Obamacare Update: Why you will lose your “private healthcare”. How we will end up with a “single payor“ government managed healthcare system and when you can expect rationing to begin.
Here are facts that the President refuses to admit.
1). Obamacare does not target “healthcare”. Obamacare targets health care “insurance”. That is why Obama met with the heads of Insurance Companies and not with our Country’s doctors. Our Country’s doctors are being ignored.
Obamacare does not “reform” the practice of medicine.
Obamacare does not improve medical care or medical care delivery.
Obamacare does not decrease the costs of medical care, in fact Obama care does not even decrease the cost of medical insurance.
2). Health Insurance Companies do not have the authority to set the “rates” or prices that they charge. Insurance companies have no authority to set the prices of their policies, let alone to set those prices wherever they would like.
The process for setting “rates” or “pricing” healthcare insurance policies is one of the most heavily regulated areas of American business.
President Obama has intentionally and dishonestly misled the American people with his statements concerning medical care, Obamacare and Healthcare Reform.
A). All health care insurance premiums or charges are “pre-approved” by State or Federal regulators. Insurance Companies are required to submit rating plans (pricing plans) to these regulators on an annual (Once a year) or semi-annual basis. (Once every 6 months).
B). Let me repeat, the rating plans must be submitted to State or Federal regulators at least once year. The ratings plans “must be submitted” regardless of whether the healthcare company is requesting a “price” or “rate” increase.
C). Healthcare insurance companies are not allowed, legally, to operate at a financial loss. Let me repeat that statement, “Healthcare insurance companies are not allowed, legally, to operate at a financial loss.” This is true whether the healthcare insurance company is publically owned (public stock), privately owned or a “not for profit company”.
Healthcare insurance companies must, by law, maintain sufficient funds (called reserves) to pay the known and anticipated costs associated with its policyholders medical claims. A failure to maintain a “sufficient” amount of money (or, sufficient reserve levels) subjects the Company’s Executives to both civil and criminal prosecution.
EXAMPLE OF PRESIDENTIAL DISHONESY – Healthcare Reform: You may recall that the President singled out the Anthem Healthcare Insurance Company for criticism at a critical time in the health care debate. Anthem is a young company as far as insurance companies go. Anthem began its journey as a “spin-off’ of American General Insurance in the 1980’s. In 2001 Anthem became a “publicly traded” “publicly owned” stock company. In 2004 Anthem merged with Blue Cross Blue Shield and later in 2004 Anthem merged again, this time with WellPoint Insurance Company. Anthem Blue Cross Blue Shield is well known for its management of UAW related Health Insurance Programs, programs recently referred to as “Cadillac Health Plans”.
Just days after the President “negotiated” a “partial waiver, modification and delay” of “Obamacare” taxes to be levied on the Anthem Blue Cross Blue Shield “Cadillac Health Care Plans”, Anthem Insurance filed a rate increase request in California, a rate increase that “requested” up to a 40% price increase. President Obama was quick, surprisingly quick in fact, to criticize Anthem for the requested rate increase. When one considers how slowly the President responds to things, one might think he had advance notice of Anthems plans.
Anthem filed all of the necessary financial reports to support its request to increase “rates” or prices” and those documents were submitted to the regulators for review. President Obama rode this horse home during the Obamacare debates, regularly referring to Anthems requested rate increase. Today, President Obama noted two things relating to Anthem Insurance; First, that Anthem was prohibited from increasing rates on its own, that it was governed by regulators and that the regulators noted that Anthem had misstated their claim costs in the “rate increase” request and subsequently withdrew that request.
Let me recap: Days after getting a “partial waiver, modification and delay” of Obamacare taxes to be levied against “Cadillac Health care Plans”, Obama’s buddies at Anthem request a “rate increase” which cannot be supported by the required regulatory filings, Obama uses this “rate request” to demonize all insurance companies during the Obamacare debate and after Obamacare passes, it is noted, incidently, that the Regulators who oversee rate increases, caught Obama’s buddies at Anthem red handed and they withdrew the request. How stupid do they think we are!
When Federal and State regulators consider rate increases they specifically consider Executive and Non-executive salaries and expenses. The President implied today that “his actions” will result in Healthcare Insurance Companies will spend between 80% and 85% of their income on claim payments. The truth is that the Healthcare Insurance companies have traditionally paid 80% to 85% of their income on claims payments.
If a Company spends more than 85% of its revenue on claims payments, it will, coincidently, be entitled to a rate increase, because, the Company is not acting in a prudent manner to ensure the payment of future claims.
HOW YOU WILL LOSE YOUR PRIVATE HEALTHCARE COVERAGE – “A SINGLE PAYOR SYSTEM ON THE WAY”
The Government will regulate “Private Healthcare Coverage” out of existence.
President Obama met today with Healthcare Insurance Company Executives, State and Federal Healthcare Regulators.
It is the goal of the Obama Administration to end private healthcare insurance in this country and replace it with the President’s stated “preferred healthcare system”, a single payor government run program.
Private Healthcare Insurance Companies will be regulated out of existence.
The Obama Administration will mandate that additional medical services, treatment, surgery and medications be provided by the Private Healthcare Industry.
Then the insurance regulators will decline the rate increases that the Companies must submit, according to Federal and State Law. Without the requested rate increases and with unchecked and escalating medical costs the private healthcare companies will be forced to close their doors.
The Obama Administration will have achieved its goal and only the Government will remain in the Healthcare Insurance arena.
WHEN WILL THE RATIONING BEGIN
Healthcare rationing will be directly tied to “total healthcare costs”.
Obamacare adds millions of additional bureaucrats to the healthcare system without adding a single doctor or nurse. Obamacare calls for the creation of 26oo new “regulatory bodies” without adding a single diagnostic testing machine. The costs of American Healthcare will skyrocket, without adding a single procedure or healthcare professional to provide medical care.
On May 11, 2010 the CBO (Congressional Budget Office) revised it early estimate of costs associated with Obamacare. The CBO now says that Obamacare will cost over $1 Trillion Dollars and that the $1 Trillion dollars includes a $500 Million Dollar reduction in payments to Medicare and Medicaid. If we, as a Country, are to maintain Medicare and Medicaid spending at today’s levels, Obama Care will cost, at a minimum, $1.5 Trillion dollars. http://www.cbo.gov/ftpdocs/114xx/doc11490/LewisLtr_HR3590.pdf
As the Government runs out of money to pay for the treatment of the American people, doctors and hospitals will be forced to provide less treatment, pharmacies will dispense fewer drugs and fewer diagnostic tests will be given.
President Obama stood in the Capital Building and promised the American People:
“First, you can keep your healthcare, keep your doctor ……”
“That my healthcare proposals won’t add a dime to the deficit”
Then the resident swore to the American People that he would not sign any bill that did …….
Mr. President, would you know the truth if it walked up and kicked you in the ass ……
Have you considered that the Government’s estimates of the costs associated with Obamacare are no more accurate than the Obama Administration’s estimates of oil flowing into the Gulf?