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Claim Jumping - How to ripoff Obamacare


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Do the math: the individual mandate will be a minor annoyance to some and a half to very cheap health insurance - as long as there's not a medical emergency.

  • Claim jumping is a real problem in Massachusetts costing them millions. Nationwide with Obamacare, it will cost $ billions. Here's more reasons to claim jump:
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Claim Jumping - How to ripoff Obamacare

  1. 1. Claim JumpingHow to (mis)use Obamacare By Craig J. Casey
  2. 2. What is the jump and dump?Happening in Massachusetts withRomneycare now:• Residents wait to get mandatory health care when they get sick.• Get an expensive medical procedure or treatment.• Cancel coverage, and go back to incurring annual
  3. 3. #1 Do the math Reward: You save $7,000 per person, $15,000 per family perRisk: An emergency year.procedure leads youinto BK, liens andwage garnishments.Mandated fines avg.around $1,000. Risks of going
  4. 4. #2 Penalties are much lower than health insurance• Violating the individual mandate costs $795, or annual 2.5% of income, compared to $7,000 in premiums.• You make over $16,245 as a single person or $44,100 as a family. Your healthcare premiums would easily exceed the penalty (up to about $275,000 in income)
  5. 5. #3 Your state refused to set up an insurance exchange• Congress never authorized subsidies for insurance bought via Federal Run Exchanges.• You won’t get any subsidy for in CA, CO, CT, HI, MA, MD, NV, OR, RI, WA, WY, UT, or
  6. 6. #4 Guaranteed Issue• After January 1st 2014, the Affordable Care Act’s guaranteed issue requirements go into effect.• Health insurance carriers can’t say no, regardless of how expensive your pre existing conditions will
  7. 7. #5 You don’t qualify for (or want) Medicaid• After Jan 1, 2014, Middle income adults and families with income from 133-400% of FPL may qualify for Medicaid, who previously had private insurance.• Medicaid enrollees have a hard time finding doctors and
  8. 8. Commercial break:• If you have assets or income, stay on your current plan or get covered until Jan 1. 2014. On our
  9. 9. #6 You get limited choices for more money• After Jan 1, 2014, Obamacare will only offer only 4 plan levels— Bronze pays 60% of health expenses, Silver, 70%, Gold 80%, and Platinum
  10. 10. #7 Congress approves a public option• Once premiums skyrocket, a Public Option with artificially low premiums would BK even more carriers.• Fewer choices, less competition means health insurance prices go still
  11. 11. #8 You get married• Two people filing jointly would get fewer subsidies than if they were cohabiting or
  12. 12. #9 Your family is excluded from subsidies• If an employer provides you with “affordable” employee-only coverage, the rest of the family may not be get subsidized coverage through the
  13. 13. #10 Your employer ends coverage• Your employer drops their company health plan or offers unaffordable coverage, so you are faced with joining a guaranteed issue
  14. 14. #11 You get a raise • You accepted a raise or promotions that pushed you over $43,320 as a single person or $88,200 as a family, the income limits for healthcare
  15. 15. What you can do now:• Shop health carriers for a high deductible plan with the HSA.• Stay enrolled until 2014.• Based upon your income levels, jump into the exchange if you need medical.• WARNING: Without health insurance, medical emergencies could be financially
  16. 16. About
  17. 17.