HSA Expert Ron Greiner Corrects Omaha World-Herald’s Obamacare Propaganda and Misinformation
Ron Greiner enrolled America’s 1st Health Savings Account (HSA) in 1996 when they were called Medical Savings Accounts (MSA) in Nebraska. The 1st enrolled consumer was a 24-year-old single male with a $2,250 deductible and the premium was $24 a month with TIME Insurance Company, America’s oldest health insurance company. Greiner says, “For years I begged Steve Jordan of the Omaha World-Herald to write an article about America’s best tax dodge, the HSA, but Steve Jordan refused. Jordan’s 12/3/2017 story about Obamacare’s 2018 premiums is so poorly written I must correct it.” Greiner points out that the example listed, a 61-year-old couple, has a monthly premium of $2,299.15 that Jordan incorrectly calculates to be $27,589.80 annually. Greiner points out, “Jordan needs a new calculator.”
Jordan writes, “The Christensens declined to disclose their income but said it was higher than the $61,000 maximum for a couple to qualify for subsidies.” Greiner says, “That’s wrong. This couple qualifies for subsidies up to $64,960. If this couple earned $64,000 their Obamacare subsidy would be $2,798 monthly or $33,576 annually, much larger than the cost of their HSA Qualifying Bronze Plan that they have chosen. If this couple earned $71,900 in 2018 and maximized their HSA by depositing $7,900 their Modified Adjusted Gross Income (MAGI) would diminish to $64,000 and they still qualify for $33,576 in subsidies which would pay 100% of their premiums. This couple needs a better insurance agent with real advice.”
Jordan says the couple’s insurance agent is Lon Olsen who is quoted as saying, “Most other options, he said, aren’t ACA-compliant insurance, meaning the plans may have no legal obligation to pay claims…You’re not protected by state or federal insurance laws, that’s my concern,” Greiner says, “That is not true. Short-Term-Medical (STM) insurance is totally governed by State law and is the perfect low-cost option to take consumers from one Obamacare Open Enrollment to the next so the consumer is safe.”
Greiner reports, “In Blair, Nebraska I find the lowest cost HSA Qualifying insurance to be $2,339 a month not $2,299.15 as stated in the story. The deductible is $6,000 and $6,650 out-of-pocket per person is required before 100% coverage. Low-cost STM, which is governed by State law, is available for $1079.76 a month with a smaller $5,000 deductible then 100% coverage (zip code 68008). This couple should switch to low-cost STM and save enough money to purchase 2 new Cadillacs.”
Greiner believes Jordan, like all reporters, is misleading his readers about the penalty for not having ACA compliant coverage. Greiner points out, “You are exempt from the penalty if the lowest cost Bronze plan is more than 8.05 percent of an individual’s household income. If the lowest cost bronze plan is $2,299 a month this couple would not owe a penalty if they earned less than $325,000 in 2018.”
The Omaha World-Herald is selling health insurance to their own employees that the employees lose if they get too sick to work. Greiner says, “Before Obamacare if Jordan got cancer and too sick to work the World-Harald would have sent him a COBRA notice to continue coverage if he paid the premium. Jordan would have paid because he has cancer and then the World-Harald’s insurance company would have to pay hundreds of thousands in cancer treatments. With Obamacare sick employees get their COBRA notice but also get an Special Enrollment Period (SEP) which makes the taxpayers pay to switch them off their employer’s plan and onto the Individual Market which makes premiums for self-employed people shoot to the moon.”
Steve Jordan’s Twitter handle is buffettOWH which makes Greiner say, “Of course Warren Buffett loves Obamacare and openly supports it to switch his sickest employees off of his liability and onto the self-employed people in the Individual Market.“
Greiner’s advice is, “This couple should move back to Florida because in Tampa Bay their coverage for low-cost STM nose-dives to $561.05 a month from their overpriced $2,299 a month in the frigid cold of Nebraska and there is no State income tax in the Sunshine State. Then they save enough to purchase 2 new Cadillacs and a new boat.”
About Steve Jordan:
Position: Business reporter
What I do: I cover banking, insurance, the economy and other topics, including Berkshire Hathaway, Mutual of Omaha and other businesses.
About me: I joined The World-Herald as an intern in 1967 and have covered a range of stories since then, focusing mostly on business for the past 30 years. I’m a native of West Virginia, came to Omaha as an Air Force dependent and graduated from the University of Nebraska.
About Ron Greiner:
Ron was the State Manager for Iowa and Nebraska for the National Association for the Self Employed (NASE) with offices in Omaha, Nebraska. Ron ran the largest agency for TIME Insurance Company, America’s oldest health insurance company who boasted having 250,000 appointed agents. Again Greiner’s offices were in Omaha, Nebraska. Ron enrolled the USA’s 1st tax-free HSA in 1996. Ron is licensed to sell insurance in 27 States.