Aetna CEO Sees Obama Health Law Doubling Some Premiums

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Health insurance premiums may as much as double for some small businesses and individual buyers in the U.S. when the Affordable Care Act’s major provisions start in 2014, Aetna Inc. (AET)’s chief executive officer said. While subsidies in the law will shield some people, other consumers who make too much for assistance are in for “premium rate shock,” Mark Bertolini, who runs the third-biggest U.S. health-insurance company, told analysts yesterday at a conference in New York. The prospect has spurred discussion of having Congress delay or phase in parts of the law, he said. “We’ve shared it all with the people in Washington and I think it’s a big concern,” the CEO said. “We’re going to see some markets go up as much as as 100 percent.” Bertolini’s prediction is at odds with Congressional Budget Office estimates that the law will have little effect on small and large-employer plans and the Obama administration’s projections that middle-class families will actually save money. The 2010 law is expected to extend health care to about 30 million people who otherwise couldn’t get insurance, paid for by new taxes and fees on companies and wealthier individuals.

Did anybody really believe dear leader and his projections for "savings"/ I know I didn't. Now two of the largest insurance providers are forecasting huge increases. How could there not be these increases? Think about it. You are mandating that companies cover crap that many people do not want or need like abortion on demand at no co-pay; guaranteed coverage for pre-existing conditions; free birth control; and a whole bunch of other stuff that the average person doesn't even want. This was entirely foreseeable. Only fools could not know that this was coming. BOHICA! Dear leader has struck again.

reply to post by DarthMuerte


Well, there is no free lunch. Whenever government mandates free coverage or expanded coverage or insuring those with various preconceived conditions, then the cost premiums for everyone goes up. That's just the nature of the beast and one that many people do not understand. If government tomorrow was to mandate that car insurance also cover oil changes and the cost of gasoline, that insurance premium would skyrocket.

Of course, the intent is to make private insurance so expensive and untenable, that government will step in to take over and "fix" the problem it helped cause.

reply to post by DarthMuerte


Are you really so naive that you can't recongize when insurance companies are fear mongering?

With the onset of healthcare, this behavior is more than predictable for these companies.

And you instantly took the bait, hook, line, and sinker.

Originally posted by NavyDoc
reply to post by DarthMuerte

 

Well, there is no free lunch. Whenever government mandates free coverage or expanded coverage or insuring those with various preconceived conditions, then the cost premiums for everyone goes up. That's just the nature of the beast and one that many people do not understand. If government tomorrow was to mandate that car insurance also cover oil changes and the cost of gasoline, that insurance premium would skyrocket.

Of course, the intent is to make private insurance so expensive and untenable, that government will step in to take over and "fix" the problem it helped cause.

Oh now, silly...of course there is a free lunch. We can have every health coverage we ever imagined, have it all 100% free and with no problems to anyone.. ever!

All they need to do is keep building the Mt Everest of red tape to stand between the taxPAYER and the benefit COLLECTOR. As long as the two never see each other to directly make the mental connection? Hey! It's free TV day for everyone! C'mon on and step right up for yours!

Originally posted by nixie_nox
reply to post by DarthMuerte

 

Are you really so naive that you can't recongize when insurance companies are fear mongering?

With the onset of healthcare, this behavior is more than predictable for these companies.

And you instantly took the bait, hook, line, and sinker.

Is it fear mongering when the increases are actually already occurring? Google it for yourself. People all over the country are complaining about huge spikes in insurance costs leading to many small companies and individuals losing what coverage they used to have. As the above poster mentioned, this was planned. The goal is single payer government controlled healthcare. Just look at the UK to see how that works out. Rationed health care will be the result in the end. AKA "death panels".

Originally posted by NavyDoc
reply to post by DarthMuerte

 

>snip<
Of course, the intent is to make private insurance so expensive and untenable, that government will step in to take over and "fix" the problem it helped cause.

And who benefits?
The health-care industry as they are no longer burdened with offering low rates and competing for clients.

The Democrats have managed to turn health-care into a subsidy.

Who is in bed with whom, I wonder?

reply to post by abecedarian

Absolutely. This is corporate welfare for the healthcare industry in it's present form. However, they will be betrayed by dear leader. Single payer, government controlled healthcare is the goal here. IMO, it is being done in support of agenda 21.

reply to post by DarthMuerte


You seem to have missed the rest of the article. I'll post it for clarification.

“That just seems silly,” said Gary Claxton, a vice president at Kaiser Family Foundation, a Menlo Park, California- based nonprofit that studies health issues. “I can’t imagine anything going on in the small-group market that would change the average premium that much. On the individual market, there’s arguments for things changing, but those magnitudes seem high.”

The CBO estimated in 2009 that the law will increase premiums 10 percent to 13 percent for individuals and have little effect on small and large-employer plans. After the subsidies are factored in, individual bills will go down by about 60 percent, the agency predicted.

Your Source


And just for fun let's look at what your other source has to say.

Larry Kirsch, a healthcare economist in Portland, Ore., who has studied surpluses at other Blue Cross and Blue Shield plans, said not enough regulators nationwide require nonprofit plans to justify their rationale for hoarding so much cash at a time when many consumers and small businesses are struggling to afford health benefits.

Your 2nd Source

It would seem that the Insurance companies are just throwing their toys out of the pram.

