Under Obamacare, N.Y. Insurance Rates DROP 50%

[Norman]

At the outset, the ACA will be taking in BILLIONS and paying out nothing. Easy to have low rates at that point. And maybe it's the right thing to do.

But they ain't gonna stay there

You should be in the Health Insurance business!!

I was for over twenty years.

Hated every minute of it.

Except on pay day

Why did you hate it? Just wondering...

Can you answer to the questions posted above? So far you haven't taken a stance on this whole is it wise to even buy an insurance under ACA question.

Most people seem to have insurance from their employers so I suppose it's not going to be a complete disaster even if some people choose to only get insurance if they get sick...

 

[Edgetho]

Billy Joe Bob is 18 and just got a 1995 Mustang GT.

He can either buy Health Insurance or put an exhaust on his car.

Exhaust.

He can either buy Health Insurance or he take Mary Jean out on the town a few times.

The Town.

Billy gets drunk one night and drives his car into a tree.

Ambulance comes and carries Billy to the E-Room.

He has no insurance so what do we do? Let him die?

In the old days, that was an option but not anymore. It's the law. They have to stabilize him.

So a $100k later, Billy is doing much better.

And has gone and gotten himself another Mustang.

Oh, the $100,000?

There is no chance in hell of the Hospitals and Doctors EVER collecting that from him. Ain't gonna happen.

So they "Cost Shift" it onto people who CAN pay.

Me. You. Other working people.

The millions of uninsured people in this Country who show up in E-Rooms every year?

That shit ain't free, kids. The Hospitals and Doctors are Cost-Shifiting onto us.

If it's bad enough, hey end up on Medicaid and/or Welfare.

Who pays for that? The Good Fairy?

I'm for MANDATED Health Insurance for one very simple reason.....

I'm tired of people not paying their way.

I don't hate people like Billy. Not at all.

He's young, healthy, little to no chance of a disease and, as far as he's concerned -- He's bullet-proof.

My problem is that the Stuttering Clusterfukk and dimocraps have designed the ACA to become a single-payor (aka; socialist) system.

It WILL happen unless we get in there and fix it.

Complicated subject. Very complicated.

And it's why I hated the business. Like trying explain Relativity to 3rd Graders.

Sorry if that sounds condescending, it's just true

 

[Trajan]

The title of the thread says NY rates drop 50%. So either the Op is a liar, highly ignorant or both.

Read the NYTimes you stupid idiot ....

http://www.nytimes.com/2013/07/17/h...t-for-new-yorkers-set-to-fall-50.html?hp&_r=0

I already read, and quoted the article, dullard. Only poor people who go searching for their own insurance will see rate "drops". Those of us who already have insurance will see no such thing. in fact, with other rules in Obama Tax, there will likely be increases.

Let's also not forget all the folks who are going to have their hours slashed so employers dont have to provide something they can not.

It's a really great article if youre poor and want other people's money so you can have something. For everyone else, it's simply going to be burdensome.

listen to how she spins this BS.... Fanatabulous




Premiums could rise under healthcare law, Sebelius concedes
By Elise Viebeck - 03/27/13 02:26 PM ET

Read more: Premiums could rise under healthcare law, Sebelius concedes - The Hill's Healthwatch
Follow us: [MENTION=27326]The[/MENTION]hill on Twitter | TheHill on Facebook


-"there may be a higher cost associated with getting into that market" where "folks will be moving into a really fully insured product for the first time."




-"Sebelieus added that people are really going to see much better benefit for the money that they're spending"......

and I love the 'after thought' to that sentence .....

and noted that many will receive subsidies from the government to help pay for insurance.

But, its Cheaper...... right???!!?


and this one-
-
"in the future, we're gonna see rates that are lower for higher benefits,"

 

[DiamondDave]

"with federal subsidies"... which of course the cost of those is not disclosed.. and it has to be paid for by someone... but as long as it is not them, the leeches don't care

 

[Edgetho]

You should be in the Health Insurance business!!

I was for over twenty years.

Hated every minute of it.

Except on pay day

Why did you hate it? Just wondering...

