Credit scores impacting new Affordable Care Act insurance plans

Credit scores impacting new Affordable Care Act insurance plans

Well we *KNEW* this was coming sooner or later.

Now it seems some people are being asked to verify their credit scores when getting to the end of buying insurance on the websites !!!!

I thought bad credit is a *pre existing* condition ?

ORLANDO, Fla. -

Many people signing up for health care in Florida through the Affordable Care Act have been shocked when they have to give proof of their credit score before they finish the process.

Anne Packham, one of many people licensed by the state to help people navigate the government's website, said on Tuesday that the credit check occurs so providers can make an educated decision about who to insure.

"If someone is defaulting on all of their bills they may not want to have them as part of their health plan," said Packham, the lead Navigator in Florida.

Huh ?

Where's the *equality* ?

Where's the *non discriminatory* part ?

Participants with low credit scores could end up paying higher premiums, according to Packham, who said that ultimately the insurance company makes the call.

WHAT !!!!

Credit scores impacting new Affordable Care Act insurance plans

Are You Kidding Me ?

reply to post by xuenchen


Well if any of that is true it's really messed up! So the people least able to afford insurance- the working poor- are going to end up paying the most because they don't make enough to have good credit? What the heck? Make the rich richer and the poor poorer, divide the classes even further, then what? I'm not even sure I want to know anymore.

reply to post by xuenchen


I've been thinking about this for a while, the Affordable Care Act might not end up being affordable, and the fact that it is required could put a lot of people over the edge financially. I bet it affects the "middle-class" (does that exist?) but I bet it also affects the poor as well.

reply to post by xuenchen


Do you know whether that's just a Florida thing or is it more widespread. I would assume it is more widespread, as insurance companies can't want to lose money.

So what if you are forced to get insurance, but you do not "qualify?"

Magic still doesn't exist, and it seems worse and worse the more I think about it.

Makes one have fantasies of losing their identity.

reply to post by xuenchen


Just like car insurance... shouldn't matter what your credit score is. You pay the premium, you should have insurance. You don't pay it, you have no insurance. THAT SIMPLE.

You should not have higher/lower premiums for a credt score! You either pay or don't pay.

I am glad to see some right leaning folks complaining about the abuse of credit scores for a change. The consumer advocate groups have been complaining about the insurance industry use of credit scores for years. The abuse existed before Obamacare. Sadly, it's something that congress has ignored for years.

darkbake
reply to post by xuenchen

 

I've been thinking about this for a while, the Affordable Care Act might not end up being affordable, and the fact that it is required could put a lot of people over the edge financially. I bet it affects the "middle-class" (does that exist?) but I bet it also affects the poor as well.

Not *JUST* the middle class and poor.

EVERYBODY.

I know plenty of people in the upper middle class and even high income levels with horrible credit.
___________

And does anybody remember this ever being talked about in the PPACA ?

Hmmm.

We are in a turning point in U.S. History I think !!!

reply to post by xuenchen


The only good thing to come from the passage of Obamacare is that now, everyone can actually see how bloody awful it is!

lolz

Dustytoad
reply to post by xuenchen

 

Do you know whether that's just a Florida thing or is it more widespread. I would assume it is more widespread, as insurance companies can't want to lose money.

So what if you are forced to get insurance, but you do not "qualify?"

Magic still doesn't exist, and it seems worse and worse the more I think about it.

Makes one have fantasies of losing their identity.

It must be widespread.

Many of the same insurance companies are multi state.

Maybe there are some State laws, but I doubt it.

reply to post by xuenchen

You know, a few years ago I ran across a video which I haven't been able to find since. In, a guy goes to order a pizza by phone. He tries to order a meat lovers or something, and the operator tells him that will cost him an additional $20. When he asks why, she tells him that it is increasing his risk of heart attack, and after checking his purchases at the store they see he has already bought bacon twice this month, and when she says that, she informs him it will now also add an additional $10 to his monthly insurance bill. She tells him that if he orders a veggie pizza, they can avoid the $20 extra charge and the additional insurance bill. He complains, and she calls up his gym workout history, and proceeds to lecture him on how he's not eating healthy and not exercising properly. When he decides to order the pizza anyway and have it delivered, she informs him that there will be a $50 surcharge because he lives in a red zone, which is a "dangerous part of town". He complains that he doesn't live in a red zone, he lives in a yellow zone, and she points out there were 2 muggings in that area last night, and so it's now been declared a red zone. Finally he gives up and orders the veggie pizza for pickup.

