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

This site may earn a commission from merchant affiliate links, including eBay, Amazon, and others.

Okey-Dokey

Sharpshooter
Special Hen
Joined
Dec 20, 2014
Messages
269
Reaction score
0
Location
Oklahoma City
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

Sharpshooter
Supporting Member
Special Hen Supporter
Joined
Oct 27, 2012
Messages
9,308
Reaction score
9,606
Location
OKC
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

Sharpshooter
Special Hen
Joined
Jun 4, 2009
Messages
18,619
Reaction score
18,200
Location
Here, but occasionally There.
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

Sharpshooter
Supporting Member
Special Hen Supporter
Joined
Jun 13, 2005
Messages
32,828
Reaction score
45,804
Location
Tulsa
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

Sharpshooter
Special Hen
Joined
Mar 5, 2008
Messages
8,738
Reaction score
749
Location
The Nations
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

Sharpshooter
Special Hen
Joined
Mar 5, 2008
Messages
8,738
Reaction score
749
Location
The Nations
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.
 

Latest posts

Top Bottom