What's The Story With Health Care Cost Increases

[stewert]

O'Reilly is railing on and on about his health care premiums that went up 28 percent, and of course he blames it on the Obama health care plan. But here is my question, is it not true that health care insurance rates would have went up even more than that if Obama had not passed his health care plan.

I remember hearing something about a year ago about a health insurance company that wanted to raise premiums 60 percent, or something like that, does anyone know what company that was.

I know O'Reilly is spinning the story, but I do not know that much about it, so if anyone can give me some details I would appreciate it. I need some info to write a blog about it.

[MisterP]

1. how would a bill written by WellPoint and praised as protecting insurers' profits,

a bill that requires that everybody 25-65 be their customer and without even a token public option or any price controls or mechanisms therefore, keep rates down?

[napi21]

2. Not enough of the new HC plan has taken effect to have any

influence on the corp. rates. These co's are just doing what they've done for seveal years & raising rates at their whim There 's no way to know if they would ave gone p even more f there wouldn't have been any HC plan enacted.

There IS part of the new plan that forces the HC co's to justify their rate increases, but that hasn't gone into effect yet I can't recall if that will be next year or the year after that.

[Recursion]

4. Some states already push back at increases

MA and CA come to mind. In the case that got all the attention last month, CA pushed back a proposed 38% increase or something like that to 15%.

But, as a reminder, non-profit insurance companies raise rates too. And don't cost less than for-profit insurance plans. Getting health care costs a lot of money, and as long as that's true whatever private or social insurance system we use will cost a lot of money.

[Recursion]

3. Rates that are going up now were decided on last year

Before HCR was even passed.

Our health care delivery system costs too much. High insurance premiums are just a symptom of that.

[jaxx]

5. Some info for you....

Health Insurance Premium Grants: Detailed State by State Summary of Proposed Activities

On August 16, U.S. Department of Health and Human Services Secretary Kathleen Sebelius announced the award of $46 million to enhance States’ current processes for reviewing health insurance premium increases. Forty-five States and the District of Columbia applied for grants, and each will receive $1 million in grant funds to help improve the review of proposed health insurance premium increases, take action against insurers seeking unreasonable rate hikes, and ensure consumers receive value for their premium dollars. A list of States’ current health insurance rate review practices and a summary of their intended use of these new resources is below.

http://www.healthcare.gov/news/factsheets/rateschart.html


and



Health insurance companies warned not to blame hikes on health law
An investigation into the health insurers who are falsely hiking their costs will shortly be taking place. Those found to be making these false claims will be available for public view and not able to participate in the health insurance exchanges in 2014. This is the warning that was given to health insurers by Health and Human Services Secretary Kathleen Sebelius in a very strongly worded letter in response to the recent increase several companies are proposing.

She stated that there would be a zero-tolerance for those who blamed their increases on the new health care law. Representative Pete Stark, D-Calif., chairman of the House Ways and Means subcommittee on health, is also critical of the insurance industry. Stark stated the following on Wednesday, “Insurers are using the consumer protections in health reform as a cover for their own greed.”

http://www.emaxhealth.com/1272/health-insurance-companies-warned-not-blame-hikes-health-law

letter here> http://www.hhs.gov/news/press/2010pres/09/20100909a.html

[stewert]

7. jaxx..........

Thanks, that is pretty much what I was looking for.

[Scuba]

6. So just switch to the public option. Oh, wait. We couldn't even have that....

...or the insurance giants would be out of business in six months.

[Jax]

8. Yep, Scuba nails it.

Can't have those poor put upon insurance slime put out of business.

:thumbsup: