Yahoo Finance’s Ethan Wolff-Mann, who may have the best name in journalism, writes it’s not true that ObamaCare has caused employers to reduce workers’ hours because the new Kaiser Family Foundation/Health Research Educational Trustsurvey found “a whopping 7% of employers with more than 50 employees actually gave part-timers full-time jobs since Obamacare was officially launched in 2013. Only 2% of employers cut full-timers to part-time.” Leaving aside the question of whether 7 percent is a whopping figure, the figures Wolff-Mann cites don’t necessarily support his claim.
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In the event of a victory by Donald Trump in November, political analysis will take on a forensic cast. How did establishment politics — first in the GOP primaries, then in a national electorate — come to die?
Privately, Democrats would regret their selection of one of the most joyless, least visionary presidential candidates in recent memory. Publicly, they would blame trends that incubated within the Republican coalition, particularly a nativism incited by conservative media and carried by a candidate — alternately cynical and frightening — who is unbound by truth, consistency or decency.
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A new Urban Institute report claims premiums for plans sold in ObamaCare’s health-insurance Exchanges are lower than comparable premiums for employer-sponsored health plans. Unfortunately, Urban scholars used sleight of hand to hide the full premiums for ACA plans. Incorporating the full premiums shows Exchange plans are more expensive.
The study’s authors used the premiums that HealthCare.gov and state-run Exchange web sites quote prospective enrollees. Yet those quotes do not reflect the full premium for Exchange plans.
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As ObamaCare’s troubles mount, I’ve heard my patients and my peers in healthcare ask: How could the law’s authors not have seen this coming?
For my part, I think a different question needs to be asked: What if they did? What if ObamaCare was purposely designed to fail?
Every day, it seems like there are a dozen new headlines about the crisis facing ObamaCare. Premiums are rising faster than ever. Meanwhile, health insurance companies are abandoning the law’s exchanges left and right, unable to compete in the top-down, regulation-driven environment created by the law. Less than three years into its implementation, the law has never looked so precarious.
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Roughly 8 million people faced ObamaCare individual mandate penalties this year totaling more than $3 billion, an analysis of the latest IRS data reveals.
Despite the controversy and high-stakes legal battle that has surrounded the individual mandate, the scope of the penalties paid this year has gone unreported by major news outlets as attention has focused on ObamaCare’s latest and most glaring problems: weak enrollment, surging premiums, and insurer losses that have provoked the exit of UnitedHealth, Aetna and Humana from most state exchanges.
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The Census Bureau had plenty of good news on Tuesday, including a headline-making, a 1.2 percentage point decline in the number of people living in poverty and a 1.3 percent drop in the number of Americans without health insurance.
“This is the first time in a long time where we’ve had that kind of trifecta in the numbers,” said Arloc Sherman, senior fellow at the Center on Budget and Policy Priorities.
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Prices for medicine, doctor appointments and health insurance rose the most last month since 1984. The price increases come amid a broader debate about climbing health care costs and high premiums for Obamacare coverage.
A recent report by Kaiser/HRET Employer Health Benefits forecasts that the average family health care plan will cost $18,142, up 3.4% from 2015. That’s faster than wage growth in America.
Medical care costs altogether rose 1% just in August from July, according to the Consumer Price Index, a report on price inflation from the U.S. Labor Department.
Premiums on the Obamacare exchanges are expected to rise by double-digits this year.
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New York has revolted against a critical component of the Affordable Care Act: RiskAdjustment. If its revolt survives an almost certain legal challenge, a number of states are likely to double down on New York’s actions and remove one of the few remaining fingers holding Obamacare on to a cliff.
Acting under direction of its new Superintendant of Financial Services, Maria Vullo, New York has joined the chorus of those familiar with the program in contending that the federal Risk Adjustment program is backfiring. Critics say the program transfers too much money amongst insurers and is actually destabilizing the market. New York is the first state, however, to put money behind the critique.
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In new research published by the Mercatus Center, I analyze the causes and impact of the much higher-than-expected enrollment and spending associated with the Affordable Care Act (ACA) Medicaid expansion. Though unpredicted by Washington experts, the results were predictable. The federal government’s 100% financing of state spending on expansion enrollees has led states to boost enrollment and create high payment rates. (See this 2-minute Mercatus video for additional information on this significant development.)
In states that have expanded, enrollment and per enrollee spending are nearly 50% higher than predicted. While interest groups within the states—particularly hospitals and insurers—benefit from the higher spending being charged to federal taxpayers, substantial evidence suggests much of this new spending is wasted or provides little value for its intended recipients.
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