'Obamacare' saves consumers nearly $1.5 billion

L.A. Times ^ | 12/5/12

[Nachum]

Washington — Consumers saved nearly $1.5 billion in 2011 as a result of rules in President Obama´s healthcare law that limit what insurance companies can spend on expenses unrelated to medical care, including profit, a new analysis shows. Much of those savings — an estimated $1.1 billion — came in rebates to consumers required because insurers had exceeded the required limits. The study by the New York-based Commonwealth Fund also suggests that the Affordable Care Act forced insurers to become more efficient by limiting their administrative expenses, a key goal of the 2010 law. In some cases, insurers passed savings on to consumers

[fkabuckeyesrule]

****My Kaiser bill went up 11%****

My employer is dropping Kaiser.

[mylife]

I imagine BC/BS won’t be an option next year for us.

[q_an_a]

the problem is that teachers in high scholls will make their students read this and they will get test questions about the savings - we are lsot because this pap will be ingrained in the mush minds...teachers.

[Obama_Is_Sabotaging_America]

Illegal aliens welcome this news.. And the many millions more who enter illegally to get their free stuff!!!

[Revolting cat!]

That’s how the tyrants work. Hand in hand with the media. Your insurance is going up? Don’t you read the news? Everybody’s is going down. You’re alone, buster.

[tomkat]

             

             

[WP Lonestar]

Just another example of the propagandist pisses on our legs and telling us it’s raining

[WP Lonestar]

Just another example of the propagandists pissing on our legs and telling us it’s raining

[WP Lonestar]

Just another example of the propagandists pissing on our legs and telling us it’s raining

[Imperialist]

Ouchier? Sorry... Not only are the premiums up, but things covered are reduced, deductible is up, copays are up...

This situation is beyond stupid...

[annieokie]

Glad you liked it, she is good. Don’t know if I was that receptionist I would have had that much control. In fact, I know I wouldn’t.

[TigersEye]

My mother’s Medicare supplemental insurance went up 17% last year and another 6.8% on top of that increase this year. Thanks for the savings! (a holes)

[Imperialist]

“most of them still won’t listen”

So true, the O voters are so clueless.

Don’t forget to add in inflation (there is no inflation /sarc) and whatever the heck gasoline will spike to shortly (election over)... Also the real possibility of losing the mortgage interest deduction...

[Grams A]

They do this at my grocery store all the time. Black check-out clerk told me last night that I saved $24.85 - I said no, I spent $62.30 for what used to cost about $24.85. She absolutely had no comprehension. Guy behind me said, “Might as well forget it, she’ll never understand.”

[EDINVA]

In addition to the insurance premium increase, our docs are now part of a ‘boutique.’ Medical boutiques run an additional $1500/year!

[newzjunkey]

It saved me money by pricing me out of the health insurance market entirely.

I still have no coverage. It's unclear what my employer will do.

[Imperialist]

So you’re saying you really can feel all these savings the article mentions? /sarc on

Boutiques huh, hadn’t heard of that junk yet... Sorry to hear that...

[JediJones]

The healthcare law attempts to address this by requiring insurers to spend at least 80 cents of every dollar they collect in premiums on medical care, rather than on administrative expenses

Isn't the purpose of an insurance company to save up money so that they can have extra to spend when medical needs rise in the future? If a company spends lower than average in payouts in a given year and wants to save that money for a future, potentially more expensive year, it sounds like they can't do that according to this law. So when they have an expensive year and have less savings to tap into because of these mandated refunds, premiums will have to go up even more.

[JediJones]

As usual with the MSM you have to look way at the bottom of the article to find a fact or two that counters the Obama worshiping premise.

There is substantial evidence that premium increases are driven largely by rising medical costs, not profit-taking. And insurance companies continue to vigorously oppose the standards.

"The MLR completely ignores the real driver of premium increases," said Robert Zirkelbach, a spokesman for America's Health Insurance Plans, the industry's Washington lobbying arm.

[moviefan8]

Your comment reminds me of the club card at grocery stores. The store just raised the prices a lot and probably are still making money by someone using the club card.