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Today I got new health insurance…

Today, after a series of chaotic calls to my health insurance provider and a perusal of Healthcare.gov options, I finally got new health insurance.

I was notified in mid-January that I would be dropped because of a “business decision by Humana to eliminate plans like [mine].” After 7 static years, I was told that even though I liked my plan, I could not keep it.

Not looking forward to the process of obtaining new insurance, I did sign up for the Healthcare.gov to see what plans were available for me. What I found was that I could get the exact same coverage for a doubled monthly premium and a deductible twice what I currently had. Joy!

So, in all my procrastination and consideration for different companies, I called Humana Monday morning with just 18 hours until my coverage was to lapse.

After a ‘brief’ hold time of just 11 minutes, I was connected a man named Hernando. My recently acquired friend Hernando had such a thick accent that I found myself squinting every time he spoke, but considering the timeliness of my call, I knew I would need to give Hernando the benefit of the doubt. He seemed to have a good attitude and called me “Miss Jessica.” Still, despite being 8:15 a.m., I felt like I needed to pour myself a glass of sangria.

Hernando asked me to confirm my Social Security number as well as my most recent address on file. I offered him my current address, the one I held in 2015, the addresses of my the homes I lived in in 2014, 2013, 2012, 2011 and 2010. None of them matched. Why? Because despite my requests, which Hernando confirmed were noted in my file, Humana had not updated my address since 2009. After 8 guesses and an offer to mail a blood sample to confirm my identity, we unlocked the treasure chest of plans for which I qualify.

Or so I thought. Turns out Hernando wasn’t all that good with the system, so he had to place me on hold to ask a colleague. I’m not exaggerating when I say that a rendition of the song below, the circus tune, is what played when I was on hold. How fitting.

 

Hernando returned after another ‘brief’ hold to let me know that there were 5 plans for which I was eligible, and we discussed them at length.

If I wanted the same coverage as before with the same deductible – which was already $3,500-, I could pay a premium three times as high as my last one. If I wanted to keep my premium the same, I could raise my deductible to $6,850. Not to delve too far into the personal side of things, but I’m not exactly at a point in my life where I can fork out thousands a month for health care coverage.

Hernando, despite working for Humana, wanted to emphasize that I could go on the exchange, still have Human coverage, but instead pay a subsidized amount and receive credits.

I would rather die

I asked him if, under the plan I was considering, women’s annual visits were covered. Hernando replied, “Like, you mean a check up?” No, an actual annual visit to a doctor only women see. “Oh Miss Jessica!! I do not know. You can see a primary care doctor for $25 co-pay three times under this plan.”

“Hernando, I’m sitting here drinking a protein shake that tastes like grass. I do everything I can to avoid the doctor. I don’t like doctors and I don’t like medicine. I just want to visit my doctor once a year to make sure that when the time is right, I can procreate. I don’t really want to explain to you what that entails, but it’s not a primary care check-up. That is the only reason I’m getting health insurance.”

“Okay, Miss Jessica. If I may, place you on a brief hold again.” Hernando had to call his supervisors in another office because he didn’t want to give me the wrong information. Apparently, the information on the health prompter

[insert circus music]

At this point, I began to think that perhaps I could go a year without healthcare coverage and see how things work out. After all, barring anything catastrophic, I’m out almost $7,000 anyway. I frequently get kidney stones, but it doesn’t cost near that to be hooked up to morphine for a bit when they hit.

It’s amazing how quick your thoughts seem to come and go when circus music is playing in the background, too. I think I could almost feel my eyes dilating.

After seven minutes of the holding again, Hernando returned to let me know that, yes, it was considered preventative care and I was indeed covered for the services I need. We agreed to start the application but I would need to be placed on a brief hold while he completed the paperwork.

He asked a few questions about my lifestyle choices, and said, “Miss Jessica, one more thing before I place you on a brief hold: is that Jessica with one ‘S’ or a double ‘S’ like “sst sst”

…What? Two. J-E-S-S-I-C-A. (Keep in mind, he is looking at a file that has 7 years of information on me.)

[Cue circus music]

After 11 more minutes of high-wire walks and elephant tricks, Hernando returned to confirm my  data and take payment information. My coverage is effective tomorrow, but barring some heavy-duty tax refund come April 15, I can’t reasonable afford to meet my deductible.

At the end of the day, I walked away with mediocre coverage and a $6,850 deductible “just in case” something happens. I also had to explain intricate health care services to  a non-native man with clearly no knowledge of the industry. The system is so very broken and the insurance companies are hiring people like Hernando, who may have nice customer services skills, but knows nothing about what they’re doing – just to stay afloat. At the end of the year, we’ll see if this was the right decision.

But, I don’t know what I fear more: the IRS and our government heavily entrenched in our healthcare or actually having to utilize my healthcare coverage.

No, Employers shouldn’t get tax breaks for paying student loan debt

I’ve seen a few articles circulating the social media networks lately following the bill introduced by Congressman Rodney Davis which would grant employers a tax break, up to a certain amount, for loan assistance they offer their employees. AllOnGeorgia.com recently ran an Associated Press article on the issue as well.

Essentially, The Employer Participation in Student Loan Assistance Act proposes making a maximum of $5,250 a year in employer payments for student loan debts tax-free for the worker, and eligible for tax breaks for the employer.

I don’t know where to begin. We’ve over-incentivized student loans for so long causing what we now know to be the “student loan bubble” that is, in fact, on the verge of collapse, and the first step of a solution is to make sure the student gets an “untaxed gift” because someone else pays for something that is considered a burdensome debt?

We, as a nation, created this monster when we opened the flood gates of student loans to everyone – regardless of major, institution, amount, or ability to repay. Then we expanded the payment plans to be income-based, staggered, deferred, anything at all to make it “easier.” We allow interest on student loans to be tax-deductible much like a mortgage. But let’s face it: It isn’t working. The average amount of student loan debt of the 2014 graduating class was nearly $30,000 and almost 14% of those in repayment are in default.

I’ve been open and honest about my student loan debt. It’s suffocating and probably a mistake. Some days I wish I hadn’t gone to grad school, because the percentage of my work that entails what I learned is minimal, but I did and I recognize my own personal responsibility about it. I have to pay it back no matter what the cost and no matter long it takes. No one made me pull out a loan for school.

You wouldn’t ask your employer to include a loan reimbursement for your mortgage, or your car, or your credit card debt, or starting your side small business as part of your benefits package (the latest could be managed by Leadgenius for short term loans). What is the difference here? The student loan operation is already so far from the reality of life. You don’t pay your mortgage back based on income. You can’t refinance your house at a lower amount because you lose your job or take a pay cut.

This is the federal government we’re talking about here. If you offer a tax deduction for it, you’re encouraging a subsidy.

By continuing to manipulate the market and incentivize different behavior, we’re only pushing the already overloaded bubble one step closer to explosion. The correct answer is not to talk about the deductions taxpayers get for “something else,” because any tax deduction is a step away from lassiez faire economics. What we don’t pay now, we’ll be paying for later.

When this $1.2 trillion bubble bursts, it will be worse than the mortgage crisis. Except this time, it won’t be the big banks the fail. It will be federal government. And let’s not trick ourselves into thinking it’s a conservative foundation to use the government to incentivize someone to do anything.

I’ve said it before – if you’re unwilling to payback an investment you made into yourself, you’ll never be willing to pay back anything