Smaller premium hikes forecast in 2015 for Obamacare

[Mr. Big Dog 10,747]

Just in time. Now that Republicans have once again passed legislation to not only cement the savings to Medicare they so vocally criticized the ACA for undertaking but to eliminate Medicare for folks under 55, the ACA appears to show that it will work. Rather than the 300% premium hike nonsense that made its way through the right wing echo chamber recently, the premium increases are now estimated to be more in the 3% range - the lowest increases in ages. But Republicans still want to repeal the ACA - in fact, they just voted the 56th time to do that - and bring back millions more uninsured and annual double digit premium increases. Good Luck with that message. Worked out well for Mittens, didn't it?

Smaller premium hikes forecast in 2015 for Obamacare

By JENNIFER HABERKORN and BRETT NORMAN | 4/14/14 5:12 PM EDT

Insurance premiums under Obamacare are projected to rise less than 3 percent in 2015, a smaller-than-expected jump as the health insurance exchanges enter their second year.

The CBO and Joint Committee on Taxation released a series of new estimates Monday on the law’s costs and the number of people it will cover. The figures show that 12 million more Americans will have health coverage in 2014 than would have been the case without Obamacare — down from a February projection of 13 million because of a dip in expected Medicaid enrollment.

Many Republican critics of the ACA have sharply questioned whether the program is reaching the nation’s uninsured.

Coverage through the law will cost the federal government about $5 billion less than expected this year. And overall, the law’s 10-year cost for the coverage provisions is pegged at $1.383 trillion — $104 billion less than prior calculations. Both figures are lower than prior estimates mostly because the CBO and JCT anticipate premium subsidies being smaller.

Read more: http://www.politico.com/story/2014/04/obamacare-premium-increase-2015-105685.html#ixzz2yxzKKOGw

[We Keep Receipts 9,238]

Just in time. Now that Republicans have once again passed legislation to not only cement the savings to Medicare they so vocally criticized the ACA for undertaking but to eliminate Medicare for folks under 55, the ACA appears to show that it will work. Rather than the 300% premium hike nonsense that made its way through the right wing echo chamber recently, the premium increases are now estimated to be more in the 3% range - the lowest increases in ages. But Republicans still want to repeal the ACA - in fact, they just voted the 56th time to do that - and bring back millions more uninsured and annual double digit premium increases. Good Luck with that message. Worked out well for Mittens, didn't it?

Haven't you learned yet? You can't get an Obama thread going unless you're bashing him.

[Mr. Big Dog 10,747]

Haven't you learned yet? You can't get an Obama thread going unless you're bashing him.

Yeah, my bad.

This is why I didn't start a thread on the news that the deficit this year - at 2.8% of GDP - is projected not only to be the smallest since 2007 but below the 40 year average of 3.1% and set to shrink further in 2015 through 2018. Obama is set to bequeath a deficit in the neighborhood of 2.5% of GDP to his successor. That's pretty impressive. The last guy inherited a surplus and handed down a deficit of 10% of GDP. But hey, that's no material to bash Obama on so not worth talking about.

Edited April 15, 2014 by Mr. Big Dog

[Pooky 3,906]

It's hard to sustain extravagant increases in premiums for more than a year, or so.

Up 100% in Delaware? 53% in California? http://www.forbes.com/sites/scottgottlieb/2014/04/07/health-plan-premiums-are-skyrocketing-according-to-new-survey-of-148-insurance-brokers-analysts-blame-obamacare/

The insurance companies right now are making out like bandits, whatever they might say publicly. And it didn't have to be this way.

[deleted-05292014 331]

The insurance companies right now are making out like bandits, whatever they might say publicly. And it didn't have to be this way.

Well if you can't beat em.....get paid off them and invest in healthcare stocks

[Pooky 3,906]

Well if you can't beat em.....get paid off them and invest in healthcare stocks

It's the politicians that will get paid off by them that should be a concern.

[luckytxn 2,265]

I know in a few years time my premiums have doubled. Be nice if next years were lower.

The pigs at this trough are greedy.

It's hard to sustain extravagant increases in premiums for more than a year, or so.

Up 100% in Delaware? 53% in California? http://www.forbes.com/sites/scottgottlieb/2014/04/07/health-plan-premiums-are-skyrocketing-according-to-new-survey-of-148-insurance-brokers-analysts-blame-obamacare/

The insurance companies right now are making out like bandits, whatever they might say publicly. And it didn't have to be this way.

[Mr. Big Dog 10,747]

It's hard to sustain extravagant increases in premiums for more than a year, or so.

Up 100% in Delaware? 53% in California? http://www.forbes.com/sites/scottgottlieb/2014/04/07/health-plan-premiums-are-skyrocketing-according-to-new-survey-of-148-insurance-brokers-analysts-blame-obamacare/

The insurance companies right now are making out like bandits, whatever they might say publicly. And it didn't have to be this way.

