What’s Another White House Obamacare Delay to a Trainwreck … Out-Of-Pocket Expense Caps Waived Until 2015
CAN’T WE JUST DELAY OBAMACARE PERMANENTLY!!!
What a shock, another promise of Obamacare turns out to be a falsehood and forces yet another delay in the train wreck. One of the selling points for ObamaCare was that it placed mandates on insurance companies to keep out-of-pocket costs down for consumers. Guess what, the Out of pocket caps have been delayed until 2015 by the Obama White House. What a coincidence, another Obamacare delay after the 2014 midterm elections. At what point do we just admit that Obamacare cannot be implemented and it is the disaster that we knew from the outset of this law that was forced down the throats of Americans by Democrats.
This is the reason why 57% of Americans polled believe OBAMACARE IS A JOKE!!!
Now comes word that another costly provision of the health law—its caps on out-of-pocket insurance costs—will be delayed for one more year.
According to the Congressional Research Service, as of November 2011, the Obama administration had missed as many as one-third of the deadlines, specified by law, under the Affordable Care Act. Here are the details on the latest one.
Obamacare contains a blizzard of mandates and regulations that will make health insurance more costly. One of the most significant is its caps on out-of-pocket insurance costs, such as co-pays and deductibles. Section 2707(b) of the Public Health Service Act, as added by Obamacare, requires that “a group health plan and a health insurance issuer offering group or individual health insurance coverage may not establish lifetime limits on the dollar value of benefits for the any participant or beneficiary.” Annual limits on cost-sharing are specified by Section 1302(c) of the Affordable Care Act; in addition, starting in 2014, deductibles are limited to $2,000 per year for individual plans, and $4,000 per year for family plans.
There’s no such thing as a free lunch. If you ban lifetime limits, and mandate lower deductibles, and cap out-of-pocket costs, premiums have to go up to reflect these changes. And unlike a lot of the “rate shock” problems we’ve been discussing, these limits apply not only to individually-purchased health insurance, but also to employer-sponsored coverage.
Hot Air reminds us that the cap on out-of-pocket expenses was supposed to be the best part of ObamaCare for consumers. Of course all it was going to do was shift the expense to an insured’s health care premium.