Skip to comments.Why Health Insurance is Skyrocketing
Posted on 10/17/2013 11:42:09 AM PDT by originalbuckeye
I have been trying to figure out why the Government regulations are being required of the insurance companies. Why make them cover say maternity costs for all women, including those over fifty? I think I have the explanation. By the health insurance skyrocketing for all, people will be forced to pay and accept higher costs associated with medical care. That way, when the inevitable single payer system is implemented, the citizenry will not feel as much pain as they would have when every working person's Federal taxes go up 10% to pay for healthcare for all.
The insurance companies sold out to obamacare. They are more than happy that the government requires old people pay for coverage not needed.
I never had a problem as a women paying more for insurance to cover pregnancies while I was “fertile”.
Of course I use more services just on pregnancy alone.
obama has no idea about risk pool and how business are run
well someone has to pay for the Obama supporters
Actually, I think he does. Keep in mind that his goal is to destroy private health insurance. Once that goal is achieved, the only thing left will be the government and single payer.
Since when is it the insurance Co.’s to refuse to do business because a minority of the population dislikes what the democratically elected govt. has mandated. The insurance Co.’s merely are following the laws and regs as they are written to try to keep a viable business. Try your class warfare elsewhere.
It’s working, even 1/2 the people on FR complain about the insurance companies. Obama will have the whole country screaming about evil insurers soon enough and people will cheer when he puts everyone on (single-payer) medicaid.
“The insurance Co.s merely are following the laws and regs as they are written to try to keep a viable business.”
Uh, the insurance companies made sure the laws and regs were written to their benefit ...
It is not my job to pay for your aspirin.
It is really silly these days that people demand others pay for what they want yet will not earn themselves.
That a$$hat has never had a boss, managed a budget, solved a problem, led a team or even effort, been accountable for employees, or even had a REAL job. To suggest he has the foggiest idea about how ANY business runs is a farce. The only thing he knows about capitalism, entrepreneurialism and the free market he learned from the likes of Alynski and Carl Marx. I'd bet my life savings he's never actually read the Constitution or the Declaration of Independence. I have my doubts about whether or not he actually earned any degrees.
I guess what I am saying is.... I agree with you.
Yes, I am sure it would have been done much better if the govt. had had some landscapers and and lab technicians write it up instead. Do you truly think insurance regs should be written by people who have no connection with insurance companies?
“The insurance Co.s merely are ....”
making a lot of money due to their obamacare sellout.
He may succeed in destroying private health insurance as we know it.
But he will probably not be able to totally destroy the free market.
And as long as the free market exists, new markets can be created to replace what we once knew as “private health insurance.”
I know this might sound too optimistic. But it’s true.
"Spoiled?" Really? Is that what you call it when you've been purchasing a product at a fair price?
“Yes, I am sure it would have been done much better if the govt. had had some landscapers and and lab technicians write it up instead. Do you truly think insurance regs should be written by people who have no connection with insurance companies?”
Unlike you, I don’t believe that Obamacare laws should have ever been written.
It is way past time to stop pretending that Obama is just a likable black skinned Jimmy Carter - a well meaning bumbler who just doesn’t grasp the complexities of his job.
Nothing could be further from the truth.
Obama is a psychotic, racist, ultra-left ideologue hell bent on destroying America and remaking it into some simplistic socialist utopia.
He told the world he wanted to fundamentally change America.
More Americans should have asked what he meant by that before blindly supporting him.
Don’t worry it all evens out. We guys get nailed for car insurance when we are young, bigtime.....
Seems you’d prefer these companies should just fold up rather than follow the new rules? Can you explain such a stance? Can you tell me what % of profit on their premiums you’d consider excessive?
I’m not sure you are on the right site. You seem to begrudge a business a profit when it suits you. Presumably you’ve been emplyed, so, when you receive your paycheck do you hand it over to charity? I’d hate to think you were keeping it and being hypocritical by profiting.
There are many doctors who are switching over to a cash-only payment system, which cuts the insurance companies out of most day-to-day health care. This is the way it used to be and was a primary reason why we had good health care at low cost. Insurance should be for the “big stuff” (catastrophic).
This will work until the government requires that doctors take health insurance or they won’t be able to practice medicine.
I’ll forgive you for not looking at my posts, no, I’ve never said anything about wanting ACA at all. But facts are it was implemented by a govt that is presumably reflective of the majority. Insurance companies are merely following the ever changing laws as they’ve down for decades. Some are branching out, because they know there will be no such thing as health insurance in due time. Only single payer.
