Obamacare mandated health plans have drug coverage. That drug coverage is basically worthless because high-deductibles and coinsurance (i.e. cost-sharing) ensures that most enrollees are paying for all of their prescription drugs out of pocket. Drug plans under Obamacare plans usually have tiered formularies and drug copays that vary based on the drug. When picking up a prescription it is often cheaper to whip out a drug discount card and pay cash than to whip out your health plan ID card and pay a copay.
Category: Public Insurance
A Health Reform Whose Time Has Come
The basic idea: take all the spending and tax subsidies we now provide to private health insurance and use that money to give every American not on a government health plan a refundable tax credit. This money could be used to purchase health insurance and make deposits to Health Savings Accounts, from which people could purchase health services directly. Rep. Pete Sessions has a bill that would do just that. More
Another Way to Lower Health Insurance Costs
This is Michael Cannon (gated):
In 2014 … the Obama administration exempted health insurance in American Samoa, Guam, the Northern Marianas Islands, Puerto Rico and the U.S. Virgin Islands from those regulations. Subsequent administrations have preserved this exemption.
If [Florida] lawmakers pass a law recognizing insurance licenses from U.S. territories, Florida consumers and employers could purchase individual or group plans from insurers in Puerto Rico or any other U.S. territory.
Many established health insurers already do business in the territories, including Aetna, UnitedHealthcare, Humana and BlueCross BlueShield — each of which already has provider networks in Florida.
Opening Florida’s market would improve the quality and cost of health insurance. Floridians could save 50% or more on their plans.