Posted on 08/11/2016 9:36:45 AM PDT by Sean_Anthony
Gigantic losses put exchanges on the brink, send program careening into chaos
Remember when everyone watching ObamaCare was focused on how many people had signed up? First they needed 7 million, then 11 million, and on it went as new targets replaced the old. These weren’t meaningless - at least it didn’t appear that way. The targets represented the critical mass the Obama Administration itself said the program needed to be economically sustainable. Insurance, they told us, is about risk pools. If you’ve got enough people in the risk pool, you’d have enough premiums being paid in to cover those who were sick.
Well, they got their numbers, although it wasn’t easy. There are now more than 20 million people signed up for ObamaCare. So it must be a financial boon for the insurers participating in the exchanges, yes? After all, the insurers supported ObamaCare on the theory that the participation mandate would net them lots of new customers.
The part of the scam where all citizens were FORCED to buy this didn’t work out... these companies deserve what they’ve gotten. Next time maybe they won’t donate to the crooks in Washington...
Michigan they are expected to jump 17.3 percent this year. In Virginia, the average premium increase could hit 37.1 percent
CA 17%
Or are they still holding that back until after THIS election...?
That is the one that would have doomed it for democratsSwitch to health shares, people. Some want you to be Christian but some allow people who believe in personal responsibility. Check out Liberty Health Share, we’ve belonged for 2 years. Low premiums and they cover any medical professional or hospital (except mental).
Oh, I disagree, I think they've only gotten the first downpayment of what they deserve.
I didn’t buy it. I’ve saved almost $40,000 AFTER TAX dollars since January 1. 2014 by not having health insurance. What little health care I need, I pay for out of pocket. Counting dental visits, optometrist visits and two pairs of glasses it comes to a total of just over $1,000 out of pocket. The funny thing is that insurance would have only covered about $200 if that.
Health insurance is not the panacea everyone thinks it is. The truth is, most of us will be fine without it, and even if something DOES happen, it’s surprisingly cheap if you shop around. I mean 90% cheaper if insurance is not involved.
i.e. it’s a scam.
I’m surprised that these annual huge premium increases have not been a bigger story. And then hillary is out there saying we need to get health care costs down. What the heck would she do that Obama and his boys didn’t do in this area???
HOORAY single payer. The only thing that can save us from those evil capitalist insurance companies....
/s
Hey Paul Ryan - did YOU Paul Ryan - get lots of pity party letters from citizens begging for help? The kind written in Democrat War Rooms to trick fools into passing liberal legislation that SHAKES THE LIBERAL DONOR MONEY TREE?
Hey Paul Ryan - did YOU Paul Ryan - get lots of pity party letters from citizens begging for help? The kind written in Democrat War Rooms to trick fools into passing liberal legislation that SHAKES THE LIBERAL DONOR MONEY TREE?Nice piece by Dan Calabrese ...
Bkmk
Good one - I like your style...
For Obamacare to continue, they will have to find funds they can ‘steal” to use. The healthcare system never had a chance at making it financially and has been backed by government funds to include social security and medicare funds. for years depleting them to extremely dangerous levels threatening insolvency as early late this year. If they don’t get the rate hike, it is doomed completely.
It is my understanding that the average rate hike at this time is over 40% of the original costs when Obamacare fell into place. And the stupid thing is that government healthcare systems have never done anything but get by anywhere they were tried. A lot of people say Canada’s system works. It does as long as the US hospitals continue to take patience from them to places like Detroit MI.which is the most used hospital by Canadian patients.
red
We all knew this would happen.
The idiot Nancy Pelosi and Obama actually thought that millions of young healthy adults were going to pay 30% of their wages to purchase insurance that they DO NOT NEED!
Even with a mandate, the vast majority of young, single twenty-something millennials were NEVER going to purchase this ridiculous insurance, even with the threat of paying a penalty to the IRS. These young people have no assets so they won’t pay the penalty anyway.
They will purchase the insurance ONLY when they actually need it. They’ll make a single premium payment and then stop paying after they get treatment.
It is human nature, something the imbecile Pelosi and Obama do not understand.
But... but... but... Every family in America is supposed to be saving $2500 per year.
Zerobama promised us! Deem and pass was supposed to save us all.
I hope every person who supported 0bamacare gets hit by a meteor or eaten by a shark. Heck, I’d even settle for anvils falling on their heads.
How much should an operation cost?
A few grand at most for the surgeon, maybe $1,200 for the gas guy/gal, maybe $1,000 to rent an operating room and equipment and to sanitize it before the operation and maybe about $600/day/patient for a few days of recovery in a four patient/nurse recovery ward.
Surprising how little coverage this has gotten in the US press.
On second thought, not surprising at all.
I KNOW you were baiting us for this!
What is left out of your equation is the 'shared responsibility' costs. Even before "0 Care", hospitals, especially those with emergency rooms which are legally REQUIRED to care for all, regardless of ability to pay, added an overhead cost to legitimate fees in order to stay in business.
Now, with "0 Care", we not only have this indigent overhead cost, but have added the governmental regulatory oversight and sharing costs brought on by "0 Care"! Like anything else governmental, a lot of this is the generic cover-everything that leads to paperwork nightmares.
So now we have what an operation actually costs PLUS the hospital's indigent overhead PLUS "0 Care"! It would not surprise me in the least if the latter two cost more than the actual real cost for the operation!
I ask because there is a decent chance our company (Fortune 500 level) sent out a letter recently warning that cancellation could happen and we might be sent to the government exchange to buy our own.
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