Ben D’Avanzo’s tweet caught my attention.
“Would you buy a toaster that Consumers Reports gave an F? Not me,” tweeted D’Avanzo, a senior policy analyst at the Asian & Pacific Islander American Health Forum. “We should be pretty worried about their grade of the ACA repeal plan.”
The American Health Care Act (AHCA) is the GOP’s effort to replace the Affordable Care Act (ACA), known as Obamacare.
Even if you have health insurance through your employer, don’t think the debate over the repeal of the ACA doesn’t affect you. You are probably a job loss away from not having affordable health insurance. So you should be reading everything you can on this issue – from all political viewpoints.
The latest group to oppose the GOP plan is Consumers Union, which scored the proposed plan.
“In the AHCA many millions of Americans, from children to seniors, will be left uninsured or with insurance that falls short of their needs,” the report card from Consumers Union says. “The bill provides less coverage at a higher cost for consumers than the ACA.”
Here’s how Consumers Union graded the AHCA:
— The replacement ensures broad enrollment in coverage. Grade: F
— Coverage must provide meaningful access to healthcare. Grade: F
— Coverage and healthcare marketplaces must be easy to navigate. Grade: F
— Reforms must address underlying reasons for high costs. Grade: F
— National standard that sets basic consumer protections. Grade: F
Here’s some additional reading on the economic impact of health care reform.
— No Magic in How G.O.P. Plan Lowers Premiums: It Pushes Out Older People
Color of Money question of the week
What do you think the new GOP healthcare plan will cost you? Send your comments to email@example.com. In the subject line put “GOP Health Care Plan.” Please include your name, city and state.
Share your health care story
Are you currently receiving health care insurance through Obamacare? What’s your experience? Send your comments to firstname.lastname@example.org.
Live chat today
Join me for a live discussion at noon (ET). What’s on your money about your money? To participate in the discussion click this link.
Color of Money columns this week
Knowledge isn’t power. The right knowledge is power.
Stay informed about your money. Read and share my columns for this week.
— How to tell if your tax preparer is a crook
Is the stock market too high?
Last week for the Color of Money question I asked: Are you concerned that the market is too high?
Diane LaBarge of De Kalb Junction, N.Y., had one question: “My concern about getting out of the market now, is how will a person decide when to get back in?”
Thomas Druitt of Paducah, Ky., a frequent commenter writes, “If you believe you are being asked to pay a price that you consider to be ‘too high’ then you do not make the purchase. You keep your cash in your pocket and wait for the price to come down before plunking down your hard-earned cash. This is in fact the rational, logical thing to do. Just ask Mr. [Warren] Buffet.”
“We all manage to survive every day despite listening to less accurate analysis by experts every day and trying to act on their advice,” wrote Scott Fossum of Houston. “The weatherman gets tomorrow wrong more often than correct. Many times I have cancelled stuff or wore rain jackets due to a rain forecast only to have beautiful sunny skies. I still live a happy life despite occasionally being mad at myself for following the weatherman’s bad advice. The weatherman is one of the few professions less accurate than the stock market market analysts and both get paid lots to do their job. Imagine that.”
Have a question about your finances? Michelle Singletary has a weekly live chat every Thursday at noon where she discusses financial dilemmas with readers. You can also write to Michelle directly by sending an email to email@example.com. Personal responses may not be possible, and comments or questions may be used in a future column, with the writer’s name, unless otherwise requested. To read more Color of Money columns, go here.