Health Plan Cost for New Yorkers Set to Fall 50% because of ObamaCare

[ShcShc11 0]

http://money.cnn.com/2013/07/17/news/economy/obamacare-health-insurance-new-york/index.html?hpt=hp_t2

Unless the GOP finds even more ways to sabotage the plan, this thing is going to work, it’s going to be extremely popular It is a system that worked pretty well in Massachusetts and it is going to continue to work.



From the NYTimes:
''Individuals buying health insurance on their own will see their premiums tumble next year in New York State as changes under the federal health care law take effect, Gov. Andrew M. Cuomo announced on Wednesday.''

Cheers!
Shc

[Gravitymaster 0]

According to who?

[kelpdiver 2]

the proof will come when people can actually buy. $300/month for a plan that only covers 70% of expenses seems pretty overpriced to me, and I'm in California. Just a couple years ago that paid for a decent group PPO. And that's the thing - the individual market is all over the map in pricing, and usually bad. Group plans are what the comparison should be made to, in order to rate the cost effectiveness.

That said, individuals without access to group plans should be thrilled to be escaping the reality of the past. These prices should be an improvement. Will they be as good as having coverage from an employer? That's the question that I'm interested in, and remains to be seen.

[airdvr 197]

But the steep drop in rates in New York will likely not be mirrored in many other states. That's because New York is one of the few that already required many of the benefits of Obamacare, which left its individual market filled with a small pool of sicker residents and very high costs. Only 17,000 New Yorkers buy their own insurance right now, while 2.6 million people lack coverage.

Might have overlooked that tidbit.

Please don't dent the planet.

Destinations by Roxanne

[ShcShc11 0]

Gravitymaster

According to who?

Let's go back to the original problem with the old system (pre-2008):
The problem was that this created a death spiral: young, healthy people didn’t buy insurance, worsening the risk pool, driving up premiums, driving out more relatively healthy people, etc., until you were left with a rump of very ill people paying unaffordable high rates and insurance companies have to play games with doctors and ill patients in order to recuperate their money.

I can understand you don't like Obama (and that's fine), but from a purely economic viewpoint, the old system did not make sense.

[lawrocket 3]

Funny. As a 40 year old non-smoker in Cali, my least expensive coverage option will rise from an average of $121 a month to an average of $261 a month — a 116-percent increase.

If "making sure everybody pays more for less so you can tell people they are getting more for paying less" is your goal, then this certainly will work.

My wife is hotter than your wife.

[tkhayes 124]

Quote

my least expensive coverage option will rise from an average of $121 a month to an average of $261 a month — a 116-percent increase.

Instead of posting your 'least expensive coverage option', which supports your argument against the plan, how about you post your REAL LIFE option that you will actually buy compared to what you have now.

That would mean something.

[Gravitymaster 0]

ShcShc11

***According to who?

Let's go back to the original problem with the old system (pre-2008):
The problem was that this created a death spiral: young, healthy people didn’t buy insurance, worsening the risk pool, driving up premiums, driving out more relatively healthy people, etc., until you were left with a rump of very ill people paying unaffordable high rates and insurance companies have to play games with doctors and ill patients in order to recuperate their money.

I can understand you don't like Obama (and that's fine), but from a purely economic viewpoint, the old system did not make sense.

So according to you?

[winsor 185]

ShcShc11

http://money.cnn.com/2013/07/17/news/economy/obamacare-health-insurance-new-york/index.html?hpt=hp_t2

Unless the GOP finds even more ways to sabotage the plan, this thing is going to work, it’s going to be extremely popular It is a system that worked pretty well in Massachusetts and it is going to continue to work.



From the NYTimes:
''Individuals buying health insurance on their own will see their premiums tumble next year in New York State as changes under the federal health care law take effect, Gov. Andrew M. Cuomo announced on Wednesday.''

Cheers!
Shc

I am routinely amazed at the innumeracy rampant in this society, of which the ACA is a shining example.

Gullibility makes it a perfecta.

[lawrocket 3]

tkhayes

Quote

my least expensive coverage option will rise from an average of $121 a month to an average of $261 a month — a 116-percent increase.

Instead of posting your 'least expensive coverage option', which supports your argument against the plan, how about you post your REAL LIFE option that you will actually buy compared to what you have now.