Can you answer to the questions posted above? So far you haven't taken a stance on this whole is it wise to even buy an insurance under ACA question.

Most people seem to have insurance from their employers so I suppose it's not going to be a complete disaster even if some people choose to only get insurance if they get sick...

I hated it because I was in the Property and Casualty Business, which is far more complicated than Health & Life.

People didn't and couldn't understand it and because they couldn't eat it, drive it, **** it, wear it or sniff it, they didn't want to buy it or understand it.

I believe in a Mandated Health Insurance Program. NOT in socialized medicine.

I see no problem with buying Insurance under the ACA at this time.

A word of caution... Listen carefully to this.

IF the rate under the ACA is substantially lower than what you're paying now, think hard before getting out of your current and getting into the ACA.

Especailly one of the exchanges.

Not giving advice, only an opinion.

In Florida, after Hurricane Andrew, dozens of BIG Insurance Companies up and left.

Wanted no part of any more Hurricanes. Only a handful of Companies with Allstate and State Farm being by FAR the biggest stayed.

In a lot of cases, there was no Homeowners Insurance to be had. Allstate and State Farm could only carry so much risk without risking going under.

Without the ability to buy Homeowners Insurance, guess what? You can't buy a Home.

And if you can't buy a Home, Housing Construction stops, When Housing Construction stops, everything stops.

And when Companies cancelled (technically, non-renewed) TENS OF THOUSANDS of existing Homeowners with Mortgages, Mortgage Companies and Banks were having serious Heart Attacks.

So the State of Florida started the FRPCJUA (now called Citizens Insurance) and the rates were LOW. Because of the reasons I stated earlier All incoming, no outgoing.

Thousands of people left perfectly good Companies and went to the State plan. TENS OF THOUSANDS actually.

Of course, because it was run by the State, they fucked it up and the rates quickly quadrupled. About a year. Maybe less.

Those people that left wanted to come back home to Mama.

Not gonna happen. The Companies didn't want them back.

Just.... Be careful. Not telling you not to do it. Just be careful. I don't trust government. They tend to **** up everything they touch.

If we get some Republicans in Office, maybe we can fix it. Maybe

Sorry to bore you

 

[Wyatt earp]

State insurance regulators say they have approved rates for 2014 that are at least 50 percent lower on average than those currently available in New York. Beginning in October, individuals in New York City who now pay $1,000 a month or more for coverage will be able to shop for health insurance for as little as $308 monthly. With federal subsidies, the cost will be even lower.

$308 bucks a month? who the hell is going to pay $308 bucks a month on a part time job? think they would rather spend it on little things like food and rent and just pay the penalty..

 

[Edgetho]

State insurance regulators say they have approved rates for 2014 that are at least 50 percent lower on average than those currently available in New York. Beginning in October, individuals in New York City who now pay $1,000 a month or more for coverage will be able to shop for health insurance for as little as $308 monthly. With federal subsidies, the cost will be even lower.

$308 bucks a month? who the hell is going to pay $308 bucks a month on a part time job? think they would rather spend it on little things like food and rent and just pay the penalty..

That's a reasonable rate. Very reasonable.

And a lot of times, the person with the part-time job is a Lady trying to supplement her husband's Income because raising their children is more important than money to some people.

Ladies should NOT be without Health Insurance. Ever.

Don't know if you've noticed yet, but their bodies.....? Kinda complicated.

In a nice way

 

[Soggy in NOLA]

Obamacare hasn't even been implemented yet...

 

[thereisnospoon]

Can anyone explain the mechanism which is supposed to make this happen?

Why would anyone even buy insurance if they aren't sick? 308 USD a month is still a huge sum. You could easily take care of routine check ups with that and then buy insurance if it seemed like the costs are going to sky rocket. (This kind of behavior would of course make insurance prices sky rocket).

Or are they just playing a trick on us? 1000 plan that covers everything vs. 300 plan that covers pretty much nothing?

A week in the Hospital can cost you $40,000. Good reason to buy health insurance

And the one thing the free shit people like to ignore is these cheapo insurance plans leave the insured stuck with 40% of the bill.

