I recorded this to explain the penalty that will be imposed on anyone who does not follow the government mandate to purchase health insurance. While forcing people to buy health insurance is really not the best way to approach things, part of the purpose of this mandate is to bring in enough money to pay the claims of the unhealthy.
As things are being structure, this is not going to work.
The Senate Finance committee just approved a healthcare reform bill that is projected by the Congressional Budge Office (CBO) to cost $829 billion. They are even predicting that it will reduce the deficity by $81 billion.
Don’t believe it.
Since the actual bill has not been written yet, the CBO is estimating the cost based only on conceptual language. The CBO has acknowledged that the actual legislative language could result in significant changes in its estimates. Unfortunately for those of us who believe in honesty and transparency, the Democratic congressional leaders killed a requirement that the actual language of the bill be posted online at least 72 hours before Congress votes on it. (more…)
The Public Option is not really about what it purports to be about.
The Senate Finance Committee just approved the Baucus bill, effectively voting to raise health insurance premiums on most Americans. Wow!
A lot of people in Congress have never been in business, and are seemingly pretty clueless to how it all works.
But business owners get it. A poll in December found that 73% believed health care costs will increase if health care reform legislation is passed. And that was before the latest changes.
Anybody who has the slightest clue how insurance works also gets it. (more…)
Well, a lot of the Democrats are upset to find out that the plan they are pushing is going to cause rates to go up.
Have they thought about how ticked off people will be when they realize that this great healthcare solution that congress passed for them is making their health insurance even more unaffordable.
You’d think that would have some of them thinking twice about voting for this bill. But maybe there’s a scheme going on here. Because once this solution comes crashing down, the response will be that we need even more government involvement. (more…)
Sometimes, predicting the future is easy.
AHIP has now analyzed the provisions in the current healthcare proposal, and they’ve come to the same conclusion.
According to Karen Ignagni, AHIP’s president and chief executive, “The report makes clear that several major provisions in the current legislative proposal will cause health care costs to increase far faster and higher than they would under the current system. Between 2010 and 2019 the cumulative increases in the cost of a typical family policy under this reform proposal will be approximately $20,700 more than it would be under the current system.”
It does not take a sophisticated understanding of economics to see why rates will be going up rapidly. Here are the basics: (more…)
Why I like to call the senate bill the “Health Insurance Premiums Increase Bill.”
The Senate should be voting on a bill next week.
As it stands now, the bill mandates that starting in 2013 everybody must carry health insurance. It will be guaranteed issue, so everyone will be approved no matter what your health condition.
Typically, when coverage is guaranteed issue, the rates are much higher. In the five states that currently have guaranteed issue laws (New York, New Jersey, Massachusetts, New Hampshire, and Maine), rates are at least twice as expensive as here in Colorado where I live.
But to prevent this from happening, Congress will mandate that everyone carry coverage. That way the healthy people will be putting money in the system to pay for the bills of all the unhealthy people that will be having surgeries, getting medication, having tests run, and going to the doctor. (more…)
The real purpose of the public option is a total government take-over of health insurance, that will reduce, not increase, competition. There are much better ways to promote competition.
We’re getting close, folks. The Senate Finance committee will soon be voting on a bill, as will the House.
Here is what Greg Scandlen says is coming with whatever they do:
