Not long after ObamaCare passed Peter R. Orszag (the economist Obama relied on to get Obamacare passed) and Ezekiel Emanuel (the doctor that assisted Orszag in getting ObamaCare passed) wrote that the law:
puts into place virtually every cost-control reform proposed by physicians, economists, and health policy experts.
A year after it’s passage Obama supporters claimed the law will contain costs:
When the President and progressive leaders in Congress took on the task of health care reform one year ago, they made three broad promises to the American people: (1) to cover the uninsured, (2) to make coverage more stable and secure for the middle class, and (3) to contain costs. Few dispute that the bills now before Congress deliver on the first two promises. But even though both packages project reductions in long-term federal deficits, there is still significant skepticism about the third promise of cost control. We examined the bills before Congress and found 12 broad categories of cost-containment. We conclude that these measures will save American employers and employees approximately $814 billion in the next 15 years.
Now we are finding out that this just isn’t so:
[youtube]http://youtu.be/cT5awx9cnJ0[/youtube]
The HHS Secretary admits costs are going up:
Some people purchasing new insurance policies for themselves this fall could see premiums rise because of requirements in the health-care law, Health and Human Services Secretary Kathleen Sebelius told reporters Tuesday.
Ms. Sebelius’s remarks come weeks before insurers are expected to begin releasing rates for plans that start on Jan. 1, 2014, when key provisions of the health law kick in. Premiums have been a sensitive subject for the Obama administration, which is counting on elements in the health law designed to increase competition among insurers to keep rates in check. The administration has pointed to subsidies that will be available for many lower-income Americans to help them with the cost of coverage.
The secretary’s remarks are among the first direct statements from federal officials that people who have skimpy health plans right now could face higher premiums for plans that are more generous.
Oh my…didn’t Obama claim that our premiums would be up to $2,500 dollars lower?
It won’t get rid of “uncompensated care.” This is a little bit technical—but it’s important. Related to the argument about emergency room usage, Obamacare supporters said the expense of the law could be justified in part by the way it would reduce uncompensated care—the “free” care hospitals give to those without insurance. The federal government was already paying hospitals for that care, the argument went, so why not just use that money to pay for insurance instead? President Obama claimed that the cost of uncompensated care was raising insurance prices nby an average of $1,000. Now it looks like the Obama administration believes that uncompensated care costs won’t go down any time soon. The president implicitly admitted this when he proposed adding $360 million to a fund that pays hospitals for uncompensated care, a bump that would effectively get rid of the cuts the health law was supposed to enable.
And this “trainwreck” doesn’t stop there. In ObamaCare’s thousands of pages there is put in place a stop-gap measure for those who can’t get insurance now because of pre-existing conditions until ObamaCare kicks in. It’s called The Pre-Existing Condition Insurance Plan. Well surprise surprise it’s running out of money and now they want the states to cover it, even those who have not approved the Medicaid expansion:
In a letter this week to Health and Human Services Secretary Kathleen Sebelius, state officials said they were “blindsided” and “very disappointed” by a federal proposal they contend would shift the risk for cost overruns to states in the waning days of the program. About 100,000 people are currently covered.
“We are concerned about what will become of our high risk members’ access to this decent and affordable coverage,” wrote Michael Keough, chairman of the National Association of State Comprehensive Health Insurance Plans. States and local nonprofits administer the program in 21 states, and the federal government runs the remaining plans.
“Enrollees also appear to be at risk of increases in both premiums and out-of-pocket costs that may make continued enrollment cost prohibitive,” added Keough, who runs North Carolina’s program. He warned of “large-scale enrollee terminations at this critical transition time.”
The crisis is surfacing at a politically awkward time for the Obama administration, which is trying to persuade states to embrace a major expansion of Medicaid under the health care law. It may undercut one of the main arguments proponents of the expansion are making: that Washington is a reliable financial partner.
Chuck Schumer is admitting the same thing….costs are going to go up:
[youtube]http://youtu.be/1fsiLI991Dk[/youtube]
So what do they want to do about all this?
Five health policy wonks walk into a room and start talking about how to bend the health-care cost curve — stop us if you’ve heard this one before.
Plans to bend the health-care cost curve are pretty plentiful in the nation’s capital. Lots of think tanks and coalitions have plans to cut billions (even trillions) in health-care spending.
The Partnership for Sustainable Health Care argues it’s something different. The new alliance, which includes health plans, a hospital and consumer advocates, isn’t looking to bring fresh ideas to the debate. It recognizes this city has no shortage of think tank proposals.
Instead, the Partnership wants to start putting political muscle behind the ideas that already exist — and, after it does that, pass legislation that would control health-care costs in a way the Affordable Care Act doesn’t.
You think they will read it this time?
See author page
ObamaCare also required that the yearly increases to doctors for taking Medicare patients stop.
Usually called the ”doctor fix,” this increase has NOT been stopped.
In fact doctors are getting more each year even though they refuse to take new Medicare patients.
So, double cost.
Then there is the 2.3% tax on manufacturing almost everything you might call medical equipment.
This might be you dialysis machinery or your cane.
But manufacturers are already saying this new tax is forcing them offshore.
It was that or end research and development in medical technologies in the USA.
As a result Congress is considering doing away with this essential money that funds ObamaCare.
IF they do (and Obama would have to sign this) the money would still be needed.
Where would it come from?
About 1/2 of the STATES have balked on setting up exchanges.
Thus the feds must do it….for EACH state individually.
The cost is staggering.
AND, people who use a federal exchange are NOT eligible for any subsidy.
BUT ObamaCare is already ignoring THAT part of the law!
I guess we could go on and on with things like these.
Just saying “Train Wreck” is easier.
