And then, of those that paid, how many are actually in legitimate policies, and how many have botched enrolments and have just made payments on a non-existent policy?
I should add that I read somewhere else that a lot of these plans are “platinum” and are therefore unlikely to be “young healthies”, who would be wasting money on such comprehensive coverage; these are almost certainly mostly older and/or sicker enrollees who are about to sock the system with extensive and costly claims for treatment of those “pre-existing conditions” they couldn’t get treated before.
This law is like a turd that won’t flush.
I’ll point this out....all of this has an effect on the ongoing review by insurance companies for the mid-summer 2014 rate adjustment for January of 2015. If they reach an opinion that a thirty-percent rate adjustment is necessary...it’ll shock everyone this summer as the new rates come out for 2015.
The news media seems to think that the crisis period is over...but it gets into a more dire situation as they figure how badly they guessed at the right rate, and how few signed up and actually paid. It’ll be a shocker as folks get the rate news in July and start to figure their budget game for next year. Another thousand off the family budget? Can most folks find another thousand bucks just sitting around? Increase your deductible to get a lower monthly rate, then try to avoid going to the hospital at all?
when the numbers look bad for government multiply it by 4-10 to get the REAL numbers..
“Poor” people not paying their bills. Expecting others to pay. Who’d a thunk it!
More likely it is people signing up for plans, finding that they have to actually pay for the plans, saying BS on that, and staying uninsured.
Like shopping on-line, going to checkout, seeing how much items in your cart cost plus shipping and any taxes, then decide it is too expensive right now, leave the site and never empty your cart.
A business would never count this as a sale. A desperate for credibility government program counts it as a done deal.
The 20% figure is a fraud.....that’s the number the administration is floating. Strange how they can’t find out anything else about who’s signing up but they know unequivocally that 20% haven’t paid. When these bastards say 20% just double that and you are at least in the ballpark!!
Translation of “at least 20% haven’t paid”: At most, 20% have paid and about 20% of those cases have been lost in cyberland.
The parallel here is the idiotic subsidy and low qualification standards for first-time home buyers with low credit scores and no money for down payment.
What did we get? A housing market collapse, and with it the securitization market for RMBS paper.
Same thing is going to happen here, but with the medical insurance market and the medical services industry.
While the poor are mostly an economic drag, the efforts of do-gooders to “do something” about people who can’t manage money (or their lives) are worse than worthless.