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We've learned that the mortgage-backed securities as a result were worthless. This will eventually happen to the ACA too.
Participating insurers in the exchange are capped for their annual increase, or rather they are limited by guidelines. Costs are already starting to spiral and the increase isn't covering additional liability. So what is happening is simply that insurers are dropping out of the exchange.
Already there is a crap selection of insurers and the terrible ones that are left nickel and dime on every possible medical service and co-pays/deductibles are completely ridiculous
The only satisfied customers are the freeloaders on medicaid and guess who picks up that bill...
Participating insurers in the exchange are capped for their annual increase, or rather they are limited by guidelines. Costs are already starting to spiral and the increase isn't covering additional liability. So what is happening is simply that insurers are dropping out of the exchange.
Already there is a crap selection of insurers and the terrible ones that are left nickel and dime on every possible medical service and co-pays/deductibles are completely ridiculous
The only satisfied customers are the freeloaders on medicaid and guess who picks up that bill...
Many people in Medicaid work and pay taxes currently. Old people whose nursing homes are paid for partially or entirely by Medicaid paid taxes as they worked.
You yourself may need to deal with Medicaid. Nothing like a major illness to wipe out savings. Or even a horrible accident that long term impairs your ability to work.
Participating insurers in the exchange are capped for their annual increase, or rather they are limited by guidelines. Costs are already starting to spiral and the increase isn't covering additional liability. So what is happening is simply that insurers are dropping out of the exchange.
Already there is a crap selection of insurers and the terrible ones that are left nickel and dime on every possible medical service and co-pays/deductibles are completely ridiculous
The only satisfied customers are the freeloaders on medicaid and guess who picks up that bill...
my insurer went belly up a little over a year ago . they were the 2nd biggest aca plan writer in ny . it was one major hassle when they folded .
i can't wait until i go on medicare later this year . the 4k deductible i have now is basically catastrophic insurance that i get for 6k a year in premiums .
the reason states are going to partnership ltc plans is they realized impoverishing the stay at home spouse once medicaid picks up the tab leaves 2 people on public assistance not just 1 .
they decided they are better off collecting premiums and only having 1 of the 2 being supported by welfare systems.
that is why the tools and laws we have regarding medicaid and assets are left in place . just like our tax system , your share of taxes is whatever you can legally get them down to using the tools and laws left in place .
no one wants a state full of impoverished seniors . that does harm to the economy and everyone else . almost all states now have some form of LTC partnership plans in place . only two , one of which is new york offer full asset and income protection . the rest are called dollar for a dollar plans .
if medicaid spends 500k than 500k in assets is protected . ny offers that type as well as total asset protection .
the plans are priced so by the time you are in the sweet spot for some form of care you paid in about 1 years stay in premiums
Last edited by mathjak107; 07-24-2017 at 05:10 AM..
Many people in Medicaid work and pay taxes currently. Old people whose nursing homes are paid for partially or entirely by Medicaid paid taxes as they worked.
You yourself may need to deal with Medicaid. Nothing like a major illness to wipe out savings. Or even a horrible accident that long term impairs your ability to work.
Are the taxes currently paid enough to fund the future liabilities?
Yes, very interesting article here about the medicaid planning industry and how even rich people hire lawyers whose practices are built around helping them scam the system by hiding assets so they can qualify for medicaid before going into nursing homes. And it is estimated that 2/3 of all medicaid costs are because of people in nursing homes.https://www.nytimes.com/2017/07/21/y...-article-click
Sounds like the single most effective way to fix the medicaid problem would be to make families either drain all their resources first or to take care of old people at home.
Too many people spending decades in nursing homes at tax payer expense after either giving all their assets to their kids or setting up trusts to protect the assets.
I mean it's common sense giving how many companies in the insurance industry make large donations to government officials. Follow the money
They no longer act as health insurance companies. They are facilitators, clearing houses, etc...nothing more. They are not reserving for the risks. The risks are not being funded for. The system is insolvent, and it is not because one entity is in debt to another. It is just a matter of time in which they will need to ask the public to pay up.
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