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Old 03-20-2010, 12:39 PM
 
Location: Sango, TN
24,869 posts, read 23,375,987 times
Reputation: 8661

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I'm really tired of hearing people say "How can it save us money, and cost so much at the same time?"

So, here is an explanation, in a simpler example, maybe you'll understand.

You have a bill, and you're paying a 10% interest on it. If you do nothing but pay the minimum payment, in the fine print, the interest rate will increase, by an additional 5% year, over year, over year.

So, after 5 years, you're interest rate will be over 35% what it was originally, and the minimum payment keeps increasing, and doesn't lower the debt.

Now, you have the option of "reforming" your payment plan, by paying, lets say 25% up front. That will lock in your lower interest rate at 10%, and lower it by 1% yearly.

This is how the healthcare bill saves money, but costs money up front. Right now, health costs in this country are increasing at a rate, higher than the national inflation rate. So, we just keep digging our health cost hole deeper. If nothing is done, over the next 10 years, it may cost our country 50 trillion dollars (not sure the exact number here, sorry). However, if we pay 10 trillion up front, it will lower the 50 trillion cost, by stopping the obscene inflation rate of insurance now.

Hope that helps those who are confused with the issue, understand why paying more now, saves even more later.
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Old 03-20-2010, 12:42 PM
 
Location: Wiesbaden, Germany
13,815 posts, read 28,272,593 times
Reputation: 4022
this is how you explain a GOVERNMENT run healthcare plan? efficient and effective are two words you will NEVER mutter if you have spent more than 5 seconds dealing with the government. How could anyone think anything run by the government would actually work?

BTW, I have some beachfront property to sell you...
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Old 03-20-2010, 12:46 PM
 
81,969 posts, read 39,305,785 times
Reputation: 12002
Quote:
Originally Posted by Memphis1979 View Post
I'm really tired of hearing people say "How can it save us money, and cost so much at the same time?"

So, here is an explanation, in a simpler example, maybe you'll understand.

You have a bill, and you're paying a 10% interest on it. If you do nothing but pay the minimum payment, in the fine print, the interest rate will increase, by an additional 5% year, over year, over year.

So, after 5 years, you're interest rate will be over 35% what it was originally, and the minimum payment keeps increasing, and doesn't lower the debt.

Now, you have the option of "reforming" your payment plan, by paying, lets say 25% up front. That will lock in your lower interest rate at 10%, and lower it by 1% yearly.

This is how the healthcare bill saves money, but costs money up front. Right now, health costs in this country are increasing at a rate, higher than the national inflation rate. So, we just keep digging our health cost hole deeper. If nothing is done, over the next 10 years, it may cost our country 50 trillion dollars (not sure the exact number here, sorry). However, if we pay 10 trillion up front, it will lower the 50 trillion cost, by stopping the obscene inflation rate of insurance now.

Hope that helps those who are confused with the issue, understand why paying more now, saves even more later.
Ummm... how does that explain how they're going to cut $500 billion from Medicare, when millions of additional Americans will be enrolling in Medicare over the next decade?
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Old 03-20-2010, 12:50 PM
 
Location: Sango, TN
24,869 posts, read 23,375,987 times
Reputation: 8661
Quote:
Originally Posted by InformedConsent View Post
Ummm... how does that explain how they're going to cut $500 billion from Medicare, when millions of additional Americans will be enrolling in Medicare over the next decade?
Because it removes the Medicare reform that Bush put into place, that has been an obvious failure. Costs went up more, by letting Insurance companies compete for the medicare contracts.

Also, by adding more young people to the medicare roles, it reduces cost, by spreading the risk out over more people.

People are in favor of co-ops, and they work in the same way. The more people you add, the more the risk is spread out, the lower the rates will be.
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Old 03-20-2010, 01:08 PM
 
4,603 posts, read 7,868,106 times
Reputation: 1266
How the healthcare bill, will cost money up front, and save money in the long term

Here's how...



...or not !
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Old 03-20-2010, 01:27 PM
 
1,791 posts, read 1,728,332 times
Reputation: 2210
Quote:
Originally Posted by Memphis1979 View Post
Because it removes the Medicare reform that Bush put into place, that has been an obvious failure. Costs went up more, by letting Insurance companies compete for the medicare contracts.

Also, by adding more young people to the medicare roles, it reduces cost, by spreading the risk out over more people.

People are in favor of co-ops, and they work in the same way. The more people you add, the more the risk is spread out, the lower the rates will be.
Quite simple to understand, really.
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Old 03-20-2010, 02:17 PM
 
81,969 posts, read 39,305,785 times
Reputation: 12002
Quote:
Originally Posted by Memphis1979 View Post
Because it removes the Medicare reform that Bush put into place, that has been an obvious failure. Costs went up more, by letting Insurance companies compete for the medicare contracts.
Huh? Costs went up because they had prescription, vision, and dental coverage... medical care that low-income seniors can't otherwise afford. Those go away with the bill's $500 billion cuts in Medicare.

Quote:
Also, by adding more young people to the medicare roles, it reduces cost, by spreading the risk out over more people.
Wait... young people will be eligible for Medicare?

Quote:
People are in favor of co-ops, and they work in the same way. The more people you add, the more the risk is spread out, the lower the rates will be.
They don't look very low to me.
Find your approximate individual or total family income range (as the case may be) on the charts on page 29 at the link below, and look to the last column to see the total cost and what percentage of your income that cost is:
http://www.cbo.gov/ftpdocs/107xx/doc10781/11-30-Premiums.pdf

For many, it will be ~15-20% of their annual income.
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Old 03-20-2010, 02:27 PM
 
Location: Great State of Texas
86,052 posts, read 80,786,628 times
Reputation: 27699
There's nothing in the bill to stop insurers from raising premiums 2-3 times the rate of inflation.
I guess you are assuming they will do it voluntarily ?
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Old 04-23-2010, 04:30 PM
 
1 posts, read 1,878 times
Reputation: 10
Yes, the bill does nothing to address the costs of pharmaceuticals, malpractice insurance, and insurance. Your insurance premiums will rise because now they will have to accept people with costly conditions.
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Old 04-23-2010, 05:01 PM
 
1,062 posts, read 978,382 times
Reputation: 402
Report: Health overhaul will increase USA's tab - USATODAY.com

Of course this 'reform' package will increase overall costs. There's simply no realistic mechanisms in place within the bill to actually insure 30 million more, while reducing costs. It was fantasy sold with bogus, incomplete numbers. As more independent analysis comes to light, the scope of the deception becomes more obvious.
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