Stupid Government Tricks [UPDATED & BUMPED]

[Please scroll down for update]From the Now-They're-Just-Making-(Stuff)-Up Department:So yesterday, with 4 days to go until "The Deadline" (until they change it again, natch), the folks in Capital City have declared that those sub-par plans are okay, after all, at least when they're bought through the Exchange:"The Obama administration said Thursday it would allow some of the millions of Americans whose insurance policies had been canceled to purchase bare-bones plans next year"Now, in and of itself, a truly catastrophic plan isn't a bad idea. In fact, it's what a health insurance policy should be: coverage for large, unexpected claims, not every sniffle or paper cut (or birth control pills convenience items). While the mandate is evil, it would at least have been more palatable if it required folks to have at least this level of coverage. And if it were deemed Health Savings Account (HSA) compatible well, then, Bob's your uncle.Alas, that's not to be.But there are a few problems with how this is being handled, not the least of which is that it is blatantly, spectacularly illegal.Here's the relevant section from the ObamaTax itself (emphasis added): (e) CATASTROPHIC PLAN.—(1) IN GENERAL.—A health plan not providing a bronze, silver, gold, or platinum level of coverage shall be treated as meeting the requirements of subsection (d) with respect to any plan year if—(i) except as provided in clause (ii), the essential health benefits determined under subsection (b), ex...
Source: InsureBlog - Category: Medical Lawyers and Insurers Source Type: blogs