1.01 billion in net income and $20.65 billion in revenue last year, a drop in profit of about 16 percent from 2011, when it earned $1.20 billion on revenue of $19.91 billion, according to annual financial filings. The numbers reflect Health Care Service’s fully insured business, not its administrative services-only segment for self-insured plans.

 

Despite the decline, Health Care Service has crossed the $1 billion mark three years in a row.

I apologize for digressing, but I am so angry.

But here’s what the Tea Party and the GOP don’t want you to hear.  Yesterday, October 1, 2013 marked the first day of open enrollment for the Affordable Care Act.  I called Blue Shield, my current provider, to see what my options were–although I must admit I was very skeptical.

To my surprise, I was told:

  • My $811 monthly premiums would be reduced to $85 per month
  • My $2400 annual medical deductible would be reduced to $500
  • My current maximum out-of-pocket expenses are determined by a complicated multitude of factors and would be reduced from a minimum of $4800 per year to a maximum of $2250 per year
  • My regular primary care physician visits are going to be reduced from $150 to $15
  • My lab work, x-rays, mammograms, etc. will be reduced to a maximum of $15 each–many preventative visits are INCLUDED in the monthly premiums!

aff-care-actEssentially, I will be able to pay for actual health care and not just health insurance premiums.  I will be saving at least $11,262 per year thanks to President Obama and the Affordable Care Act.  I know,  I know…  Now, since 85% of all premiums paid to insurance companies MUST be spent on health care, those poor, poor executives might have to take a pay cut.

Are you crying?  The only reason why I’m crying is because I’m going to start being treated like a human being–Thanks to President Obama and his team–AND because the GOP Congress fought so hard to take this away.  We live in a seriously fucked up society ruled by greed.

Share this story far and wide. It needs to be told.

Veruca  | Co-Founder | The Everlasting GOP Stoppers

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