Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Unexpected Health Insurance Rate Shock-California Obamacare Insurance Exchange Announces Premiums
Forbes ^ | 5/24/2013 | Rick Ungar

Posted on 05/26/2013 11:24:17 AM PDT by HawkHogan

Yesterday, Covered California—the name given to the healthcare exchange created pursuant to the Affordable Care Act that will serve the largest population of insured citizens in the nation—released the premium rates submitted by participating health insurance companies for the three health insurance program categories (bronze, silver and gold) established by the Affordable Care Act, along with the catastrophic policy created for and available to those under the age of 30.

Upon reviewing the data, I was indeed shocked by the proposed premium rates—but not in the way you might expect. The jolt that I was experiencing was not the result of the predicted out-of-control premium costs but the shock of rates far lower than what I expected—even at the lowest end of the age scale.

So, why the all too popular narrative that Obamacare would mean unaffordable healthcare premium costs for so many Americans?

Setting aside the never-ending nonsense peddled by the opponents of healthcare reform, everyone from the Congressional Budget Office to numerous private actuaries have warned that premium shock could be expected to set in once the public began to see the reality of what Obamacare would mean to their pocketbooks. And yet, the only real jolt to the system being felt by these public and private prognosticators today is utter amazement over just how reasonable the California prices have turned out to be.

(Excerpt) Read more at forbes.com ...


TOPICS: Culture/Society; Front Page News; News/Current Events; US: California
KEYWORDS: california; fraud; govtabuse; healthcare; obamacare; pelosi; politics; tyranny
Navigation: use the links below to view more comments.
first previous 1-2021-4041-6061-8081-90 next last
To: All
Without going into actual included benefits, the four "metal" levels as they call it correspond to subscribers' financial exposure levels, like this

Bronze: 60%
Silver: 70%
Gold: 80%
Platinum: 90%

So your "financial exposure level" is the 100% minus the above percentage

Naturally, premiums are least for the bronze plans and most for the platinum plans.

21 posted on 05/26/2013 12:15:42 PM PDT by steve86 (Acerbic by Nature, not Nurture™)
[ Post Reply | Private Reply | To 19 | View Replies]

To: HawkHogan

I read an article the other day that stated.....the lowest plan right now if you look on the internet is $111 but under California’s new plan for all goes to $200. That would be quite an increase.
Me thinks this author is full of BS.


22 posted on 05/26/2013 12:18:30 PM PDT by sheana
[ Post Reply | Private Reply | To 5 | View Replies]

To: HawkHogan

Well, first, the writer says that Aetna has not been a player in the California individual insurance market. Well, my wife has an individual plan, and Aetna was quoting her coverage.

As to United Health Care, they do not write individual policies, at least not in CA. They write group policies, including Medicare supplemental policies via AARP.

As to the rates, I say baloney. She has an individual Blue Cross policy with a $5,000 a year deductible on medical and a separate deductible on drugs. The monthly premium is $488. We pay nearly $11,000 a year between premiums and deductible before she gets to collect one cent. The good news is she goes on Medicare in January.

Notice there is no detail of the coverage offered under these policies. Just wait until claims start coming in and then watch how fast the premiums rise.


23 posted on 05/26/2013 12:18:56 PM PDT by CdMGuy
[ Post Reply | Private Reply | To 1 | View Replies]

To: HawkHogan
California rates will be on the low end for the entire country. California is a HMO state, I looked over the rate announcements and almost all the plans being offered are HMOs. They will all have gatekeepers and be heavily managed, and limited network.

Plus yes the benefits on the silver and bronze plan are pretty limited.

24 posted on 05/26/2013 12:19:18 PM PDT by Conservative Actuary
[ Post Reply | Private Reply | To 1 | View Replies]

To: Oldexpat
All the numbers seem to be for a single person. What about a family of four?

How old is the insured?

25 posted on 05/26/2013 12:21:51 PM PDT by Mike Darancette (Plan "B" is now Plan "A")
[ Post Reply | Private Reply | To 3 | View Replies]

To: HawkHogan

If Obamacare is so great and wonderful, why did Congress exclude themselves from it?


26 posted on 05/26/2013 12:22:26 PM PDT by Tzimisce (The American Revolution began when the British attempted to disarm the Colonists.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: steve86

Thanks; saved it to HD folder. It’ll take some time to get thru and cross-reference with other states’ docs, if I can find them.


