Insurance Exchange premiums 18% lower than market

Discussion in 'Too Hot for Swamp Gas' started by Row6, Jul 20, 2013.

  1. Row6
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    Row6 New Member

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  2. gatordowneast
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    Row, who are these quotes for? What age? And lower compared to what? If these are quotes for a 25 year old male, all are way higher than now. For a 25 year old female they are slightly higher than now. And for what coverage?

    Now if these quotes are for a 55 year old male or female, they are way lower than today.

    Me thinks we are missing information...not that one of our libbie, lefty posters would "intentionally" try to mislead by his post title...
  3. g8orbill
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    g8orbill Gators VIP Member

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    is the exchange policy equal in every way to the former policy? I am just afraid that since the dems want this thing that the beginning rates for the exchanges will not be the rates after 5 years-and we will still have 30 million without health insurance
  4. gregthegator
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    gregthegator Well-Known Member

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    they SHOULD be lower....you get HALF the coverage....

    see I can embellish ttttOOOOOOOOOOOO....

    Which statement IS true...well both the O.P.'s and mine are sorta right:ninja:
  5. Gatorrick22
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    Gatorrick22 Well-Known Member

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    Mods... This is getting ridiculous. If Obama-scam is so good then why are the unions totally against it?
  6. Row6
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    Row6 New Member

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    The one sentence summation are my words. The link gives some of the data which is from a HHS study and discussion. I believe the plan compared was a family plan, but I'm not certain.
  7. Row6
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    Row6 New Member

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    The data purports to compare apples to apples.
  8. neisgator
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    neisgator Belligerent Gator

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    I totally believe it.
    The government has proven time and again how efficient and cost conscience it is.

    Signed,
    825$ Hammer
  9. gatorman_07732
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    gatorman_07732 Well-Known Member

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    I thought the exchanges don't officially get rolled out until 2014?
  10. Row6
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    Row6 New Member

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    Article has details and notes they are numbers posted in advance based on companies reported prices.
  11. gatorman_07732
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    gatorman_07732 Well-Known Member

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    IMO unless it's setup and active where we can confirm real-time purchases it's whistling in the wind.
  12. neisgator
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    neisgator Belligerent Gator

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    Fact
  13. jimgata
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    jimgata Premium Member

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    The insurance commissioner of Indiana, stated yesterday Obamacare would cause indinidual rates in that state to increase by 72% and small group coverage by 8%.
  14. mdgator05
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    mdgator05 Premium Member

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    For those asking methodological questions, here is the report:

    http://aspe.hhs.gov/health/reports/2013/MarketCompetitionPremiums/rb_premiums.pdf

    So yes this is an apples-to-apples comparison. They extrapolated the pre-ACA growth rate in premiums to this time for the same plan and compared them to the actual results with ACA. They also compared the actual results to prior estimates, finding that the actual results are coming in lower than the estimates had said they would.

    Interestingly, the report actually appears pretty conservative, in that apparently the initial preliminary rates have actually been higher, lowered in later periods by competition and the review process.

    The rates appear to be a weighted average premium based upon the CPS (Current Population Survey- the statistics on employment from the Census) for employees in small groups or the RAND COMPARE estimated weighting by age for the individual market.
  15. mdgator05
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    mdgator05 Premium Member

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    Indiana refused to make their data or methodology available in coming to that conclusion. It appears that they may have averaged the increases across all plans, rather than examining a specific level (as done in the federal plan which looked specifically at the lowest cost "silver" level plan). In addition, we have no idea how they weighted the results across age or any other factors. The unwillingness to release the underlying data does suggest a weakness in the methodology in pursuit of a specific end result (the Indiana government is currently headed by Conservative Republicans).
  16. jimgata
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    jimgata Premium Member

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    We have seen what government projections were on obamacare in the past and how far off the cost were projected. Now we have a new government report on projected cost of a plan.How long will those projections last before they are also shown to be invalid?
  17. gatordowneast
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    Row, those quotes were for a single individual (but chart didn't name age or sex). A family plan is closer to $1500/month, not $300.

    My mother (medicare with a supplemental policy from Humana) was shocked to learn how much my family coverage costs (I'm self employed). I would suspect, those who have never stroked the check for their health care costs have no idea how much their employer pays or the amount paid by those who buy their own.

    We actually went to a high deductible plan with United Health Care which is $950 month (covering 3 of us) + we put $500 month into a Health Savings account which covers about half of our annual deductible should at least two of us be hospitalized or need surgery. The HSA rolls over so you can put together a nice little chunk of health care dollars over a few years if everyone stays healthy.
  18. ga8orman1
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    ga8orman1 Premium Member

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    Row, you do not know this!!! They are just making assumptions and using estimates. I am here to officially correct you in that you cannot say that anybody knows what is going to happen.

    And yes, this is meant to sound just as rediculous as you have been sounding all week. Thank you.
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  19. dangolegators
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    dangolegators Well-Known Member

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    Seems to me there are 2 opposing factors with regards to changes in health insurance costs under Obamacare. We have greater competition and a larger pool of insured individuals. That lowers the costs. But we also have the mandate that insurance can't be denied to higher risk folks with preexisting conditions and whatnot. That increases the costs. The information we are seeing so far suggests that the decreased costs of competition and a larger pool of insured are outweighing the increased costs of having to insure the less healthy. But even if it were a draw, it would be a big improvement for our society. In fact even if overall costs went up a little, it would a big improvement for our society overall. But the early evidence suggests that the cost may be lower than it was pre Obamacare. That's called win/win. And Repubs are desperately trying to overturn Obamacare and go back to the way it was.
  20. jimgata
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    jimgata Premium Member

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    Repoblicans are desparately trying to overturn Obamacare because it may lead to complete control by the government and health services become just another government agency.
    But their efforts are seemingly failing as more and more citizens are being captivated by the "nanny state" and "someone please take care of me" attitude.

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