That would mean something.

Oh. You mean the one that had I kept I would have gotten taxed because I was too well insured? My "cadillac plan?"

Right now it's a hair under $16k for insurance per year. It looks like it'll be closer to $19k or $20k. Why? Because more money is needed to pay for the family of 4 with two parents with diabetes, obesity, nicotine use and COPD. So that instead of that family spending $35k per year (closer to what that family costs) that person spends what we spend.

Who gets a break on health insurance? The chronically ill. Who gets hosed? The healthy. The young. All so that those who take care of ourselves are treated as equals to those who kill themselves slowly.

My wife is hotter than your wife.

[champu 1]

For reference, I have an Anthem Blue Cross group plan through my employer... I've made no changes to it since the end of 2010, the only difference in the plan has been the mandated removal of the lifetime cap (which was $2M for my plan iirc.)

From 2011 to 2012 my contribution went up 3.56% (*4.86%)
From 2012 to 2013 my contribution went up 10.39% (*7.06%)
From 2013 to 2014 my contribution went up 15.64% (*24.39%)

(*parenthetical numbers are if I include the sum total of medical, dental, and vision coverage in the calculations)

I only have one data point so far for the "DD" code in box 12 of my W-2 so I'm unable to make a similar comparison of the total plan cost.

[devildog 0]

tkhayes

Quote

my least expensive coverage option will rise from an average of $121 a month to an average of $261 a month — a 116-percent increase.

Instead of posting your 'least expensive coverage option', which supports your argument against the plan, how about you post your REAL LIFE option that you will actually buy compared to what you have now.

That would mean something.

Why is a lesser expensive option not a real life plan? There are quite a number of financial gurus and sound strategies that suggest you should *ONLY* be carrying insurance for catastrophic coverage and pay the rest out of pocket with cash. Even with regular visits and the occasional visit here and there, you'll still come out ahead.

You stop breathing for a few minutes and everyone jumps to conclusions.

[DaVinci 0]

tkhayes

Quote

my least expensive coverage option will rise from an average of $121 a month to an average of $261 a month — a 116-percent increase.

Instead of posting your 'least expensive coverage option', which supports your argument against the plan, how about you post your REAL LIFE option that you will actually buy compared to what you have now.

That would mean something.

Comparing apples to apples means something to most people who understand statistics.

http://www.forbes.com/sites/theapothecary/2013/06/23/even-in-over-regulated-washington-state-obamacare-will-increase-individual-market-premiums-by-34-80-percent/

http://www.forbes.com/sites/theapothecary/2013/05/30/rate-shock-in-california-obamacare-to-increase-individual-insurance-premiums-by-64-146/

[Croc 0]

What does "innumeracy" mean and what is the ACA?

"Here's a good specimen of my own wisdom. Something is so, except when it isn't so."

Charles Fort, commenting on the many contradictions of astronomy

[winsor 185]

Croc

What does "innumeracy" mean and what is the ACA?

Think "illiteracy" w.r.t. numbers. Obamacare.

[Croc 0]

I suspect you are correct. Nevertheless it does make sense to me that everyone should be required to buy health insurance.

"Here's a good specimen of my own wisdom. Something is so, except when it isn't so."

Charles Fort, commenting on the many contradictions of astronomy

[rushmc 18]

Croc

I suspect you are correct. Nevertheless it does make sense to me that everyone should be required to buy health insurance.

No, it does not

"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln

[rushmc 18]

ShcShc11

http://money.cnn.com/2013/07/17/news/economy/obamacare-health-insurance-new-york/index.html?hpt=hp_t2

Unless the GOP finds even more ways to sabotage the plan, this thing is going to work, it’s going to be extremely popular It is a system that worked pretty well in Massachusetts and it is going to continue to work.



From the NYTimes:
''Individuals buying health insurance on their own will see their premiums tumble next year in New York State as changes under the federal health care law take effect, Gov. Andrew M. Cuomo announced on Wednesday.''

