Obamacare and my health policies...

Don't want to get into the politics of this evening...The elections.  But I'd like to throw out my situation and see what you think would be the best thing for me and my wife to do.  I am 57 and my wife is 55.  Both of us have preexisting conditions.  I have my own policy which costs about $1,750. a month.  My group is old farmers between 55-64 years of age.  My wife's policy is for her and my daughter.  It's about $625. every month.  I can't get on her policy and she can't (who would) get on mine.  I also have one of those limited coverage plans at work that has a limit of $50,000. per year.  You go into the hospital for a week and you have used it up!!

So some of my questions are; since the Republicans control the House will they fund Obamacare?  Is it going forward...Or will it be stopped flat in its tracks??  These 2 policies are eating us alive.  I'm trying to protect our assets and retirement.  Instead of having a clearer picture of how to plan for my health protection it becomes muddier.  Your thoughts??

Wow that is serious.  I dont know the ins and outs of Obamacare but I live in Canada, Ontario in particular and my surgery and all the testing is completely free  I hope the powers that be .come up with  health care benefits for everyone.  It certainly works for the most part here

Brian,

Most of the PPACA takes effect in 2014 but certain provisions are enacted now and others each year until 2020.  From what I can tell all existing policies are grandfathered as is until 2018 when all existing health insurance plans must cover approved preventive care and checkups without co-payment.  However, what is not known is how this new dynamic will really affect costs of services and policies, both new and existing in both the short and long term.  Insurance companies are in business to make a profit.  So, when their costs rise, the consumer foots the bill in higher premiums and deductibles, and in lower caps.

The congressional funding aspect of the PPACA has to do with the extension of Medicaid; the creation of subsidies for low income individuals and micro-businesses; the changes to Medicare; and the acceptance of state waivers.  So, not funding these provisions will not stop the implementation of the other requirements.  Since the Senate is retained by the democrats for at least 2 more years, repeal is not possible.  As long as the democrats hold the Whitehouse I doubt the Senate will ever have a 2/3s republican majority to overcome a veto.  So, no repeal for at least 4 years and by then the majority of the PPACA will have been implemented with the healthcare and insurance industry (and us) living in this new healthcare reality.  Since the Supreme Court has already spoken on the constitutionality of the PPACA, this law will go forward.

Bottom line is those of us with pre-existing conditions should end up with insurance companies offering new policies that will be lower in price for the same coverage for us but higher for the same coverage for those without pre-existing conditions.  In effect, the "healthy" subsidizing the "unhealthy".  If I were you, I would wait to see how the offerings are impacted post-2014 and change policies then.  A new policy at that time should be less for the two you have now and include a lot more coverage for you.

My thoughts,
Mike