It's hard to take what you quote seriously since it compares apples to oranges and then generates outrage over the fact that oranges aren't as red as apples.

[Karee 4,191]

Pretty interesting. If the premiums go way up, it's the insurance companies gouging people and not Obama's fault. If the premiums rise by a small percentage, then Obama can take credit and Obamacare is a success.

[Teddy B 17,252]

Yeah, my bad.

This is why I didn't start a thread on the news that the deficit this year - at 2.8% of GDP - is projected not only to be the smallest since 2007 but below the 40 year average of 3.1% and set to shrink further in 2015 through 2018. Obama is set to bequeath a deficit in the neighborhood of 2.5% of GDP to his successor. That's pretty impressive. The last guy inherited a surplus and handed down a deficit of 10% of GDP. But hey, that's no material to bash Obama on so not worth talking about.

But he's the worst President in history you know.

[Mr. Big Dog 10,747]

But he's the worst President in history you know.

Exactly. Any facts to the contrary must thus be ignored.

[UncleBeer 244]

If the premiums go way up, it's the insurance companies gouging people and not Obama's fault. If the premiums rise by a small percentage, then Obama can take credit and Obamacare is a success.

The preznit's managed to remain "the outsider", even after almost 6 years in office, and you can thank the "low information voters" for that.. While it's become clear his "blame GWB" schtick doesn't work any more (except on his most die-hard sycophants), he holds the results of his own destructive policies at arm's length; demonizing and vilifying Republicans for (eg.) not cheering loudly enough for Obamacare (with whom he didn't bother to consult, and from whom he didn't bother to garner legislative support).

"Blamer in Chief" might be more appropriate.

[Teddy B 17,252]

The preznit's managed to remain "the outsider", even after almost 6 years in office, and you can thank the "low information voters" for that.. While it's become clear his "blame GWB" schtick doesn't work any more (except on his most die-hard sycophants), he holds the results of his own destructive policies at arm's length; demonizing and vilifying Republicans for (eg.) not cheering loudly enough for Obamacare (with whom he didn't bother to consult, and from whom he didn't bother to garner legislative support).

"Blamer in Chief" might be more appropriate.

And the only way he got elected twice was because of voter fraud.

I voted for Obama 6 times.

Edited April 16, 2014 by Teddy B

[JohnR! 5,495]

Pretty interesting. If the premiums go way up, it's the insurance companies gouging people and not Obama's fault. If the premiums rise by a small percentage, then Obama can take credit and Obamacare is a success.

That is quite possibly the result of the motley crew and the GnOP crying bloody murder and predicting a shift in the Earths axis if the ACA were enacted. As it turns out, insurance premiums increased as much as they have been increasing for as long as there have been health insurance premiums, the Earth continues its merry way around the Sun and the world did not come to an end. Therefore, in a way, the same people who predicted Armageddon as the result of the ACA must now bite their tongues..

[UncleBeer 244]

This should cheer you guys up:

Consumers reeling from Obama­Care premium shock are in for another jolt when the 2015 rates come out.

Overall, consumers had to pay far more for individual plans this year. In some states (Delaware and New Hampshire), rates went up 90 percent or even 100 percent, according to a newly released Morgan Stanley analysis.

And insurance executives already are warning about double- or triple-digit hikes for next year. “I do think it’s likely premium-rate shocks are coming,” said Chet Burrell, CEO of Care First BlueCross BlueShield. Aetna CEO Mark Bertolini, one of the first to raise the alarm, said increases “could go as high as 100 percent.”

In most states, insurers will be setting their 2015 rates in June, but the administration is doing everything possible to keep the grim news under the radar until after the November elections. It even postponed the beginning of the open enrollment period until Nov. 15.

November 15th you say? What a coincidence! Why, that's just after the midterm elections.

Or this:

WellPoint Inc. (WLP), the biggest commercial insurer in the health law’s exchanges, said last month it may seek “double-digit plus” premium increases for 2015. While many other insurers have declined to comment on next year’s rates, large price increases may chase people away in Year 2 of Obamacare, giving foes impetus to push changes.

Ah, those pesky "foes".

And this:

A recent survey of 148 insurance brokers shows that ObamaCare is sending premiums rising at the fastest clip in decades.

"For the last, about, five years they've been doing this survey, so this was the largest percentage increase in any quarter since they've been doing (it)," said Scott Gottlieb of the American Enterprise Institute.

"But at 12 percent, 11 percent increase on average across all the states -- that puts it at the upper end of any increase we've seen for decades."

That is the national average in a survey done by Morgan Stanley. But in some states, it found rates are soaring.

"There are specific states with exorbitant increases," Gottlieb said. "Delaware had 100 percent increase, Florida had a 37 percent increase, Pennsylvania 28 percent increase, California had a 53 percent increase in their premiums."

But wait: didn't that nice man promise a $2500 drop in premiums? What happened to that guy? Is he still around so I can vote for him some more?