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Lt. Gov. Mary Taylor
Dayton Business Journal...
Obamacare limits
choice, increase cost
Thursday, September 8, 2011
Obamacare is so complex that only a few of its impacts have been widely
publicized. In fact, many of the law’s far reaching mandates and
requirements are still being defined by Washington bureaucrats. But as
you look closer at some of its lesser known provisions, one thing
becomes clear: the authors of Obamacare are more concerned with a
government takeover of health care and less worried about you the
consumer and the increasing cost of health insurance because of this
law’s mandates. Here are just three of the major market changes – among
many – that all Ohioans should understand.
First, the law’s heavy-handed mandates force insurance companies to
include coverage for many benefits and services you may not want. Say
for example, you do not have any children. Under Obamacare, you would
still have to carry insurance that covers pediatric, maternity and
newborn care even though you do not need it. Such mandates remove
consumerism from the process and replace it with a one-size-fits-all
approach. By requiring consumers to buy services they do not want or
need, costs will rise significantly.
Second, Obamacare limits the deductible amount a consumer can choose to
pay each year. Today, similar to car or home insurance, health
insurance can be purchased with high deductibles or low deductibles
impacting the monthly premium you pay. Obamacare limits high deductible
plans leaving consumers with fewer choices. These restrictions,
however, have not yet been clearly defined by Washington bureaucrats
who could make them even worse.
Third, Obamacare squeezes the rating rules for insurance carriers in
Ohio forcing some to pay higher premiums. This means you will no longer
pay premiums for health insurance based on your choices and lifestyle
as much as you do today. For example, insurance companies can currently
rate an individual on a wide array of factors such as health status,
occupation, and tobacco use. Because there are so many factors, there
is more competition among insurance companies resulting in more options
and lower costs for consumers.
But when Obamacare is fully implemented there will be only four rating
factors permitted under law. Those are age, family status, geographic
location and tobacco use. By narrowing the playing field, consumers
will have less control over their health care costs based on the
decisions they make compared to today’s laws. And because choices are
no longer rewarded, insurance companies will be forced to treat
everyone the same resulting in skyrocketing premiums for many low-risk,
health conscious consumers.
Simply put, these changes all have one theme in common – government
knows best. In other words you the consumer do not know how to buy
insurance for yourself; you need the government to tell you what you
must purchase. There is no consumer-driven, market-based approach when
Obamacare is fully implemented. Choices will be limited, mandates will
be increased and costs will continue to rise but at a much faster pace.
The intent behind the law seems clear. Obamacare is government telling
you what you must have – it is not a solution that provides you with
the health care options that you want and need.
Read the column at Dayton Business Journal
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