The Bean Counters Have Spoken.

[Skull Pilot]

So Obamacare was supposed to decrease the cost of insurance right?

WRONG

Imagine that.

http://cdn-files.soa.org/web/research-cost-aca-report.pdf

Finding 3: The non group cost per member per month will increase 32 percent under ACA,
compared to pre-ACA projections

Study estimates Obamacare could raise individual claim costs 32 percent | Washington Guardian

.

 

[Queecho Feecho]

Technically, accountants would be "bean counters", not actuaries. Actuaries predict the future, or at least they estimate unknown future costs and liabilities. Accountants predict the past.

 

[Skull Pilot]

Technically, accountants would be "bean counters", not actuaries. Actuaries predict the future, or at least they estimate unknown future costs and liabilities. Accountants predict the past.

Well excuse the **** out of me.

 

[editec]

Technically, accountants would be "bean counters", not actuaries. Actuaries predict the future, or at least they estimate unknown future costs and liabilities. Accountants predict the past.

Well excuse the **** out of me.

Words matter, Skull.

Would you use a hammer when you really need a screwdriver?

Words are the tools of the mind.

 

[Underhill]

So Obamacare was supposed to decrease the cost of insurance right?

WRONG

Imagine that.

http://cdn-files.soa.org/web/research-cost-aca-report.pdf

Finding 3: The non group cost per member per month will increase 32 percent under ACA,
compared to pre-ACA projections

Study estimates Obamacare could raise individual claim costs 32 percent | Washington Guardian

.

Of course the article also says...

"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. The study also doesn't take into account the potential price-cutting effect of competition in new state insurance markets that will go live on Oct. 1, administration officials said."

So these actuaries looked at the increase in payouts and ignored everything else. That makes this evidence of... nothing.

 

[Queecho Feecho]

So Obamacare was supposed to decrease the cost of insurance right?

WRONG

Imagine that.

http://cdn-files.soa.org/web/research-cost-aca-report.pdf

Finding 3: The non group cost per member per month will increase 32 percent under ACA,
compared to pre-ACA projections

Study estimates Obamacare could raise individual claim costs 32 percent | Washington Guardian

.

Of course the article also says...

"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. The study also doesn't take into account the potential price-cutting effect of competition in new state insurance markets that will go live on Oct. 1, administration officials said."

So these actuaries looked at the increase in payouts and ignored everything else. That makes this evidence of... nothing.

Actually, that makes it evidence of precisely what the actuaries said it was evidence of. They were clear that this study is about the effect (increase) on average per member per month claims expenses underlying health insurance with PPACA in place.

The fact that there is a subsidy to pay the premium on behalf of some people doesn't change the fact that the claims costs will increase. It only means that some people won't see the effects of that cost increase, because they are shielded from it by receiving a premium subsidy. That premium subsidy has to be paid for by somebody.

 

[Truthseeker420]

the opinions expressed and conclusions reached by the authors are their own and do not represent any official position or opinion
of the society of actuaries or its members. The society of actuaries makes no representation or warranty to the accuracy of the
information

wtf?

 

[boedicca]

Duh. Many of us predicted that this would be the result.

Government NEVER makes things more efficient and cost effective than a free market place.

 

[Skull Pilot]

the opinions expressed and conclusions reached by the authors are their own and do not represent any official position or opinion
of the society of actuaries or its members. The society of actuaries makes no representation or warranty to the accuracy of the
information

wtf?

Does anyone making predictions stand by them?

How many times has the CBO revised and changed their predictions but no one ever uses that as a reason not to look at their numbers.

 

[Truthseeker420]

the opinions expressed and conclusions reached by the authors are their own and do not represent any official position or opinion
of the society of actuaries or its members. The society of actuaries makes no representation or warranty to the accuracy of the
information

wtf?

Does anyone making predictions stand by them?

How many times has the CBO revised and changed their predictions but no one ever uses that as a reason not to look at their numbers.

Sounds like a lawyer wrote this..still looking at it....