Surprised No One's Talking About the Big Obamacare Rate Hike Requests???

Okey-Dokey

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This is one of the biggest reasons I stopped being self employed a few years ago. Just saw what was coming and wanted employer health insurance.

That aside, the economy seems to be doing poorly in OK. Can't quite put my finger on it but when I see lots of vacant buildings for lease in business districts and I hear people chatting about it things aren't good. Upping insurance costs by that amount will be devastating to an already frail economy (nation-wide included). So a 55% jump in cost from 2 years ago? Dang.

I still remember when obama said the average price of health care for a family would go down about $2500 per year..... Mine has gone up $2800 per year in the last two years. As a self employeed person that kind of stings.
 

John6185

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It's all tied to redistribution of wealth. It should make all of us feel better to support the people who supposedly can't help themselves but oddly help themselves to all sorts of taxpayer subsidies.
 

TerryMiller

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Wasn't there also some issue with the ACA being written so that the insurance companies would get "assistance" from the government with paying for the medical treatments and such? If the insurance companies are paying out a lot more than they are taking in, perhaps the government IS providing that additional assistance?
 

JD8

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Wasn't there also some issue with the ACA being written so that the insurance companies would get "assistance" from the government with paying for the medical treatments and such? If the insurance companies are paying out a lot more than they are taking in, perhaps the government IS providing that additional assistance?

No. The ACA was written for the consumer to get gov. assistance with paying their premium.
 

Hobbes

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Wasn't there also some issue with the ACA being written so that the insurance companies would get "assistance" from the government with paying for the medical treatments and such? If the insurance companies are paying out a lot more than they are taking in, perhaps the government IS providing that additional assistance?

Yes, it's called a risk corridor.

HHS collects funds from plans with lower than expected claims and makes payments to plans with higher than expected claims. Plans with actual claims less than 97% of target amounts pay into the program and plans with claims greater than 103% of target amounts receive funds.
Payments do not have to net to zero.

More here
http://kff.org/health-reform/issue-...sk-adjustment-reinsurance-and-risk-corridors/
 

Hobbes

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When I'm wrong I'm wrong, never even heard of this. Wonder what's gonna happen when it's temp status expires?
It's gonna be a mess.

It's my understanding that the large hikes requested in the OP are on the part of the insurance companies who took on more risk and as such they would be granted relief from the companies that took on less.
The actual rate hikes that the consumer sees would be much less, probably high single digits.

The obvious flaw in this is that every insurance company is incentivized to cook the books a bit and report larger losses, or smaller profits, than they really are in order to gain reimbursement.
Next comes the federal probes and indictments for health care fraud is my guess.
 

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