This total information sharing between the corporations and the governments is only going to lead to more and greater penalties for an increasing number of everyday activities until no one can do anything without them finding a tax or penalty to hit you with.

Welcome to the 21st century. Isn't technology great?

Not surprising. Glad I am not poor.

reply to post by Kaploink

I've been complaining for years about credit scores, especially employers using them to check on potential hires. Credit score companies are not legally bound in any way to be accurate, and getting them to correct information is nearly impossible. And even if you fix one, there are 3 big credit score agencies you have to deal with.

Add to the mix we are now assembling a PERFECT host for identity theft hackers, and most people know how difficult THAT is to fix and will ruin your credit rating, this particular aspect of Obamacare seems to be creating a situation ripe for abuse in many ways.

reply to post by xuenchen

It is illegal for social security numbers to be used for identification purposes.

Officially, the only parties that can ask for it are your employer, the social security administration and ...[drumroll]... the IRS. And that is the kicker, I think that is a major reason for bringing them into this.

reply to post by QuantumCypher


I hope someone else knows what you are talking about because I wanted to play it for my girlfriend but couldn't find it. Can't remember where i heard it either... I was thinking about it all day yesterday because it clearly illustrates the problems we may all soon be facing. New York seems to be the head of the class with their smoking laws and the coke sizes...

Freedom to chose IS freedom. Once your body is worth more to the State than it is to you we have a huge problem..

Do the math people. DO THE MATH.

Average income in the US is 50k. Let's just say that each person earning that keeps it all.

I've seen someone post here that their average healthcare bill increased and would be about 400 a month with a 10k deductible.

So, for an average year the insurance company will get to keep, keep, 4800 dollars of his money as he is very unlikely to spend 10k.

So. Do the math. DO THE MATH, Ten Percent of his gross income goes to the insurance company, allowing them to gamble, pay off debts and avoid paying claims in order to make a profit. Insurance is a for profit business, make big profits, corporate jets, year end bonuses, pay the shareholders kind of company.

Do the math DO THE MATH! A healthy person who does not see the doctor at over a ten year period all will GIVE the insurance company 48K dollars!!!! That same person could have spend 39999 dollars out of their own pocket if the used the doctor. So, to recap, in case you don't get the math.

A moderately unhealthy person can give the insurance company, and the related medical establishment, Nearly 90 THOUSAND DOLLARS! That is FREE, FREE medical care? What is paid medical care?

Now that all care is paid for by insurance. Costs will go up, they must, they have to, as what person in their right mind would not raise rates under these conditions.

Now, you have to have good, or great credit to get the wonder care I just laid out? This is total insanity, complete insanity. There is only one rational type of person who sees this as a good thing, the person salivating at the prospect of the population being ordered a gun point to buy is for profit service. Anyone else looking at this thinking they going to benefit are beyond stupid.


And this all happened because the entire population can't do basic math. They see Free and they think, Free.

reply to post by greencmp

To be honest, the IRS handling this is one of the biggest factors in why I think the whole setup needs to be changed. It's a very "guilty until proven innocent" situation when dealing with them, and linking taxes and healthcare seems to be a critical mistake if they truly with to supply decent health care.

This whole credit rating being used for the purposes of determining whether or not you are eligible proves that that is not the desired goal. And that's without even going into the whole IRS political targeting scandal.

littled16
reply to post by xuenchen

 

Well if any of that is true it's really messed up! So the people least able to afford insurance- the working poor- are going to end up paying the most because they don't make enough to have good credit? What the heck? Make the rich richer and the poor poorer, divide the classes even further, then what? I'm not even sure I want to know anymore.

The story has a happy ending you know:
One of the destitute is a very adorable blonde-headed child with irresistible big blue eyes. One of the bank exec's wives falls in love with the cute ragamuffin and officially adopts him while his parents ride teary-eyed away in a special train off in to the sunset.

Good God, those who are the poorest will have the worst credit scores.
Death by a thousand papercuts in the land of the fleeced and home of the slave.

reply to post by darkbake



Yep. Its good old double speak. "Affordable" mean bring your own lube.

Oh but just for a second there.....just for a second we thought just maybe.

I just wonder if any of Obama's aides has taken him aside yet and explained that if the people get truly mad enough they will overthrow the government and that would effectively end Obamacare among a few other things?

reply to post by Logarock


More like bite the pillow, nobody can afford lube now.

Who exactly is this nonsense helping?