by Reality Check » Tue Jul 30, 2013 1:42 am
John wrote:Bankrupt Detroit to seek federal bailout through Obamacare
Detroit, which filed for bankruptcy July 18, 2013, is pursuing a plan to shift retirees from city-run health coverage to exchanges under the Affordable Care Act, or Obamacare. If implemented in full, this would essentially be a $5.7 billion federal bailout of Detroit, eliminating the amount it owes on retiree health care costs. Many other bankrupt or near-bankrupt localities, such as Chicago, Sheboygan County, Wis., and Stockton, Calif., are going to be watching this Detroit plan carefully, to see if they can get away with the same thing.
This would be another very cold shower for unions, if it happens. Obama care will shift a huge portion of the Health Care costs from the employer, Detroit, to the retired individuals. Obama care only subsidies a portion of the cost of the worse option of Obamacare ( the U.S. government will pay only a portion of the so-called Bronze insurance plan and then only the poorest retirees will receive the maximum allowed subisidies). The Bronze plan is very poor insurance, deductibles in the thousands of dollars a year, high co-pays, minimum 30% co-insurance paid by the retirees, new strict limits on what the insurance will pay for common medical procedure, and a new federal law as part of Obamacare allowing hospitals and doctors who work through hospitals to charge the difference directly to the patients.
[quote="John "]Bankrupt Detroit to seek federal bailout through Obamacare
Detroit, which filed for bankruptcy July 18, 2013, is pursuing a plan to shift retirees from city-run health coverage to exchanges under the Affordable Care Act, or Obamacare. If implemented in full, this would essentially be a $5.7 billion federal bailout of Detroit, eliminating the amount it owes on retiree health care costs. Many other bankrupt or near-bankrupt localities, such as Chicago, Sheboygan County, Wis., and Stockton, Calif., are going to be watching this Detroit plan carefully, to see if they can get away with the same thing.
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This would be another very cold shower for unions, if it happens. Obama care will shift a huge portion of the Health Care costs from the employer, Detroit, to the retired individuals. Obama care only subsidies a portion of the cost of the worse option of Obamacare ( the U.S. government will pay only a portion of the so-called Bronze insurance plan and then only the poorest retirees will receive the maximum allowed subisidies). The Bronze plan is very poor insurance, deductibles in the thousands of dollars a year, high co-pays, minimum 30% co-insurance paid by the retirees, new strict limits on what the insurance will pay for common medical procedure, and a new federal law as part of Obamacare allowing hospitals and doctors who work through hospitals to charge the difference directly to the patients.