into voting for it, promising O'care would become popular voted into law.
Turns out Obama (and Bill Clinton) were wrong when they told
Dems that voting for O'care was the key to winning reelection.
Posted on 09/23/2010 4:09:35 AM PDT by lowbridge
There's no such thing as a free lunch. If you're going to require insurers to cover more expensive customers and provide more benefits, it's going to cost more -- and those costs are going to be passed on to customers in the form of higher premiums. When New York implemented many of these same insurance rules in 1983, premiums rose by nearly $500 per policy -- resulting in nearly 500,000 New Yorkers dropping their insurance.
Already this fall, we're seeing premiums jump as much as 9 percent nationally next year, especially in the individual and small-group markets. Some customers are seeing hikes of 20 percent or more. And a significant portion of this increase is directly traceable to the new rules.
(Excerpt) Read more at nypost.com ...
When you put typical Ivy League no nothings in charge, these are the predictable results.
“A significant portion”? Try “all of it” insead.
Most insurers have already taken their annual increase for the year; the recent spike is due entirely to Obamacare. Some insurers are well into double-digit increases. I work in several states, and the highest increase (due to Obamacare) I have seen was 41%.
bttt
Obama is the domestic enemy and a traitor along with Reid & Pelosi.
Looking forward to what happens in November 2010 & 2012.
There’s no such thing as a free lunch. If you’re going to require insurers to cover more expensive customers and provide more benefits, it’s going to cost more — and those costs are going to be passed on to customers in the form of higher premiums. When New York implemented many of these same insurance rules in 1983, premiums rose by nearly $500 per policy — resulting in nearly 500,000 New Yorkers dropping their insurance.
Gee, ya think, where the hell were you, NYP, six months ago. Maybe you shoulda been parked on the phone with quite a few dem congressmen from your state, which certainly shoulders much of the blame for getting the POS passed, no?
“When you put typical Ivy League no nothings in charge, these are the predictable results.”
exactly!...the WH crowd has no clue about how free markets work.
THANK YOU! I keep reading articles that foretell astounding rate increases of "9% to 20%"! I just shake my head. My monthly rate went up 34% in July and my benefits were cut. For one, I am paying more for prescriptions.
I recently got a letter form Blue Cross "celebrating" the new changes - children covered till age 26 and no lifetime ceiling on benefits.
Thanks Obama and Company! You know good and well you didn't fool us one bit. You just BEAT US!
My premium increase was just announced. $164 to $205 per month (24%). We budget to go out to dinner twice a month. There goes one of them.
In January, my husband and I will lose our advantage plus medicare policy. Millions of other seniors will also lose theirs over the next few year and they all will be phased out by 2014.
This means we will have no prescription drug coverage and will only have the very basic care that medicare covers.
We will have to buy a supplemetal insurance policy to cover our drugs and to cover benefits that standard medicare doesn’t cover.
We are looking at $2400.00 a year. I’m not sure we can absorb this.
Obama celebrating theft.
The biggest problem the Obamacare legislation caused is the forced increase in loss ratios; that is, that insurers are now required to keep 85% of their profits in cash reserves (it used to be 60%). This means that insurance companies, part of an industry with a low 7-8% profit margin to begin with, must now cover a higher risk pool and provide more benefits... and do it with an even smaller profit margin than before.
Name any industry - pet food, soft drinks, beauty products, you name it - and you have an industry that clears a much larger percentage of profit than any health insurer. The Obama government-mandated increase in the loss ratios is the real story. All of the health insurers that I work with have had huge layoffs in the last six months as a direct result of Obamacare.
Mine will arrive next week I am told and expect a similar increase on top of the one this year which was 20%. I have a no frills (no eye or dental coverage) and substantial deductables and co pays. Still, my rates go up similar to everyone elses. Also, mine is an individual plan and I have NO 26yo ADULTS ON IT. grrr.
There are a few changes that will be a wash for costs — like requiring insurance to continue covering children up to 26.
Well, a wash for insurance that is. This particular one costs companies who subsidize the health care costs of their workers. You already pay extra to cover children in most of these plans, but the employee usually only pays a portion, and the employer pays the rest.
Now, the employer will have to continue subsidizing the children’s insurance for 5 more years, if the employee asks for it.
I expect that my child add-on for my employee insurance will increase to cover this extra cost to my employer, or else it will be factored into our pay scales for future raises when the economy finally gets better.
Meanwhile, by covering children on parent’s insurance, they have undercut the market for young adult insurance policies, a lucrative market that also got children into the habit of owning insurance.
So this change actually goes AGAINST the plan to teach all young adults to carry insurance at all times. Of course, they are going to be required to do so soon, and forced to pay lots more than they would otherwise have to in order to subsidize old people.
Still the “children to age 26” provision is probably one that a majority of americans like. Just like most americans like the idea that they can get insurance after they get sick.
The only provision I think is a rational one is new enforcement provisions to keep insurance companies from cancelling people after they get sick (although I already thought this was illegal), or by dropping people for “cause” by finding clauses in their contracts that the people got wrong.
On the second, I agree people shouldn’t be allowed to lie — so I would have said that an insurance company can only go back 2 years for fraud, and that the insurance company should be allowed to insist on a full medical workup to verify that the person buying insurance didn’t lie.
I knew about this, the number of insured sky-rocketed in NY. There are a bunch of these Obama-care articles this morning, here are two more:
Obama faults himself for not selling health law
Obama is not up for election, but how about all those democrat idiots in congress that he promised the bill would become more popular that will be fired for that yes vote?
and : Insurances Eliminate Child-Only Policies, Is it a Sign of Future Cutbacks? (Obama Lied, Again!)
Nope, because even that which is free is taxable.
a direct result of Obamacare.
Just how many ways does he care?
Rhetorical question.
The only solution is to get rid of both obama care, and obama.
Good golly miss molly the abject stupidity of the American people.
Turns out Obama (and Bill Clinton) were wrong when they told
Dems that voting for O'care was the key to winning reelection.
Knowledge is something they don't conceptually understand, though they are convinced that they are the flame-keepers of knowledge. Once you've closed your mind and start believing you are special and know more than everyone else, you have become afflicted with the blinding disease of ‘dogmatic ignorance’. This disease, unfortunately, has become endemic in academics, journalism, and politics.
Fix Health Care Policy (graphs)
http://fixhealthcarepolicy.com/
How ObamaCare Guts Medicare
http://online.wsj.com/article/SB10001424052748703649004575437311393854940.html?mod=WSJ_Opinion_LEFTTopOpinion
Obama: We knew health costs would go up
http://thehill.com/blogs/healthwatch/health-reform-implementation/118079-obama-we-knew-health-costs-would-go-up
Health law’s heavy impact by Paul Guppy
http://www.spokesman.com/stories/2010/mar/28/health-laws-heavy-impact/
Health care politics run into economic reality
http://www.msnbc.msn.com/id/39107994/ns/politics-white_house/
Seniors* coverage options dwindle as Medicare Advantage programs close shop
http://www.dallasnews.com/sharedcontent/dws/bus/stories/DN-advantage_22bus.ART.State.Edition1.3c912a9.html
Obamacare’s Avalanche of Paperwork
http://www.nationalreview.com/articles/229754/obamacares-avalanche-paperwork/deroy-murdock
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