Monday, October 28, 2013

Another delay.  Obamacare law requires the exchanges to post the ratings of each health plan that is offered.  The National Council on Quality Assurance rates almost every plan in the nation.  But the for some reason, although required by law, most exchanges, including the Federal exchange, are not posting the ratings.  Guess the law doesn't apply somehow. So the consumer selecting plans won't know how well the insurance company serves its customers.  Great.
One of the insurance company executives recently said that people aren’t losing their coverage under Obamacare, they are just being “transitioned”. Don’t you just love the double speak.
Let’s see how this excuse could be used other places:
“Mr. Smith, we had to transition your family dog. Where would you like to bury him.”
“Well Bob, we have decided to transition you to the unemployment line.”
“Really, Mary, it isn’t you, I am just transitioning to another girlfriend.”
“Honest officer, I was just transitioning some of the Bank’s money into this little bag here, with the help of the note that said I had a gun.”
“I did not have sex with that woman, I was just transitioning……….”
You get the point.
Well, the Obama administration may want the Obamacare website to continue to malfunction, because once you are able to sign on, you will die of sticker shock.

The Saint went in today to check to see of the site was working.  It was.  Then he continued on to check prices.


The Saint has a private health insurance policy with Blue Cross and Blue Shield.  It is a high deductible plan (10k) but provides the level of service he and his wife need.  The cost is roughly $300 per month.  The cheapest plan available to the Saint costs $600 and is inferior to his current plan in almost every way.  This "bronze" plan doesn't really pay anything until the deductible is met, which is 12k.  The plans that more closely represents his plan costs 3 to 4 times his current premium.

So, this is turning out to be a major political blunder for the President.

By the way, the Saints private insurance went up 25%, 5% of which is a new Obamacare ACA fee.  The ACA fees are another set of hidden taxes and is composed of "The Transitional Reinsurance Program Contribution Fee and the "Health Insurer Fee.  Both go in to effect Jan 1, 2014. So even if you "can keep your current policy" it will cost you more in taxes.

By the way, the Saint is spared an even bigger increase, because a few months ago, BCBS changed the effective date of my policy to Dec 1, 2013, so the required coverages for Obamacare won't kick in until next year.

Monday, October 21, 2013

No matter your political affiliation and opinion on Obamacare, one thing is for certain, we cannot escape the fact that the government cannot repeal the law of supply and demand.

So let's look at the issues.

If we increase the number of people wanting to see a doctor (demand) and don't increase the number of doctors (supply) and we attempt to keep the price of their services steady or even reduce prices, there will be shortages.  No way around it. And you thought your wait time at the emergency room was long.  Getting a doctor's appointment will stretch from a month to 6 months or longer.  You will be right back in the ER paying 3 times the co-pay you would pay if you could see your doctor.

So why would the government not recognize this on coming train wreck?  Well, the Saint believes they know full well the chaos that is about to ensue.  Remember, this administration really wants a single payer system.  So the best way to insure a single payer system (let's call it Obamacare II) is to design Obabmacare I to fail miserably.

So the first failure is the website.  This failure in the launch of the websites is no accident.  It was planned.  Keeps your eye off of the fact that the early adopters are chronically ill.  Which leads us to the next problem...Thee elimination of pre-existing conditions limitations and the lifetime expenditure limits.  More than likely, the initial enrollees in Obamacare I are those with pre-existing conditions.  So let's say the first 1 million people who sign up have significant pre existing condtions.  Their average healthcare costs could easily be 10 times their premiums.  That will mean that the system will need 10 million healthy enrollees just to break even, which is almost impossible.

So, once the pre-existing conditions clients bankrupt the insurance companies, the government will have no choice but to bail them out, thus insuring that the insurance companies are owned by the government.  And you then have single payer.

That is the end game. Don't be shocked.  You heard from the Saint.