Thursday, March 28, 2013


ObamaCare might face both an economic and a political problem. 

“...the overwhelming majority (of states) will see double-digit increases in their individual health insurance markets, where people purchase coverage directly from insurers...,” so says AP News.

According to a study by the Society of Actuaries, AHA claim costs in California are expected to increase by 62 percent by 2017. There will be an 80 percent increase in Ohio, in Maryland, they will grow by 67 percent and in Florida costs are expected to grow 20 percent. The higher claim costs are related to the increase in sick people expected to join the pool, according to the report.

Under the Affordable Care Act, medical claim costs, the largest driver of health insurance premiums, are expected to increase by 32 percent for individuals, a new study by the Society of Actuaries finds.

Actuaries are financial risk professionals who conduct long-range cost estimates for pension plans, insurance companies and government programs

President BO (the amateur president) has repeatedly told us that under ObamaCare, the cost of health insurance would go down.

According to AP News, the administration is questioning the study, saying it doesn't give a full picture - and costs will go down.

Well, let me give you my assessment: Every living soul in the U.S. will be affected by and hurt by ObamaCare.

We will all rue the day we passed it so we could see what was in it. (Do we do that with all legislation? How about ANY OTHER legislation?)


Craig said...

Joe, The study only looked at claims costs using current trends in rising health care costs generally. It didn't include any of the ACA's cost saving provisions. The authors of the study have admitted it,

Kristi Bohn, an actuary who worked on the study, acknowledged it did not attempt to estimate the effect of subsidies, insurer competition and other factors that could mitigate cost increases. She said the goal was to look at the underlying cost of medical care.

Insurance expert, Larry Levitt, with Kaiser Family Foundation said,

I’d generally characterize it as providing useful background information, but I don’t think it’s complete enough to be treated as a projection.

I guess we'll know soon enough if all the dire predictions from the Right come true. I'm not a big fan of ACA, it's a Heritage hatched plan. It's better than nothing though. So far, not bad.

Some 6.6 million people ages 19 through 25 who have been able to stay on their parents' insurance plans and more than than 3 million young adults getting health insurance.
17 million getting some kind of free preventive service, like flu shots, and 34 million Medicare recipients getting free preventive services in 2012;
17 million children with pre-existing conditions being protected against being uninsured;
More than 107,000 adults with pre-existing conditions finally having insurance under the federally run insurance program;
21 million received care from expanded community health centers, 3 million more than previously served;
$1.1 billion in rebates, an average of $151 per family paid by insurers that failed to meet the benchmark of 80 to 85 percent of premium revenues on medical claims or quality improvements;
Since 2010, more than 6.3 million older or disabled people have saved more than $6.3 billion on prescription drugs;

The annual growth of health care expenses has declined sharply, both in private care and Medicare.

Got that, Joe? It's already saving you money.

sue hanes said...

Joe - I'm hoping that Craig is right. I'd rather be optimistic than pessimistic. I hope President BO is on the good side of this Health Care thing. Isn't that just possible.

Just give it a chance - Joe.

Glenn E. Chatfield said...

It has already raised my health care costs to be detrimental to my fiscal solvency!

Anonymous said...

Craig is an Idiot!

Xavier Onassis said...

G.E.C. - In what way has the AHA already raised your health care costs?

Please be specific. Provide examples of prices you were were paying for something before AHA that are now more expensive because of AHA.

I'm going to go out on a limb here and predict that you cannot provide a single instance of you having to pay more now for something you had before that you can conclusively link to the AHA.

Go ahead and try. It will prove to be great sport for those of us who live in a world of facts and reality.

Entertain us with your paranoid, delusional fantasies of injustice.

Joe said...

Craig: OK, sit back and enjoy higher premiums, higher medical bills, longer waits at emergency rooms, fewer doctors, especially specialists, less treatment available for older folks and astronomical taxes. I'll enjoy saying "I told you so."

sh: I'd rather not.

GEC: Pay attention! XO knows your situation better than you do. Just follow his lead...and we'll all go under togethr.

XO: Why do you think GEC owes you any specifics about his financial situation? That's the thing with you liberals, you think everybody's business is your business.

Xavier Onassis said...

Joe - G.E.C. made an outlandish claim. I'm simply asking him to back up his claim with actual facts.

Glenn E. Chatfield said...

My health insurance company specifically stated that they were raising premiums and co-pays due to the AHA (aka "Obamacare"). Now, you can say they lied to me, but I would trust what they say over your lies.

My premiums went from $962 per month in 2010, to $1120 per month in 2012, to now at $1484. Fortunately for me, I only pay half while my annuity includes the other half.

My co-pay for normal doctor went from $15 to $25, specialist went from $25 to $50, ER from $50 to $150, hospital stays from $0 to 20%. (none of this covers dental, which has cost me big $ the past two years - including surgery last week)

I have a disease which has taken me to the ER four times last year, with regular almost monthly visits to specialists. I have come close to emptying my savings in the past two years to cover expenses which were previously covered.

When OBAMACARE requires insurance companies to pay for coverages they didn't used to pay for, when it requires them to keep people on their parents' policy until they are 26 - and thereby depriving the company of all those separate policies - someone has to pay for it!