 

[Claudette]

The title of the thread says NY rates drop 50%. So either the Op is a liar, highly ignorant or both.

Read the NYTimes you stupid idiot ....

http://www.nytimes.com/2013/07/17/h...t-for-new-yorkers-set-to-fall-50.html?hp&_r=0

I already read, and quoted the article, dullard. Only poor people who go searching for their own insurance will see rate "drops". Those of us who already have insurance will see no such thing. in fact, with other rules in Obama Tax, there will likely be increases.

Let's also not forget all the folks who are going to have their hours slashed so employers dont have to provide something they can not.

It's a really great article if youre poor and want other people's money so you can have something. For everyone else, it's simply going to be burdensome.

Yup. The subsidies are tax dollars. Other peoples tax dollars to pay for healthcare for those that can't pay.

Don't know bout you but I ain't interested in paying for someone elses health care especially since the cost for mine will be going up.

 

[thereisnospoon]

Can anyone explain the mechanism which is supposed to make this happen?

Why would anyone even buy insurance if they aren't sick? 308 USD a month is still a huge sum. You could easily take care of routine check ups with that and then buy insurance if it seemed like the costs are going to sky rocket. (This kind of behavior would of course make insurance prices sky rocket).

Or are they just playing a trick on us? 1000 plan that covers everything vs. 300 plan that covers pretty much nothing?

Did you seriously just ask "why would you have insurance if you're not sick"?

10 million people under the age of 30 elect to not take insurance coverage from their employers.
Plus it is YOUR SIDE which gleefully exclaims the virtue of insurance which covers pre existing conditions.
You can't have it both ways.

 

[thereisnospoon]

Seems most tea party Taliban really believe the garbage they hear on FOX.

For these poor souls: Obamacare is meant to provide insurance for the uninsured.


Your welcome.

No it isn't. The concept behind ACA is to create a single payer system. A system of medical treatment operated and funded by taxpayer dollars.
In other words, a miserable failure.

 

[PredFan]

It's the typical left wing shell game.

Complete bull shit if you are intelligent enough to look at the facts.

 

[thereisnospoon]

Did you seriously just ask "why would you have insurance if you're not sick"?

Yes I did. It's a similar question to "Why would you have fire insurance if your house is not on fire". It doesn't help you in any way unless you actually need it.

It is my understanding that this new Obamacare law makes purchasing insurance possible even if you are already sick (comparable to your house being on fire). I don't know how quickly one can do this though.

Yes, people with "pre existing conditions" can now get the life saving care every American deserves. Did you know that in the insurance world pregnancy and even rape an be considered a "pre existing condition that can get you denied care?

No one ever denied care. They just have to pay for it. Novel idea.
That's why it is incumbent upon all of us to buy health insurance.
We really did not need the federal government to tell us that. Not 960 pages worth of bureaucracy, 16,000 new IRS agents and trillion of dollars in federal debt.

 

[thereisnospoon]

The new premium rates do not affect a majority of New Yorkers, who receive insurance through their employers, only those who must purchase it on their own. Because the cost of individual coverage has soared, only 17,000 New Yorkers currently buy insurance on their own. About 2.6 million are uninsured in New York State.

But some consumers may still find the prices and plans disappointing. Jerry Ball, 46, who owns a recycling business in Queens, said the cost of covering his family increased so rapidly in the last few years that he had to scale back their coverage. Still, he pays nearly $18,000 a year for a high-deductible policy for a family of three.

He said he would be reluctant to part ways with his insurer, Oxford, and was disappointed that even the least expensive Oxford plan being offered next year would cost about as much as he pays now.

Like most, I have a plan through my firm. Can you please contact them and let them know that Obama Tax is bringing down rates? Because mine went up 7% this year and is scheduled to go up 8% next year. I already pay around the same price as Mr. Ball for a monthly plan...for ONE.


Thanks in advance, sucker.

But none of those rate hikes had anything to do with the ACA. Your insurance company raised your rates, not the ACA.

