On last week’s webinar, people asked for more ammunition to fight Obamacare on the basis that premiums are sky-rocketing and insurers are leaving the exchanges. Tonight, I give you that ammunition, but I want to start by drawing your attention to a new rule HHS is proposing to cut off an escape route from Obamacare.
There’s something called short-term insurance that can be purchased off-exchange outside of Obamacare. For years now, the Truth Squad has been urging people to consider buying short-term insurance and paying the ACA individual mandate penalty as a way of resisting Obamacare. We believe this strategy would be cheaper, and suit some people’s needs better than an Obamacare plan, even though short-term insurance typically covers less.
This strategy must make some sense because along comes HHS this week trying to put a stop to it. Their proposed rule would limit short-term insurance to 3 months and not let it be renewed. Currently, short-term insurance can be purchased for up to 364 days and it is renewable. If the rule is finalized, only people in some kind of transition would still have access to short-term insurance.
We know that sick people like Obamacare because Obamacare heavily subsidizes the cost of their illness. Healthy people are more likely stay away from the Obamacare exchanges, and many have. Cutting off the short-term insurance escape route will push some of these healthy individuals into Obamacare plans, shoring up Obamacare financially by capturing more healthy people to subsidize sick risk pools.
HHS calls short-term insurance a “loophole”. I call their effort to drastically curtail its availability, left-wing authoritarianism.
Now on to premium increases. The Truth Squad has tweeted 30 stories about premium increases, so far. I’m including all 30 in the wrap-up. That’s too many to put in Chatzy tonight, so I will provide one link to a post on ObamacareTruthSquad.com where you can find the stories later tonight. One notable story is about the 60 percent increase requested in Texas recently. This is not what we were promised, so we often include the hashtag #WheresMy2500, referring to the President’s repeated promises that people would see their premiums go down $2,500 a year, not up.
On a previous webinar, I mentioned that Obamacare subsidies go up as premiums go up. I called this the ‘real Obamacare death spiral’ because it means the national debt will just keep getting bigger. Since that time, I’ve read that only half the people on the Obamacare exchanges are getting subsidies. This means that premium increases are hitting these people right between the eyes. The administration likes to say that subsidies insulate Obamacare policyholders from premium increases, but that’s not true for half the people on the exchanges. Surely, they can’t be happy campers, and we should channel their discontent into repealing Obamacare.
Finally, we have tweeted more than 20 stories about insurers getting out of the Obamacare business and leaving the exchanges. It’s true that some new ones are coming in, and some insurers are profitable and want to stay on. However, it appears, on balance, that more are leaving and over 500 counties in the country are down to one insurer. That’s not a good thing and it gives us another reason to get rid of Obamacare.
Links
Short-Term Insurance
Left-wing authoritarian gov’t wants to capture more sefs, save #ACA risk pools by stomping on short-term insurance
https://morningconsult.com/alert/hoping-improve-aca-risk-pools-hhs-proposes-way-curb-use-short-term-plans/
#Premium Pain
California expects ave increase in #Obamacare rates of 8%. #SpinThis #TheYearOfRisingPrecipitously
http://khn.org/news/obamacare-premiums-in-california-may-rise-8-percent-next-year-state-predicts/
#PremiumPain #1
#PremiumPain #2 – “Obamacare insurers request double-digit rate hikes in Maine”. #RepealObamacareNow
http://bangordailynews.com/2016/05/11/business/obamacare-insurers-request-double-digit-rate-hikes-in-maine/
#PremiumPain #3 – “Vermont health insurance companies seek 8 percent rate hike”. #SpinThis
http://www.wptz.com/news/vermont-health-insurance-companies-seek-8-percent-rate-hike/39521330
#PremiumPain #4 – “Humana Seeks 50% ObamaCare Premium Hike In Michigan”. #WheresMy2500
http://www.investors.com/politics/policy/humana-seeks-50-obamacare-premium-hike-in-michigan/
#PremiumPain #5 – Wellmark to jack up rates 38% to 43% for some customers in Iowa. #WheresMy2500
http://www.desmoinesregister.com/story/news/health/2016/05/12/wellmark-plans-38-to-43-increases-some-customers/84277758/
#PremiumPain #6 – Florida #ACA plans to increase average of 17.7%. #WheresMy2500
