…thanks to Obamacare.
One of the many pieces of Obamacare that we can now see since it has been passed, is the requirement that insurance policies increase the limits of their annual coverage. This has a major impact on the cost of insurance, particularly for college students.
The State University of New York at Plattsburgh said its 2011-2012 premium was $440 for a plan that covered up to $10,000 for each injury or sickness. Officials said the premium for the coming year would be $1,300 to $1,600 for a plan that meets the new requirements.
A student at Bethany College in Lindsborg, Kansas will see their premiums increase from $445 to more than $2000 per school year.
So, here is what is happening this September.
Lenoir-Rhyne University of Hickory, N.C., the University of Puget Sound in Tacoma, Wash., and Cornell College in Mount Vernon, Iowa—all private liberal-arts colleges—have told students they are dropping school-sponsored limited-benefit insurance plans starting in the fall. The three colleges said students’ premiums would have gone up roughly tenfold, and they said they could no longer justify making students sign up if they didn’t have their own insurance.
Yes, these are”‘limited-benefit” policies, but, at least they are insurance policies. And, isn’t some insurance coverage better than none at all?
The insurance exchanges, once implemented, will not help these students, as no policy sold on an exchange can exclude all of the Obamacare “whistles and bells”.
But, I know you all will be happy to learn that:
[s]ome unions and employers can still offer plans to lower-wage hourly workers that have limited benefits similar to those of the student plans, because they were given waivers by the administration allowing them to continue those plans until 2014. Schools can’t apply for the same waivers for student plans. [emphasis supplied]
Why is it that under this administration, unions seem to get all the perks?