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Dinglehopper

CareFirst seeks 91% increase

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https://www.bloomberg.com/news/articles/2018-05-07/obamacare-premiums-to-surge-next-year-early-rate-requests-show

 

The repeal effort ultimately failed, but the Trump administration overturned the penalty for going without insurance, and opened the door for insurers to sell cheaper, skimpier plans.  The rate requests must be approved by regulators and may change. Health plans will file requests in other states between now and late July. Final premiums will have to be approved ahead of the open-enrollment period beginning Nov. 1.

Seeking a Fix

In Maryland, CareFirst wants to raise rates by 91 percent on a plan covering 15,000 people, Insurance Commissioner Al Redmer Jr. said. If approved, premiums for a 40-year-old could reach $1,334 a month.  “We have folks in Maryland that are struggling, that are trying to do the right thing, and they’re paying more for their health insurance than they are for their mortgage,” Redmer said on a call with reporters.

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Well....what did anyone expect? 

MD GA in it's infinite wisdom....decides to slap a tax on the providers to set up a trust to compensate for the Fed's no paying supplemental monies to offset expenses for people that make to much for Medicaid ..to make it affordable. So the state can provide it.

Sooooooooooooo......as always ....with any business....things like taxes and tariffs DO NOT affect the company....as they pass that expense onto....guess who....the customer.

So it is once again.....a circle ....a shadow puppet show. 

But the politicians look good :rolleyes::huh:

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34 minutes ago, Dinglehopper said:

https://www.bloomberg.com/news/articles/2018-05-07/obamacare-premiums-to-surge-next-year-early-rate-requests-show

 

The repeal effort ultimately failed, but the Trump administration overturned the penalty for going without insurance, and opened the door for insurers to sell cheaper, skimpier plans.  The rate requests must be approved by regulators and may change. Health plans will file requests in other states between now and late July. Final premiums will have to be approved ahead of the open-enrollment period beginning Nov. 1.

Seeking a Fix

In Maryland, CareFirst wants to raise rates by 91 percent on a plan covering 15,000 people, Insurance Commissioner Al Redmer Jr. said. If approved, premiums for a 40-year-old could reach $1,334 a month.  “We have folks in Maryland that are struggling, that are trying to do the right thing, and they’re paying more for their health insurance than they are for their mortgage,” Redmer said on a call with reporters.

Someone has to pay for it somewhere. There's no pot -o'- gold at the end of the rainbow. no magic money source, no one anywhere is gonna offer a free lunch. There are no unicorns pooping money. The flying monkeys died at about the same time as Frank Baum.  It just ain't ever gonna happen. 

I was once fortunate to be acquainted with Al Redmer and can't help but wonder how he ever came to associate his name with this debacle. 

I can be a reasonable person, however IMHO, socialism, as addressed by liberals in this country is beginning to appear to be a terminal affliction. 

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The problem isn’t socialism. The problem is insurance.

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29 minutes ago, Dinglehopper said:

The problem isn’t socialism. The problem is insurance.

Sure it is. Until the bills arrive. Someone has to pay for it all.  There is no free lunch. 

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2 minutes ago, blowboatbethesda said:

"Super regulation?" 

Where have YOU been for the past 50 years?  :rolleyes:

Right here dude.

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23 minutes ago, Dinglehopper said:

Right here dude.

Insurance is regulated on a state-by state basis, the Feds have nothing to do with it. 

Where do you live?

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4 minutes ago, blowboatbethesda said:

Insurance is regulated on a state-by state basis, the Feds have nothing to do with it. 

Where do you live?

Oh cool!  I thought some sort of national health care legislation passed a few years ago.  Must have been a dream

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Posted (edited)

13 minutes ago, Dinglehopper said:

Oh cool!  I thought some sort of national health care legislation passed a few years ago.  Must have been a dream

Uh huh. I guess that Care First in Maryland is going to defy "national health care legislation."  Are you really that naive? 

Care First (and other insurers) are doing exactly what is permitted by law. 

Please remind me of the name of the guy that signed the law. Please? 

Edited by blowboatbethesda

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Posted (edited)

7 hours ago, blowboatbethesda said:

Uh huh. I guess that Care First in Maryland is going to defy "national health care legislation."  Are you really that naive? 

Care First (and other insurers) are doing exactly what is permitted by law. 

Please remind me of the name of the guy that signed the law. Please? 

You must think I am an Obama supporter. Nope.  He failed.  And I only voted for him once (against Hillary).  We should have gone right to single payer and not let the lobbyists win.  And Trumpublicans have now messed it up even worse.  

Edited by Dinglehopper

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11 hours ago, Dinglehopper said:

The super regulation of insurance drove the cost way way up.  We pay the most:  https://www.pbs.org/newshour/health/health-costs-how-the-us-compares-with-other-countries

After reading the article ...........................I think the reverse is true....it is not super regulation but rather a lack there of: 

From the article:    

They refers to other countries to be clear

They use a common fee schedule so that hospitals, doctors and health services are paid similar rates for most of the patients they see. In the U.S., how much a health care service gets paid depends on the kind of insurance a patient has. This means that health care services can choose patients who have an insurance policy that pays them more generously than other patients who have lower-paying insurers, such as Medicaid.

They are flexible in responding if they think certain costs are exceeding what they budgeted for. In Japan, if spending in a specific area seems to be growing faster than projected, they lower fees for that area. .....they can intervene by lowering the price for that service. These countries also supplement lowering fees with other tools. For example, 

There are few methods for controlling rising costs in private insurance in the U.S. In running their business, private health insurers continually face a choice between asking health care providers to contain their costs or passing on higher costs to patients in higher premiums. Many of them find it hard to do the former.

 

But if I missed it....I would appreciate the quote that qualifies the 'super regulation' statement.

Bottom line though to me.....is as long as there is an uncontrolled profit motive involved...prices will go up. Only some sort of single payer like Medicaid can fix that. IMO.

And the dems blew it when they gave into the GOP....who screwed them anyway...when gluing together Obamacare. 

In a way...Obama and Obamacare....is sort of like Trump and Tax Reform. 

You have to admit ...BOTH....they and their parties had a form of PASS ANYTHING disease. (pun intended)

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On 5/9/2018 at 10:11 AM, Guido2 said:

Bottom line though to me.....is as long as there is an uncontrolled profit motive involved...prices will go up. Only some sort of single payer like Medicaid can fix that. IMO.

On that we can agree

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