So the administrati0n now admits that Obamacare is going to raise health insurance premiums (it already raised mine starting this month). For the last 4 years we have had the lefties come here and tell us that is was b.s. that Obamacare was going to raise premiums and that it was all the insurance companies’ fault. Do they now disagree with the administration that the law is going raise rates? Another case of knowing so little about so much.
@another vet:
ATT has always provided health, vision and dental insurance to its retirees at no cost to the retiree, and the retiree’s spouse. Starting January, 2013, retirees are now paying from $65.00 to $140.00 per month for insurance that was supposed to be totally covered under retirement agreements. It has also dropped vision care for anyone who is 65 or over. The reason give was the heafty increase in insurance premiums. And while the amounts may seem small, ATT has warned that they will continue to increase, perhaps doubling in 2014 once Obamacare is fully implemented.
Remember, many of these ATT retirees are under 65, and not eligible for Social Security/Medicare yet, who are living on their retirement and making deductions from their IRAs until they reach SS retirement age. So getting hit with a $1,200 to $1,600.00/year bill makes a big difference in their budgets. And there are signs it will only get worse, with the possibility of ATT cancelling prescription drug benefits for retirees in 2014, causing them to purchase other plans at a higher rate due to their age or covering the cost of Medicare Part D.
ATT is not alone in this action. Other companies are considering the [rapidly] increasing costs of ensuring pre-65 retirees.
Ain’t socialism wonderful?
In today’s news; jobs are up (again) and the stock market hits a record. Man, that Obama sure is a bad ‘socialist,’ lol! In the meantime, how many jobs bills have the GOP blocked? 16? 17?
Some employers will try to rip off their employees. But do we really want to go back to a time where you had to sell you house to pay for health care costs? Do you really want insurance companies once again allowed to deny coverage and let people die? Think, people! The GOP are after you-the middle class.
Another TV news channel acting as shill for the corporate controlled GOP. Notice how this clip conveniently ends during Schumer’s explanation? And Fox News? Well, what do you expect?
people like Sen Charles Schumer are the problem in this country!!
@This one:
“We will not have any more crashes in our time.”
John Maynard Keynes – 1927
“There will be no interruption of our permanent prosperity.”
Myron E. Forbes, President, Pierce Arrow Motor Car Co. -January 12, 1928
“There may be a recession in stock prices, but not anything in the nature of a crash.”
Irving Fisher, leading U.S. economist, NY Times, Sept. 5, 1929
As October 29, 1929 edged closer, the stock market continue to climb to unbelievable heights. All the leading economists predicted that there was no crash/recession on the horizon. The nation was healthy, making money hand over fist.
The old adage “A food and his money are soon parted” applies to anyone who thinks that this bear market is a predictor of a financially healthy nation and who refuses to see the warning signs.
Yeah, lol. Nice response!
@retire05: It will be interesting to see what the impact this will have on our economy. When people have to start shelling out more money on health care, it will reduce spending elsewhere. Add to that a stagnant wage market and a shift to lower paying jobs and we may be in for a bad downturn next year. Hopefully I’m wrong, but………….
@This one:
If you read the U-6 numbers the actual unemployment rate is at 13 plus percent. The BLS is not pushing that number. The U-3 number is only lower because of the number of people dropping out of the workforce. Work hours are being cut to under 30 hours per week for many because of obamacare.
So yeah, obama the socialist sucks.
Obamacare does not increase access to care. There are no additional doctors added to actually see the newly insured.
Medicaid pays 11-15% of what it costs the doctor to see a patient. It takes a minimum of 12-18 months for Medicaid to pay even that amount. How long would any business stay afloat under those circumstances?
I’m guessing that conservatives who read conservative blogs and watch Fox News and The Blaze aren’t surprised by any of this. In fact, they were expecting it. Can anyone name one government program that DIDN’T cost a lot more than promised?
@This one:
So you want to blame employers, people that have to make a profit and be competitive to stay in business?
Lest we rehash the entire healthcare debate, no one that I know has said the existing (or now previous) system was utopia. I think everyone thought it needed to be changed. But one big government program is not the answer, and it is proving true. The Commerce Clause was put in the Constitution to make commerce regular, not give government the ability to grow its own power. Healthcare should have been relinquished to the States and congress should have allowed policies to be sold across State lines. That’s what the Commerce Clause was intended to provide. The States designing their own healthcare systems would have been a great opportunity. 50 different plans, allowing the States to see which provided the best care. Instead, Obamacare was rammed down the throats of the public. Exactly how was this not foreseeable?
@retire05: Are you calling this 4 year move from 8,000 to 15.000 on Dow a BEAR market? Perhaps you meant Bull.
IMO Markets will pull back as interest rates rise and recovery takes hold.
@Richard Wheeler:
Yes, I did.
Perhaps you should look at the Dow in the years leading up to Black Friday. Our current Dow is pretty much following the same track.
I believe there will be another market crash. None of the things that caused the crash in Sept-Oct., 2008 have been resolved. The Obama administration is still pushing risking housing lending practices, the CRA is still in effect and companies are not hiring due to the consequences of Obamacare. Our labor force is lower than it has been in decades.
If people are not working, and they’re not, they have no money to spend and there is less demand for goods and services. Of course, idiots like the ones you vote for think unemployment checks cause economic stability. Just pour more money into the federal coffers so it can be redistributed and everything will be peachy.
Curt and Ret05 The hugely inflated highs of 1929 with markets up over 300% from previous high much different than current highs up only 6% from previous record highs in 2006.
@another vet: Gee Vet, does that mean there will be death committees made up of non-elected officials? Is there anything that our fearless president has told us about Obama Care that will prove true? Remember, your costs for Tri-care you earned with you nearly 30 Years of service is going up to pay for those who voted for this president