Last month I wrote about Humana’s decision to terminate most of their ‘non-grandfathered’ individual and family health insurance plans no later than December 31, 2014. The second carrier to make this decision is Aetna. They too will terminate most ‘non-grandfathered’ individual and family health insurance plans no later than 12/31/2014. In other words, Barack Obama lied when he said “if you like your plan, you can keep your plan.” This is of course is no surprise to high information voters.
The truth is these plans would have been terminated last year but Barack Obama used his “pen and his phone” to unilaterally delay the termination of these policies for one additional year or in the case of United HealthOne even longer. This was done to help the Democrats in the upcoming mid-term elections in November 2014.
Your options now
According to Aetna. Existing policy holders will begin receiving policy termination notices beginning in August. No worries though! Aetna recommends the Obamacare “Bronze” plan which has a $6,000 deductible per person times two family members. Unless of course your income is well below 400% of the federal poverty level. If this is the case, you will qualify not only for an APTC – “Advance Premium Tax Credit” – but you could also qualify for a “Cost Sharing” credit which will lower that $6,000 deductible. Both of which may cost the few, the proud, the 49% of us who still pay federal income taxes $16.3 billion this year alone. Not to mention the hundreds of billions we taxpayers will be paying to bail out the health insurance industry this year. Forward………