27 posted on 05/26/2013 12:23:02 PM PDT by carriage_hill (Guns kill people, pencils misspell words, cars drive drunk & spoons make you fat.)
[ Post Reply | Private Reply | To 19 | View Replies]

To: Oldexpat

Correction: it wasn’t an OMB report, it was CNS article:

http://cnsnews.com/news/article/irs-cheapest-obamacare-plan-will-be-20000-family


28 posted on 05/26/2013 12:26:03 PM PDT by carriage_hill (Guns kill people, pencils misspell words, cars drive drunk & spoons make you fat.)
[ Post Reply | Private Reply | To 3 | View Replies]

To: All

I guess that insurers are free to design their own benefit packages as long as the required (including immoral) benefits are included. Then the customer picks the insurer and the package (as has been done all along) and finally the metal level. This is in addition to completing the paperwork/online forms for the subsidy. This is going to be quite complicated for the consumer and I can see even a pretty high-info person like myself making a selection mistake and having to live with it for at least a year.


29 posted on 05/26/2013 12:26:44 PM PDT by steve86 (Acerbic by Nature, not Nurture™)
[ Post Reply | Private Reply | To 21 | View Replies]


Day 56
Please Contribute Today!
$618 to YELLOW!!

30 posted on 05/26/2013 12:26:48 PM PDT by RedMDer (You are Free Republic. There are no outside influences. Just us, all of us. Please donate today!)
[ Post Reply | Private Reply | View Replies]

To: Conservative Actuary
Plus yes the benefits on the silver and bronze plan are pretty limited.

I'm pretty sure based on reading the last few minutes that the metal level doesn't refer to what benefits are included but to what level of financial exposure the customer has.

31 posted on 05/26/2013 12:29:51 PM PDT by steve86 (Acerbic by Nature, not Nurture™)
[ Post Reply | Private Reply | To 24 | View Replies]

To: steve86

High out of pocket maximums for the lower tiered offerings.. Higher maximums than you see in most bottom end current plans. Imagine for the express purpose of having “teaser” rates.


32 posted on 05/26/2013 12:31:22 PM PDT by Arthurio
[ Post Reply | Private Reply | To 21 | View Replies]

To: HawkHogan

It is a sucker rate. Next year it will zoom


33 posted on 05/26/2013 12:32:51 PM PDT by bert ((K.E. N.P. N.C. +12 .....Obama Denies Role in Government)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Conservative Actuary

Meant to add that PPO vs HMO seems fairly evenly divided to me. Depends somewhat on the region.


34 posted on 05/26/2013 12:35:03 PM PDT by steve86 (Acerbic by Nature, not Nurture™)
[ Post Reply | Private Reply | To 24 | View Replies]

To: steve86

That is what I meant by the benefits. The metal levels set up a specified actuarial value, the individual insurance plan then chooses the specific benefits that satisfy that metal level.


35 posted on 05/26/2013 12:36:32 PM PDT by Conservative Actuary
[ Post Reply | Private Reply | To 31 | View Replies]

To: Arthurio
Agree.

Here are the ten "essential" benefits all the individual and small groups plans must include:

Ambulatory patient services
Emergency services
Hospitalization
Maternity and newborn care
Mental health and substance use disorder services
Prescription drugs
Rehabilitative and habilitative services and devices
Laboratory services
Preventive and wellness services chronic disease management
Pediatric services

36 posted on 05/26/2013 12:38:24 PM PDT by steve86 (Acerbic by Nature, not Nurture™)
[ Post Reply | Private Reply | To 32 | View Replies]

To: HawkHogan

Looks like Co Pays and annual out of pocket charges are based on income. This will make sure that waiting rooms are always full of low income folks.


37 posted on 05/26/2013 12:38:52 PM PDT by Mike Darancette (Plan "B" is now Plan "A")
[ Post Reply | Private Reply | To 1 | View Replies]

To: WilliamofCarmichael

According to the comments, the individual fee and the subsidies (which we pay) add up to $1200 per month or so. Much higher than before obamacare. While it is true the individual pays less out of pocket, overall costs actually go up. For some reason, this is not mentioned in the article. Can you say agenda?, I knew you could.


38 posted on 05/26/2013 12:39:03 PM PDT by RetiredNavy ("Only accurate firearms are interesting")
[ Post Reply | Private Reply | To 7 | View Replies]

To: steve86

Even “gold” is at 4k per year out of pocket maximum. Most current Cadillac offerings are at around $500 to $1000 out of pocket maximum.


39 posted on 05/26/2013 12:43:24 PM PDT by Arthurio
[ Post Reply | Private Reply | To 36 | View Replies]

To: HawkHogan
Seriously, do these people live in an alternate universe?

Well...duhhh!

40 posted on 05/26/2013 12:44:13 PM PDT by Eagles6 (Valley Forge Redux)
[ Post Reply | Private Reply | To 1 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-4041-6061-8081-90 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson