insurance premiums

Barack Obama is the middle class’ biggest enemy

Some of the best intentioned among us may think regulations indeed serve a greater purpose, after all, certain companies are only in it to make as much as they can with as little effort as they can! Somebody should certainly make sure they are working under strict rules so this type of predatory behavior can be avoided and consumers can be protected.

Well, that’s everything regulations promise to do and the exact opposite of what they actually achieve.

A recent study carried out by American Action Forum demonstrated that the increase in consumer prices under the Obama administration is directly linked to the surge in the number of regulations it has adopted.

The study shows that since 2009, this administration has imposed at least 36 new regulations that range from new fuel-efficiency standards, which resulted in an increase in the price of automobiles by $91, to the cost of mortgages, which has risen to an abysmal $362 annually.

ObamaCare, this administration failure disguised as health care law, has also increased the prices of health care insurance.

Off-exchange health plans see 39% to 56% premium increase from 2013

The National Center for Public Policy Research (NCPPR) released a study earlier this week finding that Americans looking to purchase health insurance on the state and federal Obamacare exchanges would find higher premiums and less choice than plans available last year on private exchanges.

The findings in the study aren’t surprising given that Obamacare mandates a number of changes to health insurance, including minimum benefits and actuarial requirements, all of which result increase the cost of coverage. Though the NCPPR offered some insight into the higher costs consumers face, it didn’t offer much in real dollars being spent on health insurance coverage compared to 2013 plans.

eHealthInsurance.com (eHealth), however, has released data that does provide some insight into how much consumers are paying for off-exchange health plans compared to a year ago. Despite a multitude of promises that Obamacare would make health coverage more affordable, the eHealth study proves otherwise.

“As of February 24, 2014, the average premium for an individual health plan selected through eHealth without a subsidy was $274 per month,” the nation’s first and largest private exchange noted in a recent press release, ”a 39% increase from the average individual premium for pre-Obamacare coverage.”

Jay Carney admits President Obama lied to Americans about Obamacare

During his daily briefing with reporters, White House Press Secretary Jay Carney was pressed on President Barack Obama’s promise that Americans could keep their health insurance plan under Obamacare after an admission by former White House advisor David Axelrod that some will, indeed, lose their coverage.

Ed Henry, a correspondent from Fox News, pointedly asked Carney about Axelrod’s comments and challenged him to admit that what President Obama said wasn’t true.

“The President, when he was trying to get the law passed, repeatedly said, if you currently have health insurance you will be able to keep your plan,” noted Henry. “This morning David Axelrod was pressed on that point and said, the majority — the vast majority — will be able to keep their plans. He no longer works at the White House.”

“From the podium, will you admit that when president said, if you have a plan, you’ll get to keep it, that that was not true?” asked Henry.

“Well, let’s just be clear, what the President said and what everybody said all along was that there were going to be changes under brought about by the Affordable Care Act that create minimum standards of coverage — minimum services that every insurance plan has to provide,” said Carney.

Wisconsin Republican proposes “If You Like Your Health Plan, You Can Keep It Act”

Ron Johnson

Back in 2009, as he was beginning the push for his so-called “healthcare reform” law, President Barack Obama promised Americans that they would be able to keep health insurance plan. “No one will take it away,” he said. “No matter what.”

That promise has turned out has turned out to be a lie, as hundreds of thousands of people have lost their health insurance because their plans weren’t compatible with the mandates implemented under Obamacare. Many will now be left to find more costly plans with benefits that they may not want or need.

Sen. Ron Johnson (R-WI) is hoping to fix this very real and serious problem. He’s proposed the “If You Like Your Health Plan, You Can Keep It Act,” which will give Americans the opportunity to retain the health insurance plan they had before Obamacare took it away from them.

“One of the most important promises made by President Obama and Democrat congressional leadership to promote the Affordable Care Act was that Americans who were satisfied with their health plans could keep them,” said Johnson in a statement from his office. “That promise has been broken. More than a million Americans have been notified that the plans they like with the coverage they have chosen have been canceled. Millions more Americans will have the plans of their choice canceled in months to come.”

Senate Republicans ask White House to “permanently delay” ObamaCare

A little more than a week after the Treasury Department announced that it would delay the employer mandate and reports of further problems with implemention, Senate Republicans sent a letter to the White House yesterday asking that President Obama “permanently delay” ObamaCare for all Americans.

“We write to express concern that in your recent decision to delay implementation of the employer mandate, you have unilaterally acted and failed to work with Congress on such a significant decision,” said Senate Republicans in letter signed by all 45 members party’s caucus. “Further, while your action finally acknowledges some of the many burdens this law will place on job creators, we believe the rest of this law should be permanently delayed for everyone in order to avoid significant economic harm to American families.”

“In response to questions about the administration’s decision, your senior advisor Valerie Jarrett said, ‘We are listening,’ while referring to the concerns of the business community over the onerous employer mandate that will result in fewer jobs and employees working fewer hours,” they continued. “We have been listening as well, and as more employers have attempted to understand your burdensome requirements in the Affordable Care Act, the louder their outrage has become.”

Surprise! Obamacare “enrollees” aren’t making premium payments

Many of the purported Obamacare enrollees aren’t making their insurance premium payments. While the Obama administration touted the 8 million sign ups when the first open enrollment period, the House Energy and Commerce Committee reported in May that 20 percent of those consumers hadn’t paid their premiums as of mid-May.

