CRISOPEYA Blogs

Health Reform and Brokers

So now that health reform has passed and has been written about and reported on so extensively, the only topic left to cover is what will happen to health insurance brokers after health reform begins to change health insurance in roughly six months, and to their individual health insurance market.  I am about to give a scenario which is based on the current law (yes health reform is now a law), and what has happened in states like New York and Massachusetts where this model originates.

By the way the quote button above is a reminder that you can still buy health insurance as an individual, which means that this massive website that I built can still be used to find affordable health insurance, until such time as it is replaced by the state health insurance exchange should this actually end up happening.

In my opinion (which is based on the General Accounting Office numbers which probably also qualifies as an opinion), individual health insurance will eventually end, at least in terms of agents, just like it has in Massachusetts. where everyone buys insurance from the exchange.  So again, individual health insurance will still be available, but only in health insurance exchanges where each state is responsible for their own exchange and which companies offer plans through it.

For our current jobs in individual health insurance to stay viable, everyone would need to do as the law intends, which means buying health insurance or getting it through their employer.  The rest of course will either qualify for premium assistance to make up the difference or Medicaid which is slated to expand to cover 35 million more Americans.  In and of itself, this is a fallacy, as the state budgets are already so bankrupt and deficit ridden that they have been cutting benefits and coverage to people that really need it since the recession began.  In fact Arizona just got rid of their CHIP program (health insurance for children) and would have cut even more, had this law not passed which specifically demands that the states not cut any programs nor make it more difficult to qualify for government health insurance programs.

Further, this new health care law is based on the absurd notion that younger and healthier people will  buy health insurance through the health insurance exchange.  This will inevitably not happen because premiums for younger Americans are going to surely become, at least in the short term even more expensive.

This is because the health care legislation will leave insurance companies with no other choice but to raise premiums even higher because for one, this law has provisions that keep premiums for the young and old within a certain ratio.  Secondly, and more importantly, because the young and healthy simply will not ever think about health insurance much less buy it no matter what the law.  Not to mention that health care costs have risen wildly on their own accord just in the time it took you to read this article.

And finally and most importantly, young people and most of the uninsured right now for that matter, will not buy health insurance because the law only penalizes them $695 which is not even significant when compared to what premiums are and what they will become under this law.

“..younger, healthy Americans likely will shoulder premium hikes, at least initially,” said industry lobbyist Kelly Atkinson, executive director of the Utah Health Insurance Association.
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