Beginning my new series of posts about the popular provisions of Obamacare, you should find the first up on The Axiom Report (see my side bar) today. I'll update this post when it goes live. Update- It's Live
The first post is fairly information dense and it sets up a lot of things you'll need to know for the rest of the posts to make sense. So here's the Reader's Digest version, but really do click over and read the whole thing.
1- There are essentially 3 kinds of Health Insurance Plans: Fully Funded Group, Fully Insured Group, and Personal.
2- The only two that insurance companies get to use to spread their own risk are the Fully Insured Group and Personal policies.
3- Group insurance is often subsidized, partially or fully, while you pay 100% of any Personal policy premiums.
Now, you may be asking why I feel qualified to talk about these things. I worked for BlueCross BlueShield of Texas, processing claims and then providing phone and written customer service for the Texas Health Insurance Risk Pool for about three years. After that, I stayed in Health Care IT until about 18 months ago. I've worked at a Claims Clearing House, assisting doctors and hospitals with getting their claims billed and submitted properly so they could be paid more quickly, and at a COBRA and FSA administrator. I know health care. Specifically, I know health insurance, how it works, and how it does not work.