Senator Ernst (R-IA) Begged for a Shot at Obamacare
Senator Joni Ernst prayers have been answered. Joni Ernst said she was going to “UNLOAD” on Obamacare. She begged Iowa voters to, “Give me a SHOT.” Joni Ernst promised that if she was elected she would “make’em squeal” in Washington DC. Now is the time for Senator Joni Ernst to save Iowa’s hardworking self-employed population by fulfilling her promises.
Senator Ernst doesn’t need a calculator to do the math. On 10/01/2017 the self-employed people of Iowa have a choice. They can continue to be over-charged by paying for GUARANTEED ISSUE Obamacare plans or switch to low-cost medically under-written Individual Medical (IM) insurance and save their hard earned money. Blue Cross Association wrote Obamacare to protect their cash cow, employer-based health insurance, by making Individual Medical (IM) insurance very expensive so they would not have competition. Blue Cross made a mistake in their 2000+ page Obamacare legislation by forgetting about an Individual Medical product called Short Term Medical (STM). Low-cost STM lasts for up to a year and is the perfect tool for the self-employed to go from one Obamacare Open Enrollment to the next.
When the Democrats realized that healthy people would get low-cost STM that would leave only the sick for Obamacare plans, it was too late. Low-cost STM is still the law of the land. So the last thing President Obama did was an UNCONSTITUTIONAL Executive Order that outlawed STM to last no longer than 3 months or 1 quarter. If Senator Joni Ernst was sincere that she would make them squeal in DC she should demand HHS Secretary Dr. Tom Price to sign an order to rescind the UNCONSTITUTIONAL ban on STM.
Here is the math. A 60-year-old couple in Ames, Iowa, my home town, earning $65,000 a year will get no Obamacare income-based tax credits. Their premium for Medica Bronze PPO with a $6,850 per person deductible is $1,766 per month or $5,298 per quarter. Annually the premium is $21,192 and the deductible is too large for a tax-free Health Savings Account (HSA). In contrast, on 10/01/2017 this couple can switch to low-cost STM from America’s largest health insurance company, United Health Care (UHC), with a smaller $5,000 deductible then 100% coverage for $767 per quarter. The premium savings is $4,531 for the quarter. Wait, it gets better. This deductible is just right to open a tax-free HSA. If this couple deposits $7,750 into their tax-free HSA they save 15% Federal Income tax and 7.92% Iowa Income tax or an additional $1,776 in tax savings. The tax savings alone with the tax-free HSA is $1,010 larger than the STM insurance premium. I call that “affordable health insurance.” I have been saying that since October 1996 when I enrolled the USA’s 1st HSA when they were called tax-free MSAs. The total tax savings and insurance premium savings is $7,074 for just 3 months of low-cost STM insurance.
To be Self-Employed you must be economical. For Webster’s, economical means careful, efficient use of resources. If Senator Joni Ernst could get the UNCONSTITUTIONAL ban on low-cost Short Term Medical lifted by 9/1/2017 the hard working, taxpaying and voting Iowa Self-Employed couples would have the opportunity to save an additional $1,510. Hey, every $1,510 is important if you are trying to make a living and make ends meet. With that thought in mind, 8/1/2017 would be better.
I don’t want to put words in Senator Ernst mouth but I would suggest that when talking about tax-free HSAs she say, IRAs and 401Ks are old taxed accounts. HSAs enjoy, tax free deposits, growth AND withdrawals – AMEN! Total tax FREEDOM. The best tax cut is NO TAXES. Money that is never taxed will last longer in retirement. Any DC politician that wants to start taxing the tax-free HSA has to come through me. Also, FOX News Chris Wallace has changed the insurance term GUARANTEED ISSUE to PRE-EXISTING PROTECTION. There is no such thing as PRE-EXISTING PROTECTION Life Insurance. There is GUARANTEED ISSUE Life Insurance and it costs 4 times more. There is no such thing as PRE-EXISTING PROTECTION health insurance. There is GUARANTEED ISSUE health insurance and it costs 4 times more too, exactly like Obamacare.