Sounds like fear mongering to me. I will not be listening to anyone with a dog in this fight. Certainly not the CEO of one of these monster companies that has done nothing but profit off of the health care mess in this country.

reply to post by BritofTexas


The estimates are total BS. Look at reality, I know libs hate reality, that is where the money actually gets paid.
Small business premiums are going up, but everyone says they are not climbing very high. Why is that? It is because the companies, by and large are changing plan types. High-deductible plans are a common way that employers save money. These plans are cheaper because they shift some of the cost to the patient. Employers can save even more money by cutting expensive hospitals out of their coverage. This is what’s known as a limited network plan. And the fastest-selling product for a few insurers is what’s known as tiered coverage. With tiered health plans, patients can go wherever they want, but they might pay $2,000 or more to deliver a baby or even more for other types of care. Look beneath the surface numbers, you might be surprised or even awakened by what is really happening out there.

reply to post by DarthMuerte


Another thread that I am proud to say, we told you so sadly nobody was listening because they were obfuscated under the Obamacare propaganda.

My insurance is under Tricare prime, (government sponsored health care) as my husband is a retired Marine, our premium already double, and by 2014 will triple

Yes, Obamacare is going to kick some people in the arses and they will be looking around in amazement of what in the hell happen.

We told you so.

I find interesting how this new fees are been introduced on top of the already new taxes that are part of obamacare.

But the time people pay for all the hidden fees, out of pockets expenses and taxes they will barely have enough to feed their families

But is OK, The fed just got another 80 billion a month to keep bailing out the banskets in wall street at the expenses of tax payers today

Everything is peachy in the great USA.

When bills and laws are passed without oversight, loopholes and provisions if you know how politics are you know that is nothing but a scam

reply to post by DarthMuerte


The Insurance Companies are using the idea of ObamaCare to increase their profit margin.

They know the Conservative Entertainment Complex will spin it for them and you will all flock to the fountain to bathe in their Kool Aid.

Healthcare, like most other costs are rising every year. What isn't being mentioned is that ObamaCare protects Americans by limiting the amounts insurance companies can raise their premiums by (to increase profit, they must justify their rate hikes to the state they operate in and then post the information on their website). Many Americans are seeing their insurance premiums rise because some health care companies are trying to grandfather people in at higher rates and increase profit before these protections go into effect.

Obamacare Fact Check

reply to post by BritofTexas


You do realize that the Kaiser Family Institute is a health care think tank funded in part by the Bill and Melinda Gates foundation????

Do I believe a Corp CEO, not really, but I also find it very difficult to believe in any kind of think tank that is funded by world class eugencist...

Kinda like the pot calling the kettle, don't you think?

It is kind of hard for me to digest someone calling anyone against the affordable healthcare act a fearmonger, when the info is already coming out as to how in a nutshell it just seems like a tax scam that is going to kill jobs and make healthcare worse than it already is....

But hey! FREE is good right?

Originally posted by underduck
Sounds like fear mongering to me. I will not be listening to anyone with a dog in this fight. Certainly not the CEO of one of these monster companies that has done nothing but profit off of the health care mess in this country.

So, you shouldn't listen to a businessman as he has a dog in the fight but you should listen to the politicians who have a dog in this fight?

Actually, the big insurance companies that are the ones that drafter the Obamacare from Romney care knew what they were doing, they were able to get away with first the "mandate" aka taxes to force healthy young people to pay for insurance that will be benefiting the loses coming from those that will need the services the most to offset cost

Then they got away with provisions and loopholes, they know that the first years of the Obamacare foothold is the time that they will be profiting the most, with the tax payer incentives and new taxes.

Insurance companies are a business they are in business to make money not lose money, profiting is the main goal of capitalism.

They profit we pay and now by mandate.

reply to post by seeker1963


If you were here in ATS when we dissected the bill you will be surprise that you are not far from the truth, under the bill it was never any regulations at all.

But people didn't wanted to believe.

This seems to me like premature justification for the insurance companies to jack-up rates...no matter what the effects of Obamacare are.

Obamacare is one big giveaway to the corporate insurance companies. By the time this completely takes effect, people will be wishing Obama was a socialist, instead of the fascist he is turning out to be!

reply to post by DarthMuerte


Jesus H..

So this effectively states that these companies are usng the laws as an EXCUSE to gouge consumers for MORE healthcare costs than they were already paying.

Trust me, these companies are VERY happy to raise premiums and charge people more. This is a WONDERFUL thing for their bottom line.

Bunch of greedy bastards. Without the health care law they probably still would have raised rates by the same ammount over the next 4 or 5 years.

Sure let's blame a healthcare law for the greed of corporations, that sounds awesome.

~Tenth

Originally posted by NavyDoc

Originally posted by underduck
Sounds like fear mongering to me. I will not be listening to anyone with a dog in this fight. Certainly not the CEO of one of these monster companies that has done nothing but profit off of the health care mess in this country.

So, you shouldn't listen to a businessman as he has a dog in the fight but you should listen to the politicians who have a dog in this fight?

Good point.

I am not swallowing every pill they are producing either. As far as I understand it, we really dont know what is going to happen in 2014 yet. There are a number of different theories. We will see what happens then I suppose. Making sense of all this banter is quite difficult.

reply to post by DarthMuerte


The increases have been occurring for years, because it is a racket for profit health care.

The average, per capita cost of providing healthcare services in the United States rose by 7.32% for the past 12 months ending in August, a rate of inflation wildly above the 1.1% overall inflation for the same period, according to new study by Standard & Poor's.

The new numbers are consistent with a trend that from August 2000 to August 2010 has seen healthcare inflation rise 48% while overall Consumer Price Index has risen 26% for the same period, U.S. Bureau of Labor Statistics data show.

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