A reader lamented in a recent letter that she and her husband, ages 59 and 60, must pay $35,179.68 for health insurance in 2018 for an Anthem bronze plan with a $5,400 deductible that is no great shakes. It's understandable that the reader would want to brainstorm solutions to such a pickle.
The reader said she favored nonprofit health insurance. What's so great about health insurance from a company that doesn't have shareholders and doesn't pay taxes? Blue Shield of California, a huge nonprofit California health insurer, was stripped of its tax-exempt status by the California Franchise Tax Board in 2014 for hoarding massive cash reserves of more than $4 billion. That cash was nothing but amassed profits. Nonprofit my foot.
The reader said she favored ColoradoCare. Why would she want that, when her current predicament of paying the equivalent of the annual mortgage payment on a million dollar home for health insurance is the direct result of the market distortions and third-party subsidization wrought by Obamacare?
Lastly, the reader hoped that a Colorado co-op plan would materialize. Who would want that, considering all the states with failed co-ops, including Colorado? Here's the list of the amount of each state's defaulted loan and the number of enrollees who lost coverage in the co-op fiasco:
•Arizona – $93 million in a loan, 59,000 lost coverage
•Colorado – $72 million in a loan, 80,000 lost coverage
•Connecticut – $128 million in a loan, 40,000 lost coverage
•Illinois – $160 million in a loan, 49,000 lost coverage
•Iowa/Nebraska – $145 million in a loan, 120,000 lost coverage
•Kentucky – $146 million in a loan, 51,000 lost coverage
•Louisiana – $66 million in a loan, 17,000 lost coverage
•Maryland – $65 million in a loan, 9,000 lost coverage
•Maine – $132 million in a loan, a portion of 71,000 will lose coverage
•Michigan – $72 million in a loan, 28,000 lost coverage
•Nevada – $66 million in a loan, 63,000 lost coverage
•New Jersey – $109 million in a loan, 35,000 lost coverage
•New York – $265 million in a loan, 208,000 lost coverage
•Ohio – $129 million in a loan, 22,000 lost coverage
•Oregon – $61 million in a loan, 15,000 lost coverage
•Oregon – $57 million in a loan, 21,000 lost coverage
•South Carolina – $88 million in a loan, 67,000 lost coverage
•Tennessee – $73 million in a loan, 29,700 lost coverage
•Utah – $90 million in a loan, 56,000 lost coverage
•Vermont – $34 million in a loan – never licensed
Why would anyone want to double down on the selfsame flawed policies that saddled her family with a $35,179.68 annual health insurance premium? According to the Insurance Information Institute, there were 858 insurance companies selling health insurance in the United States in 2016. Isn't the better solution to take whatever steps are necessary to allow the other 857 companies besides Anthem to sell health insurance in Ouray County?