Tag: healthcare

Finding out what’s in it: The fourteenth of the original twenty-three Obamacare state health insurance co-ops has announced it is closing shop.

I like this quote from the article:

Grace-Marie Turner, president of the Galen Institute, which advocates for free-market solutions in the health industry, said those who wanted the co-ops to be part of Obamacare believed “if they didn’t have a profit, they could charge less money, provide more service.” But she said the cascade of failures “is an indictment of the idealistic notion that you could put people in charge of billions of dollars who have little or no experience in the insurance industry.”

Across the country, the federal government loaned $2.4 billion to launch the co-ops [emphasis mine]

In other words, Obamacare was written and run by people didn’t have the slightest idea what they were doing, but they not only went ahead with it, but then handed out billions in taxpayer money to their friends, money that will never be returned. Pretty good gig, if you can get it!

Finding out what’s in it: Within three months of signing up for Obamacare more than 13%, or 1.6 million people, in 2016 have dropped coverage by not paying their premiums.

The AP story at the link is decidedly partisan in its tone, trying to make excuses for the disaster that is Obamacare. After proudly claiming that “the health law’s online insurance markets are now working smoothly,” it than is forced to note the following:

Enrollment has been lower than hoped for, and customers turned out to be sicker than expected. Some major insurance companies have cut back their participation, and 13 of 23 nonprofit insurance co-ops created under the law have folded. Premiums for 2017 are expected to be significantly higher.

Other than these minor details, Obamacare is wonderful! That’s why more than 1 in 10 quit paying their premiums within three months, probably because they simply can’t afford it. I wonder how many more decide to give up their health insurance as the year progresses. I suspect that by the time the open enrollment period arrives in November, the number who have dropped coverage will rise above 30% or higher.

Let me add one more thing: I also suspect that many of the people who drop Obamacare do so as soon as they’ve paid their taxes. This way, they pay the premium for as little time as possible, can demonstrate to the IRS that they have insurance and thus avoid the Obamacare mandate fine (or tax, depending the day you ask the Obama administration what it is), and then avoid paying the premium for the rest of the year. It’s called gaming the system, something that happens routinely when governments try to impose unwieldy and unaffordable rules to ordinary life.

Finding out what’s in it: Because of Obamacare, Blue Cross Blue Shield is losing money in states across the nation, forcing them to request rate increases of more than 50 to 65 percent.

If the federal government does approve these rate increases, expect most oif their customer base to vanish. If they don’t get these rate increases, expect them to abandon the market in those states.

So much for Obama’s promise that Obamacare would bend the cost curve downward, cutting rates by $2500 per family. Too bad no one told him his numbers were completely bogus and that Obamacare would increase everyone’s cost, and possibly destroy the health insurance industry. Oh wait… that was what those evil tea partiers and conservatives were saying.

Finding out what’s in it: Blue Cross Blue Shield has decided to stop selling health insurance through Obamacare in 2016.

“Based on current medical claim trends, Blue Cross is projecting a total loss of more than $500 million in the individual [health plan] segment over three years,” the insurer said in an emailed statement. The Blues reported a loss of $265 million on insurance operations from individual market plans in 2015. The insurer said claims for medical care far exceeded premium revenue for those plans

Gee, too bad no one said that this law was unworkable and was going to cause big losses in the health insurance industry. Oh wait… Didn’t most tea party and conservatives say that repeatedly? And loudly? And were ignored pointedly by Democrats?

Finding out what’s in it: Because of Obamacare health insurance premiums will go up again next year, as much as 60 percent in some cases.

This story isn’t really news. As predicted by every conservative and tea party person before Obamacare was passed in 2010, as Obamacare has kicked in and as it has forced insurance companies to pay for the healthcare of the sick who never paid for health insurance previously, they are forced to raise their rates to cover the costs. These increases are only the start. Worse, they are getting so burdensome that soon no one will be able to afford health insurance at all, which will make it impossible for that insurance to protect anyone.

Finding out what’s in it: New data strongly suggests that this week’s very bad jobs report is the result of Obamacare.

The economic recovery since 2008 is the weakest since World War II. More people are out of the workforce than ever in history. And the number of people doing part-time work has skyrocketed. Wonder why?

Analysts at Goldman Sachs have noticed this trend for some time, and put the blame on Obamacare. “The evidence suggests that the [Affordable Care Act] has at least modestly elevated involuntary part-time employment,” Goldman Sachs economist Alec Philips wrote in a research note published on Wednesday. Obamacare had the greatest impact on industries that traditionally do not offer strong health insurance coverage, such as retail stores and the hospitality industry. Phillips noted that these have the highest levels of involuntary part-time workers, and believes that the ACA has forced “a few hundred thousand” to take cuts in hours or accept part-time work as a result.

In other words, businesses have had either two choices to avoid the unaffordable costs of Obamacare: stop hiring, or hire only part-time workers. The result has been a stagnant economy where workers are either making less or nothing at all.

Fortunately, come November we will have a real choice: Pick a Democrat who was part of the effort to bring us this law, or pick a Democrat who says he has changed but keeps saying things that suggest othewise! Ain’t that just grand?

