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´Obamacare´ saves consumers
nearly $1.5 billion

Los Angeles Times, by Noam N. Levey

Original Article

Posted By:Ribicon, 12/5/2012 8:52:08 PM

Washington — Consumers saved nearly $1.5 billion in 2011 as a result of rules in President Obama´s healthcare law that limit what insurance companies can spend on expenses unrelated to medical care, including profit, a new analysis shows. Much of those savings — an estimated $1.1 billion — came in rebates to consumers required because insurers had exceeded the required limits. The study by the New York-based Commonwealth Fund also suggests that the Affordable Care Act forced insurers to become more efficient by limiting their administrative expenses, a key goal of the

Comments:
Down is sideways, morning is autumn.

Premiums are up sharply, deductibles have increased, allowable charges have been scaled back, and I don´t think the planned employer-paid portion of "Cadillac" coverage (i.e., that had by regular working people) being taxable as income has been phased in yet... not sure how much savings we can take!

      


Post Reply  

Reply 1 - Posted by: vesicant, 12/5/2012 8:55:09 PM     (No. 9050700)

If you believe any of that, I have this bridge I´d like to sell you.

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Reply 2 - Posted by: judy, 12/5/2012 8:59:38 PM     (No. 9050704)

Where´s my rebate???? My premiums went up.

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R-G1
  
R-VAR_AD


 
Reply 3 - Posted by: Scribelus, 12/5/2012 9:02:14 PM     (No. 9050708)

All the suckers and Democrats who believe this, stand on your heads and stay there until relieved!

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Reply 4 - Posted by: Sanspeur, 12/5/2012 9:05:06 PM     (No. 9050711)

Ole Noam is qualified to write this drivel..his dad is a doctor in Boston and Noam is a middle eastern studies major from Princeton.. Yep he knows his stuff...

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Reply 5 - Posted by: Skywise, 12/5/2012 9:06:04 PM     (No. 9050712)

Chocolate rations are up...

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Reply 6 - Posted by: athina, 12/5/2012 9:09:14 PM     (No. 9050714)

All young men named Noam are self-identified as having been brought up in a communist leaning household. Thus this report is automatically suspect.

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Reply 7 - Posted by: A Balrog of Morgoth, 12/5/2012 9:17:35 PM     (No. 9050719)

He uses the same logic to explain to his husband that he "saved money" by getting good deals on crap they never needed to buy in the first place.

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Reply 8 - Posted by: Ribicon, 12/5/2012 9:29:37 PM     (No. 9050729)

It´s also the same logic that makes people feel good when they get a tax "refund" that in reality reflects overpayment of taxes, with no interest.

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Reply 9 - Posted by: Northern Redman, 12/5/2012 9:34:55 PM     (No. 9050732)

That´s just 1% of the additional debt he added to consumers in 2011 by deficit spending.

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Reply 10 - Posted by: Pearson365, 12/5/2012 9:36:33 PM     (No. 9050734)

Spend over $2 trillion to save less than $1.5 billion. Ah, the new math.

Article´s purpose is serve as a source document for NPR, ABC, NYT, NBC stories highlighting just one aspect of OCare. Follow-on articles can ignore actual costs versus hollow savings by simply citing headline. The LAT and Noam understand propaganda.

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Reply 11 - Posted by: smcchk, 12/5/2012 9:46:50 PM     (No. 9050743)

Wow, what a view there is from down in the rabbit hole!

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Reply 12 - Posted by: oh-heck, 12/5/2012 9:52:26 PM     (No. 9050747)

This is one of many Obama rules. 90% of premiums must go to medical care payments. The rationale is that 5% goes to administration and 5% is allowed for profit. In contrast, Medicare, Medicaid, and Tri-Care claim to be profit-free and run with administrative costs of 5%. What goes unmentioned is that fraud is around 20%. Refunds averaged something less than $100. Meanwhile is why the PCIP (uninsured pool with preexisting conditions) is costing more than 2X per patient what the states average with their high risk pools.

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B-G1


 
Reply 13 - Posted by: ironchefw, 12/5/2012 9:53:47 PM     (No. 9050749)

A whole $1.5 Billion. We´re saved. More White House vacations.

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Reply 14 - Posted by: right-turn, 12/5/2012 9:54:05 PM     (No. 9050750)

Pure BS. Show me the bottom line of any insurer that has ponied up this kind of money and is still in business.

