Those who buy private health insurance.....what happened to Obamacare??? (rated, companies)

[isaackko]

Originally Posted by Seacove

Fact Check: Obamacare's Medicare Cuts

Fact Check: Obamacare

The idea, however, that the Affordable Care Act struck a dangerous blow to Medicare that will change the program in fundamental ways is untrue. Under the new law, Medicare will remain a wildly popular, public single-payer health insurance system that provides comprehensive coverage to millions of Americans.

I didn't say that it would strike a blow for Medicare. I was saying that they're going to cut 500 billion dollars from Medicare. Ok, so you've saved 500 Bil. Now what? Are old people going to get 500 billion dollars less sick? Doubtful. They'll end up getting subsidized care from the affordable care act. I'm not necessarily saying that it's a bad thing that they are being helped, but the shifting around of money is, well, shifty.

[Seacove]

The article details the changes, which are reducing funding to Medicare Advantage which is a private insurance that is supposed to manage Medicare spending but in fact, doesn't save any money. It actually costs 14% more than Medicare. It pegs the payments to Medicare Advantage based on quality metrics.

There are also potentially cuts to providers based on an Independent Advisory Board. They can make recommendations on payment cuts to providers.

In exchange for these kinds of reductions in Medicare spending, funding for the program was bolstered in other ways by the ACA. Preventive care is now covered 100% for Medicare beneficiaries and a gap in Medicare prescription drug coverage will slowly close under the law.

Fact Check: Obamacare

[isaackko]

I still say that the only real way to fix the system is to blow it up and have a single payer system. The article is coming from the perspective of debunking fear mongering from the Romney/Ryan campaign about medicare being gutted. This is obviously untrue, since it would be political suicide for anyone to sign it that way. Of course Medicare won't be cut. In fact, the website seems to indicate it would be expanded. The cost savings are mostly theoretical though, with the absence of reducing coverage for rich people (which really, I doubt could save half a trillion dollars AND fund expansion of services). Even getting rid of Advantage. Someone will have to fill that role of doing all that paperwork, it won't be a clean 14% cut.

[Seacove]

I fully agree with you on a single payer system and maybe that will happen someday. I'm not in healthcare, it's not my expertise and no one in our family is nearing Medicare age. But I do think the way things were going was futile. Health care is not a choice the way car insurance is. If you're sick, you have two choices, get better or die and leave your family potentially destitute either way. I'm all for capitalism but if you make health care profit based, the costs for an aspirin in the hospital are always going to go up. Which is why other countries laugh at us with our $25. aspirin tablet. And tort reform is something touted regularly but many states have tort reform already and it had zero impact on health care costs. Texas has tort reform and they are number one in uninsured. The insurance companies just reduced their lawsuits and kept the profits.

I see ACA/Obamacare as the beginning of experimenting with how we address it. I don't mind paying for health insurance if I can count on me and my family getting health care when sick. But the costs were exceeding the cost of a mortgage before ACA, it's not like that just started. And insurance companies were notoriously canceling policies when someone got sick and calling it preexisting conditions (and a few other names).

We are fortunate with regard to health coverage now but you never know. And many employees stay at companies longer than they normally would because they are afraid to leave their health coverage. Those looking for jobs in the Seattle area might have more success if the employment were more fluid but you've got a lot of people saying "I'll stay where I'm covered". What if it was taken out of the equation and everyone shopped for coverage on a competitive exchange?

It would be great if it was single payer and we were done with it. It would be great if all the people that work for health insurance companies went to medical school instead because we had a massive need for health care workers because everyone was covered. For now, I'll just keep an open mind and see how this goes.

[isaackko]

There are a few reasons why American healthcare costs so much, and a few reasons why it doesn't cost so much.

