Obamacare

Obamacare to significantly raise rates in 2016

Are there alternatives?

It is no secret that the Affordable Care Act has transformed the way we get health insurance. While there are a few positive aspects of the law; for the most part it has had a negative impact on the overall healthcare experience. As a Certified Covered California insurance agent/Certified Financial Planner tm with a fiduciary responsibility to my clients, I inform my clients that there is a legal alternative to Obamacare plans.

First let’s discuss the impact of the law.

The positives.

  • Pre-Existing conditions will not make someone uninsurable
  • Children up to age 26 have access to their parents plan
  • Lower insurance rates for lower-income individuals and families through subsidies
  • Easier to qualify for Medi-CAL and Medicaid

The negatives

  • Restricted access to physicians. “If you like your doctors, you can keep them” didn’t work out
  • Networks in rural areas are severely limited
  • Physicians are paid less for services in Obamacare plans
  • Stuck with a one-size fits all approach to health insurance with very little choice
  • Increased cost of health insurance to middle and upper income individuals and families
  • In California, individual insurance policies, those not part of a group, must be Covered California policies
  • Projected insurance rates will increase up to 50% in 2016. The law was supposed to reduce the cost of health insurance; it didn’t happen. These high rates of insurance are making it even more difficult for the middle class to afford health insurance
  • People of faith paying for policies that cover procedures they disagree with
  • The majority of people enrolling in Obamacare plans are getting subsidies, the plans are unsustainable and are becoming budget busters

As a Certified Insurance agent I am compensated to put people into Obamacare health plans, and for my lower income clients who receive subsidies it is affordable. However, for many of my clients this approach is unaffordable.  I had to look for alternatives.

The best alternative I recommend is Samaritan Ministries http://samaritanministries.org/ . In Fact, this is who we use for our health care coverage.

Here is how it works….

If you are a committed Christian, you do not have to violate your faith by purchasing health insurance from a company that pays for abortions and other unbiblical medical practices. You can live consistently with your beliefs by sharing medical needs directly with fellow believers through Samaritan Ministries’ non-insurance approach.

This approach satisfies the federal health care law’s (Affordable Care Act, U.S. Public Law 111-148) requirement that you have insurance or pay a penalty-tax (see 26 United States Code Section 5000A, (d), (2), (B)). Members of health care sharing ministries demonstrate their exemption by using IRS Form 8965 when filing their tax return. If you are not required to file a tax return, you do not need to do anything to prove your exemption.

Every month, the more than 42,000 households of Samaritan Ministries share more than $10 million in medical needs directly—one household to another. They also pray for one another and send notes of encouragement. The monthly share for a family of any size has never exceeded $405, and is even less for singles, couples, and single-parent families. You may find additional information on the Alliance of Health Care Sharing Ministries website http://www.healthcaresharing.org/ .

Fortunately, my wife and I are healthy and haven’t had any expenses where we needed to use their services, however, I have several clients who have used Samaritan for their health care needs already; it worked as advertised.

If you are interested for a fantastic alternative to Obamacare, want to save money, and you are a Christian then visit their website and check them out. Give us a call at 1(888) 203-8797 if you have any questions.

Russ Brown, CFP®

www.RNAFinancial.com

1 (888) 203-8797