I just got out of a three hour marathon on Obamacare.
Ladies. Gentlemen. This does not look good.
We’re looking at an across the board tax increase on all existing health plans of 8-10% before cost trend. Medical trend has been running at a hot and steady 8-10% annually by itself.
So right now, before we even start factoring in things like losses from disruption or penalties for non-compliance (which can be incurred by any number of things at the administrative level in a corporation), companies in the US running an insured plan through one of the medical carriers is bound to see a 16-20% increase in the cost of their health plan. Minimum.
How much of that can even be passed along to employees (which they are bound to try)?
I don’t see anyone who’s going to escape this. Large corporations tend to self fund their benefits, so they will continue to see whatever their costs are – but everyone gets hit a little bit. And since the base of small businesses in the country are about to get railed, how do you think that will affect the business climate in this country? Being big doesn’t help you if your consumers are getting clobbered. Hell, it actually guarantees you get some of the pain.
I can tell you right now I will not be running long into the second half of this year. Between this, the pension gap funding window closing, and all the typical stupidity you expect to see throughout the summer anyway…you’re mad if you don’t have a sizable cash position by the end of May.
This is me warning you. Consider yourself warned.
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Perhaps, if the party of fascists, gluttons, and bigots (Republicans) would have attempted to compromise on Obamacare it wouldnt be so one-sided. However, in typical conservative fashion, they said no and are no trying to repeal it …a total farce. Obamacare isnt perfect, but the fact that we are the only westernized nation without universal healthcare is an utter, and embarassing joke.
Yeah, no blame the party that didn’t want the universal health care coverage for the resulting tax hikes that were passed over their heads.
What do you think would have changed? They were a superminority – do you not get that?
This bill was going to pass, as is, regardless of whether or not Republicans wanted to “negotiate” (which isn’t really an option when you have NO SAY).
Remember that part where the bill was passed within 72 hours of reaching the floor? Oh, yeah, I remember that part.
And as for it being a “joke” that we’re the only western nation without universal healthcare, remind me again how those countries with those benefits are fairing right now?
Oh, right, they’re all in recessions.
If you’d quit focusing on the insurance aspects of healthcare, and start focusing on things that actually effect cost – accessibility to care, number of doctors, cost of equipment/Rx, tort reform – it wouldn’t matter that not everyone has insurance. Insurance is wasteful; the whole point is that you overpay.
Think about it; do you want to use your auto insurance?
Obviously not.
Life insurance?
Hell no.
P&C?
Nope.
But yeah you want to use that health insurance. That makes perfect fucking sense…..
“And as for it being a “joke” that we’re the only western nation without universal healthcare, remind me again how those countries with those benefits are fairing right now?
Oh, right, they’re all in recessions.”
Honestly, I don’t think health care has much of anything to do with everybody else being in recession.
We’re not yet into the full swing of o-care and long before o-care we were in recession.
I’d disagree. Was it the universal healthcare that set us off? No. But that EU debt that’s been periodically blowing up came from somewhere. Look at entitlement reform now taking place in Sweden.
To be totally honest, there’s a lot in PPACA that I actually like.
I don’t care that we’re trying to make sure everyone has access to healthcare – despite my outrage. I just think there are a dozen better ways to go about it. There’s been no discussion of cost of services or care quality – this was an insurance bill – and no one thought through what this was going to do. 2008-2012 has not been a real great time to implement highly disruptive programs. Some nonsense about bending the cost curve (???) and full bore ahead…
Well tell me how great you think these initiatives are 01/01.
I also have no patience for anyone trying to argue that the impending disruption is somehow the fault of the GOP. That’s just nonsense. This was entirely a Democrat measure. They get all the credit, the good and the bad.
what about your specious “Fed has my back” argument?????? you think the 85 bil is going to stop anytime soon? hell, it will probably get larger. While there will be dips, this market is no longer allowed to STAY down.
(laughter) that was just a little irrational craziness. You have to be a little crazy to make any money lately.
This is the summer. Miracles can’t happen in the summer. Only oil spills.
Thanks for confirming my speculations re: this fiasco. I echo your second half plan.
O’care was passed via continuing resolution, while both houses were controlled by the Dems. It was a cheap shot and remains so. Welcome to the age of mediocrity with respect to healthcare. look at the waste and fraud in Medicare, That will skyrocket with this plan. Get ready for a 2 tier system.
I think it might be better if health care is more market-based. It costs so much because insurance and public perception of the right to health care results in a “put” on market price. I am not saying there should be no insurance available, just remove the expectation that any and all health care should be paid for.
This country just needs to calm down, regarding expectations, privilege, entitlement, ordainment, etc. If the losers win, why bother to win?
More- I’m not saying skilled medical practitioners should make low wages. But rather, that an endless back stop on pricing moves health care in the direction of defense spending- i.e. the absurdity of the $100 hammer. Let health care pricing find its own level, without “QE”.