If Obama wants to save consumers a LOT of money .... don´t spend so much of their tax money. Sixteen and a half trillion in debt is not something to be proud of.

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Reply 15 - Posted by: hot coffee, 12/5/2012 9:54:13 PM     (No. 9050751)

Hahahahahahahahahahahahahahha

(Gasping for air)

Hahahahahahahahahahahahahahha

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Reply 16 - Posted by: SteelTurman, 12/5/2012 9:56:26 PM     (No. 9050755)

Lincoln was mistaken ...

... you can fool half the people and rule forever.

We are two generations into this idiocy and it will take that long to fix it.

Barring another great war, of course ...

... which may be in the offing right now.

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Reply 17 - Posted by: Patchy Groundfog, 12/5/2012 10:08:41 PM     (No. 9050761)

The Commonwealth Fund - a lefty front group for socialized medicine.

This is like asking the elves what they think of Santa Claus.

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R_DBL_B
  


 
Reply 18 - Posted by: razorx22, 12/5/2012 10:11:02 PM     (No. 9050763)

Now, everyone repeat after me...
"Thank you Dear Leader!"
You! In the back, that was not sincere enough!
In the cattle car you go!

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Reply 19 - Posted by: Dalen, 12/5/2012 10:14:55 PM     (No. 9050765)

I can´t wait until it´s up and running and we can´t get any medical care for lack of dotors that´s saving a lot of money but at least everyone will be insured - great work obama regime!

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Reply 20 - Posted by: hamrman, 12/5/2012 10:33:40 PM     (No. 9050778)

Bull-Loony...prove it!

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Reply 21 - Posted by: LanieLou, 12/5/2012 11:15:25 PM     (No. 9050813)

++++ Propaganda Alert ++++ Now they lie with abandon! United Health Care, an early adopter of ObieCare... just lowered reimbursements so most of the hospitals & doctors in my area no longer take UHC... as of last week.

And the authorized replacement doctors are all in Puerto Rico! Thanks, Obozo!

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Reply 22 - Posted by: fondis, 12/5/2012 11:30:44 PM     (No. 9050827)

Riiiight. I feel sooo much better.

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Reply 23 - Posted by: KTWO, 12/5/2012 11:31:02 PM     (No. 9050828)

Thanks for the info #12. Clearly said too.

Our medical fiasco is becoming so complex amateurs have no chance of really understanding it. And experience shows the government with all its experts doesn´t either.

But they don´t have to. And do not bear the consequences of their decisions.

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Reply 24 - Posted by: LAW428, 12/5/2012 11:33:57 PM     (No. 9050829)

Obama´s rape of the economy keeps rolling along, no matter what puff pieces are written by leftist rags.

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Reply 25 - Posted by: killerbee, 12/5/2012 11:49:27 PM     (No. 9050837)

Absurd. And the Democrats just lap it up and call everyone else stupid.

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Reply 26 - Posted by: rushie, 12/5/2012 11:56:03 PM     (No. 9050846)

The new IRS tax on Medical Devices will go into effect After Dec 31. 2.3 percent on GRoss sales of medical devices. I am certain that might even affect the "poor" people when they have to make a purchse. There will probably be a new tax announced every day on one thing or another that we didn´t know was in the bill!

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Reply 27 - Posted by: veritas, 12/6/2012 12:53:45 AM     (No. 9050888)

#22: Really? Me, too!

I´m also a little taller, and my eyes are a little bluer.

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Reply 28 - Posted by: Trigger2, 12/6/2012 5:55:24 AM     (No. 9050992)

LA Slimes...it figures. I want my rebate.

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Reply 29 - Posted by: WhamDBambam, 12/6/2012 6:57:14 AM     (No. 9051048)

$1.5 billion? At what expense?

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Reply 30 - Posted by: jalo1951, 12/6/2012 8:49:31 AM     (No. 9051231)

Yeah, right??? I "saved" so much that my premiums were going to be $400 a paycheck which equaled a third of my income before taxes. I had to drop my health insurance because it really was coming down to health insurance or groceries. Thanks a lot obama. You a-hole.

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Reply 31 - Posted by: eorsc, 12/6/2012 8:36:54 PM     (No. 9052693)

And how many Billion is it he has stolen from Medicare. Maybe we should ask AARP.

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