Cheers!
Shc

this must be exception due to high rates to begin with
This plan will fold under its own wieght due to situations like this

Quote

State says Obamacare will force 72 percent increase in individual insurance plan rates

http://www.indystar.com/article/20130718/BUSINESS/307180100/State-says-Obamacare-will-force-78-percent-increase-individual-insurance-plan-rates?gcheck=1&nclick_check=1

More the norm
Your info, if really true, is not typical

The GOP need do nothing
this is a fucked up plan to begin with

Quote

“This new data regrettably confirms the negative impact of the Affordable Care Act on the insurance market in Indiana,” he said. “The Affordable Care Act requires many Hoosiers to purchase more comprehensive and more expensive health insurance than they may want or need. These rates call into question just how affordable health insurance will really be for many Hoosiers.”

Costs for individual plans is expected to increase from an average of $255 per member per month in 2012 to $570 in 2014, when the most aspects of the law go into effect.

"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln

[DaVinci 0]

Croc

I suspect you are correct. Nevertheless it does make sense to me that everyone should be required to buy health insurance.

You think the govt should be allowed to force citizens to buy a product from a company?

[tkhayes 124]

they already do. I am forced to pay taxes to buy billions and billions of dollars in military equipment from all kinds of companies. I have to buy car insurance to drive.

My business is mandated to buy all kinds of insurance coverage in order to operate.

you sound surprised.

[Gravitymaster 0]

tkhayes

they already do. I am forced to pay taxes to buy billions and billions of dollars in military equipment from all kinds of companies. I have to buy car insurance to drive.

My business is mandated to buy all kinds of insurance coverage in order to operate.

you sound surprised.

So because you are forced to buy certain products, you believe that is justification to force you to buy anything the government wants you to buy? Seriously?

[airdvr 197]

I am forced to pay taxes to buy billions and billions of dollars in military equipment from all kinds of companies.

You sound like you don't like paying taxes. I have to pay taxes so my gov't can support people who think welfare is a career choice. It's not the same and you know it isn't.

I have to buy car insurance to drive.

No you don't. Driving is not mandatory

My business is mandated to buy all kinds of insurance coverage in order to operate.

It's not the government forcing you to buy insurance. It's the banks.

you sound surprised.

Please don't dent the planet.

Destinations by Roxanne

[DaVinci 0]

tkhayes

they already do. I am forced to pay taxes to buy billions and billions of dollars in military equipment from all kinds of companies. I have to buy car insurance to drive.

My business is mandated to buy all kinds of insurance coverage in order to operate.

you sound surprised.

YOU don't buy the military equipment, the govt does using tax money. Not even close to the govt making you buy something.

You do not have to buy insurance.... You can take a bus, you can ride a bike. You can opt out of buying car insurance by not driving a car and there is no penalty imposed by the govt if you do that. How can I opt out of ACA without paying a penalty?

You do not have to run a business, you can opt out of buying the insurance there as well.... How can I opt out of the ACA?

A swing and a miss..... I also noticed you didn't respond to my post where I showed many other states are saying HC costs are going up due to the ACA.

[turtlespeed 212]

rushmc

***I suspect you are correct. Nevertheless it does make sense to me that everyone should be required to buy health insurance.

No, it does not

How can you propose to judge what does and does not make sense to him?

Are you the thought police?

I'm not usually into the whole 3-way thing, but you got me a little excited with that. - Skymama
BTR #1 / OTB^5 Official #2 / Hellfish #408 / VSCR #108/Tortuga/Orfun

[turtlespeed 212]

DaVinci

***they already do. I am forced to pay taxes to buy billions and billions of dollars in military equipment from all kinds of companies. I have to buy car insurance to drive.

My business is mandated to buy all kinds of insurance coverage in order to operate.

you sound surprised.

YOU don't buy the military equipment, the govt does using tax money. Not even close to the govt making you buy something.

You do not have to buy insurance.... You can take a bus, you can ride a bike. You can opt out of buying car insurance by not driving a car and there is no penalty imposed by the govt if you do that. How can I opt out of ACA without paying a penalty?

You do not have to run a business, you can opt out of buying the insurance there as well.... How can I opt out of the ACA?

A swing and a miss..... I also noticed you didn't respond to my post where I showed many other states are saying HC costs are going up due to the ACA.

LOL . . . It's an inconvenient truth.

I'm not usually into the whole 3-way thing, but you got me a little excited with that. - Skymama
BTR #1 / OTB^5 Official #2 / Hellfish #408 / VSCR #108/Tortuga/Orfun