ARE WE IN THIS TOGETHER OR ARE WE SEPARATE ?
Insurance risk pools work better when it is a diverse mix of people with different levels of health and risks.
The Presidential Executive Order on Healthcare essentially is about separating the risk pools.
Everyone on their own.
If you are young and healthy , you pay less.
If you are sick, disabled , or older, you pay more.
1. Allows longer access to cheaper short-term insurance plans, that are junk– they are not subject to benefit mandates and they provide few coverage guarantees. People who buy it cheap, will feel happy, till they get sick and need major care.
2. Allows Association Health Plans
Self-employed people maybe allowed to sign up for a group , association plans, so younger, healthier folks will leave the individual insurance exchange market of ACA.
3. Makes it easier for larger employers to offer money to help their employees go buy a plan on their own, but not provide a company health benefit.
4. Stops the CSR payments – cost sharing rebates subsidies – to the companies currently providing ACA individual health insurance.
This will just accelerate the crisis. Rate hikes, exodus from individual insurance market- collapse of the imperfect but innovative and inclusive ACA.
It will mostly affect about 10-15 million Americans who use the individual insurance market.
But it will also affect the rest of us.
At Pequot Health Care, we have a diverse team of experts in self-funded health insurance, plan design, stop loss, network and utilization analysis and interventions. As a certified TPA [ Third Party Administrator] we deliver overall better value in healthcare benefits for the employees and the employers.
We will continue to study the changes in healthcare, insurance markets, and provide agile service to small, medium, or large employers that understand the great value of self funded total health benefits.
#SelfFunded #SelfInsured #HealthBenefits