Buzz
Yesterday, House Republicans unveiled their alternative to the Affordable Care Act. Today, Representative Jason Chaffetz mentioned that people could afford the higher premiums by choosing to “invest in their own health care” instead of splurging on the latest iPhone.
If the bill passes, many individuals would see fewer generous subsidies to help with insurance costs. On the bright side, we’d be allowed to save more of our own money in a Health Savings Account. While that’s beneficial, it still doesn’t replace insurance. Here’s how Chaffetz suggests we raise the funds to invest in it:
Americans have choices, and it’s up to them to decide. Instead of buying that new iPhone that they’re eager to have, maybe they should consider putting that money toward their health care.
Forget the fact that smartphones are particularly important for low-income individuals as a means of finding jobs and handling other critical tasks. Let’s imagine we’re all buying so many new iPhones that skipping a few would help us afford our health care. Here’s how many you’d need to pass on:
Employer-provided health insurance costs the equivalent of 25 iPhones for an average family, with the employer covering most of this expense. The family’s contribution is typically around seven iPhones.
High-deductible plans are common, with the average employee deductible being equivalent to two iPhones. If your employer is smaller, you may end up paying more iPhones than this.
If you purchase insurance through the Marketplace (often referred to as an “Obamacare plan”), your out-of-pocket expenses will likely be lower. For example, a 40-year-old non-smoker earning $30,000 annually could pay between three to twelve iPhones annually for premiums, depending on their location.
But what if you choose not to purchase insurance? That decision would save you several iPhones, and with the new legislation eliminating the tax penalty for being uninsured, you can make a deliberate choice. As Chaffetz mentioned, you might decide not to follow through on the iPhone comments and opt for another course of action.
If you injure your knee in New York City and need ACL surgery (as I did a few years back), Health Care Blue Book suggests that a ‘fair’ cost for this procedure would be 24 iPhones.
If you decide to have a baby—or if, due to the bill’s defunding of Planned Parenthood, you do not have that option—childbirth would cost you an average of 12 iPhones. This amount varies by region, with some hospitals in San Francisco charging as much as 38 iPhones. This price doesn’t include prenatal care, anesthesia, c-sections, or any complications that could arise for you or the baby.
If, on the other hand, you develop cancer, chemotherapy will come with a hefty price tag, ranging from 113 to 218 iPhones for a typical breast cancer treatment regimen. This doesn’t include other treatments or procedures that might be required. In simpler terms, it would cost you a stack of iPhones anywhere from two-and-a-half to five feet tall.
Since Chaffetz referred to the ‘latest’ iPhone, I used an estimate of $749 for a 128GB iPhone 7. If your preferred phone is more affordable, you might need to sacrifice even more of them to pay for health care.