http://hotair.com/archives/2016/05/13/florida-insurers-seek-17-rate-hike-under-obamacare/
#PremiumPain #7 – Insurers seek 9.4 to 37.1 percent #ACA hikes in Virginia. #WheresMy2500
http://www.loudountimes.com/news/article/significant_premium_hikes_expected_under_obama_health_law432
#PremiumPain #8 – average 29.6% increase requested in Oregon
https://insurancenewsnet.com/oarticle/obamacare-premium-increases-aplenty
#PremiumPain #9 – low-cost provider requests 45.2% increase in New Hampshire, right between the eyes. #WheresMy2500
https://insurancenewsnet.com/oarticle/obamacare-premium-increases-aplenty
#PremiumPain #10 – New York insurers seek ave 17.3% increase. If regulators trim, insurers will leave
http://www.bloomberg.com/news/articles/2016-05-18/obamacare-plans-in-new-york-seek-to-raise-premiums-by-17-percent
#PremiumPain #11 – “MARYLAND: ‘Insurers to seek rate increases of up to 30 percent’”
https://insurancenewsnet.com/oarticle/obamacare-premium-increases-aplenty
#PremiumPain #12 – Uh oh, Tennessee insurers continue to bleed despite 36-60% increases last year. #WheresMy2500
https://insurancenewsnet.com/oarticle/obamacare-premium-increases-aplenty
#PremiumPain #13 – rates for young men increasing 97-99%, young women 55-62%. #MillennialsGettingTheShaft
http://www.washingtonexaminer.com/obamacare-raised-premiums-and-taxes-to-combat-soaring-premiums-and-taxes/article/2538236
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Scott Gottlieb, MD Verified account @ScottGottliebMD 1h1 hour ago
Public Exchange Update: Pennsylvania Insurers Propose +24% Individual Market Rate Hikes #Obamacare
#PremiumPain #14
#PremiumPain #15 (Pa) – Highmark seeks 48% increase; others also ask for big hikes
http://lancasteronline.com/news/local/highmark-seeks-percent-increase-in-obamacare-premiums-others-also-ask/article_f7371652-22ae-11e6-958e-071e999c3bc4.html
#PremiumPain #16 – Nebraska insurers seek average 35% increase
http://www.sasse.senate.gov/public/index.cfm/press-releases?ID=D49569B5-B829-4287-9031-5D6FD1812F8F
#PremiumPain #17 explained – “At every turn, regulators favored enrollment gains over sound management.”
http://www.forbes.com/sites/scottgottlieb/2016/05/20/the-political-choices-made-to-goose-obamacare-are-now-wrecking-it/#1a11dd0d6184
#PremiumPain #18 – Arkansas insurers ask for big rate hikes, up to 24 percent. #WheresMy2500
http://swtimes.com/news/obamacare-insurers-seek-rate-increases-arkansas
#PremiumPain #19 – Midwest states biggest losers 2016 price hikes. Who loses most 2017?
http://www.businessinsider.com/obamacare-price-change-for-every-state-in-us-2016-5
#PremiumPain #20 – rate hike requests average 17% in Kentucky
http://politicalnews.me/?id=38971&keys=OBAMACARE-DESTROYING-MIDDLECLASS-HEALTHCARE
#PremiumPain #21 – double-digit increases in Massachusetts small biz attributed to #ACA risk adjustment
http://www.bizjournals.com/boston/blog/health-care/2016/05/thousands-of-small-businesses-to-see-doubledigit.html
#PremiumPain #22 – “Blue Cross asking for 60 percent rate hike for Obamacare plans in Texas in 2017”
http://bizbeatblog.dallasnews.com/2016/06/blue-cross-asking-for-60-percent-rate-hike-for-obamacare-plans-in-texas-in-2017.html/
#PremiumPain #23 – “Health insurance could cost up to 49.4% more for individuals, small businesses”
http://www.kansas.com/news/business/health-care/article81716057.html
#PremiumPain #24 – rates to go up as much as 29% in Indiana next year
http://www.ibj.com/articles/58807-hoosiers-could-pay-more-for-obamacare-policies-next-year
#PremiumPain #25 – Oklahoma state regulators: don’t look at us. We don’t set rates, feds do.
http://www.prnewswire.com/news-releases/oid-has-no-authority-to-approve-obamacare-rate-increases-300275831.html
#PremiumPain #26 – Florida rate increases reach 44%, average 13%. #WheresMy2500
http://events.tbo.com/news/health/florida-insurers-seek-rate-increases-for-obamacare-plans/2279141
#PremiumPain #27 – #ACA 2016 Average Rate Hike Was 8%. You broke your promise. #WheresMy2500
http://blog.independent.org/2016/06/08/confirmed-obamacares-2016-average-rate-hike-was-eight-percent/
#PremiumPain
http://www.wsj.com/articles/insurers-seek-big-premium-boosts-1464220397
graphic
‘Stable health insurance market’ and ‘no reason to despair’? You’re in denial. #PremiumPain
http://healthpolicyandmarket.blogspot.com/2016/06/everything-will-be-fine-as-soon-as.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+HealthCarePolicyAndMarketplaceBlog+%28Health+Care+Policy+and+Marketplace+Blog%29
‘Subsidies insulate you from rate hikes.’ Really? Half the individual market does not get a subsidy.