Because of the skyrocketing costs for healthcare due to Obamacare, it is now far cheaper to simply pay cash for many medical procedures, bypassing health insurance completely.

“This is one of the dirty little secrets of healthcare,” said Gerald Kominski, director of the UCLA Center for Health Policy Research. “If your insurance has a high deductible, you should always ask the cash price.”

Cash prices are intended for uninsured patients — and are frequently still much higher than insured rates. But cash prices for many common procedures have come down thanks to changing regulations and consumers increasingly being able to shop around for cheaper providers. Blood tests can be performed at CVS MinuteClinics and other pharmacies, for instance. Or as I reported a few years ago, MRIs are available from independent providers for as little as $300, whereas many hospitals will charge thousands of dollars.

The article’s main example is the case where the cost for blood tests, through insurance, was more than $80, while the cash price was only $15, and was still sufficient for the lab to make a profit.

Finding out what’s in it: Ohio’s Obamacare co-op announced this week that it is shutting down, making it the 13 of 23 co-ops to fail.

The company recorded an underwriting loss of $80 million in 2015 despite the $129 million in taxpayer-backed loans granted to the co-op by the federal government. InHealth Mutual was also placed under “enhanced oversight,” one of three tools the Department of Health and Human Services has to monitor co-ops in financial distress. When a co-op is placed under enhanced oversight, it means the company is consistently underperforming and allows the department to give detailed and more frequent reviews of the loan recipient’s operations and financial status. According to Columbus Business First, medical claims were coming in at a rate of $3 million per week and the company would have had to raise premiums by 60 percent in 2017 to keep up. If InHealth Mutual were to stay in business through the end of 2016, projections show that the company would have posted losses of $20 million.

Ohio’s failed co-op is added to the list of 12 co-ops that have already failed in Arizona, Michigan, Utah, Kentucky, New York, Nevada, Louisiana, Oregon, Colorado, Tennessee, South Carolina, and a co-op that served both Iowa and Nebraska. [emphasis mine]

Gee, it sure would have been helpful if, before Obamacare was shoved down our throats by Obama and the Democratic Party, there had been someone to point out that this Obamacare co-op model could not work financially and was bound to fail. Oh wait! Wasn’t that exactly what every conservative pundit and politician was saying back in 2010?

Obviously, this all means we must vote Democratic again, as they are the only ones who really know what must be done!

Finding out what’s in it: An IRS ruling from 2013, based on Obamacare and now going into effect, will force small businesses that offer alternatives to health insurances to drop those alternatives, or face hefty fines.

This ruling applies to businesses with fewer than 50 employees, who supposedly were going to be unaffected by Obamacare. Previously, they could offer their employees stipends to buy insurance themselves, as individuals. Obamacare bans this, requiring the business to either join Obamacare, which is too expensive, or face fines if they provide the stipends. So, the wonderful law that Obama and the Democrats passed instead leaves these workers with less than they had before.

Finding out what’s in it: Because of Obamacare, health insurance companies across the nation are requesting rate increases next year ranging from 8 to 65%, with the average increase running about 24%.

Too bad no one predicted this, except for every conservative think tank, every Republican politician, and the entire Tea Party movement. Luckily, President Barack Obama and the Democratic Party had our backs, and ignored those predictions. Otherwise, where would we be?

Finding out what’s in it: A Harvard research study has found that the program in Obamacare designed to improve hospital care has had no effect, and essentially is not working.

Or, to put it another way, in exchange for increasing regulations and cost, we have gotten nothing in return.

Gee, I seem to remember a lot of unwashed, uneducated rubes from the backwaters of flyover country saying loudly that these programs in Obamacare would not work, back in 2010. Too bad these brilliant Harvard experts considered themselves too smart to pay any attention.

Finding out what’s in it: The Food and Drug Administration has released its final regulations on how restaurants must write their menus as mandated by Obamacare.

The final guidance includes a 96-word definition of “combination meal” and a 163-word definition of “restaurant-type food.” The government also goes into when “Aunt Cora’s French toast breakfast” must have its calories listed and tells restaurants not to use plus or minus signs on their menus because they are too “confusing” to Americans.

But drawing the biggest criticism is the government’s definition of menu and strict rules for calorie labeling of toppings. The government considers a menu to be the “primary writing of the covered establishment from which a customer makes an order selection, including, but not limited to, breakfast, lunch and dinner menus; dessert menus; beverage menus, children’s menus, other specialty menus (such as catering), electronic menus, and menus on the Internet.” The full definition is 171 words. Merriam-Webster has a 12-word definition for menu.

The phrase “from which a customer makes an order selection” opened the door for coupons and advertisements to be included in the mandate. The FDA said calories must be listed on coupons if they have the restaurant’s phone number, and advertisements can be “considered a menu.”

There’s more at the link. Read it all to find out how deeply Obamacare is working to organize and regulate our lives.

But don’t worry. The same people who wrote the law are going to be running things after November. They will surely fix it!