Why Raise Insurance Rates?

[Howey]

Even with Obamacare not fully implemented, why are health care providers raising rates astronomically?

In a private presentation to brokers late last month, UnitedHealth Group Inc., the nation’s largest carrier, said premiums for some consumers buying their own plans could go up as much as 116%, and small-business rates as much as 25% to 50%. The company said the estimates were driven in part by growing medical costs not directly tied to the law. It also cited the law’s requirements that health status not affect rates and that plans include certain minimum benefits and limits to out-of-pocket charges, among other things. [...]

Aetna Inc. in a presentation last fall to its national broker advisory council, suggested rates on individual plans not being grandfathered under the law could go up 55%, on average, and gave a figure of 29% for small business rates. Both numbers included 10 percentage points tied to medical-cost inflation, not the law. An Aetna spokesman said the numbers are “still generally in line with what we’ve been estimating,” and represented the average impact in a typical state.

An official with Blue Cross & Blue Shield of North Carolina told a gathering of brokers last week that individual premiums could go up by as much as 40% to 50%, according to brokers who were present. A spokeswoman for the insurer said “we don’t have final numbers” yet on premiums.

It's certainly not because they're struggling, what with profits sky high.

My guess? They're trying to scare people. Or jacking up rates to make as much money as possible, but I don't think that's it because of Obamacare since under it they'll be insuring more healthy people than now...

 

[Cancel 2016.2]

Even with Obamacare not fully implemented, why are health care providers raising rates astronomically?

Because costs to them are going up.

It's certainly not because they're struggling, what with profits sky high.

How are they 'sky high'???

United Health (mentioned in your link) has a profit margin of 5%. An operating margin of about 8.5%.

How is that sky high?

My guess? They're trying to scare people. Or jacking up rates to make as much money as possible, but I don't think that's it because of Obamacare since under it they'll be insuring more healthy people than now...

Obamacare will also be insuring more unhealthy people than now...

 

[zappasguitar]

Even with Obamacare not fully implemented, why are health care providers raising rates astronomically?



It's certainly not because they're struggling, what with profits sky high.

My guess? They're trying to scare people. Or jacking up rates to make as much money as possible, but I don't think that's it because of Obamacare since under it they'll be insuring more healthy people than now...

The insurance companies understand that in the next few years, as Obamacare becomes the law of the land, it will become more and more difficult to gouge the consumer, so the greedy insurance company CEO's are getting their gouging done now while they still can.

And of course pro-business Righties who dont give two rat frts about their fellow Americans don't care that it's happening and merely ignore it.

 

[Althea]

Yes...price gouging now. Insurance companies got what they wanted during the ACA negotiations....the mandate, and no public option.
You'll see the gouging in the states that have no regulators....California, for one. But, they'll be sending rebates if they don't meet the 80% mlr.

 

[Howey]

The insurance companies understand that in the next few years, as Obamacare becomes the law of the land, it will become more and more difficult to gouge the consumer, so the greedy insurance company CEO's are getting their gouging done now while they still can.

And of course pro-business Righties who dont give two rat frts about their fellow Americans don't care that it's happening and merely ignore it.

You're a smart guy, Zap.

This is from Forbes, definitely not a left wing shill...

A new Congressional Budget Office report out last week has the healthcare world scratching its head over the possibility that Obamacare might—in part—be responsible for what is being described as a significant slowdown in the growth of healthcare costs in America.

According to the report, hundreds of billions of dollars in federal spending for Medicare and Medicaid are being removed from government projections as federal healthcare spending is now expected to be full 15 percent less than what had been initially budgeted for 2012. The surprisingly low spending projections come as the growth in healthcare spending has hit a new low for the fourth consecutive year...

Now, experts are beginning to recognize that the Affordable Care Act may, in fact, be contributing to the good news—a significant development as bending the cost curve was a primary goal of Obamacare.

Douglas Elmendorf, Director of the CBO, noted that while much of the savings are the result of a loss of wealth due to the recession. But, for the first time, Elmendorf was willing to say that a ‘significant part’ of the savings are the result of structural change in how healthcare is now being delivered.

While the new data suggests that some of the changes in how providers are paid for delivering healthcare began—and were having a positive impact—prior to passage of Obamacare, the ACA codifies these changes in payment procedures for physicians and hospitals, taking what now appears to be programs that are slowing the growth in costs and applying them to all providers throughout the nation.

 

[NOVA]

First Howey says :

Even with Obamacare not fully implemented, why are health care providers raising rates astronomically?
It's certainly not because they're struggling, what with profits sky high.

My guess? They're trying to scare people. Or jacking up rates to make as much money as possible, but I don't think that's it because of Obamacare since under it they'll be insuring more healthy people than now...

Then Howey says:

You're a smart guy, Zap.

This is from Forbes, definitely not a left wing shill...

A new Congressional Budget Office report out last week has the healthcare world scratching its head over the possibility that Obamacare might—in part—be responsible for what is being described as a significant slowdown in the growth of healthcare costs in America.

According to the report, hundreds of billions of dollars in federal spending for Medicare and Medicaid are being removed from government projections as federal healthcare spending is now expected to be full 15 percent less than what had been initially budgeted for 2012. The surprisingly low spending projections come as the growth in healthcare spending has hit a new low for the fourth consecutive year...