http://healthpolicyandmarket.blogspot.com/2016/06/everything-will-be-fine-as-soon-as.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+HealthCarePolicyAndMarketplaceBlog+%28Health+Care+Policy+and+Marketplace+Blog%29
Insurers Leaving
Wheels coming off – “Fifty-plus insurers nationwide are exiting the exchanges”
http://nypost.com/2016/01/10/beyond-obamacare-the-light-at-the-end-of-the-tunnel/
UnitedHealth to remain in only 3 states – Nevada, New York and Virginia
http://www.bizjournals.com/milwaukee/news/2016/06/02/unitedhealth-confirms-exit-from-wisconsin.html
UnitedHealth joins Humana in leaving Wisconsin exchange
http://www.bizjournals.com/milwaukee/news/2016/06/02/unitedhealth-confirms-exit-from-wisconsin.html
UnitedHealthcare, Humana leaving Arizona exchange, leaving only one statewide insurer. #ItsNotWorking
http://ktar.com/story/1078738/arizonans-left-with-fewer-options-as-major-health-care-insurers-pull-out/
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#refusetoenroll
Dan BonginoVerified account
When does the good news start with Obamacare? “Humana warns it will exit some #Obamacare exchanges” http://washex.am/1UyKPva @DCExaminer
Humana might leave more #ACA exchanges; enrollment way down.
http://www.chicagobusiness.com/article/20160505/NEWS03/160509869/humana-like-rivals-may-leave-obamacare-exchanges
Humana to leave #Obamacare market in Alabama and Virginia
http://www.wtvy.com/content/news/Humana-pulls-out-of-Alabama-leaving-one-insurer-on-Obamacare-exchange-378451841.html
Virginia a microcosm: sicker pool, rate hikes, insurer profits squeezed, insurers leaving
http://www.investors.com/politics/policy/why-anthem-obamacare-premiums-will-soar-in-va-as-humana-bolts/
Humana loses $176M on #ACA business, may withdraw from exchanges next year
http://www.forbes.com/sites/brucejapsen/2016/02/10/obamacare-losses-for-humana-mean-potential-withdrawal-in-2017/#94e8a146761d
“Oregon health insurers seek double-digit 2017 rate hikes”; one insurer leaves state
http://www.oregonlive.com/business/index.ssf/2016/05/oregon_health_insurers_seek_do.html
Blue Cross might leave North Carolina after losing almost $300 million there.
http://wncn.com/2016/05/05/blue-cross-still-dealing-with-system-failure-issues-may-drop-obamacare/
“UnitedHealthcare leaving Illinois Obamacare exchange”. #ItsNotWorking
http://www.chicagobusiness.com/article/20160531/NEWS03/160539973/unitedhealthcare-leaving-illinois-obamacare-exchange
“UnitedHealth to exit California’s Obamacare market”
http://money.cnn.com/2016/05/31/news/companies/unitedhealth-obamacare-california/index.html
“UnitedHealthcare leaving Florida Obamacare exchange”
http://www.news-press.com/story/news/2016/05/27/unitedhealthcare-leaving-florida-obamacare-exchange/85039848/
“UnitedHealth Quits 27th Obamacare State as Insurer to Exit N.J.”
http://www.bloomberg.com/news/articles/2016-05-18/unitedhealth-quits-27th-obamacare-state-as-insurer-to-exit-n-j
UnitedHealth’s departure will leave consumers paying more and getting less
http://khn.org/news/uniteds-departure-from-marketplaces-could-impact-consumers-costs-access/
Where UnitedHealth leaves and others merge: no, you can’t keep your plan, doctor, or drugs
http://dailysignal.com/2016/04/26/how-unitedhealthcares-exit-from-obamacare-exchanges-will-impact-consumers/?utm_source=TDS_Email&utm_medium=email&utm_campaign=MorningBell&mkt_tok=eyJpIjoiTUdRNE1qRXlZalJsWWpjMSIsInQiOiJBVVNJTUFnYmtDUmpqWkMwV1wvSUFFbEg5ZGhkRHE1ZVwvcVpIS2JcL2RRNXc1dk85elJNS0NyakN0K2xYWjhEZ1ZWSzgrbTMxMFZFSHpRQ0k0VHlnM0dCbWVxVVJFMVVIY1F4dGtFbnN4VFM0VT0ifQ%3D%3D
Quality of #ACA coverage will continue to fall after UnitedHealth exit; race to the bottom
http://www.forbes.com/sites/michaelcannon/2016/04/19/five-things-aca-supporters-dont-want-you-to-know-about-unitedhealths-withdrawal-from-obamacare/#7861fb3a5e41
UnitedHealth is 1 of 2 insurers in 536 counties; pull-out will cause rates to go up
https://morningconsult.com/2016/04/study-finds-local-impact-unitedhealth-aca-withdrawal/
“UnitedHealth to exit Michigan Obamacare exchange”
http://www.detroitnews.com/story/business/2016/04/16/unitedhealth-exit-michigan-obamacare-exchange/83137432/
UnitedHealth to exit Georgia and Arkansas exchanges after losing $1 billion on #Obamacare plans
http://thehill.com/policy/healthcare/275660-unitedhealth-to-exit-obamacare-exchanges-in-two-states-report
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Sally Pipes @sallypipes 54m54 minutes ago
My latest piece in @MedEconomics: “As insurers leave Obamacare exchanges, doctors pay the price” http://buff.ly/1Tyiikx #Obamacare #ACA
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