Tuesday, October 2, 2012

Is it a truly Affordable Health Care?

I am continuing to ask others what is important in this election.  Recently I have been getting the Affordable Care Act as a main issue and reason to vote for Obama.  One gentleman noted that without Health Care Reform, he would not have insurance.

I responded with a personal dilemma that I hope helps put this into perspective and as a Senior I am wondering if I am not alone on this.

I want to share with you something that is being impacted by the upcoming election that affects me personally.  I am asking all of you who support Obama, especially those of you who consider the Affordable Care Act to be the main reason for supporting Obama to reflect on my situation and help me to understand why I should vote for Obama.

Many of you know that I have a form of cancer called indolent, non-Hodgkin's lymphoma.  This requires aggressive treatment from time to time and I am looking at a possible bone marrow transplant over the next several months.  While I am not certain what the overall cost will be, I am certain it will be well in excess of $100,000. 

We have been blessed with a good job that has allowed me to purchase decent insurance at a rate that has been fairly affordable.  One way we have tried to manage our health care expenses and to more directly be responsible for our health care costs is that I chose a higher deductible (about;$7,000) and opted for a health savings account (HSA).  We have funded this HSA with the difference between the deductible and our anticipated out of pocket expenses.

Because of Obama's So Called Affordable Health Care plan, beginning in 2013, I will only be able to set aside $2,500 annually into my HSA.  This means that I will be "on the hook" without tax assistance for the difference between my deductible and $2,500.

This leaves me with a dilemma.  My choices would be keep the high deductible, take the 2,500 into the HSA account and pay out of pocket the nearly $5,000 of the difference between my deductable and the HSA without consideration against my after tax income.  This means that at my current tax bracket, I must earn $6,100 in order to have a net of $5,000 for my deductible.

My other option is pay nearly double my monthly premiums in order to get my deductible down to close to $2,500.  In either case, the so called Affordable Care Act makes my health care less affordable.

So when Obama tells you that he is not raising taxes on the middle class, I submit my situation as evidence piece number one that he is being less than honest on this matter.  I am confident that this is not the only situation in which this legislation has not fully represented the costs, especially to seniors who often need the most health care.

So you tell me, how is the Affordable Care Act helping me and why is it in my best interest to re-elect the President?  I'll be listening.

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