Skip to comments.Bailing Out Health Insurers and Helping Obamacare (We all knew this was coming)
Posted on 01/13/2014 9:28:30 AM PST by Evil Slayer
Robert Laszewskia prominent consultant to health insurance companiesrecently wrote in a remarkably candid blog post that, while Obamacare is almost certain to cause insurance costs to skyrocket even higher than it already has, insurers wont be losing a lot of sleep over it. How can this be? Because insurance companies wont bear the cost of their own lossesat least not more than about a quarter of them. The other three-quarters will be borne by American taxpayers.
For some reason, President Obama hasnt talked about this particular feature of his signature legislation. Indeed, its bad enough that Obamacare is projected by the Congressional Budget Office to funnel $1,071,000,000,000.00 (thats $1.071 trillion) over the next decade (2014 to 2023) from American taxpayers, through Washington, to health insurance companies. Its even worse that Obamacare is trying to coerce Americans into buying those same insurers product (although there are escape routes). Its almost unbelievable that it will also subsidize those same insurers losses.
(Excerpt) Read more at weeklystandard.com ...
No one saw this coming.
Now let’s follow the money and see what the insurance companies are kicking back for 2016.
So, if you like government involvement in health care, keep showing up at the doctor's office.
I have yet to see a congressional Republican bill that repeals this part specifically.
Maybe it’s like that Obamacare bailout that congress got from Obama.
I am shocked .shocked I tell you
or find a doc that will work with for cash that way you can still have health care and not worry about insurance or the feds ( and yes I know at some point this will be against the law too)
Check out sections 1311-1312 of obamacate law that no one read,that’s where you find it,its in the law and always has been.So no one should be surprised,they voted for it
People who participate in this corrupt health care system should quit participating or quit complaining.
You don’t have any way of proving your so called fact. People live longer with vaccinations, clean water, good food, and safe housing.
The health system is not corrupt. In general it is filled with hard working people trying to make a difference in people’s lives.
What you should ask is why do people run to the doc when there is no good reason. Or perhaps even why go to the doc and then not follow directions on taking the meds given to you. Or even what do you expect from the doc? Do you expect the doc to be God and make everything perfect? Medicine has provided the US with a chance at long and healthy life. The deaths from childhood diseases, the horrible and painful deaths do to lots of diseases are no longer the norm. For that we should all be grateful
Easy for you to say but hard for the majority of folks to do. People who are ill, have a disease or condition that requires medical attention or surgery to maintain or correct their problems, can’t just boycott the system and not show up at the doctor’s office. Your so-called advice is worthless to those who need medical care or who are wealthly enough to pay cash for everything. Where or how else are they to get medical care?
I notice you have no alternative solution to your pronouncement. You are either young, healthy or both and/or haven’t yet had to stare severe suffering, death or bankruptcy in the face for not having the resources to pay for a life-saving treatment or be financially ruined. People like you don’t add one iota to the debate on healthcare and insurance in this country by throwing out ludicrous ideas into the discussion that are not realistic. You, like myself and many others, may not like Obama or big government or even the insurance companies, but your ego has gotten in the way of your intelligence. You are too clever by half for you own good, as the saying goes.
Insurance companies think they are in the cat-bird seat but eventually they will be destroyed by the “existing conditions” part of bammycare. The logical thing to do is dump insurance and pay cash for minor care. If you get really sick pick up an insurance policy, which they cannot refuse you, and leech the system.
Ok let me understand, under private insurance the insurance company is on the hook for all costs up to the policy limit. Now with the ACA the insurance company is on the hook for payments from the deductible ($5,000) to $45,000 plus 20% of the $205,000.
So why is the policy cost so much higher under the ACA?
But, but, but, I thought Ocare was supposed to SAVE us money because before, those costs of uninsured patients would no longer be passed on to us! You mean they’re STILL going to be passed on to us through paying for others’ subsidies, higher premiums-deductibles-copays, AND a government (TAXPAYER) bail-out of insurance companies?
I think Rubio introduced a bill to stop this bailout, but don’t know its status now.
There wouldn’t be income inequality in this country, if our beloved government would just give each man, woman and child $2 million dollars rather than wasting it on the crap they do. Now - that would stimulate the economy. Nope - we have to support other countries instead and waste it on stupid projects that don’t amount to anything. If zero wants income equality - this might be a good place to start.
