AFFORDABLE HEALTHCARE ACT

[Stonewall D]

It just occurred to me, once people lose their health insurance provided by their employers, will they ever be able to get it back, even if the law is repealed?

I remember the president saying that if people have Obamacare and their employers don't have to provide health coverage, the employees will get pay increases to make up the difference. That was one of his "benefits"- that companies would save costs by not having to provide health insurance and it would lead to more jobs. Companies would have more money to hire more people. Great, the government creates jobs by regulating companies.

 

[StonesRiverSpid]

Death Spirals are coming. The "death spiral" starts when the young and healthy do not sign up, because it is too expensive. Obamacare assumes that around 40% of the new enrollees will be the young, ages up to 34. The policy costs for this age group under Obamacare will be higher. If the young and healthy do not sign up, at least initially, insurance companies will have to raise rates on everyone in 2015. Those rate increases will begin around mid-year, 2014. More people will be left out of the insurance pool. This will result in only the really sick signing up, which means the insurance companies will incur substantial losses, which will result in higher rates, which means only the sick will sign-up. The link is to a disclosure by Humana that young people are not signing up.

Humana 8-k disclosure

 

[StonesRiverSpid]

Here is a Wall Street Journal article about the death spirals. They call it adverse selection. If the young and healthy could not afford health insurance before, how can they afford it now?

Wall Street Journal Article

 

[WebSpinner]

certainly one of the pillars of the foundation of insurance is underwriting. those trained look at a risk and determine if they wish to write a person, a building an automobile, etc. and if so at what cost. this bill says that is unfair and eliminates underwriting the risk. this is a recipe for complete stupidity and financial disaster.

 

[Anachnoid]

Perhaps the health insurance companies should have been more willing to share the guidelines in their underwriting. A building or auto insurance is pretty easy to underwrite and for the consumer, to shop. I'm not aware of any healthy person discount for health insurance. A sprained ankle from a work out, results in a level 2 premium. Doesnt matter if, like Adm Homer, you can run a marathon and have done so for the past 30 or so years. However for the Adm- they would probably have him at a level 3 as certifiably insane for running those marathons. If you're healthy the health insuance companies are breatheaters as they suck premium money from you, yes I understand, for risk. I recently discovered that I could get a prescription at a reduced amount, less than under my insurance company. However, the pharmacy told me they couldnt honor the lesser price because of their negotiated price with the ins co. I recently received a lab bill for annual tests. There is no pre-asking for prices, how are amounts determined ....and then the ins "negotiated discount". Yea, well how about 'splainin' that to me. I'm not saying the AHA is the answer but no one came up with anything since the Clintons attempted reform in 1994. And I really have no hope for anything better.

Hopefully a start

 

[WebSpinner]

not saying insurance is problem free, only that the majority of americans were covered by their employer, no pre-existing conditions there, or by the government, medicare or medicaid or the VA , military, etc., again no pre existings. not sure what the heck you are talking about and you certainly do not have to buy prescriptions with your insurance, my wife does not, i don't take any. there are options out there to have tests and other things done where you can cut your costs in half of more, have to shop around. probably the best thing to do is eliminate health insurance completely, make everyone shop for treatment and make providers have to work for our business, not just sit back and have 90% of their income guaranteed by the insurance industry or the government. the bottom line is, things will be much worse now than ever and much more expensive so not sure why so many bought into this scheme.

 

[StonesRiverSpid]

Moodys has just downgraded the outlook for health insurance providers. The destruction of the health insurance industry is beginning. Obamacare will destroy the health insurance industry, because every step that this administration has taken to grant quick fixes has undermined its own law. From the article "the Obama administration has implemented a string of unilateral changes and delays to the healthcare law ..." Look for more down grades.
This post was edited on 1/23 10:01 PM by StonesRiverSpid

Moodys Downgrades Health Insurers

 

[StonesRiverSpid]

This article shows that of the 2.2 million the Obama administration claims have signed up, a very small percentage are uninsured. From the article as many as 90% of new sign-ups previously bought their own coverage or were enrolled in employer-backed plans..."

Assuming the 2.2 million is correct, most of those signing up had private insurance that was taken away from them by Obamacare. The rest, less than 750,000, did not have any health insurance.

This post was edited on 1/23 10:15 PM by StonesRiverSpid

We still have uninsured