#ObamaCare: Taxpayers bailout insurers, and more uninsured within 10 years?

Michael Ramlet writes:

We estimate that within 10 years, the number of uninsured Americans may increase by 10 percent. At the same time, premiums will rise faster than federal subsidies. The latter problem will be most severe when insurers release their 2017 rate increases in the summer and fall of 2016—perhaps the most awkward timing for the law’s supporters.

More: A 10-Year Prediction for the Affordable Care Act – NationalJournal.com.

See also Risky Business: Will Taxpayers Bail Out Health Insurers? by John R. Graham.

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Privatize #Medicare? The success of Medicare Advantage (Part C)

Health care economist John C. Goodman writes:

Paul Ryan proposed a private health insurance alternative to Medicare for future retirees, liberal critics pounced. It’s another scheme to undermine health care for the elderly by “privatizing” and “voucher-izing” the program, they said.

Yet, almost one third of seniors are already in private health insurance plans. They are called Medicare Part C, or Medicare Advantage, plans. And you would be hard pressed to find any Democratic office holder who wants to abolish them. The reason? Seniors choose to be in these plans because they like them better than traditional Medicare.

Read more: Let’s Privatize Medicare – John C. Goodman.

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#ObamaCare Update: premium increases, paperwork troubles, competition lowers prices, Congress exempt from own rules

From a recent NCPA Washington Update:

As the implementation of Obamacare moves forward, more people are buying insurance and many of the early problems that plagued the website seem solved. But public approval ratings remain dismal. Maybe it is the complex labyrinth of paperwork. Or the rising cost of premiums. Many businesses are still coping with the effects of the new health care law, while many individuals are still trying to send the right documents to the government.

It turns out that health insurance premiums tend to be more affordable in states with more competition among insurance companies. That is a predictable outcome based on what we learned in Econ 101. Another predictable conclusion: Congress will always try to play by their own rules. You may remember that the Obama Administration exempted Congress from a provision in the law that requires members of Congress and their staff to purchase health insurance in the Obamacare exchange without a taxpayer subsidy. That’s why Rep. Phil Gingrey (R-GA), Sen. David Vitter (R-LA) and other Republicans opposed the exemption. Now there are a group of Democrats who are introducing legislation that would require Congress to play by the same rules as everyone else. Just in time for the election.

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#ObamaCare harms small business

At Forbes.com, John C. Goodman writes:

In about a year and a half, the ObamaCare employer mandate kicks in. Firms with 50 or more employees will be required to provide expensive health insurance for their workers and their dependents or pay a fine of $2,000 per employee. What difference will that make? …

Something similar already exists in France, where firms that hire a 50thworker become subject to a 3,200 page labor code that makes it difficult to fire employees or reduce their hours or their pay during down turns. How are French employers responding? They are remaining small. In France there are more than twice as many companies with exactly 49 employees as there are with 50 or more.

More here.

See also: The Effects of the Affordable Care Act on Small Business.

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Obamacare Enrollment is Mostly Medicaid Expansion – program delivers lousy care & much fraud

Obamacare Enrollment is Mostly Medicaid Expansion,” writes John R. Graham.  This is bad news, considering the poor quality of medical care available to Medicaid enrollees and the rampant fraud.

See also:

The Medicaid Mess: How Obamacare Makes It Worse, by Avik Roy, Senior Fellow, Manhattan Institute

What Medicaid Fraud Looks Like: Mansions, Sports Cars, Klingon Battle Swords, and 30,000 Dubious Claims, by Peter Suderman, Reason.

 

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#ObamaCare predictions from ~2010: Whose #ACA calls were correct?

Charles Blahous of the Mercatus Center and Hoover Institution describes how the ObamaCare he made in 2010 have proved correct, and the predictions of Obamacare supports have proved false. The predictions include:

  1. States will make a variety of decisions with respect to expanding Medicaid.
  2. Expanding Medicaid will cost the states money, in part because of the “woodwork effect.”
  3. The ACA will significantly worsen the federal budget deficit.
  4. Expanding health insurance coverage will increase health service consumption and costs.
  5. There was a substantial risk that cost savings projected for several ACA provisions would not fully materialize.

Read more: I Was Right About the ACA | e21 – Economic Policies for the 21st Century.

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Left on #ObamaCare: high insurance premiums don’t matter, as other people will pay for it

At Forbes, Avik Roy writes:

Over the past twelve months, there has been an energetic debate among health policy researchers about the extent to which Obamacare will increase the underlying cost of individually-purchased health insurance: what observers have come to call “rate shock.” Yesterday, the Manhattan Institute published the most comprehensive study yet on the topic, analyzing premium data from 3,137 U.S. counties, and finding an average rate hike of 49 percent. In response, left-wing bloggers are trying out a new talking point: that rate shock doesn’t matter, because taxpayer-funded subsidies will bear the higher costs.

There are a number of reasons why the underlying cost of health insurance matters.

Read more: Left: Obamacare Rate Shock Doesn’t Matter, Because Other People’s Money Will Pay For It – Forbes.

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