Want Free Healthcare?
Some good news from Obamacare, finally. Millions are eligible for the "bronze" healthcare plans that are basically free after Federal subsidy.
Seven-million people could qualify for free or nearly free healthcare plans, the New York Times reports. The big "however" is that the free plan isn't necessarily the best fit for you.
Independent estimates from Wall Street analysts and consultants have found that Federal subsidies would cover the cost of the bronze plans which are the least expensive. The bronze plans are meant to be available for people whose income is near the Medicaid threshold.
The reason why there isn't a big fuss about this plan from insurers is because bronze plans require higher out-of-pocket costs when receiving medical care. The low-cost plans cover around 60 percent of medical costs for the subscriber and provides standard benefits such as prescription drugs, maternity care and mental health treatment. Like all the other plans, bronze limits out-of-pocket costs to $6,350 per year for an individual.
This means that the "free" plan is best suited for poor/young/healthy set who can't afford or, fingers crossed, won't need so much coverage. Experts advised that paying slightly more for a silver plan may be much better if you want comprehensive care.
For example, Dante Olivia Smith, a 30-year-old lighting designer from Manhattan, learned that federal subsidies would allow her to buy a bronze plan for mere $24 a month. However, she told the Times that she ultimately decided on the silver plan for $91 a month that included dental and vision.
Do you think "free" healthcare is too good to be true?