I'm not sure that was warranted. If you recall, the insurance companies originally fought against Obamacare. They argued that the business model wouldn't work under Obamacare. Several changes were made to appease the insurance companies. The democrats argued to the insurance companies that they wouldn't be hurt because they would get so much more revenue since EVERYBODY HAD to purchase the minimum plans. Dems convinced the insurance companies that as long as they were part of the exchanges, the pool of customers would be much larger.
As I understand it, the insurance companies were woo'd by the prospect of having higher premium revenues to offset the multitude of losses. It hasn't panned out however. Only those that NEED insurance will be seeking this entitlement. Those are the high risk folks that will be subsidized by the government. Indeed, the biggest insurance companies did help with the final designs of Obamacare. They struck a deal with the devil and most are now regretting it. The rest are hoping for the best. They are all now committed. The rates are high because the promises were bogus and haven't panned out. They now either have to make money or go out of business. The latter was more closely aligned with what Obama hoped.
Re insurance company regret: I just want to add to the discussion that the regret may only be a tinge of worry at this point. Some insurer stocks (Humana (HUM), Wellpoint (WLP), United Health (UNH), Aetna (AET), and Cigna (CI) are pretty close to their all-time highs.
I’m in your corner on this one. Obamacare was passed by collusion with the insurance companies and their lobbyists, not despite them. Also, from now on, “insurance” is a complete misnomer, much like “gay marriage”, since the risk/actuary free-market mechanism has been obliterated. They can now ask any price, you have to pay, and the IRS will make sure you do. It’s a tax on existence, put in place by a criminal enterprise running the WH, period. Obama’s jizya.
I disagree. I don't see FReepers complaining about "insurance companies." Instead, I see FReepers complaining about what is becoming of the insurance industry because of Obamacare. Insurance companies did get on board and supported Obamacare after initially protesting. They chose poorly. But they need to make money to stay in business and got sold a bill of goods. They got fooled. I don't blame insurance companies for trying to turn a profit. They are now battling Goliath with a slingshot. And I doubt God is taking sides on this one.
If you think we can provide single-payer for all with a measly 10% tax increase, keep dreaming.
Insurance companies began having multiple orgasms at the very thought of 50 million new customers being forced at gunpoint to buy their product. I ABSOLUTELY pin a share of the blame on them.
Why did you think we weren’t seeing those Harry and Louise ads this time?
IMO pre-existing conditions is the major cause of insurance rate hikes. Also with pre-existing conditions included, no longer should it be called insurance. Call it welfare.
Bingo! You notice that during the healthcare debates a few years ago you heard nary a peep from the insurance companies.
If they didn't want O'care they would have run countless ads and such against it.
Instead, we're required by law to buy their product. They have monopolies at the exchanges. Sure, they have to insure people with prior problems but they're raising premiums to deal with that.
I didn’t consider us spoiled until I worked for the NHS in Britain. There people are stoic, accepting of whatever they are ‘given’ when it comes to medical care. Americans are expecting the level of care we have had in the past. A really rude awakening is on the horizon. We HAVE had the best medical care in the world. It is no more.
I do not believe Obama will allow private medical care after single payer is implemented. It isn’t ‘fair’ that some will be able to afford private doctors. There aren’t private doctors in Canada.
I believe Betsy McCaughey found a passage that recommended a tax of 9.6% within the parameters of Obamacare for the single payer system when it is implemented.
“As I understand it, the insurance companies were woo’d by the prospect of having higher premium revenues to offset the multitude of losses. It hasn’t panned out however. Only those that NEED insurance will be seeking this entitlement.
Those are the high risk folks that will be subsidized by the government.
Indeed, the biggest insurance companies did help with the final designs of Obamacare.
They are all now committed.
The rates are high because the promises were bogus and haven’t panned out. “
Wow, do have any understanding of this, math or otherwise. When a policy has to have everything such as maternity for all, and people have to be accepted with pre-existing issues, do you have any conceptual idea what this does to the costs spread over the pool? I guess you believe that premiums - overseen by 50 separate agencies, i.e., per set and examined state - are set arbitrarily just to see how much profit can be made.
Govt. is not subsidizing any high risk, where do you come up with that. They subsidize low income. And consider this basic economic fact - You will get more of anything you subsidize. The US will be poorer overall, since it is again subsidizing failure and poverty.
