Mark the Unhappy Liberal

Self employment has been good to my client Mark. He went from working for "the man" four years ago to building his own small business. Over those years times were tough for Mark and his family. Getting the business off the ground was tough and because of a prior medical condition Mark's wife was uninsurable. The good news was he was able to utilize COBRA and pay an "outrageous" premium of $798 per month for a $3000 single deductible CDHP plan. When it expired in 2011 the family was forced to make a decision. I had advised him with his COBRA decision and now he was calling again hoping to find cost savings and make sure that his wife had insurance.The good news was we were able to insure the entire family and lower the deductible to $2500 single deductible. The new cost was $498. Mark and his family couldn't be happier. In their opinion it was all because of Obamacare. Fast forward to last month.With an income of $95,000 per year and a plan that was no longer going to be available because it doesn't meet the law, I encouraged Mark and his family to take an early renewal option to avoid the high costs associated with community rating and new mandated benefits. His 2013 rate was $632 and an early renewal option would only increase the rates to $651. Against my advice he refused the early renewal. "You've been a great help but I believe in the Affordable Care Act. There is no way that the costs and subsidies will make me any worse off." So we went the other direction and sta...
Source: InsureBlog - Category: Medical Lawyers and Insurers Source Type: blogs