Get Ready for Obamacare Premium Defaults

Posted in the Columbus Forum

Since: Jun 13

Hilliard, OH

#1 Oct 3, 2013
Last week, the Society of Actuaries warned about sticker shock ahead for individuals and families buying health insurance.

How did the White House respond? In its usual Orwellian fashion, saying “healthcare costs are falling thanks to the reform law.” Falling is correct only if you’re standing on your head.

President Obama repeatedly promised that insurance exchanges will save families up to $2,300 a year. He couldn’t possibly have believed it. From day one, it was obvious the law would push up premiums. That’s because it requires insurers to cover services rarely covered in the past, puts sick people in the same risk pool with the healthy, and slaps insurers with $100 billion in taxes to pass along to consumers.

Who will be clobbered by high premiums? Everyone buying insurance on the exchanges: people who customarily buy their own insurance (about 25 million) plus people currently uninsured who will have to get it beginning in 2014, and finally millions of people whose employers will drop coverage in response to the law’s costly requirements. Milliman predicts, 67 million people in all by 2017.

These people will have no choice but to buy the one-size-fits-all “essential benefits package” that includes treatment for drug addiction, maternity care, and dental and vision care for children. Only 2% of plans currently include all these services. When the law compels insurers to cover more, it compels consumers to pay more. It’s like passing a law that your auto insurance has to cover wiper blades and oil changes, or that the only car you’re allowed to buy is a fully loaded Cadillac. Secretary of Health and Human Services Kathleen Sebelius says “folks will be moving into a fully insured product for the first time.”

An unaffordable product. The Ohio Department of Insurance says the requirements will push up premiums 20% to 30%. It cheats the couple not having more children and the straight-arrow who will never shoot heroin.

The healthy also get whacked. Until now, most states helped people with pre-existing conditions by setting up separate, subsidized risk pools. Someone in the sickest 5% of the population will use 17 times as much care as a healthy person, according to the Agency for Healthcare Research and Quality. The Obama health law pools everyone together and requires the healthy to pay as much as the sick. The few states (including New York) that already do this have the highest premiums in the country. Imagine if you and your friends split the tab for coffee every day, and then someone joins the group who orders a five course meal. Oliver Wyman, management consultants, reported that putting people with pre-existing conditions in the risk pool will push up premiums 40%. Similarly, the Society of Actuaries predicts medical claims going up 32% on average, and by as much as 62% in California and 80% in Ohio by 2017.

$100 billion in new federal sales taxes on health plans over the next decade will clobber consumers too. In New York, where premiums will be highest, the taxes will add $900 a year to the cost of a family plan, Oliver Wyman estimates.

Since: Jun 13

Hilliard, OH

#2 Oct 3, 2013
The White House dismisses concerns about rising premiums, saying consumers with moderate incomes will get subsidies. That’s like arguing that it’s okay for food prices to double, because the needy can get food stamps. Taxpayers foot the bill for subsidies. And consumers ineligible for them get socked with sky high costs.

Even with subsidies, millions of people coerced to sign up will stop paying premiums. A family with two adults, two kids and a household income of $35,300 will be eligible for a $11,090 subsidy paid directly to the insurer, but they will have to pay at least $118 a month toward the premium. Families living paycheck to paycheck will default in order to make rent or car payments. This is the mortgage crisis and the college loan crisis all over again. Another gift from the politicians who think “Washington knows best.”

http://spectator.org/archives/2013/04/04/get-...
Enzyte Bob

Reynoldsburg, OH

#3 Oct 3, 2013
... and Republicans aren't going to help them fix any of this, either.

This is actually one of my mantras: Keep it Simple Stupid.

Republicans have a simple message and it works as both a message and as political policy.

People understand it is their policy and it is set in stone, not unlike Republicans being pro-life.

If they were to help Democrats fix this law, that's when they get buried in minutae and where it becomes another government beast that takes on a life of it's own.

Good long run strategy: Don't help them fix it and without fixes it implodes.

“Zuzu's Petals”

Since: Sep 10

Bedford Falls

#5 Oct 3, 2013
Let the cards fall where they may. Frankly, I think it is funny, the people without insurance are not going to sign up for this junk. The fools that voted for him, deserve to lose spousal coverage and huge increases. I actually cannot wait for this one!