Yes, the insurance co.’s are committed to following the laws of 50 different states and hoping to stay in business. And my conjecture at the start of this thread is proven, supposed conservatives will be glad to join in the class warfare when it suits them and gives them some meagar short-term govt. cheese to eat. You will soon be wailing for single-payer along with the idiots at HuffPo.
PS- And remember the IPAB, which will be denying care to those they deem unworthy. That’s a real cost cutter right there!
Me too. They drank the cool-aid, disrobed and crawled in bed with the beast. Stock prices notwithstanding, health insurance companies are NOT making more money off of Obamacare, yet. But they have already seen that their expectations (and reason for orgasms) were exactly wrong, hence the dramatic increase in premiums. Obama's problem now is and will be explaining why all these insurance companies are "allowed" to increase their rates. The beast is about to turn on them. After all this hub-bub about Obamacare is replaced in the media cycle, they'll start pressing legislation on price control of premiums.... wait, never mind. Obamacare gives them that power now.
The old "risk based" insurance model won't work for them now so they have to raise rates to the riskiest end of the spectrum. They no longer get to decide who they insure and for what price for that portion of the business that was to provide these 50 million new customers.
I am not defending the insurance companies. They made their bed. But it WILL be the fed that either 1) Bails them out or 2) Forces their demise.
Elections and bad decisions both have consequences.
I don't think they pay a lot of money for maternity costs for women over 50 so I doubt that's a problem. And insurance costs have been skyrocketing for years now.
I’ve worked for a large Aerospace Co. for 32 years. My premiums have gone up 525% since 2002. Am I paying enough yet??? (My pay has increased 55% in that time period)
Wrencher, we apparently have a failure to communicate here somewhere. Please read the rest of my posts. I’ll try and be succinct and summarize my thoughts here on this post. I think we agree (maybe not).
1) Insurance companies are one of the reasons Obamacare got enacted into law. They contributed to the legislation. It’s partly their fault we are having this discussion. They get what they deserve.
2) Insurance companies are raising their rates to accommodate the changes they agreed to in their support of Obamacare. For now, Obama and the dems are allowing this. The rates are going up because of Obamacare.
3) Now that we are where we are, there are three avenues for the future. (A) The insurance company premiums in the exchanges are “price controlled” (to make cheaper) and the insurance companies subsidized by the fed for their losses. (B) The insurance company premiums in exchanges are price controlled and the company’s go out of business (Preferred by Obama). (C) Obama allows the insurance company’s to charge what they must to be compliant with the law and make a profit.
Now... If we truly ever want to get rid of Obamacare, we are going to need insurance companies in business to do business with the private citizens. Once the health insurance industry is dead, we’ll be wholly dependent on the government where health insurance is needed. I believe that is the master plan behind Obamacare anyway. Unfortunately I have to root for the Health Insurance Providers to stay in business if I ever hope to someday get rid of Obamacare.
Maybe this clears things up. Otherwise, I am lost about what we are debating.
...Based on expectations. How many new customers have they gotten so far? If I had stock in them, I'd be selling. I believe those stocks are high because they were expecting (and still may be) 50 million new paying customers. It's the DotCom effect. Eventually, we're gonna make some money!
ObamaCare is a tax that was not passed in a democratic way. EVERY Republican voted against it so the democrat scumbags changed the rules to get it passed. The majority of Americans opposed this tax and healthcare takeover.
“Ill forgive you for not looking at my posts, no, Ive never said anything about wanting ACA at all.”
Perhaps I misread your statement about how the insurance companies should write federal laws controlling our healthcare ...
” I don’t see FReepers complaining about “insurance companies.”
Perhaps you have not read the posts on this thread.
“Im not sure you are on the right site.”
Which Alinski rule is that?
A really big reason for medical cost increases, along with health insurance costs skyrocketing, is due to frivolous lawsuits. Malpractice insurance is astronomical, yet Tort Reform was not included in any of the ‘reforms’ we have to follow. I am sure that the lawyers are happy with this and will continue to give generously to the Dems. By the way, doctors will be paid much less when they are under the thumb of Govt, but they will not be shielded from lawsuits by Obamacare. What doctor would continue to practice under these conditions?
About half the states have already enacted tort reform and cap malpractice payouts. List Are the medical costs in those states dropping?