A just released PricewaterhouseCoopers analysis concluded that the bill currently being worked in the Senate would, if passed, vastly increase premiums for families and individuals.
I've been saying this for months! Obama's own handout on his health care goals where he guarantees the following:
No discrimination for pre existing conditions
No exorbitant out of pocket expenses
No cost sharing for preventive care
No dropping of coverage for the seriously ill
No gender discrimination
No annual lifetime caps on coverage
Extended coverage for young adults
Is suspiciously absent of any guarantee of a reduced cost.
Indeed, achieving those goals is possibly but only by significantly increasing the costs of coverage. Now add to the above the addition of 30 million new customers, and maybe you can alleviate some of that increased cost, or maybe you'll make it worse by adding more demand for care. Still the only way to add all those new customers is through a MANDATE to buy insurance, a power not granted to the federal government by the constitution and something that flies in the face of freedom!
Don't you get tired of being a shill for the insurance companies?
Is this Senate bill the one Obama is pushing for or the alternative bill that the Senate is developing?
Here is the whole article:
The health insurance industry is planning to circulate a study that says the Senate Finance Committee’s big health-care bill would raise health insurance premiums by thousands of dollars a year. The insurance industry has largely backed the big health-care overhaul so far. But this note of dissension puts a number on the industry’s complaint that premiums could rise if legislation doesn’t do enough to push healthy people to buy insurance.
The report, commissioned by America’s Health Insurance Plans and prepared by PricewaterhouseCoopers, found that the Senate Finance bill could add $1,700 a year to the cost in family coverage in 2013, the Associated Press reports. By 2019, premiums could be $4,000 more than projected under current law, the report found.
The legislation would require insurers to sell insurance to everyone. Insurers say this requirement has to be coupled with a mandate for everyone to buy insurance, otherwise people won’t buy insurance until they get sick. That would drive up the cost of premiums. The Senate Finance bill does include penalties for those who don’t get insurance, but the report finds that the penalties aren’t high enough to make everyone buy insurance, the Washington Post reports.
A spokesman for the Finance Committee called the report a “health insurance company hatchet job,” the Post said. The report fails to take into account key elements in the bill, such as a fund designed to buffer insurers against possible losses, the spokesman said.
Meanwhile, the WSJ notes, the prospect of an insurance mandate is drawing criticism from some lawmakers in both parties, with some Democrats arguing that people shouldn’t be penalized if they can’t afford to buy something, and some Republicans questioning whether the mandate would be constitutional.
The Senate Finance bill would impose fines of up to $750 a year for individuals and $1,500 a year for families that don’t have health insurance, the WSJ notes. Anyone who had to spend more than 8% of their income to buy insurance would be exempt from the penalties.
MA has a system in place with mandatory enrollment, including fines. Guess what's been happening to premiums in MA?
And with these lovely fines, guess who gets squeezed? That's right the middle class. The lower middle class at that. There's a nice indirect health tax for ya.
And the premiums go up anyway, and so the spiral continues...
I'm sure you're not referring to me. I'm not a shill for anyone. What I'm concerned about is how this bill will actually cost us all more, will kill job creation, and undercut efforts to emerge from the recession. Less jobs, lower economic growth, and higher taxes will only serve to make the cost of coverage for everyone more expensive.
The article does point out that a mandate to buy insurance will be necessary to keep costs down. As I have said, Article 1 section 8 of the US constitution grants specific powers to the Federal government and that does not include forcing people to buy products or services they don't want and/or don't need.
I assume you are a believer in freedom are you not?
But, if you read the article, it is the insurance companies that are demanding that people be forced to buy insurance.
Yes well they need to get something if they are going to support the bill. After all, the secret back door deals Obama made with the drug companies gave them what they wanted, protection from foreign sales in the USA and a limit to the pricing on the downside. Oh but they aren't "lobbyists" they're "stake holders".
IF such a 'reform' bill is to be passed at all, that is.
Because if this foolish bill is passed and that is not a provision premiums will in very short order rise to the point where very few can afford any coverage.
Oh wait...that would mean there would have to be some sort of 'public option'...and soon most people would have to go to that by default and/or punishment...and most insurance companies would...go out of business...leaving us with the socialized, rationed health care those on the far left have been dreaming about for decades...and we get our health care from the people who brought you the DMV and collapsing bridges...
look how nicely that works out...
by sandra rinck7 years ago
I just wanted to clear up the garbage that is being put out about people being forced to buy a government health care plan. I know this seems to be the center of controversy over health care. For the record, no...
by Michael Willis8 years ago
It appears the Health Insurance Industry is taking off the gloves and preparing to battle for Their profits or else!All this past talk about working with the government to help with reform to "help" Americans...
by scoop4 years ago
What exactly is "Obamacare" and when does the law go into effect?
by Susan Reid4 years ago
If you are insured through your employer, the answer is no. If you are an individual or small business owner, please share your thoughts.Did you know there will be online health care insurance marketplaces...
by Alexander A. Villarasa4 years ago
What does one expect of a piece of legislation that was voted on, and passed both by the Senate and Congress, signed into law by Pres. Obama, and certified by the Supreme Court as being constitutional? High...
by Mentalist acer7 years ago
Will the new healthcare policy personally help you,and just exactly are the drawbacks of the healthcare bill?
Copyright © 2018 HubPages Inc. and respective owners.
Other product and company names shown may be trademarks of their respective owners.
HubPages® is a registered Service Mark of HubPages, Inc.
HubPages and Hubbers (authors) may earn revenue on this page based on affiliate relationships and advertisements with partners including Amazon, Google, and others.