Saturday, July 18, 2015

ObamaCare Bears

Bears is a term applied to Stock Market pessimists. But now, Bears in the national media are deploying Bears to ObamaCare.

What follows is a sampling of titles of bad news media stories.

“As Medicaid Turns 50, Debate on Expansion Turns Bitter”

One of the seldom told ObamaCare stories is the unprecedented growth of Medicaid under the health exchanges. Enrollment has expanded by 11 million under the exchanges. It now surpasses 70 million and is on track to 100 million by 2020. Many GOP governors are staying they cannot afford this expansion, and some are asking Medicaid patients to pay for part of their care.

“Phony Applicants Approved for Subsidies and Allowed to Re-Enroll in Health Plans.” This is based on a small study of 11 fake patients created to show the potential for fraud in ObamaCare. Since most general government programs over time have about a 10% fraud rate, critics say the study is just the tip of the iceberg.

“Choice of Doctors and Hospitals Limited in Health Plans.”

If you have an ObamaCare-compliant plan, your changes of retaining your current doctor are about 58% and your current hospital about 74%. Otherwise, you’re going to have to shop around to find what doctor and what hospital may accept you. You may be disappointed because 25% of Medical Group Management members say they will not take those in health exchange plans. And you can not find the takers and non-takers until you call.

“IRS Gets Poor Marks for Its Delivered Services under ObamaCare.” ObamaCare has imposed an extrordimnary burden upom an already beleaguered IRS, which is under the gun for its selective denial of conservative group requests. It is also responsible for deciding who qualifies for subsidies. The IRS complains it is short on funds. In any event, it is only responding to 37% of phone calls, and you often have to wait to discover the IRS cannot respond to your request for information. If jr IRS keeps this up, it will become known at the “Infernal Revenue Service.”

“ObamaCare’s Prices Keep Surging.” Many ObamaCare plan insurers, who now have a full year of data, on what health law plans really cost, could see hikes of 30%, 40%, and even 50%, with an average increase of 11.2%. Things will get worse after 2016, federal bailouts through “risk corridors” expire, and when “reinsurance” for the most expensive patients stop. The average individual can expect a yearly spike of yearly premiums from $3.200 to $3,700 with family premiums going from $13.000 to $15.400. By 2023,the average family plan could be 61% more than in 2015. Despite the Supreme Court’s recent King v. Burwell decision upholding ObamaCare, the Affordable Care Act will become more unaffordable for many Americans.

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