Now, experts are beginning to recognize that the Affordable Care Act may, in fact, be contributing to the good news—a significant development as bending the cost curve was a primary goal of Obamacare.

So which is it ?

 

[Howey]

First Howey says :




Then Howey says:



So which is it ?

I guess someone doesn't understand English.

 

[canceled.2021.1]

Left wingers were warned this would happen then act surprised.

It is like a queer poking another guy in the ass and acting surprised when they get infested with AIDS

if a queer is stupid and a liberal is stupid, how stupid is a queer liberal?

 

[Don Quixote]

Even with Obamacare not fully implemented, why are health care providers raising rates astronomically?



It's certainly not because they're struggling, what with profits sky high.

My guess? They're trying to scare people. Or jacking up rates to make as much money as possible, but I don't think that's it because of Obamacare since under it they'll be insuring more healthy people than now...

do you have any information as to what they are doing in calif? we have an insurance commission here that regulates rate increases

i am concerned because our older son runs his own small business (about 30 people) and has a group insurance policy

 

[canceled.2021.1]

do you have any information as to what they are doing in calif? we have an insurance commission here that regulates rate increases

i am concerned because our older son runs his own small business (about 30 people) and has a group insurance policy

What are you specifically concerned about?

 

[Airstrip One]

They have mandated customers, so they have the luxury of fixing the prices more in their favour.

 

[tinfoil]

LOL @ Howey and the rest of the low information voters.

This is old news, dumbass. Everyone opposed to the healthcare bill said it would be a free-for-all for the insurance companies. You libtards claimed it would LOWER the prices! LOL

 

[canceled.2021.1]

LOL @ Howey and the rest of the low information voters.

This is old news, dumbass. Everyone opposed to the healthcare bill said it would be a free-for-all for the insurance companies. You libtards claimed it would LOWER the prices! LOL

Yep, now they act shocked. And soon Obummer will come out claiming "This is why we need single payor". This has been the plan all along.

 

[Althea]

First Howey says :




Then Howey says:



So which is it ?

First, you'd have to have the brains to discern Medicare/Caid, from private insurance. Get back to us when you attain that ability.

do you have any information as to what they are doing in calif? we have an insurance commission here that regulates rate increases

i am concerned because our older son runs his own small business (about 30 people) and has a group insurance policy

Wheres Cal. has insurance regulation, I don't believe they are one of the states that has the ability to govern actual rates. There's a lot of big money involved in tabling that legislation since '11.
http://www.nytimes.com/2013/01/06/b...arp-rise-in-premiums.html?pagewanted=all&_r=0

 

[Althea]

You're a smart guy, Zap.

This is from Forbes, definitely not a left wing shill...

A big part of these projections no doubt comes from the fact that hospitals will now be penalized for re admittance of medicare patients for the same ailment. Hospitals will be graded on their ability to give quality care, as opposed to loading up on charges to Medicare in order to increase income.

Our elderly have been cash cows for the industry. That's going to change.

 

[PostmodernProphet]

we have an insurance commission here that regulates rate increases

and most states, if not all, regulate how much profit an insurance company may make....here in Michigan it is limited to 7%.....

 

[canceled.2021.1]

A big part of these projections no doubt comes from the fact that hospitals will now be penalized for re admittance of medicare patients for the same ailment. Hospitals will be graded on their ability to give quality care, as opposed to loading up on charges to Medicare in order to increase income.

Our elderly have been cash cows for the industry. That's going to change.

You are incorrect. The regulation is written so that ANY readmission will deny penalty, not just for the same ailment. Additionally, starting this year, ALL hospitals are getting a 2% across the board haircut from Medicare. Doesn't sound like much does it? But, if you are a hospital with 60-70% of your revenue coming from Medicare and already operating on slim margins as it is and losing money, it is going to hurt big time.

It is truly amazing how willfully ignorant you are. The facts are all there for you to digest, but you blatantly refuse to do so at your own peril.

 

[Don Quixote]

First, you'd have to have the brains to discern Medicare/Caid, from private insurance. Get back to us when you attain that ability.

Wheres Cal. has insurance regulation, I don't believe they are one of the states that has the ability to govern actual rates. There's a lot of big money involved in tabling that legislation since '11.
http://www.nytimes.com/2013/01/06/b...arp-rise-in-premiums.html?pagewanted=all&_r=0

ca now has a majority of dims in both their senate and assembly, hopefully the insurance laws will improve the problem and the insurance commission will be able to function properly...or will money continue to talk louder than voters

 

[canceled.2021.1]

ca now has a majority of dims in both their senate and assembly, hopefully the insurance laws will improve the problem and the insurance commission will be able to function properly...or will money continue to talk louder than voters

So you are saying the democrats in Commiefornia are being bought by the insurance lobby? Say it ain't so cricket

 

[Howey]

You are incorrect. The regulation is written so that ANY readmission will deny penalty, not just for the same ailment. Additionally, starting this year, ALL hospitals are getting a 2% across the board haircut from Medicare. Doesn't sound like much does it? But, if you are a hospital with 60-70% of your revenue coming from Medicare and already operating on slim margins as it is and losing money, it is going to hurt big time.

It is truly amazing how willfully ignorant you are. The facts are all there for you to digest, but you blatantly refuse to do so at your own peril.

source?