Can We Stop the Obamacare Meltdown?
Craig Hasday
President, National Employee Benefits Practice | Directing Strategic Employee Benefit Growth | epicbrokers.com
Desperation seems to be setting in as President Obama's signature legislation crashes and burns. I watched a CBS News feature on Tuesday morning highlighting a 56% increase in the Tennessee market as Blue Cross Blue Shield’s market exit leaves only one insurer in that market. The same is true in Arizona with increases over 100%. Colorado is a disaster – as are many other states with rate increases – making the 12% numbers tossed around at the start of Obamacare seem palatable. If it weren't for Huma Abedin and Anthony Weiner, the Republicans would be all over this issue.
The exchanges are facing a death spiral that will be tough to stop, and our next president will be facing a firestorm of angry Americans whose costs have just exploded. So how to fix it? First, increase the individual penalty so that young, healthy Americans will think twice about rolling the dice and opting out. Second, allow carriers the flexibility to sell insurance across state lines. This is going to be difficult since medical mandates vary in each state, but the climate is right to broker a deal with the states on this. Also simplify HRA, HSA, and FSA rules so that people can better understand and use these products to help deal with affordability. Finally, get rid of minimum-value plans. This escape valve allows employers to skirt the rules.
For the sake of quality, affordable healthcare in the United States, we all need to pull together.
Visit Frenkel Benefits' blog for more thoughts and strategy about healthcare in America, the Affordable Care Act, and employee benefits.
President of The Virginia Northern Company (healthcare lobby & consulting)
8 年You advocate to increase the penalty for young people who do not enroll, which is contrary to a basic tenant of our Republic; freedom of choice. There were/are so many flaws with the creation of the HIX's, it is worthy of a B-school class on not knowing the market, not understanding the needs of the audience and the math never worked....Let's be intellectually honest, there were parts of ACCA that were sound and parts that were purly driven by idology. The execution in some areas good and other areas FUBAR.