Insurance companies are recouping anticipated losses.
ACA does not control costs. It controls prices.
Upward pressure on the cost of medical care, medicines, technology and equipment will cause ACA to raise the cost of coverage rather soon and rapidly upward will the premiums go.

 

[thereisnospoon]

Yes, people with "pre existing conditions" can now get the life saving care every American deserves. Did you know that in the insurance world pregnancy and even rape an be considered a "pre existing condition that can get you denied care?

Yeah, so why would you buy an insurance before you have a condition? If you are healthy you don't need an insurance.

Of course, this is why you have a fine, but I think it's still considerably smaller than 300USD a month.

If many people start doing this, the rates obviously have to rise a lot.

You WILL need healthcare at some point. I've never "needed" my auto insurance and I may never. You WILL end up needing a doctor. The insurance mandate is for those who think they're indestructible...leaving me to pay their emergency room bill with a $10 aspirin.

The reason why there are hospitals charging ten bucks for an aspirin are due to government mandates, regulations, defensive medicine, malpractice premiums and of course unrealistically low reimbursements.
No hospital ever collects $10 for that aspirin. The reimbursement is maybe 10 or 15%. The rest is written off.
The charge is that high so that the medical facility can break even after it is reimbursed by the insurer. Plus, the facility has to buy equipment, buy supplies and disburse payroll well in advance of seeing a dime.
There is no magic wand to make it all better.
ACA simply moves the chess pieces around the board.

 

[Vox]

In Florida, after Hurricane Andrew, dozens of BIG Insurance Companies up and left.

Wanted no part of any more Hurricanes. Only a handful of Companies with Allstate and State Farm being by FAR the biggest stayed.

In a lot of cases, there was no Homeowners Insurance to be had. Allstate and State Farm could only carry so much risk without risking going under.

Without the ability to buy Homeowners Insurance, guess what? You can't buy a Home.

And if you can't buy a Home, Housing Construction stops, When Housing Construction stops, everything stops.

And when Companies cancelled (technically, non-renewed) TENS OF THOUSANDS of existing Homeowners with Mortgages, Mortgage Companies and Banks were having serious Heart Attacks.

So the State of Florida started the FRPCJUA (now called Citizens Insurance) and the rates were LOW. Because of the reasons I stated earlier All incoming, no outgoing.

Thousands of people left perfectly good Companies and went to the State plan. TENS OF THOUSANDS actually.

Of course, because it was run by the State, they fucked it up and the rates quickly quadrupled. About a year. Maybe less.

Those people that left wanted to come back home to Mama.

Not gonna happen. The Companies didn't want them back.

But haven't you just said that almost ALL insuranse companies LEFT so people were left without ANY insuranse so Citizens was formed? So it is inevitable that if Citizens became a monopoly they will raise the premiums, but the reason is not that people left their insurances but that the insurance companies dumped them...

 

[thereisnospoon]

Republicans would say: "Big deal, but what about South Dakota?"

But the ACA is still better than a sharp stick in the eye.

All we gotta do now is get some Intelligent people (Republicans) in office to fix it.

It can work.

Are these the Republicans that crashed our economy to the worst Recession in U.S. history?

...While jacking health care costs to the highest in the world?

Their resume is etched in concrete

Another true( liberal) believer..
You are out of gas.

 

[deltex1]

Thank god those federal subsidies are free. You can't beat free.

 

[thereisnospoon]

The title of the thread says NY rates drop 50%. So either the Op is a liar, highly ignorant or both.

Read the NYTimes you stupid idiot ....

http://www.nytimes.com/2013/07/17/h...t-for-new-yorkers-set-to-fall-50.html?hp&_r=0

Come up with two other sources. Not reprints of the NYT article either.
I read the article. It states that the rates will fall.
The article does not cover the how and the why. It also leaves out important details such as the type of coverage available and the percentage the insured will pay out of pocket.
Yes, there are people who will buy the cheapest policy they can, but for what coverage?
Oh, there is a sentence buried deep in the piece which states the lower priced coverage may not offer a wide choice of coverage or medical facilities.
You conveniently left that out.
Any savvy consumer knows damned well they get what they pay for.
Only the uneducated consumer shops on price alone.