Talking Points Memo, an online news site, reports on a troubling new occurrence in their piece “Special Investigation: How Insurers Are Hiding Obamacare Benefits from Customers”.
Don’t have time to read the 2,000 word investigation? That’s OK – here’s what you need to know.
Back in September, Donna, a 56-year-old Seattle woman, opened a letter from her insurance provider. They were cancelling her current plan, and the new plan she’d be automatically enrolled in would cost her an additional $300/month – bringing her family’s health care expenses to over $1,000/month. The letter didn’t notify Donna of benefits she might be eligible for under federal Affordable Care Act (ACA).
Thankfully, Donna was up-to-speed on the ACA and our state’s online health insurance marketplace – Washington Healthplanfinder. She was actually able to find a more comprehensive plan with a smaller deductible and lower monthly premium.
TPM reports:
Before Obamacare, Donna paid a $724 monthly premium for $10,000 deductible, catastrophic health coverage from LifeWise, a subsidiary of the state’s Blue Cross/Blue Shield affiliate…Under the new LifeWise plan, Donna would have to pay more than $1,000 a month, a nearly $300 per month increase and a huge hit for a family with an income around $40,000. It was bare-bones coverage by ACA standards, with a $6,350 deductible.
The letter, which you can read here, made no mention of the insurance marketplace that was about to open, where she could shop around for other options. It did mention that she might qualify for financial help in the form of a tax credit but the onus was on Donna to call the insurer for more information.
Fast forward a month, and Donna was able to log onto Washington’s marketplace and shop for insurance. And what did she find? Options. A LifeWise plan with the same deductible they offered her outside the exchange was a little cheaper. Plans with a lower deductible had the same or lower premiums as the LifeWise plan. What she ended up buying was a plan through Community Health Plan of Washington with a $250 deductible.
Donna’s story is a cautionary one and the lesson is simple: know your options.
You can learn more about your health insurance choices by visiting www.wahealthplanfinder.org or by speaking to a health insurance expert at 1-855-WAFINDER.