“Zuzu's Petals”

Since: Sep 10

Bedford Falls

#6 Oct 3, 2013
Diamond Eugene wrote:
Last week, the Society of Actuaries warned about sticker shock ahead for individuals and families buying health insurance.
How did the White House respond? In its usual Orwellian fashion, saying “healthcare costs are falling thanks to the reform law.” Falling is correct only if you’re standing on your head.
President Obama repeatedly promised that insurance exchanges will save families up to $2,300 a year. He couldn’t possibly have believed it. From day one, it was obvious the law would push up premiums. That’s because it requires insurers to cover services rarely covered in the past, puts sick people in the same risk pool with the healthy, and slaps insurers with $100 billion in taxes to pass along to consumers.
Who will be clobbered by high premiums? Everyone buying insurance on the exchanges: people who customarily buy their own insurance (about 25 million) plus people currently uninsured who will have to get it beginning in 2014, and finally millions of people whose employers will drop coverage in response to the law’s costly requirements. Milliman predicts, 67 million people in all by 2017.
These people will have no choice but to buy the one-size-fits-all “essential benefits package” that includes treatment for drug addiction, maternity care, and dental and vision care for children. Only 2% of plans currently include all these services. When the law compels insurers to cover more, it compels consumers to pay more. It’s like passing a law that your auto insurance has to cover wiper blades and oil changes, or that the only car you’re allowed to buy is a fully loaded Cadillac. Secretary of Health and Human Services Kathleen Sebelius says “folks will be moving into a fully insured product for the first time.”
An unaffordable product. The Ohio Department of Insurance says the requirements will push up premiums 20% to 30%. It cheats the couple not having more children and the straight-arrow who will never shoot heroin.
The healthy also get whacked. Until now, most states helped people with pre-existing conditions by setting up separate, subsidized risk pools. Someone in the sickest 5% of the population will use 17 times as much care as a healthy person, according to the Agency for Healthcare Research and Quality. The Obama health law pools everyone together and requires the healthy to pay as much as the sick. The few states (including New York) that already do this have the highest premiums in the country. Imagine if you and your friends split the tab for coffee every day, and then someone joins the group who orders a five course meal. Oliver Wyman, management consultants, reported that putting people with pre-existing conditions in the risk pool will push up premiums 40%. Similarly, the Society of Actuaries predicts medical claims going up 32% on average, and by as much as 62% in California and 80% in Ohio by 2017.
$100 billion in new federal sales taxes on health plans over the next decade will clobber consumers too. In New York, where premiums will be highest, the taxes will add $900 a year to the cost of a family plan, Oliver Wyman estimates.
The working guy has always paid for those without insurance, now he is just going to pay more. Frankly, I don't care! I hope the prices skyrocket and they all end up on Universal Health Care with terribly long waits to see a doctor and obtain tests. You get what you vote for low information voters, don't you?
Enzyte Bob

Reynoldsburg, OH

#7 Oct 3, 2013
Zoe Regen wrote:
Let the cards fall where they may. Frankly, I think it is funny, the people without insurance are not going to sign up for this junk. The fools that voted for him, deserve to lose spousal coverage and huge increases. I actually cannot wait for this one!
I just wish someone would publicly say the kind of things Russian politicans haven't been afraid to say about Barry. No, I don't mean banana jokes. I mean someone needs to be making the case to the public that not only doesn't this idiot know what he's doing, he has damaged a lot of people in the process.

The RINOs are afraid to do this because they are burdened by "white guilt". I doubt many of them have any, they still have to pretend they do.

They need people like us, who aren't afraid to tell it like it is.
hey hey black Albert

Columbus, OH

#8 Oct 3, 2013
Enzyte Bob wrote:
<quoted text>
I just wish someone would publicly say the kind of things Russian politicans haven't been afraid to say about Barry. No, I don't mean banana jokes. I mean someone needs to be making the case to the public that not only doesn't this idiot know what he's doing, he has damaged a lot of people in the process.
The RINOs are afraid to do this because they are burdened by "white guilt". I doubt many of them have any, they still have to pretend they do.
They need people like us, who aren't afraid to tell it like it is.
Why stop at obama? He's the sum total of the black experience and he's a stinking turd. Near 50 years of nationalizing this parasite class has destroyed cities, and is now destroying the country. I've said before, a mud hut is an achievement for some cultures, but that doesn't make it Monticello. Jim Crow knew what it was all about.
Enzyte Bob

Reynoldsburg, OH

#9 Oct 3, 2013
hey hey black Albert wrote:
<quoted text>Why stop at obama? He's the sum total of the black experience and he's a stinking turd. Near 50 years of nationalizing this parasite class has destroyed cities, and is now destroying the country. I've said before, a mud hut is an achievement for some cultures, but that doesn't make it Monticello. Jim Crow knew what it was all about.
I repeat: He comes from Kenya, which is on the East side of Africa. Blacks in this country come from the West side of Africa.

Kenyans look different, have a different history and have different coloration blacks in Western Africa.

THEY ARE DIFFERENT PEOPLE!

There are a lot of Germans who departed for Argentina after WWII.

Blacks celebrating this idiot's election and trying to attribute some meaning to it that they have somehow "arrived" is the same as some German celebrating the election of an Italian as President of Argentina.

I can't believe even whites are so ignorant they don't understand this.

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