Skip to comments.Report: Obamacare's High-Risk Pool Spending Doubles Government Estimates
Posted on 06/28/2012 10:03:52 AM PDT by Lorianne
Obamacare threw a nod to the high-risk pools concept as a bridge to 2014, when the law bans insurers from turning customers away on the basis of pre-existing conditions. But the Obamacare pools were poorly designed. It is clear from the language of the legislation, wrote Jim Capretta and Tom Miller in National Affairs in 2010, that these high-risk pool provisions were crudely cobbled together as an afterthought to Obamacares other, more sweeping reforms. Little press or public attention was paid to them either before or after the bill passed. As a result, these provisions are likely to exacerbate the problems faced by states and patients, rather than resolve them.
For one thing, Capretta and Miller point out, the pools are required to take all comers, so long as they have been uninsured for six months, and have a pre-existing condition. Most importantly, the pools are seriously underfunded, allocating $5 billion for 3.5 years of operation, which would only cover 375,000 of the 2 to 4 million people who are estimated to have these problems.
(Excerpt) Read more at forbes.com ...
Grab your wallet. Taxes are going to HAVE to go up, because all these people going on these new Medicaid plans are not going to be paying any taxes.
It is not insurance if you are required to pay for an event that is guaranteed to happen. Mandating the coverage of “pre-existing conditions” is like requiring a fire insurer to insure a house that is already burning.
Insanity. We have idiots in Washington.