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Canceled Policies Could Be a Plus for New Markets
ABC News ^ | November 7,2013 | RICARDO ALONSO-ZALDIVAR Associated Press

Posted on 11/07/2013 1:38:31 PM PST by mdittmar

Insurance cancellations are fueling a political backlash against President Barack Obama and Democrats supporting his health care overhaul, but they may be a silver lining for the law itself.

It's Economics 101, a little-noticed consequence of a controversial policy decision. And there are winners and losers.

Millions of people who currently buy their own health insurance coverage are losing it next year because their plans don't meet requirements of the health care law. Experts say the resulting shift of those people into the new health insurance markets under Obama's law would bring in customers already known to insurers, reducing the overall financial risks for each state's insurance pool.

That's painful for those who end up paying higher premiums for upgraded policies. But it could save money for the taxpayers who are subsidizing the new coverage.

"Already-insured people who do roll over will improve the risk pool, not hurt it," said David Axene, a California-based actuarial consultant for health plans, hospitals, government programs and employers.

Compared to the uninsured, people with coverage are less likely to have a pent-up need for medical services, he explained. They may have already had that knee replacement instead of hobbling around on a cane. They're also more likely to have seen a doctor regularly.

(Excerpt) Read more at abcnews.go.com ...


TOPICS: News/Current Events
KEYWORDS: 0carenightmare; abortion; cancellations; deathpanels; liberalspin; obamacare; zerocare
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1 posted on 11/07/2013 1:38:31 PM PST by mdittmar
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To: mdittmar

This is the “Broken Window” fallacy.


2 posted on 11/07/2013 1:43:03 PM PST by wolfpat (Not to know what has been transacted in former times is to be always a child. -- Cicero)
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To: mdittmar

“Just like breaking windows on buildings as a way to increase spending on replacing the glass and thus “good for the economy.” It isn’t.


3 posted on 11/07/2013 1:43:09 PM PST by GreyFriar (Spearhead - 3rd Armored Division 75-78 & 83-87)
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To: mdittmar
Good old ABC...always trying to find the diamond in the Rat Party's turds.
4 posted on 11/07/2013 1:43:15 PM PST by Gay State Conservative (Osama Obama Care: A Religion That Will Have You On Your Knees!)
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To: wolfpat

Spin, spin, spin.


5 posted on 11/07/2013 1:45:19 PM PST by LS ('Castles made of sand, fall in the sea . . . eventually.' Hendrix)
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To: mdittmar

The democrats are all for (controlled) free markets now.

But we could never have a free market across state lines, because that wouldn’t lead to single payer.

Who exactly is this magical, altruistic individual that will be taking care of everybody’s health costs??


6 posted on 11/07/2013 1:48:05 PM PST by cotton1706
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To: FReepers

Click The Pic To Donate

Support FR, Donate Monthly If You Can

7 posted on 11/07/2013 1:48:20 PM PST by DJ MacWoW (The Fed Gov is not one ring to rule them all)
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To: mdittmar
The reason why people were thrown off their health insurance providers was because their former plans did not line up with the mandates from on high.

How is a "new" market going to be able to do any better considering they still have to line up to the federal mandates?

8 posted on 11/07/2013 1:49:44 PM PST by Slyfox (Satan's goal is to rub out the image of God he sees in the face of every human.)
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To: mdittmar

Not so fast, ABC ObamaBots. Those dumped from their private policies can be smart and refuse to sign up until they are sick. The penalty for doing so would be much cheaper than their sky-high premiums.....and they can’t be turned down for a pre-exiting condition.


9 posted on 11/07/2013 1:50:02 PM PST by txrefugee
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To: wolfpat; GreyFriar

Bingo!!! We have two winners. The broken window fallacy strikes again. It’s the only economic system liberals know.


10 posted on 11/07/2013 1:50:11 PM PST by Hardastarboard (You can keep your doctor - if you lock him in your basement.)
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To: mdittmar

What about people losing their lifetime doctors? Oh well!


11 posted on 11/07/2013 1:50:50 PM PST by CivilWarBrewing
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To: GreyFriar

and just like buying bottles of Turd Polish really doesn’t make anything shinier


12 posted on 11/07/2013 1:51:37 PM PST by bigbob (The best way to get a bad law repealed is to enforce it strictly. Abraham Lincoln)
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To: txrefugee

You are right. If and when my health insurance is cancelled I will put the monthly premium money into the bank and use it to pay cash to doctors. If something serious comes up I will buy insurance on the way to the hospital. The problem is, millions of people will be doing the same thing and there won’t be any insurance companies left.


13 posted on 11/07/2013 1:53:41 PM PST by forgotten man
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To: mdittmar
Millions of people who currently buy their own health insurance coverage are losing it next year because their plans don't meet requirements of the health care law.

Now that's just awesome! Happy freaking days are here again!

That's painful for those who end up paying higher premiums for upgraded policies. But it could save money for the taxpayers who are subsidizing the new coverage.

So would euthanasia.
14 posted on 11/07/2013 1:58:46 PM PST by mmichaels1970
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To: mdittmar

But the alleged purpose of all of this was to insure the uninsured.


15 posted on 11/07/2013 2:00:33 PM PST by kabar
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To: mdittmar

Solzhenitsyn nailed it decades ago. Collectivism is a model which does not take into account human behavior.

People respond in a way that works best for them, and will only take a mandated option if they are coerced or have no other option.


16 posted on 11/07/2013 2:00:34 PM PST by lurk
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To: txrefugee

Yep!


17 posted on 11/07/2013 2:03:06 PM PST by Fledermaus (If we here in TN can't get rid of the worthless Lamar, it's over.)
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To: mdittmar
Insurance cancellations are fueling a political backlash against President Barack Obama and Democrats supporting his health care overhaul, but they may be a silver lining for the law itself.

They speak of this monstrosity as if it's a living thing.

18 posted on 11/07/2013 2:04:36 PM PST by Moonman62 (The US has become a government with a country, rather than a country with a government.)
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To: lurk

Vell, then, ve must offer them no other opshuns, eh?


19 posted on 11/07/2013 2:06:46 PM PST by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
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To: kabar

That was exposed really early on, even before it passed, that of the “43 million uninsured”, only about 10 million more would get covered.


20 posted on 11/07/2013 2:07:36 PM PST by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
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