Obamacare rates shocker.

[75th]

Unexpected Health Insurance Rate Shock-California Obamacare Insurance Exchange Announces Premium Rates - Forbes

Keep in mind that the entire idea of the exchanges is to require health insurance companies to compete openly with one another by offering identical coverage programs in the three created classes—each offering insurance coverage that actually delivers meaningful protection to customers—and then openly disclosing the price each insurance company will charge for that policy. Thus, shoppers can clearly see which company has the best price on an apples-to-apples basis.

Upon reviewing the data, I was indeed shocked by the proposed premium rates—but not in the way you might expect. The jolt that I was experiencing was not the result of the predicted out-of-control premium costs but the shock of rates far lower than what I expected—even at the lowest end of the age scale.

The ACA kinda sucks in my opinion, but good on this conservative idea for using competition to bring rates lower than many expected.

 

[bigpokey]

There's gonna be a lot of people pissed off if obamacare is affordable.

 

[WoodyO]

What is Obamacare?

 

[75th]

There's gonna be a lot of people pissed off if obamacare is affordable.

lol

Doesnt make much sense, does it?

 

[75th]

What is Obamacare?

I thought it was another word for socialism.

Companies competing against each other. Consumers being provided more info on their choices and being able to make an informed decision. Sounds more like capitalism to me.

 

[ceo]

Hey 75th, can you get me this spongebob, please?

 

[jdynasty]

That means that the individual earning $17,235 (150 percent of the poverty line) only ends up paying a fraction of the $230 premium.The federal government picks up the rest of the tab.

So, I am all for people having insurance, but if the Federal government is picking up the rest of the tab, ultimately that means they will have to raise taxes, cut back on other programs, or eventually raise the premiums. Just does not seem sustainable.

 

[jnevin]

Just CA? Not the best example buddy.

 

[75th]

Just CA? Not the best example buddy.

California, Oregon and Washington so far...aka the states that are cooperating with the program and getting a jump on things. Plus, I figure the most populous (and probably most diverse) state would be a good barometer.

 

[75th]

That means that the individual earning $17,235 (150 percent of the poverty line) only ends up paying a fraction of the $230 premium.The federal government picks up the rest of the tab.

So, I am all for people having insurance, but if the Federal government is picking up the rest of the tab, ultimately that means they will have to raise taxes, cut back on other programs, or eventually raise the premiums. Just does not seem sustainable.

How much is spent every year covering people without insurance via their use of ERs?

Thats probably a tad less sustainable.