T Nation

Obamacare Raise Claims Cost 32%

Insurance companies will have to pay out an average of 32 percent more for medical claims on individual health policies under President Obamaâ??s overhaul, the nationâ??s leading group of financial risk analysts has estimated.

Thatâ??s likely to increase premiums for at least some Americans buying individual plans.

The report by the Society of Actuaries could turn into a big headache for the Obama administration at a time when many parts of the country remain skeptical about the Affordable Care Act.

While some states will see medical claims costs per person decline, the report concluded the overwhelming majority will see double-digit increases in their individual health insurance markets, where people purchase coverage directly from insurers.

The disparities are striking. By 2017, the estimated increase would be 62 percent for California, about 80 percent for Ohio, more than 20 percent for Florida and 67 percent for Maryland. Much of the reason for the higher claims costs is that sicker people are expected to join the pool, the report said.

The report did not make similar estimates for employer plans, the mainstay for workers and their families. Thatâ??s because the primary impact of Obamaâ??s law is on people who donâ??t have coverage through their jobs.

The administration questions the design of the study, saying it focused only on one piece of the puzzle and ignored cost relief strategies in the law such as tax credits to help people afford premiums and special payments to insurers who attract an outsize share of the sick. The study also doesnâ??t take into account the potential price-cutting effect of competition in new state insurance markets that will go live on Oct. 1, administration officials said.

At a White House briefing on Tuesday, Health and Human Services Secretary Kathleen Sebelius said some of what passes for health insurance today is so skimpy it canâ??t be compared to the comprehensive coverage available under the law. â??Some of these folks have very high catastrophic plans that donâ??t pay for anything unless you get hit by a bus,â?? she said. â??Theyâ??re really mortgage protection, not health insurance.â??

A prominent national expert, recently retired Medicare chief actuary Rick Foster, said the report does â??a credible jobâ?? of estimating potential enrollment and costs under the law, â??without trying to tilt the answers in any particular direction.â??

What about the Children?

Obamacare was written by the insurance companies to benefit them. This is the reason it was passed.

We have needed a health care overhaul for forever. With Obamacare we still do.

a broken system gets even more broken. Sigh

[quote]Zeppelin795 wrote:
Obamacare was written by the insurance companies to benefit them. This is the reason it was passed.[/quote]

I thought Democrats said insurance companies were evil and for profit only ?

[quote]MaximusB wrote:

[quote]Zeppelin795 wrote:
Obamacare was written by the insurance companies to benefit them. This is the reason it was passed.[/quote]

I thought Democrats said insurance companies were evil and for profit only ?[/quote]

Why would Democrats listen to the bad insurance companies and ram that crappy law down our throats. If it is so bad why not repeal the law, and start over again?

That is a question for Zep. Just piggy backing on your question.

[quote]MaximusB wrote:

[quote]Zeppelin795 wrote:
Obamacare was written by the insurance companies to benefit them. This is the reason it was passed.[/quote]

I thought Democrats said insurance companies were evil and for profit only ?[/quote]

Fuck both sides on this issue. Republicans were largely for a lot of the stuff in Obamacare, until they realized a Democrat was also going to be for that. Can’t be having that shit, time to fight everything tooth and nail even if it was something they were arguing for just yesterday. We won’t help out on anything because we only care about making sure we are against whatever he wants. For fucks sake like Paul Ryan said the bill is filled with provisions Republicans have been pushing for. But instead of making that work we need to play politics.

Democrats passed a monstrosity of a bill with seemingly little thought because health care needed something done to it and damn it while you’ve got some power might as well pass something while you can and try to fix it later. Which is fucking retarded. And instead of making that work…(you guessed it) we gotta play politics. After all you can’t pass up chances to do big shit while you got all the cards. Republicans will have all the cards again soon and they will do all the shit they want to do.

A process that both sides SHOULD have worked on because our system is shit (still is horrible, and ain’t getting better) became something (as usual) that both sides could fuck off on and play politics.

And yet people continue to pick a political jersey because it’s way more fun to play the game when you got a letter than when you don’t.

[quote]dmaddox wrote:

[quote]MaximusB wrote:

[quote]Zeppelin795 wrote:
Obamacare was written by the insurance companies to benefit them. This is the reason it was passed.[/quote]

I thought Democrats said insurance companies were evil and for profit only ?[/quote]

Why would Democrats listen to the bad insurance companies and ram that crappy law down our throats. If it is so bad why not repeal the law, and start over again?

That is a question for Zep. Just piggy backing on your question.[/quote]

Oh I am agreeing with you, I just find it mind boggling that people (low information voters) actually believed that premiums would not go up “one dime.” People actually fell for that bullshit !

Who could have predicted that all the boomers would get sick before they die ?