It costs a lot because:
- We spend a ton more money on end of life care compared to other countries (that being other industrialized countries like those in Europe, Japan, Aus, etc).
- We pay a ton more for medications because our insurance companies don't have bargaining power that governments do. As a result, drug makers pin Americans with the dollars that they got negotiated out of by France, Germany, etc.
- We have a higher standard of living in America, so that translates to higher costs (not enough to justify the amount we pay, but a lot none the less).
- The American system is horribly out dated and inefficient. We are one of the only big countries that doesn't use electronic recordkeeping en masse.

It doesn't cost a lot because of:
- CEO salaries
- HMO profiteering
Those are drops in the bucket and are red herrings to distract from the real problems.

[cdelena]

My premiums are up another 20% for the coming year on top of increases every year in the past. The required coverage for contraception, maternity, mental health, etc. drives up costs but we will never use those coverages. I am looking for a community or boutique clinic I can join to drop insurance (medicare eligible in a year so that is another decision with a changing flex benefit / coverage).

[Ira500]

Originally Posted by isaackko

There are a few reasons why American healthcare costs so much, and a few reasons why it doesn't cost so much.

It costs a lot because:
- We spend a ton more money on end of life care compared to other countries (that being other industrialized countries like those in Europe, Japan, Aus, etc).
- We pay a ton more for medications because our insurance companies don't have bargaining power that governments do. As a result, drug makers pin Americans with the dollars that they got negotiated out of by France, Germany, etc.
- We have a higher standard of living in America, so that translates to higher costs (not enough to justify the amount we pay, but a lot none the less).
- The American system is horribly out dated and inefficient. We are one of the only big countries that doesn't use electronic recordkeeping en masse.

It doesn't cost a lot because of:
- CEO salaries
- HMO profiteering
Those are drops in the bucket and are red herrings to distract from the real problems.

I'm not sure those are red herrings. My wife and I are paying twice in individual health insurance premiums than what we paid four years ago, and getting less coverage. Why? I think some of it has to do with HMO profiteering(your phrase,not exactly I'd call it that). But health insurance companies tend to be owned by shareholders. Shareholders buy stock to make money, and stocks generally go up in price when there's steady growth in profits. There seems to be this troika insuring icreased costs...Medical equipment is one. I'm not sure they extend life, cure patients, or even make patients feel better, but hospitals have this " Keeping up with the Joneses" thing and all have to have the latest and reatest extremely expensive equipment. The lobbies have to have fancy new furniture, they have to look successful. Outcomes are stressed less than the veneer of looking successful. Then there's the ridiculous cost of pharmaceuticals as you mentioned. So yeah, I'd prefer single payer. Other countries with no health insurance companies and less fancy buildings have longer life expectancies but lower costs.

[Mistermobile]

For retired federal employees. The plan advertises that it will increase premiums 3% but my contribution for 2013 went up 21% What's up?

[StealthRabbit]

Originally Posted by Mistermobile

For retired federal employees. The plan advertises that it will increase premiums 3% but my contribution for 2013 went up 21% What's up?

Those who buy private health insurance.....what happened to Obamacare???

It is not here yet (2013 means "2013 in Political time.". ~ 2017+) AFTER Obama is gone (he is way to proud to TOTALLY soak us while his is in office)

Believe me... You will know when it arrives... Even National Propaganda Radio has accurately estimated an immediate 20 - 100% increase in rates over CURRENT (which mine are already up 400% in 4 yrs)

If health insurance is important to you (as well as retained wealth), then look to emigrate.

[509]

There are only two ways to reduce health care costs:

1) By price. That way the poor do not have access and so therefore do not raise prices for health care.

2) By rationing. Death panels, approved drugs, only approved procedures, no payment for experimental treatments, etc. etc. Limited access to doctors.

The US operated on 1) until emergency health care became a right. I really liked the PEW survey of illegal immigrants living in the US on what they liked about America. Number ONE on the list was the FREE medical care.

Obamacare will try number 2). This will work great if you do not get sick.

I feel sorry for the Canadians. Their health system operates on number 2). They can then buy supplemental health insurance for serious conditions that will get treated in the states.

My Canadian friends really love it....Obamacare will be real tough on them.