Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Investing

How Do You Solve a Problem Like Maria’s? Rescind Biden’s Short‐​Term Plans Proposal.

by August 4, 2023
August 4, 2023
How Do You Solve a Problem Like Maria’s? Rescind Biden’s Short‐​Term Plans Proposal.

Michael F. Cannon

President Biden has proposed requiring insurers (1) to cancel short‐​term health insurance plans after four months and (2) to refuse to re‐​enroll those patients. I’ve written previously about how these changes would increase the number of uninsured U.S. residents by 500,000.

The Biden administration believes those changes are necessary to force people into ObamaCare plans. They may be right. The non‐​partisan U.S. Congressional Budget Office reports that for many consumers, short‐​term plans offer a better deal than ObamaCare. Short‐​term plans often “have lower deductibles or wider provider networks,” the agency writes, at premiums “as much as 60 percent lower than premiums for the lowest‐​cost [ObamaCare] plan.”

But not everyone who loses access to short‐​term plans can just enroll in an ObamaCare plan. Congress generally prohibits those folks from enrolling until the following January. So Biden’s proposal would throw short‐​term plan enrollees, many of whom will have expensive illnesses, out of their plans and leave them with no coverage for up to 12 months.

Even then, ObamaCare will still be unaffordable for many people. I know one such individual personally. Let’s call her “Maria.”

Julie Andrews as Maria in The Sound of Music (1965).

Maria is an immigrant and postulant. That is, she is entering a monastery this year to study to become a nun. When she enters, her annual income will fall below the federal poverty line of $14,580. That’s plenty low to qualify for Medicaid but Maria’s immigration status makes her ineligible.

An ObamaCare plan would cost Maria at least 33 percent of her annual income, i.e., four times the 8.5 percent threshold that ObamaCare considers “affordable.” Why? She would have to pay the full $4,821 premium herself because (ironically) her income will be too low to receive a subsidy.

Fortunately, under current rules, there’s a more affordable option. Maria could purchase a series of one‐​year short‐​term plans. She would have many options, with premiums ranging from $1,100–$5,300 per year and deductibles ranging from $1,000–$10,000.

Crucially, a short‐​term plan would not require Maria to violate her religious beliefs. ObamaCare is so much more expensive in part because it would require her to purchase coverage for contraceptives and maternity care. One of those things violates her religious beliefs; neither of them she needs. Short‐​term plans leave Maria free to follow her conscience by declining to pay for contraceptives.

President Biden is a self‐​described pro‐​immigrant Catholic. His proposal would nevertheless require this immigrant and aspiring Catholic nun to pay contraceptives‐​coverage‐​laden premiums that are four times higher that what Biden himself considers affordable.

Despite its title, the “Affordable Care Act” made health insurance less affordable for millions. Short‐​term plans can help. Biden should rescind his proposal to limit them.

0
FacebookTwitterGoogle +Pinterest
previous post
Medicare and Social Security Are Bad Policies, Regardless of the U.S. Bond Rating
next post
Slower Job Growth, Treasury Yields, Earnings: Stock Market Looks For Support

You may also like

California Tries Charging for Electricity Based on Income

May 22, 2023

Trump’s Deportation Priorities Didn’t Shift, They Won’t Shift,...

June 17, 2025

States Pursue Alternative Licensing Pathways for Lawyers

March 28, 2024

A Legal Market for Organs

March 12, 2025

George Will: Overcoming Constitutional Queasiness to Head Off...

August 10, 2023

Independence in 1776; Dependence in 2023

July 3, 2023

Summarizing Harris’s Policy Book with a Word Count

September 27, 2024

David Boaz Gave Liberty a Bright Future 

June 7, 2024

Weak Income Tax Collections Pose Challenges for Some...

August 7, 2023

A Nobel Prize for Globalization

October 4, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • The Best Five Sectors, #28

      July 20, 2025
    • Why More Businesses Are Choosing a Fractional CMO Instead of Agencies and Junior Hires

      July 19, 2025
    • ‘Get a job’: Medicaid work requirements included in Trump’s megabill sparks partisan debate on Capitol Hill

      July 19, 2025
    • Trump has now been in office for six months, for the second time. Here are the highlights

      July 19, 2025
    • Week Ahead: NIFTY Violates Short-Term Supports; Stays Tentative Devoid Of Any Major Triggers

      July 19, 2025
    • Slovenia approves law to legalize assisted dying for terminally-ill adults

      July 19, 2025

    Categories

    • Business (8,525)
    • Investing (2,134)
    • Politics (16,122)
    • Stocks (3,222)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved