HMOs may hike premiums, slash jobs under reform

[Ivanka]

Source: Reuters

The U.S. House of Representatives approved the reform legislation late on Sunday, climaxing a year of uncertainty over the overhaul that cast a long shadow over the health insurance industry's future. The overhaul faces expected approval in the Senate later this week while a legal threat looms from at least 11 states.

Should the changes become law, they create myriad pressures -- some almost immediately -- on the industry's ability to maintain its profitability.

While many of the provisions and fees based on market share do not kick in until 2014, some analysts expect insurers will act soon to shore up margins.

"All of this is going to cause the cost of healthcare insurance premiums to skyrocket massively," Collins Stewart analyst Brian Wright said.

Read more: http://www.reuters.com/article/idUSTRE62L5CE20100322

[Hawkeye-X]

1. And should lead to legislation to provide single payer heath care,

NOT INSURANCE!

[jtrockville]

2. Let's hope so. Single-payer is the only way to contain costs.

[superduperfarleft]

5. Single-payer is insurance. n/t

[frazzled]

3. You know what? It's the law now ... give it up

You lost.

The industry will be able to maintain its profitability nicely by the time everyone becomes insured in 2014 and beyond. If the insurance companies try to hike their rates irrationally before the exchanges are up, they won't be allowed to participate in them, and then they will pay the price themselves.

I'm singularly unimpressed with these "scare" tactics.

[thotzRthingz]

17. re: "by the time everyone becomes insured in 2014 and beyond"

Ummm, nice thought... if only it were true.

The CBO estimated that:

* without this reform (i.e., the Senate Bill), by 2019, there would be 54 million UNinsured

* with this reform, by 2019, there will be some 23 million UNinsured

- source: CBO.GOV -- http://tinyurl.com/ybjs5fc (I shortened this URL to work despite various FORUM or BROWSER limitations)

Click the link... in the far right column, scroll down to page 22 and select it... the left column should then JUMP TO the actual figures.

IOW: that's how the HCR bill will cover some 31 (54 - 23) million UNinsured, but it does not provide for insuring everyone... far from it, by the CBO's own estimates.

[laughingliberal]

19. So, it's over?

What about all those changes we were going to be able to work for after we passed the bill? What about this is just a first step?

"Give it up...You lost" sounds as if some are perfectly happy with this and the rest need to STFU and take what they got.

edited punctuation in headline

[pampango]

4. "the changes... create myriad pressures on the industry's ability to maintain its profitability."

That's a big boo-hoo.

[superduperfarleft]

6. Oh, bull.

While I'm interested to see how the MCR limits impact rising premiums, I think "skyrocket" is a complete exaggeration, and pulling a chicken little about lost jobs is a bit premature.

[YOY]

7. Ah Vanka...kakvo mislish che pokazvish/pravish?

Nekoi ne se puka za tvoite glupusti...zagubihte...fakt e.

[Rozlee]

8. My Klingon is rusty, but I totally agree with you.

[CLANG]

9. I believe that was Navi'

[YOY]

13. Actually it was Bulgarian.

Of course 'Ivanka' could be Russian. In which case.

K sazhalenyu Ivanka...Vui ne vuigrali zdec...I znaesh vsyo katorie kazvaesh pulinie glupusti.

No eta Zhizn.

[CLANG]

16. Could also be Navi' - I would need to see your translation

[YOY]

14. It's a real language. Klingon is not.

I speak several languages...all of them are very real.

[MindandSoul]

10. The more private insurance show that they are only in it to

get every penny out of the sick (and the potentially sick. . .which is ALL of us!), the more they will make it NECESSARY and LOGICAL to move toward a strong competition with a public option.

So. . . maybe they'll have a couple of years, or even a few years of "great money grabbing time," but at the same time they are digging their grave faster and faster!

[Ganja Ninja]

11. "may hike premiums"?

They have a lot of nerve to act like that wasn't already out of control. Go ahead and hike away. Half the public is already clamoring for a single payer system. The threat of higher premiums is only going to make the call louder.

[shotten99]

12. That's why there's still time to ask the Senate to put cost caps in place

[thotzRthingz]

18. re: "That's why there's still time to ask the Senate..."

I agree, we need to ask the Senate to make a plethora of changes (I would be for them to adopt, completely, the HOUSE's version of the bill)! ;-)

Just keep in mind: if the Senate changes even one thing... the HOUSE will have to vote on it again.

[woo me with science]

15. Gee, I thought the whole point of this reform was to make coverage more affordable.

Go figure.

[laughingliberal]

20. HMO's were a fucking right wing bullshit idea that should have died long ago

Boo-fucking-hoo.

[area51]

21. Rates may skyrocket?

Who would've guessed, that giving serial-killer private, for-profit insurance companies power over just about every American citizen wouldn't lead to this.

[Javaman]

22. gots to love them hit and run posters. nt

[HughBeaumont]

23. More like "hit and DROPPED" poster.

That didn't last long.

Ivanka Trump, BTW, is one of the biggest laissez-fail bootshiners. You ought to hear Wharton School Barbie on CNBC sometimes, shilling Friedman/Hayek-isms like hot cakes.

[Javaman]

24. Mods on top of things. :) nt

[HughBeaumont]

27. Yes . . . they are!

http://www.democraticunderground.com/discuss/duboard.php?az=user_profiles&u_id=216227

[kctim]

25. May?

:rofl:

[Romulox]

26. This is how capitalism works, folks. You wanted a deal with the devil....nt