Here's a bailout most haven't heard of
derryb
Posts: 36,772 ✭✭✭✭✭
Bailing Out Health Insurers
Appears that while health insurers are now on the hook for the first $45K, taxpayers will foot 80% of the bill on claims over $45K.
Additionally it appears that Health Insurers are protected from losses, again by the taxpayer: " if an insurance company expects its costs in a given year to be X, and those costs end up being more than X plus 2 percent, taxpayers will come to that insurance company’s rescue—thanks to Obamacare. In fact, once an insurance company covers that initial 2 percent in unexpected costs, taxpayers will cover at least 80 percent of any additional costs the insurer accrues."
Bailouts create the need for more dollars. More dollars is usually good for PMs.
Appears that while health insurers are now on the hook for the first $45K, taxpayers will foot 80% of the bill on claims over $45K.
Additionally it appears that Health Insurers are protected from losses, again by the taxpayer: " if an insurance company expects its costs in a given year to be X, and those costs end up being more than X plus 2 percent, taxpayers will come to that insurance company’s rescue—thanks to Obamacare. In fact, once an insurance company covers that initial 2 percent in unexpected costs, taxpayers will cover at least 80 percent of any additional costs the insurer accrues."
Bailouts create the need for more dollars. More dollars is usually good for PMs.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
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Comments
If TBTF banks were bailed out to the tune of $10-$15 TRILLION, why not a few billion for the health insurance companies?
I knew it would happen.
<< <i>I'm reconciled to the fact that after I pay a fine or pay for a policy, the coverage will still be lacking and the deductibles will be so high that I'll have to pay out-of-pocket anyway as long as I can muster the cash. Once the cash runs out, nobody's gonna help, so stay as healthy as possible. >>
+1
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Much is said about the younger folks that are joining, 22% of the total is what is being advertised.
The male/female breakdown is not being shared though. The cost of coverage (but not the premiums) for a young lady is twice what it is for a young man. I would suspect that the ratio of young women to men joining is at least 4 to 1.
<< <i>This entire program is an unmitigated disaster..... I shudder when I think of what may be coming...Cheers, RickO >>
You, me, and everyone else.
Once the young do not sign up to support ACA, it will become mandatory I am afraid. The penalties will go away to be replaced by a tax, just like medicare and social security. This and the bailouts are just steps toward a single payer system. The current system (ACA) is designed to fail, and when the Health Insurance Companines are in shambles, health care will become nationalized. Private Health Care will be only for the rich, top 20%, say good bye to employee based health plans.
When employee based health plans are eliminated, it may help the economy, since the uncertain cost of health care will no longer be a burden on businesses. JMHO. I could be wrong too, but doubt it.
Congress knows what has to be done, it is just easing the American people into nationalized health care. Its just a dog and pony show by the repubs to try to repeal ACA. Since when does Congress listen to its constituents. This was apparent when the 2008 bailouts of the banks occurred against the wishes of the American people.
If taxpayers will pay for 80% of the tab, it is not far off to just be paying 100% of the tab. The health care lobbyists, not Congress, wrote the ACA law for their benefit.
Box of 20
<< <i>I'm reconciled to the fact that after I pay a fine or pay for a policy, the coverage will still be lacking and the deductibles will be so high that I'll have to pay out-of-pocket anyway as long as I can muster the cash. Once the cash runs out, nobody's gonna help, so stay as healthy as possible. >>
Welkome to Amerika comrade jmski.
Stay healty, drink vodka, hahaha.
Dis comrade may go back to ole kontry.
Is no good.
comrade renski