ObamaCare’s impact on health costs.
ObamaCare’s Medicare Advantage cuts will especially hit the Latino community. “In fact, according to my colleagues’ estimates, nearly 300,000 Hispanics will lose or be dropped from their Medicare Advantage plan, or find that the plan they were in is no longer financially attractive, facing an estimated $2.2 billion loss in annual benefits. Plus, approximately 56 percent of New York seniors would lose their Medicare Advantage plans. So much for the President’s repeated promise that we would be able to keep our current health coverage if we liked it.”
“The Obama administration has a dilemma. On the one hand, it wants to be seen as the champion of preventive care — because these are the only tangible services that touch the lives of the 80 percent of the population that is basically healthy. On the other hand, a vast increase in insurance coverage for such services will only increase health care costs and crowd out access to care for those who have more serious medical needs.”
Research shows that firms are paying more to insure their employees because of ObamaCare. Despite presidential promises to lower premiums for businesses and families, premiums will jump 8.8% in 2011. “While health care reform cannot be blamed entirely for employers’ increasing cost, the incremental expense of complying with the new law adds fuel to the fire, at least for the short term.”
According to a study from Hewitt Associates, average workers will see the amount they spend on employer-sponsored health care jump by almost $500 next year. That includes both premiums and out-of-pocket costs. This is despite the promise that ObamaCare would lower premiums by $2500 for families.
“The Patient Protection and Affordable Care Act, a.k.a. ObamaCare, is to the law of unintended consequences what Newton’s apple was to the law of gravity: the illustration that bonks us on the head with its obviousness. Practically every week since its passage has added a new dimension of mirth to Nancy Pelosi’s punchline for the ages, that we had to pass the bill to find out what is in it. Out of the mouths of babes and clueless politicians . . .”
“Still, as we reach this six-month milestone, there is one thing about health-care reform that we can celebrate. According to the latest Rasmussen poll, 61 percent of Americans want the law repealed. The president probably won’t mention that, either.”
“ObamaCare’s a painful shot in the wallet. A Greenwich Village resident was socked with an eye-popping 25 percent increase in health premiums — and his insurance company is slapping part of the blame on President Obama’s health-care overhaul that took effect yesterday… Doug Gowland’s monthly bill will jump $140 — from $565 to $705 — under the hike, according to a letter he received from insurer EmblemHealth. In the notice, EmblemHealth told Gowland, who is healthy, ‘The proposed rate increase includes two components: a basic increase on your type plan and an increase due to the cost of enhanced benefits required by the new federal Patient Protection and Affordable Care Act.'”
“Two of Minnesota’s biggest health plans said Thursday they have temporarily suspended sales of individual health insurance policies because of uncertainty related to the new federal health reform law… Insurance officials said the industry has been scrambling to figure out the new federal regulations for months.”
“One of the major impacts of the Patient Protection and Affordable Care Act is that individuals and families will see higher health insurance premiums. Obamacare imposes several costly new mandates and restrictions on health insurers and providers that will raise health cares costs and therefore premiums. This paper lists a dozen factors that will contribute to higher premium costs.”
“Competition used to discourage insurers from providing lousy access to care, but under ObamaCare competition will reward skimping. Under ObamaCare’s price controls, insurers that gain a reputation for providing quality coverage to the sick will attract sick people and go out of business. Insurers that gain a reputation for providing lousy access to care will drive away sick people and thrive.”