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ollie2655
Senior Contributor

Re: what a crock

gov has ben forcing private cos to raise rates for years --get real and stop lieing

Husker-J
Senior Contributor

How can it be greedy insurance companies?

Didn't Obama sign a law, requiring at least 80% of all premiums paid, to actually go to the cost of health care for their policy holders, ending the gouging by the companies?

If the premiums are going up, how can it be from the insurance companies pocketing more of the premiums?
If that is happening, then the law is ineffectual.

 

No, I think the premiums are going up, due to the cost of coverage going up.   If it is not, expect a flood of charges coming against insurance companies in violation of the law.

Husker-J
Senior Contributor

Re: Re:Agreed!

I went to the Obamacare insurance cost calculator, which estimates one's out of pocket costs under Obamacare.

 

http://kff.org/interactive/subsidy-calculator/

 

I wanted to figure the 'average' family income, so I went on Wiki.   Median income is $29,056, mean income is $32,195.

 

http://en.wikipedia.org/wiki/Median_household_income

http://en.wikipedia.org/wiki/Mean_household_income

 

I used $30,600 for the income, which is about halfway in between the two, to try to describe a 'typical' family income.

 

I ran the numbers through, and for a family of 4, I do belive that they would pay less under Obamacare, if they had the Bronze plan, quite possibly $2500 less, depending on what State they lived in.   I ran the numbers through for Nebraska, and it comes out fairly close to that $2500 cheaper than what I am paying (for out of pocket).  Upgrading to the silver plan, which seems to have the out of pocket co-pay pretty close to what my plan has now (within 10%) there would be an out-of-pocket savings of maybe $2K.

 

The above estimates, are assuming that the Keiser Foundation website has the proper algorithms for the premiums and subsidies.  I will note that the actual cost of insurance is notably higher, but the subsidies cheapen it down.


I ran the numbers through a couple months ago, and the costs were much higher.   Either the formula has changed a bit, or the subsidies have changed, or something.   I didn't save the screen shot of my original estimate to remember the details, only that to get the premiums down to within 10% of what I was paying now, I would have had to have 3X the co-pay
Putting in my 2012 income, I actually would save some money on the exchange, if the current Keiser estimate is correct, for the Obamacare plan closest to what I have now.

 

Try running your numbers through the Keiser link, and see what you get.   You can do it anonymously.   All you need is an estimated income, number of family members, age, State you live in (or you can do a USA average) and whether there are smokers in the house.

 

 

schnurrbart
Veteran Advisor

Re: How can it be greedy insurance companies?

So, why are the costs of coverage going up? Have the drs and medical workers started charging more? I don't think that would make the coverage cost go up because even though the dr might up his fees 10-20%, the ins. cos. still will only approve a certain amount of that and the dr either accepts it or it go to the patient so the insurance cos. don't see a rise in the cost for coverage.
BA Deere
Honored Advisor

Re: How can it be greedy insurance companies?

Schurrbart, the ACA is about "cost shifting" not one thing a out cost control I know I know I know you Dems were sold a bill of goods that "the 39 million without ins won't have to go to the ER and we'll save all kinds of money" that's bull hockey and if you guys were gullible enough to believe it, God help you. ER costs are mostly "fixed costs" there's the same brick and mortar the same staff and equipment whether they see 5 or 50 per night. As "generous" as obamacare is with subsidizing hospitals have no reason to lower costs. With the extra clowns now being covered and standing in line to get their toe nails trimmed and watch the pretty nurses bending over costs will go up and quality of care will go down. I don't think its some surprise the the ACAs authors, more government money will be thrown at it to make the "brick fly" there Don Kraft's"single payer" will come in by fiat.

Husker-J
Senior Contributor

Re: How can it be greedy insurance companies?

In my opinion, the costs are going up to insure people, because the companies will be forced to cover people with pre-existing conditions with no limits on spending (and charge everyone in the pool the same rates) , plus will have to pay for a bunch of other stuff that people otherwise would pay out of pocket.  Not only that, but they will have a whole new bureaucracy to shuffle paperwork around for.

 

I ask you this question:

If BY LAW, they can only charge 20% above actia; coverage costs, how can policies be going up by leaps and bounds (in some cases almost triple), if it is not due to increased costs of coverage?   If the insurance company doubles someone's rates, they can't pocket the difference, the law says they have to give it back.

schnurrbart
Veteran Advisor

Re: How can it be greedy insurance companies?

Where do you get the figures that shows price increases of 2-3 times? Did you just hear cruz or some other tea party guy say it?
schnurrbart
Veteran Advisor

Re: How can it be greedy insurance companies?

I've never read a single positive thing you have ever posted and this is no different. You really should hope it does work. I personally think it would if the tea party fools would just evaporate. I don't believe your doom and gloom. It is just your opinion and i have one of those also and it is just as valid as yours.
r3020
Senior Advisor

Re: How can it be greedy insurance companies?


@schnurrbart wrote:
Where do you get the figures that shows price increases of 2-3 times? Did you just hear cruz or some other tea party guy say it?
President Obama's home town paper.

 

snip-

Those who have managed to browse the marketplace have often been hit by sticker shock. Take Adam Weldzius, a nurse practitioner and single father from Carpentersville. He sought the same level of coverage on the exchange as he and his 7-year-old daughter have now, with the same insurer and the same network of doctors and hospitals. At best, Weldzius found, his monthly premium of $233 would more than double. If he chose a plan priced at the same level, the annual deductible would be $12,700, more than three times his current $3,500 deductible.

 

http://my.chicagotribune.com/#section/-1/article/p2p-77808576/

Samnospam
Advisor

Re: How can it be greedy insurance companies?

The law serves up the public like a Christmas goose to the insurance companies but oh its the greedy insurance companies fault.