Obamacare Insurance Bailout ?

[classhandicapper]

http://www.latimes.com/nation/la-na-insurance-bailout-20140521-story.html#page=1

[Clocker]

The bailout of insurance company losses was written into the original bill, where they were called "risk corridors". The article refers to a recent unilateral rule change by the administration that would make more money than originally allocated available for that purpose as needed.

[LottaKash]

If the current Government was really interested in the health and welfare of "ALL" of it's citizens, they should have "Bailed Out the VA" first....Just to prove to us all that, the gov't can do Healthcare Right....

Turns out they didn't and they can't....And there is living (or should I say dying) proof to that end...

The healthcare system in Amerika wasn't all that it could've been, but no system can be that to all people, ever....Given that, anyone who still believes that Obamacare was, or still is, a "good thing", then I sincerely believe it is safe to say this, is "DELUSIONAL"...

[boxcar]

If the current Government was really interested in the health and welfare of "ALL" of it's citizens, they should have "Bailed Out the VA" first....Just to prove to us all that, the gov't can do Healthcare Right....

Turns out they didn't and they can't....And there is living (or should I say dying) proof to that end...

The healthcare system in Amerika wasn't all that it could've been, but no system can be that to all people, ever....Given that, anyone who still believes that Obamacare was, or still is, a "good thing", then I sincerely believe it is safe to say this, is "DELUSIONAL"...

The ObamaCare debacle was intentionally designed to fail so that the crooks in D.C. can play the part of a savior and "save the system" by forcing single-payer on Americans as the only viable solution, which is what BO always wanted to begin with.

It's coming....stay tuned.

Boxcar

[Clocker]

If the current Government was really interested in the health and welfare of "ALL" of it's citizens, they should have "Bailed Out the VA" first....Just to prove to us all that, the gov't can do Healthcare Right....

While the VA could certainly use more money, they were not spending the money they had efficiently. Data is coming out that VA doctors, who are on salary, see many fewer patients than doctors in private practice.

Also, the smoking gun that started the current crisis was secret wait lists for appointments. These off the record wait lists kept the official efficiency rating up, which meant increase performance bonuses for management.

All of which proves once again a major problem with government programs versus the private sector. People do what they are rewarded for. People in the private sector are rewarded for accomplishments. People in the public sector are awarded for completing the paperwork.

[mostpost]

http://www.latimes.com/nation/la-na-insurance-bailout-20140521-story.html#page=1
This is not a bailout. It is a reinsurance program the same as the reinsurance programs the insurance companies themselves set up. The government is merely the conduit for money provided for the insurance companies by the insurance companies.

What this new rule does is make more money available if needed. It will not be needed. The money available from the original bill will be sufficient to cover the few losses that will occur.

Proposed increases in a few states where insurers have already filed 2015 rates have been relatively low, with several major carriers seeking just single-digit hikes
The quote above is from the latimes article you linked to. It means that cost have not increased greatly. It means that insurance companies are not losing massive amounts of money due to Obamacare. The purpose of the new rule is psychological.

[mostpost]

The bailout of insurance company losses was written into the original bill, where they were called "risk corridors". The article refers to a recent unilateral rule change by the administration that would make more money than originally allocated available for that purpose as needed.

Nor "as needed", if needed.

[Clocker]

The money available from the original bill will be sufficient to cover the few losses that will occur.




You know this how? Perhaps you should share your insight with the insurance companies, who don't share your confidence. They are quite concerned with the uncertainty of their financial situation, and with the money available to them. Because the law did not allow them to ask questions about the preexisting conditions of people signing up for ObamaCare, they have no idea of the potential risk of their new policy holders.

This system was supposed to pay for itself, as does a similar one used to shift money between drug plans in the Medicare Part D program.

But insurance industry officials have grown increasingly anxious about the new system's adequacy.