The Bomb Buried In Obamacare Explodes Today-Hallelujah!

[Cactusboy]

 

 

I have long argued that the impact of the Affordable Care Act is not nearly as big of a deal as opponents would have you believe. At the end of the day, the law is – in the main – little more than a successful effort to put an end to some of the more egregious health insurer abuses while creating an environment that should bring more Americans into programs that will give them at least some of the health care coverage they need.

 

 

There is, however, one notable exception – and it’s one that should have a long lasting and powerful impact on the future of health care in our country.

 

That would be the provision of the law, called the medical loss ratio, that requires health insurance companies to spend 80% of the consumers’ premium dollars they collect—85% for large group insurers—on actual medical care rather than overhead, marketing expenses and profit. Failure on the part of insurers to meet this requirement will result in the insurers having to send their customers a rebate check representing the amount in which they underspend on actual medical care.

 

This is the true ‘bomb’ contained in Obamacare and the one item that will have more impact on the future of how medical care is paid for in this country than anything we’ve seen in quite some time. Indeed, it is this aspect of the law that represents the true ‘death panel’ found in Obamacare—but not one that is going to lead to the death of American consumers. Rather, the medical loss ratio will, ultimately, lead to the death of large parts of the private, for-profit health insurance industry.

 

Why? Because there is absolutely no way for-profit health insurers are going to be able to learn how to get by and still make a profit while being forced to spend at least 80 percent of their receipts providing their customers with the coverage for which they paid. If they could, we likely would never have seen the extraordinary efforts made by these companies to avoid paying benefits to their customers at the very moment they need it the most.

 

 

read the rest on the link below

 

http://www.forbes.com/sites/rickungar/2011/12/02/the-bomb-buried-in-obamacare-explodes-today-halleluja/

[Marf]

Hmmm....

 

Just make insurance companies non-profit, I don't want to deal with percentages of profit and whatnot. That'd be an accounting/auditing nightmare. There are very few health insurance companies worldwide that are for-profit, outside of the United States'. Why's that relate? Well, all of their healthcare systems are better than ours. Fix that little problem and we will have healthcare concerned with care over profit, which every citizen will agree is the direction we need to go.

[HSKR]

Still not going to make it cheaper.

[Cactusboy]

Still not going to make it cheaper.

 

 

I just hope it's a step towards single payer.

[carlfense]

I'm surprised that this provision was largely ignored until recently.

[Sub-Husker]

I just hope it's a step towards single payer.

 

The joys of being a Vermonter... we will get there first!

[johnnyrodgers20]

Enjoy it while it lasts. Your children will be living in a bankrupt country so you can have your precious single payer system. The costs are going to go through the roof and this country will not be able to sustain it for more than a few years. Then you guys will be rioting in the streets when we have to pull a Greece and put in austerity measures. But you guys got to party for your lifetime what do you care about future generations?

 

http://washingtonexa...ential-treatmen

[gobiggergoredder]

Enjoy it while it lasts. Your children will be living in a bankrupt country so you can have your precious single payer system. The costs are going to go through the roof and this country will not be able to sustain it for more than a few years. Then you guys will be rioting in the streets when we have to pull a Greece and put in austerity measures. But you guys got to party for your lifetime what do you care about future generations?

 

http://washingtonexa...ential-treatmen

 

That couldn't happen here. Ahhh.....right?

[Malth]

Enjoy it while it lasts. Your children will be living in a bankrupt country so you can have your precious single payer system. The costs are going to go through the roof and this country will not be able to sustain it for more than a few years. Then you guys will be rioting in the streets when we have to pull a Greece and put in austerity measures. But you guys got to party for your lifetime what do you care about future generations?

 

http://washingtonexa...ential-treatmen

 

Please explain how the United States is able to go "bankrupt"

[Sub-Husker]

Please explain how the United States is able to go "bankrupt"

 

The power gets shut off from the printing presses?

