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Obama-Care Will Increase Claims Costs By 32%

From an unfazed Associated Press:

Study: Health care overhaul to increase claims costs by 32 percent

March 27, 2013

Medical claims costs — the biggest driver of health insurance premiums — will jump an average 32 percent for Americans’ individual policies under President Obama’s overhaul, according to a study by the nation’s leading group of financial risk analysts.

The report could turn into a big headache for the Obama administration at a time when many parts of the country remain skeptical about the Affordable Care Act. The estimates were recently released by the Society of Actuaries to its members.

"A big headache for the Obama administration? Wouldn’t you think that the AP might mention that Obama constantly promised that insurance rates would go down by $2,500 a year, once Obama-Care became law?

To be fair, however, the AP does mention this in passing, but in the vaguest terms, in the 15th paragraph of this article. (See below.)

While some states will see medical claims costs per person decline, the report concluded the overwhelming majority will see double-digit increases in their individual health insurance markets, where people purchase coverage directly from insurers.

The disparities are striking. By 2017, the estimated increase would be 62 percent for California, about 80 percent for Ohio, more than 20 percent for Florida and 67 percent for Maryland

A 67% increase in just four years? How wonderful!

By the way, notice that all of those states voted to re-elect Obama. It’s too bad this study didn’t come out five months ago.

The administration questions the design of the study, saying it focused only on one piece of the puzzle and ignored cost relief strategies in the law such as tax credits to help people afford premiums and special payments to insurers who attract an outsize share of the sick…

In other words, the administration is not denying any of this. They are just claiming they will come up with "strategies" to make it better. But you can bet those strategies will never quite come about.

But a prominent national expert, recently retired Medicare chief actuary Rick Foster, said the report does "a credible job" of estimating potential enrollment and costs under the law, "without trying to tilt the answers in any particular direction."

It’s a good thing he has retired. But doesn’t he care about keeping his pension? You don’t speak against the revolution like this.

Obama has promised that the new law will bring costs down. That seems a stretch now. While the nation has been enjoying a lull in health care inflation the past few years, even some former administration advisers say a new round of cost-curbing legislation will be needed…

You see? The AP did eventually get around to reporting that Obama said Obama-Care would bring down the cost of insurance. But they still neglect to mention that in 2008 Obama promised he would cut health insurance premiums for families by $2,500, and do so in his first term.

But, instead, family premiums have increased by more than $3,000 since Obama’s promise, according to the last year’s annual Kaiser Family Foundation employee health benefits survey. But, what the heck. Anybody can make a mistake.

This article was posted by Steve Gilbert on Wednesday, March 27th, 2013. Comments are currently closed.

5 Responses to “Obama-Care Will Increase Claims Costs By 32%”

  1. BigFire

    The price increase is a feature, not a bug.

  2. captstubby

    from the ministry of truth;

    “more is less.”

  3. Rusty Shackleford

    This is part of the plan, you see. In the national socialists toolbox is the “we get what we want by manipulating what we can”.

    In other words, the “what we want” in this case is single-payer healthcare. Which, as we all know is not about your health nor about care. It’s about control.

    So….given the (stupid) public’s inability to identify hot three out of fine times, they go for warm instead. And they do that by manipulating that which they can….the existing regulations. Regulations that will result in raising the costs of everyone’s insurance premiums to ridiculous levels. Once again, they’re from the government and they’re here to help.

    So…their intended target is to get the public so pissed off that they scream for intervention from the government. And, all-too-happy-to-oblige, they will shrug their shoulders and say, “That’s it! Everybody out of the pool, we’re taking over healthcare now. See? You obviously can’t work it out in the private sector, even though we (the government) has bent over backwards to accommodate you so we have no other choice but to do as the people ask and take it over. Turn in your white coats as you leave.”

    All by design. It’s a coup intended to result in single-payer healthcare whereupon the 900+ page monstrosity known as Obamacare will be thrown out the window and re-created using the model that the UK has. Ironic, since captain vacation hates the UK almost as much as he hates white people in general.

    However, the only thing that piques my interest is to see how quickly people catch on to the ruse, or if they do at all. The news is being let out now by the politburo because they WANT people to know it’s going to be more expensive because they WANT the people to complain to the government and beg it to fix it.

    The ink is already dry on the laws they can’t wait to enact. It’s a manipulation game. 77% of the American public DOES NOT WANT single payer healthcare. The national socialists know this. But they also know that through manipulation, they CAN get support from idiots like McCain and Graham and other morons who think it’s government’s destiny to fix people’s lives, not get out of the way.

    Career politicians become blind to the real world and everyone’s a little like that. The baker sees the world as how many people he can make a loaf of bread for. The sea captain sees people as how many will fill a lifeboat. The entertainer sees people as how many they can get to like them. The politician sees people as how many they can “fix” and “help” and “make better” so they get more votes.

    Thus, it comes down to that same, said, fundamental: “Am I able to do for myself, or will I enslave myself to those who do for me?”

    Seems we have a huge contingent in this nation that has been fed the Kool-Aid for forty plus years and now we have a bunch of socialists running around who, by definition, think that businesses are evil, that conservatives are racist, bigot homophobes and the ONLY way to fix that is through a “benevolent and caring” government.

    Bleagh. :-p

    When I talk like this in front of people I work with, they often ask me why I’m so cynical. It’s no cynicism, it’s reality. It’s truth. It’s facts. They can’t see it because when you’re part of the brushwork, you cannot objectively evaluate the painting.

  4. Liberals Demise

    Thirty some million people couldn’t afford insurance before. Now 200 million won’t either.
    Way to go, Oblome!


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