The Danger of President Obama’s Insurance for Children (SCHIP)
March 16, 2009 by Be Safe Insure
Filed under -, 2. Personal Insurance, Health
We have already written quite a bit about the changing Obama will be bringing to the world of insurance. The following press release sheds light on what is happening in the field of health insurance for children.
“The Danger of President Obama’s Insurance for Children (SCHIP)
Democrats are moving quickly to socialize American health care with the SCHIP expansion. Michael Tanner of the CATO Institute whined, “Shouldn’t we at least talk about it?” The cost to the federal taxpayers is enormous and President Obama has promised to reduce funding in Medicare to help pay for SCHIP’s expansion. Representative Steven King (R-IA) labels SCHIP expansion, “A Cornerstone for Socialized Medicine.”
The biggest problem with SCHIP is the danger to children who sign up for it. Millions of children have been terminated off of their SCHIP insurance on their 19th birthday regardless of their medical history. Ron Greiner of Save101.com warns, “My daughter has MS and the medication alone is $2,500 a month or $30,000 per year. You want insurance on your child that is permanent and portable with a high lifetime maximum benefit of at least $5,000,000.”
Millions of children are expected to switch to SCHIP from their parents’ employer-based insurance. Some employers charge workers $300 to $500 a month to insure a child. Ron said, “Employer insurance is too expensive. In Tampa, HSA ‘Individual Insurance’ for a child is less than $50 a month that pays 100% after the deductible on covered inpatient, outpatient and prescription drugs. Like many HSA plans it has a $0 deductible for preventative services.” In Des Moines a child can enroll on permanent HSA insurance for less than $40 a month. Parents can call 877-Save101 to determine their child’s cost.
Ron believes parents don’t need government to have a plan. He tells parents, “Insurance for children is inexpensive. Parents that choose SCHIP are gambling that their child won’t get sick or hurt.”
Save101.com specializes in HSA insurance for the self employed. Many families have HSA health insurance for less than $200 a month, then they grow their savings in their HSA. Ron says, “The HSA is great to save with because the HSA enjoys tax free deposits, growth and withdrawals. IRAs and 401Ks are old taxed accounts. Some people save more each year in taxes, with their HSA, than the cost of their insurance!”
(press release)