[johnnyrodgers20]

Enjoy it while it lasts. Your children will be living in a bankrupt country so you can have your precious single payer system. The costs are going to go through the roof and this country will not be able to sustain it for more than a few years. Then you guys will be rioting in the streets when we have to pull a Greece and put in austerity measures. But you guys got to party for your lifetime what do you care about future generations?

 

http://washingtonexa...ential-treatmen

 

Please explain how the United States is able to go "bankrupt"

 

If the default world currency (The US dollar) becomes that of another nation or nations then our dollar becomes just our currency. Then we would not be able to print our way out of the mess we are in. For example oil is now sold in terms of dollars. They exchange the currencies from all the other countries into dollars to determine how much a barrel of oil is worth. Once we are no longer the world's currency we are going to have to live within our means. And then we will feel the true effects of all the spending and debt we have accrued from wasteful and irresponsible spending of our govt.

[carlfense]

How would things change if the dollar wasn't the "default world currency" as you call it?

 

I'm looking for a more detailed explanation than "we couldn't print our way out of trouble."

 

[Malth]

If the default world currency (The US dollar) becomes that of another nation or nations then our dollar becomes just our currency. Then we would not be able to print our way out of the mess we are in. For example oil is now sold in terms of dollars. They exchange the currencies from all the other countries into dollars to determine how much a barrel of oil is worth. Once we are no longer the world's currency we are going to have to live within our means. And then we will feel the true effects of all the spending and debt we have accrued from wasteful and irresponsible spending of our govt.

 

So how exactly do we go from being the "default world currency" to not the "default world currency"?

 

And how is it really a debt if money is just pulled out of thin air?

[johnnyrodgers20]

If the default world currency (The US dollar) becomes that of another nation or nations then our dollar becomes just our currency. Then we would not be able to print our way out of the mess we are in. For example oil is now sold in terms of dollars. They exchange the currencies from all the other countries into dollars to determine how much a barrel of oil is worth. Once we are no longer the world's currency we are going to have to live within our means. And then we will feel the true effects of all the spending and debt we have accrued from wasteful and irresponsible spending of our govt.

 

So how exactly do we go from being the "default world currency" to not the "default world currency"?

 

And how is it really a debt if money is just pulled out of thin air?

 

That happened after WWII when Britian was the default world currency. There were worries about their debt and they changed the default currency to the dollar. There have been talks by Opec and other arab nations about changing the world currency. Some have suggested the yuan from China. China and Russia are also trying to move the default currency away from the dollar. I am not sure it will happen any time soon but you never know.

 

When you PULL MONEY OUT OF THIN AIR it has consequences. Things like inflation, it is being held in check artifically by keeping down interset rates but you can't hold it down long. Other issues start to pop up that are not controlled by interest rates like oil and gas prices. Food, just look at your food bill and think back to a year ago. Inflation is going up and printing more money only exacerbates the situation.

[carlfense]

If the default world currency (The US dollar) becomes that of another nation or nations then our dollar becomes just our currency. Then we would not be able to print our way out of the mess we are in. For example oil is now sold in terms of dollars. They exchange the currencies from all the other countries into dollars to determine how much a barrel of oil is worth. Once we are no longer the world's currency we are going to have to live within our means. And then we will feel the true effects of all the spending and debt we have accrued from wasteful and irresponsible spending of our govt.

 

So how exactly do we go from being the "default world currency" to not the "default world currency"?

 

And how is it really a debt if money is just pulled out of thin air?

 

That happened after WWII when Britian was the default world currency. There were worries about their debt and they changed the default currency to the dollar. There have been talks by Opec and other arab nations about changing the world currency. Some have suggested the yuan from China. China and Russia are also trying to move the default currency away from the dollar. I am not sure it will happen any time soon but you never know.

 

When you PULL MONEY OUT OF THIN AIR it has consequences. Things like inflation, it is being held in check artifically by keeping down interset rates but you can't hold it down long. Other issues start to pop up that are not controlled by interest rates like oil and gas prices. Food, just look at your food bill and think back to a year ago. Inflation is going up and printing more money only exacerbates the situation.

I think Britain (although an island) would be a bulky and inconvenient currency.