ObamaCare Vindication Watch: Majority of Workers Will Have to Change Health Coverage

During the health care debate, President Obama promised that those who liked their health care plans would be able to keep them. Critics of the legislation countered, however, that this was an empty promise, because the sweeping changes would nonetheless prompt employers to change health plans.

Score another point for the critics...."an early draft of an administration regulation estimates that many employers will be forced to make changes to their health plans under the new law. In just three years, a majority of workers-51 percent-will be in plans subject to new federal requirements."

The AP story goes on to say that, "some experts believe increased regulation will lead to improved benefits for consumers." Of course, those added benefits -- chosen by government, not individuals or even their employers -- will also drive up premiums.

MOST healthcare policies have a life-time maximum benefit of $1 million. That is now illegal - I think this is how most policies will be determined to be “bad.” I guess the word “underwriting” will be taken out of the dictionary with it’s present meaning.

The 85% loss ratio that kicks in on Jan. 1 is the real game changer for insurance companies. It basically mandates that co insurance plans must get ALL their expenses covered other than claims out of the remaining 15%. That basically means that the government has legally mandated how much profit an inurance company can make, IF they can make a profit after expenses in that remaining 15%.

85 cents out of every dollar of premium MUST be spent on claims. IF not, it must be refunded to the insured. Once met, out of the remaining 15 cents the carrier must pay for salaries, admin, customer service, underwriting fees, marketing, commissions, massive IT capabilities, and everything else that goes along with servicing millions of customers.

I can't WAIT to call customer service now! /s

But everything that people hated about health insurance NOW is about to get dramitically worse AND more expensive....and it IS by design. Not to mention all the jobs that will be cut and side industries like brokerage firms will be downsizing. No more competition (by design) as there will most likely never be any new innovation in products or services. Employers will be dumping coverage for millions of people and the health insurance exchanges will not be set up until 2014. Should be an interesting next few years in this industry.

MOST healthcare policies have a life-time maximum benefit of $1 million. That is now illegal

Ha...if you look like needing a $six figure treatment ....you will be waiting on the 0bamacare/DMV/IRS goons to approve it....you will be lucky to crack six figures in pennies before you get the "blue pill."

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