Doug Kellett, Contributing Editor to A Line of Sight.com, hosts a morning talk show on WPTF 850AM, Raleigh, North Carolina. Since ObamaCare officially launched October 1, Doug has been pleading to hear from someone who had successfully logged into the calamitous website.
Finally on October 22, Doug heard from a caller identified as "Gary from Raleigh". He is the only person Doug has heard from so far who actually got to the pricing page on Healthcare.gov, the official website.
Gary's household includes two adults in their 40s and three children ages 14-18. Below is the screen shot of from the pricing information as Gary found it and forwarded to Doug at WPTF, and below is Gary's summary analysis of the information.
Last Monday from the Rose Garden, Obama lauded his own legacy legislation for providing Americans health insurance at a cost about the "equivalent of your cellphone bill or your cable bill – and that's a good deal." The cost of cable and cell service must be exorbitant at the White House. Take a look at what Gary discovered and you decide just how good it is.
Submitted by caller "Gary from Raleigh" to Doug Kellett, WPTF, Raleigh, NC, Tuesday, October 22, 2013.
Gary from Raleigh's analysis once he got through the Healthcare.gov web site:
Quick analysis of what I see in the plan comparison screen:
1. Total Premium is the minimum out of pocket I have to pay just to say I have insurance but never use it. This can be calculated by multiplying the monthly premium by 12 months.
Bronze - 12 months x $1,051.90 = $12,622.80
Silver - 12 months x $1,354.26 = $16,251.12
Gold - 12 months x $1,508.35 = $18,100.20
Platinum - 12 months x $1,677.60 = $20,131.20
2. Minimum amount out of pocket before the insurance pays anything. This can be calculated by adding Total Premium with the deductible. This assumes the traditional definition of deductible(I pay everything until the deductible is met, I don't know if this is changing or not)
Bronze - 12 months x $1,051.90 + $9,550 deductible = $22,172.80). Then the 60/40 kicks in.
Silver - 12 months x $1,354.26 + $5,975 deductible = $22,226.12). Then the 70/30 kicks in.
Gold - 12 months x $1,508.35 + $1,417 deductible = $19,517.20). Then the 80/20 kicks in.
Platinum - 12 months x $1,677.60 + $1,000 deductible = $21,131.20). Then the 90/10 kicks in.
3. Max cost by plan - This can be calculated by adding the Total Premium and the Out Of Pocket Max
Bronze - 12 months x $1,051.90 + $12,262 = $24,884.80
Silver - 12 months x $1,354.26 + $12,700 = $28,951.12
Gold - 12 months x $1,508.35 + $9,000 = $27,100.20
Platinum - 12 months x $1,677.60 + $3,000 = $23,131.20
An interesting item here is that the Platinum plan followed by the Bronze plan are the best option if you have going to have major medical during a year. If you look at the insurance.png you will see the number of possible plans and the number of insurance companies. In all fairness the Copayment, deductible and out of pocket max amounts are "Average" so some will be higher and some will be lower. They were not shown without you actually drilling into each plan.