The House Bill Would Mean a Tax Hike for Millions of Seniors. Learn More

Trusted Social Butterfly
Posts: 7,098
Registered: ‎02-14-2008


[ Edited ]
Message 1 of 5 (456 Views)

Agree with premium structure, but that alone won't solve the problem as Easyed's example shows. So, we're always back to the fed needing to provide supplementation, and of course, that is a major part of the ongoing debate. 

   As has been stated before, people with pre-existing health issues are not getting 'insurance'. They will never come anywhere near paying their cost. They are looking for 'coverage'.

Just think. The world was built by the lowest bidder.
Valued Social Butterfly
Posts: 11,063
Registered: ‎06-07-2010


Message 2 of 5 (465 Views)

Premiums should be structured based on risk as all insurance policies are.  If you live in a city with high crime rates, both auto and homeowners insurance will be high.  If you live in hurricane prone areas, homeowners insurance will be high.  If you are older, have high blood pressure, or a myriad of other health issues, your life insurance costs will be high.  It makes sense to have low risk younger people shoulder less of the healthcare burden and the older ones higher.  Those with pre existing conditions will have very high premiums as do poor drivers (with auto insurance).

Trusted Social Butterfly
Posts: 9,346
Registered: ‎09-03-2008


Message 3 of 5 (478 Views)

Pre-existing condition is the sticking point with insurance companies. People not signing up for health insurance until they get sick is a non starter for insurance companies who Congress want to participate. Insurance  companies have to answer to their share holders and to the overall financial success of the business.Asking a insurance company to take on a lost they know will occur makes no sense to them or any other sucessful business. My neighbor`s wife accumulate $315,000 in medical bills when she had Ovarian cancer . His small company paid $30,000/year in premiums for all it`s employees so it would take over 10 years for the insurance to  recoup  what it paid out(providing no one else got sick in that time period). After they paid out all the claims they later drop the whole company leaving his company to find a new insurer.

Valued Social Butterfly
Posts: 1,485
Registered: ‎03-06-2012


Message 4 of 5 (499 Views)

Two reasons for fear. 1. Insurer,s warnings and 2. Ted Cruz

Valued Social Butterfly
Posts: 4,826
Registered: ‎07-27-2011


Message 5 of 5 (526 Views)

Insurers warn Cruz provision will 'skyrocket' premiums for sick people
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The Hill
Peter Sullivan
9 hrs ago

© Provided by The Hill Insurers warn Cruz provision will 'skyrocket' premiums for sick people
The two leading health insurer trade groups sent a strongly-worded letter Friday expressing opposition to a controversial conservative provision included in the latest GOP ObamaCare replacement bill.

America's Health Insurance Plans and the Blue Cross Blue Shield Association warned that the provision from Sen. Ted Cruz (R-Texas) would mean "premiums will skyrocket for people with preexisting conditions" and "millions of more individuals will become uninsured."
The letter expresses opposition to a provision, included in the new GOP repeal bill, that would allow insurers to sell plans that do not meet ObamaCare regulations, including the ban on discrimination based on pre-existing conditions, if they also sold plans that did meet the requirements.
Conservatives argue this move would allow younger, healthier people to buy cheaper plans.
The insurers, and many health experts, warn that only sick people would remain in the more expensive, more generous ObamaCare plans, leading to premium spikes for people with pre-existing conditions.
"This would allow the new plans to 'cherry pick' only healthy people from the existing market making coverage unaffordable for the millions of people who need or want comprehensive coverage, including, for example, coverage for prescription drugs and mental health services," the letter states.
The insurers add that the funding in the bill that seeks to bring down costs for people with pre-existing conditions is "insufficient," and even additional funding would not make the provision work.
"As healthy people move to the less-regulated plans, those with significant medical needs will have no choice but to stay in the comprehensive plans, and premiums will skyrocket for people with preexisting conditions," the letter states.
"Finally, this provision will lead to far fewer, if any, coverage options for consumers who purchase their plan in the individual market," the letter adds. "As a result, millions of more individuals will become uninsured."
The rare joint letter from the two major insurer groups is also a departure from insurers' general stance throughout the ObamaCare repeal debate, where they have usually declined to take a firm position either in favor or against the GOP bills.
Several moderate Republicans had previously objected to the Cruz amendment, but many have said they are undecided and still reviewing the revised bill, which includes the provision.