Media Coverage Of Politics

[Jim in CT]

Originally Posted by PaulS

Estimated cost to cover to age 26 from age 19 range from 0.5% of claims to 1.5% of claims.

Where did you get this data?

Let's say I have a typical policy for my wife and I, total cost is around $900 a month for a middle-aged couple (that includes what the employee pays, as well as what the employer pays, in other words, the total cost of a health insurance policy).

Let's say that now, because of Obamacare, I have to include coverage to my 25 year-old son. If I assume the high-end of your estimate (1.5%), you're telling me that adding my son only adds $13.50 a month to the cost of my policy(.015 x 900 = 13.5)??

No way, PaulS, no way...

A healthy 25 year-old will pay hundreds of dollars a month for a typical health insurance policy. Not $13.50. That is much more than the 1.5% increase you cited.

Johnny D, you are pretty young, and I believe self-insured. When you were 25, could you get a health insurance policy for $13.50 a month? Maybe in Zimbabwe, not in America.

[Jim in CT]

Paul S -

You didn't say costs would go down, but you did absolutely say they wouldn't go up much. And I've given you actuarial est. of the increases - none of them would justify a $2,500 increase in Johnny's premium. And across the country, people's healthcare costs are rising by much more than the rate of inflation. And they have for many, many years You said companies aren't ramping up premiums because of Obamacare. What's your proof of that? The minimum loss ratio law. Companies have to now give return premium if the claims don't hit a minimum loss ratio. Did you conduct a survey of all the largest companies, talk to the Employee Benefits department, and find out how much of the % increases are due to Obamacare? No, but has Johhny or you provided 1 piece of evidence to back his claim that costs went up $2,500 b/c of Obamacare? Or are you speculating, and making assumptions that are favorable to the man you support?I've posted what has been implemented so far and the est. claim cost increase of each. So that isn't speculation.

"I've given you actuarial est. of the increases "

You posted some numbers without any links. I am a credentialed actuary, though I don't work in healthcare. There is no way that adding a 26 year-old to an "average" policy is only a 1.5% rate increase for an "average" couple. If that was true, kids that age could get health insurance policies for $25 a month, and they can't.

"And they have (health costs have gone up) for many, many years "

Ah. But Obama was the one claimed he could reverse that trend. And he didn't.

"The minimum loss ratio law. Companies have to now give return premium if the claims don't hit a minimum loss ratio"

That's not really anything new. Before Obama descended from the heavens, healthcare was already highly regulated by states. Companies already had to release their combined ratios to justify rate levels.

Companies are raising rates. If this loss ratio law has any teeth, these companies must truly believe that they need the higher rates, right?

"has Johhny or you provided 1 piece of evidence to back his claim that costs went up $2,500 b/c of Obamacare?"

I made no such claim. You made the claim that the effect of Obamacare has a negligible impact on loss costs. You typed in some numbers with no link to any study. And your numbers make no sense whatsoever.

Paul, please show me where a 25 year-old can get a healthcare policy for 1.5% of what his parents pay for a policy? Show me a policy for a typical middle-aged couple, that only increases in price by 1.5% by adding a 25 year-old? Show me that, and I will admit you are correct. Good luck with that.