My comment #10 should have read:
“Your so-called advice is worthless to those who need medical care or who are NOT wealthy enough to pay cash for everything.”
I had quadruple bypass open heart surgery with a valve repair two years ago. The costs were over $500,000. The VA and Medicare paid for it. These catastrophic events are what medical coverage is for. I, unlike you apparently, did not have a spare half a million dollars in spare change laying around the house to pay for it out-of-pocket. Thank heavens for my VA and insurance coverage or I would have been bankrupt.
What I meant to say: But, but, but, I thought Ocare was supposed to SAVE us money because, before, the costs of uninsured patients were passed on to us. Once EVERYONE was forced to have insurance, we’d only be responsible for ourselves. You mean the expense is STILL going to be passed on to us through paying for others subsidies, higher premiums-deductibles-copays, AND a government (TAXPAYER) bail-out of insurance companies? Color me shocked.
Oh? What do you think people did do for thousands of years?
And, how did they do?
"The days of our years are threescore years and ten; and if by reason of strength they be fourscore years, yet is their strength labour and sorrow; for it is soon cut off, and we fly away." Psalm 90:10.
Seventy, eighty years? Is it really all that better now?
All of them. Just like the drug companies
Yes, but how many lanes did Christie’s staff close on a New Jersey bridge for a week?
But, I don't want to debate all that. I just want to point out that we implicitly endorse the system by participating in it. People who participate should quit complaining about it. Those who really want to change the system should quit participating. If there are people who want to participate and complain, well, they should probably see a doctor for help with that conflict.
The goverment way. Break something it had no legal authority to delve into. Then fix it which makes it worse. Our founders knew plenty.
So is the bailout figured into the cost of O’rino care?
How unbelieveable? Obama is a corporatist, a soft fascist. Mussolini without the jingoism and the uniform.
In other words, this is single payer by stealth
Yes, fifty years ago, you would be dead right now. On the other hand, the best heart medical treatment available fifty years ago would have cost nowhere near $500,000, probably on the order of maybe $30,000 in 1964 dollars, $200,000 in todays dollars. Since then medicine has become an industry, where everyone involved expects to make a lot of money , even if if that is not their only or even prime motive for going into the field. Federal money has become an expected and major supplier of funding, and insurance companies have gotten very fat on it as well. Something of the same dynamic has happened in higher education. College presidents used to be scholars; now they are fund raisers.
Never forget that AARP signed onto this mess. They basically sold out HMO members. They did this to pimp for the insurance companies who sell their medigap policies thru AARP. AARP will make a cool billion dollars over the next ten years. I’ll never have anything to do with them.
“Seventy, eighty years? Is it really all that better now?”
can’t say about 78 but it sure is at 76!
If we don’t bail them out, the companies will collapse and usher in the single payer system.
This is a killer issue for the GOP created by the Left with Obamacare. The insurance industry is nominally supported by republicans, but the public’s appetite for bailouts just isn’t there. It’s all part of the Left’s grand plan to kill insurers and usher in single payer.
My plan too.
Any advice on which company to victimize if bad stuff happens?
Any company that played along. Anyone involved in creating the fustercluck.
Did you ever get the sense that no matter how this sham of Obamacare is exposed it won’t make one iotta of difference with the overall agenda of this administration.....except for news agencies gleaning a story for their followers and politicians getting face time?
No, I have more of this sort of sense:
That it is 1935, in Germany, and my last name is Goldstein.
In this one, liberal dem "little folk" should be pretty disgusted. They'll probably really be surprised that the goal of Obamacare was to help RINOs further enrich insurance companies.
Ted Cruz's message just might resonate with a whole lot of voters in 2016.
Why should I tear up my Medicare Part A card? I was forced to pay a Medicare tax when I worked to help pay for hospital costs now that I’m over 65. What I don’t have to tear up, because I never got them, is Medicare Part A or the pharmaceutical program for seniors.
Since insurance on the exchanges is a cost plus proposition costs are bound to go up.
I think hypochondriacs should be in their own pool (definitely not mine).
I am Jack’s total lack of surprise.
The health sharing ministries beckon! Owebamacare exempt!
works for me
Maybe the insurance companies should have a gun to their heads like the American citizen does with this POS law.
