Baucus bill will increase health insurance premiums

Discussion in 'Healthcare/Insurance/Govt Healthcare' started by toomuchtime_, Oct 12, 2009.

  1. toomuchtime_
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    toomuchtime_ Gold Member

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    The Associated Press: Insurers mount attack against health reform
     
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  2. Meister
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    Meister Platinum Member Supporting Member

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    This is what happens when the government get their tentacles in the private sector. Again it just shows that over time there will be no other option....just the "fed insurance".
     
  3. Political Junky
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    Political Junky Gold Member

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    You obviously will believe everything the insurance companies tell you, including that they will take care of you.
     
  4. Meister
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    Meister Platinum Member Supporting Member

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    You obviously will believe everything the government tells you, including that they will take care of you. just sayin....
     
  5. JakeStarkey
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    JakeStarkey Diamond Member Supporting Member

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    Just saying, Meister, you can vote for your government, but you can't vote for the health insurance industry who is doing its darned level best to take every dollar it can while giving as little in return as possible. Yes, this industry needs to be regulated.
     
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  6. Political Junky
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    Political Junky Gold Member

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    UPDATE 1-White House blasts health insurance sector report | Reuters

    UPDATE 1-White House blasts health insurance sector report
    Mon Oct 12, 2009 3:46pm EDT Email | Print | Share | Reprints | Single Page [-] Text [+]
    More Business & Investing News...
    (For coverage of U.S. healthcare reform, click on [nN20512341])

    * White House dismisses report, says timed for Senate vote

    * Report says many young people may not buy insurance

    * Insurers' lobby: other sectors need to do "fair share" (Adds comments from insurers, consumer groups, Baucus spokesman)

    By Steve Holland and David Alexander

    WASHINGTON, Oct 12 (Reuters) - The White House on Monday blasted a report from the health insurance industry that said Senate healthcare legislation would lead to increases in annual insurance premiums of as much as $4,000 by 2019.

    The report for the industry trade group America's Health Insurance Plans represented a shot across the bow at Democratic plans to overhaul the $2.5 trillion healthcare system as President Barack Obama has been gaining momentum on the issue.

    A top goal of Obama in seeking to revamp healthcare is to rein in costs that have soared in recent decades. The report, prepared by consultants PricewaterhouseCoopers and posted on the industry group's website over the weekend, said costs would increase for Americans rather than decline.

    "Health reform could have a significant impact on the cost of private health insurance coverage," the report concluded.

    The release of the report comes as the Senate Finance Committee plans to vote on Tuesday on its healthcare plan after budget analysts gave the bill a rosy report card, estimating it would meet Obama's goal of reducing the budget deficit over 10 years.

    But the insurance group, which represents Aetna Inc (AET.N), Cigna Corp (CI.N), UnitedHealth Group Inc (UNH.N), WellPoint Inc (WLP.N) and others, defended the findings, saying lawmakers have abandoned any effort to slow healthcare costs.

    Instead, the bill looks to raise money from insurance companies and, ultimately consumers and employers, to help pay for healthcare costs that outpace wages each year, the group's president Karen Ignagni told reporters.

    "Because we don't see comprehensive cost control in any piece of legislation, we're looking at continuing those projected 6.2 percentage point increases ... I think it's time to bring that back," she said.

    A spokesman for Senate Finance Committee Chairman Max Baucus said the report "excludes all the provisions that will actually lower the cost of coverage," including tax credits and an increased enrollment.

    'SELF-SERVING ANALYSIS'

    The Obama White House had sought to work with the industry but the report was a clear indication that this strategy was no longer operative. It has brokered deals with drug makers and hospitals, but no such deal has been struck with insurers. Continued...
     
  7. Meister
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    Meister Platinum Member Supporting Member

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    Jake...you are making sense. I never stated that the insurance industry doesn't need regulating. I'm all for that, but I am all for tort reform also, that the government doesn't want to let go of. Regulating is part of the healthcare reform I'm on on board with. If it's going to be done right, then it's going to have to have tort reform. But being most of the politicians are lawyers, it seems their trying to protect their own industry.
     
    Last edited: Oct 12, 2009
  8. toomuchtime_
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    toomuchtime_ Gold Member

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    If you can do arithmetic and have thought about the Pricewaterhousecoopers analysis, you understand that that it is correct.
     
  9. toomuchtime_
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    toomuchtime_ Gold Member

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    Notice that the WH and Baucus are unable to respond to the Pricewaterhousecoopers analysis. This is because anyone who can do arithmetic understands it is correct.
     
  10. chanel
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    chanel Silver Member

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    Take a look at Maine and MA. Does anyone really think premiums will go down? That was never the intention, but when you ask libs how much more they are personally willing to spend to "spread the wealth" you never get an answer. Maybe they don't have jobs? I dunno. But I do know my employer paid insurance is worth 12K. I shall be punished!
     

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