Where are we Baby Boomers on the subject of Obamacare? I’ve heard from some friends that they will lose health coverage if Obamacare is abolished. The Affordable Care Act (affectionately or derisively called Obamacare) a body of law reforming the health-insurance industry took effect in 2014. Among those reforms has been guaranteed coverage for everyone, regardless of health status—a huge boon to the many boomers with pre-existing conditions.
Insurance has become more accessible, and cheaper than comparable coverage for those who qualify for government subsidies. That’s a combination of benefits that some experts called a “game changer” for early retirees and self-employed boomers.
We realize that these health exchanges have not been for all Boomers. Many Americans get health coverage through your job. The marketplaces are for those purchasing “non-group” individual and family coverage, and for small businesses with 50 or fewer full-time equivalent employees.
But for a lot of Boomers, Obamacare has been a big positive, especially as insurance companies are no longer able to deny individuals coverage based on pre-existing conditions such as diabetes or high blood pressure. What’s more, people with pre-existing conditions can’t be charged more based on their health status or issued a policy that excludes coverage for their particular condition, practices that had remained common today.
Uninsured people, and boomers in particular, have undoubtedly received a boost from the Affordable Care Act. Also, insurers can no longer raise prices for a policyholder after he’s gotten sick. It used to be common for a person with individual coverage who was diagnosed with, say, cancer, to see big premium increases at policy renewal time. Since his cancer would seriously limit his other insurance options, he’d have little choice but to pay the increase in order to keep his coverage.
Live long and prosper no matter what side of this you are on. This is not a political forum.
But I am curious to hear from you out there, especially our Boomer community–would you like to see Obamacare stay or go? If you would like to see Obamacare repealed, what do you think the Republicans’ replacement plan should look like?