I don’t complain about the medical care I receive. I am grateful for it. And I participate because I would be dead if I didn’t. Your way of thinking, on the other hand, does not register on my scale as normal. Everything is not black or white or not at all. Real life is full of shades of gray with choices you have to make in between these extremes of the spectrum. Your bizarre way of looking at this issue is proof enough that there is only one person in this conversation that needs to see somebody for the “conflict” the medical system gives them. And its not me.
You’re entitled to your own opinion but I don’t have to accept your irrational, abnormal viewpoint. People who “participate” in life are not conflicted. Only those, like yourself, that choose not to, are.
Everyone in any industry, including the medical industry, do not expect to make a lot of money. Most people are good at their jobs and want to help others, as well as be successful in their careers. This country runs on millions of individuals trying to do their best to perform their jobs well and to be successful at it and get a ahead over time. Most that do, earn a good living doing it. There are always exceptions but they are just that, the exceptions, not the norm.
What industry do you work in where people don’t aspire to be good and/or successful and make good money? The reason medical care, housing, tuition, cars, etc. are so much more expensive today versus fifty years ago is due mainly to the inflation of our currency. The dollar becomes worth less and less over time and the number of dollars required to buy things keep getting larger over time.
And, I agree, government intervention in the private sector is responsible for most inflation and industries that don’t run efficiently with the government in their pockets. Overbearing government involvement and meddling in the private sector, is the cause of most ills in this country. But we have to deal the hand dealt to us until we can deal ourselves a better hand. You don’t avoid seeking medical care because you don’t like the system. Life is not that easy for most people.
Alot of money compared with the nuns of, say. eighty years ago, and even the small town GP of the same time. Thats because there is so more more money in the system. Sio maybe I should have said everyone thinks that lots of money is available. A good heart surgeon makes more in one year than my family doctor did in his whole career, and my doctor did well enough for a country boy, But money is a part of medicine just as it is in religion, where those on top can manage to live like dukes, however pure their hearts may remain. I also remember a talk I had with him, when I was about 14 and he was trying to persuade me to become a doctor, that no one worth his salt at any table if his only concern, or even his chief concern was about money. But there it is, lying there on the ground. like a heap of bananas in front of a bunch of chimps, and so often they can never get enough of the stuff.
You sound like someone jealous of people who make lots of money. I don’t begrudge anyone who is either wealthy or working to achieve wealth and success. It used to be what people aspired to in this country. But now the liberals make it sound like something bad. Maybe you could jump on the bandwagon for Obama’s latest distraction that he says he will focus on like a laser....income inequality. That way instead of rich and poor, everyone could be equally poor (except for the elite liberals, of course). Instead of equal opportunity to get ahead, we could just give up and go for the redistribution of wealth from those that have to it those that don’t, like yourself. Its called communism.
My doctor told me that wealth will always attract the mercenary. The fact is that people will pay any price to keep their health and save their lives. There is no more valuable thing on earth than ones life. If doctors grow wealthy, if the practice of medicine creates great wealth, then it will attract also the power-hungry politician. He will want to control both the wealth and the source of the wealth. A professional class that stand between him and his political clientele is one whose independence he will seek to diminish and to serve his interest.
Well, no sh*t Sherlock. You needed your doctor to teach you that? Tell me something I don’t already know.
This society is a capitalist, free enterprise system where everyone, even the poorest, have an opportunities to make it if they want it bad enough. Its not free, its not easy and it sure as hell aint’ equal. But name me any system in the world that’s better at giving its citizens the opportunity to get ahead as much as the next guy. Name just one. You can’t because there are none. This is not about equal outcomes. Its about equal opportunity. The problem with most folks, especially those that don’t achieve, is that they don’t want to work hard or do without to get ahead. They want everything now and resent the rich because they have what they themselves want but don’t have the fire in their belly to go after. They give up focusing on their goals and only see the obstacles in the way.
Instead of denigrating the wealthy, you should be admiring them. Most people look up to them and aspire to be them. I don’t know anyone except losers who aspire to be poor. Wealth will always attract those wanting some of it. Its the way the world turns. If you hate politicians, well join the crowd. Stand in line. They get rich off the backs of the taxpayers without working for it. But private sector people gets theirs from their own efforts. If you don’t like this system, move to that country that has a better one. When I was in college, we always said about America. “Love it or leave it.”