But one major health insurers participating in the Obamacare exchanges has indicated that the number of customers not paying their premiums is a little higher, according to a report from Investor’s Business Daily:

The nation’s third-largest health insurer had 720,000 people sign up for exchange coverage as of May 20, a spokesman confirmed to IBD. At the end of June, it had fewer than 600,000 paying customers. Aetna expects that to fall to “just over 500,000” by the end of the year.

That would leave Aetna’s paid enrollment down as much as 30% from that May sign-up tally.

“I think we will see some attrition … We’re already seeing it. And we expect that to continue through the end of the year,” CEO Mark Bertolini said in a July 29 conference call.
[…]
[A]s one of ObamaCare’s largest players, participating in exchanges in 16 states plus D.C., Aetna’s experience provides a pretty good window into what is happening across the country, and there are other indications that enrollment has turned down.

Thanks, Obamacare!: Individual health insurance premiums skyrocketed in California, and young people were the hardest hit

Aetna CEO Mark Bertolini acknowledged this week that Obamacare plans are “really not an affordable product for a lot of people.” He wasn’t kidding. The Los Angeles Times reports that individual health insurance premiums have skyrocketed in California, in some cases doubled, over last year’s rates:

For 2014, consumers purchasing individual policies paid between 22% and 88% more for health insurance than they did last year, depending on age, gender, type of policy and where they lived, [California Insurance Commissioner Dave] Jones said Tuesday.
[…]
For 2014, consumers purchasing individual policies paid between 22% and 88% more for health insurance than they did last year, depending on age, gender, type of policy and where they lived, Jones said Tuesday.

“The rate increase from 2013 to 2014, on average, was significantly higher than rate increases in the past,” Jones said in a news conference in Sacramento.

The hardest-hit were young people, he said. In one region of Los Angeles County, people age 25 paid 52% more for a silver plan than they had for a similar plan the year before, while someone age 55 paid 38% more, according to a report that Jones released Tuesday.

Cronyism: White House advisor intervened to expand Obamacare’s health insurance bailout to limit dramatic premium increases

Barack Obama and Valerie Jarrett

The House Oversight and Government Reform Committee has uncovered correspondence between White House advisor Valerie Jarrett and a health insurance company executive after he gave a “heads-up” that the Obamacare bailout wouldn’t be enough to avoid the “unwelcome surprise” of higher than expected premium increases.

Chet Burrell, President and CEO of Care First Blue Cross Blue Shield, reached out to Jarrett on April 4 at 10:20 am to bring the issue to her attention. Katherine Branch, the White House advisor’s assistant, replied less than 30 minutes later to ask if he was available to talk to Jarrett later that afternoon.

Burrell and Jarrett apparently had that little chat. He followed up the next day with a summary of the issue he talked with her about. The document attached in the email expressed concern over the budget neutrality of Obamacare’s “risk corridor” program, known to many as the insurer “bailout.”

The risk corridor program guarantees payments from the from the federal government to insurers if the risk pool isn’t properly balanced with the young and healthy people who are intended to offset the costs of sick and unhealthy consumers. The payments come from a fund into which insurers contribute, and it was originally scored as budget-neutral, meaning that there wouldn’t be any cost to taxpayers.

Given the unlikelihood of many insurers contributing to the program due to unbalanced risk pools, Burrell suggested that insurance premiums would rise, and spark a negative public reaction, unless the administration was willing to “clarify” (read: provide more funding) the bailout rule.

Obamacare train wreck update: Enrollees who automatically re-enroll could be left with an unwelcome surprise next year

The Department of Health and Human Services (HHS) announced in June that it would allow consumers to automatically re-enroll in their Obamacare plan for 2015, saying at the time that it would simplify the process for those who were happy with their government-mandated coverage.

Well, as it turns out, that HHS may be setting up millions of Obamacare consumers for a big headache next year:

Automatic renewal was supposed to make the next open-enrollment under President Barack Obama’s health care overhaul smooth for consumers.

But unless the administration changes its 2015 approach, “they’re setting people up for large and avoidable premium increases,” said researcher Caroline Pearson, who follows the health law for the market analysis firm Avalere Health.

It could be a new twist on an old public relations headache for the White House: You keep the health plan you like but get billed way more.

Part of this deals with the changes to benchmark plans. As it is right now, the second-lowest cost “silver plan” is the benchmark to which subsidies are tied. Avalere Health recently found that the benchmark silver plan will lose that status in 2015 in six of the nine states it analyzed. The problem is the benchmark plan will change in many areas of the country, meaning that customers will have to pay more to keep their plans.

Today in Liberty: Economy shed 523,000 full-time jobs in June, conservative groups take IRS scandal to federal court

“Governments never learn. Only people learn.” — Milton Friedman

— Yeah, about June’s jobs report: On Thursday, the Bureau of Labor Statistics reported that 288,000 jobs were added in June. That sounds great on the surface, but the devil is in the details. “The Labor Department’s household survey reveals that the economy lost 523,000 full-time jobs in June. At the same time, it gained an astounding 799,000 part-time jobs - the largest such monthly jump in two decades. Part-time jobs now top 28 million for the first time since last July,” the Washington Examiner notes. “This shift to part-time labor is an echo from June 2013, when the economy added 360,000 part-time jobs and shed 240,000 full-time ones. So why has history thus seemingly repeated itself? One possibility is that Obama decided last July to delay Obamacare’s employer mandate from 2014 to 2015.” Interestingly, Politico ran a story over the weekend pointing out that many Obamacare supporters are now “abandoning the employer mandate” because the provision of the law does “more harm than good.” The relevant data from the June jobs report can be found here (under “full- or part-time status”).


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