- Earlier this month Kaiser Health News reports that Covered California exchange projects that ObamaCare premiums may rise on average 8% next year — the projected rate increase in California included in the exchange’s annual proposed budget — which are evidently on the rise in order to pay bureaucrats inflated salaries and huge bonuses.
Flashback: Remember Obama’s Grandiose Promises Made how Govt Managed Healthcare was Going to Lower Premiums and be the Greatest Thing since Sliced Bread
(WaPo) Hillary Clinton takes to Twitter cheering ObamaCare as Affordable Huh??? – Obama promised the ACA would lower premiums by $2500 for a typical family per year however even Obama’s former Medicare Chief Marilyn Tavenner who ran ObamaCare has forecast ACA premiums will rise faster next year.
As they do, young healthy people will be forced out of the ObamaCare exchanges and the only people that will be able to afford ObamaCare will be high risk patients who qualify for federal subsidies (government handouts) and without enough young healthy people in the exchanges to pay for the less healthy and sick ones, taxpayers will be stuck with more-and-more of the costs over time – a situation that is unsustainable in the long run.
(Catholic Online) Insurance companies are telling Obama and the American people, they must raise premiums, others are pulling out of the ObamaCare Exchanges” just this week we’ve learned that United Healthcare, the biggest health insurer in the U.S. is pulling out of most of the so called marketplaces in 2017 — this is more proof that ObamaCare, rammed down our throats by the Democrats that controlled Congress during the first two years of Obama’s presidency, haphazardly designed a system destined to fail.
Gone are the day’s of Obama’s grandiose promises that ObamaCare would drive down healthcare costs by $2500 a year — where oh where are those promised savings? I digress.
Insurance companies are complaining they cannot generate profits while treating patients–businesses often change what markets will bear and because health care is related to survival, people will pay premium costs. However without meaningful competition, regulation and government collusion, prices naturally rise to a premium cost that prices out those at the bottom and may bankrupt the middle.
Compelling the middle-class to make installments in their pending bankruptcies — Many Americans have realized there is nothing “Affordable” about the Democrat passage of the so called ‘Affordable Care Act’ – On the 10 November, I wrote here that ObamaCare deductibles were rising faster faster than premiums or wages and that a majority of the co-ops were failing and at significant cost to the taxpayers.
Hopefully the rallying call this year during the presidential race will be to repeal and replace this monstrosity called ObamaCare with health insurance which Americans can purchase across state lines (as they do life and car insurance today) which will drive competition, lowering insurance premiums and the sky-high deductibles which have resulted when government meddles in the marketplace.
Hillary Clinton: Remember When Obama Promised that ObamaCare Would Drive Down Healthcare Costs by $2500 a Year
Where are Those Promised Savings?
(AP) Walt Whitlow a self-employed remodeling contractor from Texas was receiving treatments for cancer when he received an unwelcome surprise–his ObamaCare subsidy got slashed which now meant that his ObamaCare premium quadrupled and his deductible went from $900 to $4,600
Hundreds of thousands of people are losing their ObamaCare subsidies and/or even their healthcare coverage, when they get tangled in a web of paperwork problems about income, citizenship and taxes.
Don’t you just love more-and-more government bureaucracy — Hillary Clinton and Socialist Bernie Sanders want to expand government for all. Good Grief…
Some people are dealing with serious illnesses like cancer. Ana Grando was scheduled for breast reconstruction surgery when she was notified that her ObamaCare coverage would be cancelled because of questions about her legal immigration status. — Legal Aids was able to get that matter cleared up but Grando’s ObamaCare financial subsidy was suspended.
Lynn Herrin became irritated when she received a bill from the IRS for $700 after they determined she received to large of an ObamaCare subsidy — One of about 2 Million Americans who received bills from the IRS of an average of $860 to repay ObamaCare subsidies.
Since Herrin was already having difficulty finding a doctor that would even accept ObamaCare she cancelled the health insurance plan. Subsequent to her diagnoses of oral and neck cancer, her medical costs depleted the families life savings of about $70,000 for cancer treatments.
The Fed’s have confirmed ObamaCare has terminated some 470,000 people that had enrolled in the ACA last year because of unresolved issues involving documentation, immigration status and citizenship.
When there are documentation issues the Fed’s claim, consumers have about 3 months to straighten out the snafu. (When has anyone been able to straighten out anything with federal bureaucrats in three months?)
Walt Whitlow, the Texas cancer patient said that he was blindsided. Whitlow requested that Healthcare.gov contact him by mail, he only found out that his ObamaCare subsidy was slashed when his doctor’s office called his family. Not only was he now on the hook for the full unsubsidized premium costs but now he was facing far higher co-pays and a $4600 deductible too.
“It kind of blew my mind,” said Whitlow, he said that he submitted bank statements to prove his income but apparently that was not sufficient.
Grando a legal immigrant from Brazil, lives with her daughter in North Carolina and under ObamaCare legal immigrants are entitled to obtain healthcare coverage but the paperwork battle first over her immigration status and then over her income was “a huge stress” she said. The family spent ‘hours’ on the phone with bureaucrats from Healthcare.gov as Grando was preparing for her breast reconstruction surgery.
Isn’t government managed healthcare just peachy?
More here from Latino Fox
(Kaiser) Since 2010 Deductibles for All Workers Have Risen Almost 3X
as Fast as Premiums and About 7X as Fast as Wages & Inflation
- Flashback: Remember when Obama promised that the ACA would drive down healthcare costs by an average of $2500 a year — Where are those promised savings?
Since 2010 both the share of workers deductibles and the size of those deductibles have increased sharply. These two trends result in a 67% increase in deductibles since 2010 much faster than the rise in single premiums (24%) and about seven times the rise in workers wages (10%) and general inflation (9%)
“With deductibles rising so much faster than premiums and wages, its no surprise that consumers have not felt the slowdown in health spending,” Kaiser Family Foundation President/CEO Drew Altman said.
In related ObamaCare news, The Wall Street Journal reported Monday, that a majority of ObamaCare insurance co-ops (12 of 23) have now failed and their $1.24 Billion of taxpayer loans have all but vaporized. As more fail, nearly a million Americans may lose insurance coverage as the contagion from their failures spreads.
More here from Washington Free Beacon
While avoiding the double-digit premium hikes that have been proposed in many other states, many consumers may not be so celebratory when they find out what is happening to their deductibles which are already sky high.
Particularly hardest hit are people seeking the lowest cost ‘bronze-level’ coverage. In 2016 these plans will carry a deductible of $6,000 (an increase of $1,000 from 2015) and a separate drug deductible of $500 — After the deductible is met bronze coverage will cap R/X costs at $500 mo the combined $6,500 deductible will then be 30% higher than in 2015
Covered California Executive Director Peter Lee said in a conference call that in 2016 a visit with a Specialist (with a $90 co-pay) will be allowed as part of three partly covered physician visits, left unsaid is that low income individuals facing a $6,500 deductible could easily be swamped with debt after getting limited benefits before the deductible is met. — This is perhaps ObamaCare/Covered California Achilles’ heel given that enrollment has badly lagged expectations.