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So much misinformation regarding the Health Care Law, I would like to share my experience. Before I do that, let me point out that folks have until March 15 to decide which insurance company/exchange they decide to use, so there is plenty of time to research. Some are making a big deal stating that thousands who have had coverage through their employers are now being “kicked off” and left with nothing. The reason this is happening is that companies have come to believe it is better for individual employees to purchase the plan best-suited for them and their families, rather than having deductions from their paychecks for a health care plan that may not be the best for their situation. So, they are removing from their pay checks the deduction for health care and thus, allowing the employee to use that extra money to purchase a plan that better serves the health situation of themselves and their families.
Following retirement, we continued to be covered by our employer until two years ago when they decided to free us to find our own plan and they discontinued the deduction from our check. This is what happened: Because we are basically healthy, we chose a plan that covers basic medical care and, by so doing, this saved us $70/month. When we were covered under our employer’s plan, everyone paid the same and those of us who were healthy were paying into a higher premium than we needed. We have been able to set aside this $70/month to help meet things like dental care for which we have no insurance. And, of course, if our health needs change, we are allowed to “upgrade” our coverage any time we feel the need to do so. Just like the Health Care Law, our employer was simply “ahead of the game.” I hope this will be helpful.