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Bailing Out Health Insurers
and Helping Obamacare

Weekly Standard, by Jeffrey H. Anderson

Original Article

Posted By:Desert Fox, 1/13/2014 3:15:06 PM

Robert Laszewski—a prominent consultant to health insurance companies—recently wrote in a remarkably candid blog post that, while Obamacare is almost certain to cause insurance costs to skyrocket even higher than it already has, “insurers won’t be losing a lot of sleep over it.” How can this be? Because insurance companies won’t bear the cost of their own losses—at least not more than about a quarter of them. The other three-quarters will be borne by American taxpayers. For some reason, President Obama hasn’t talked about this particular feature of his signature legislation. Indeed, it’s bad enough that Obamacare is projected by the

      


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Reply 1 - Posted by: nosillod, 1/13/2014 3:36:21 PM     (No. 9690532)

This explains a lot to me. My son needs a treatment every other month that the hospital used to bill $11,000 dollars for and the insurance company would pay $7500. This year the hospital billed, first $17,500 and then $18,900, for the same treatment. The insurance company paid $11,800 and then $13,000 for the same treatment. First, why would the hospital raise the cost so much from one year to the next? And then why would the insurance company pay it? Remember that there is a clause in Obamacare where the insurance companies can´t make more than x% profit on a policy or it has to pay back some of the premium to the policy holder. If it allows the hospital to bill high amounts, then there is no profit to show. However if the insurance company loses money, we taxpayers will make up the difference. Now, let´s suppose that the insurance companies have as part of their agreements with in plan hospitals to get money back from claims paid? This type of thing happens in all kinds of businesses. Unethical, yes. Allowed under Obamacare, my guess, yes. Remember, the insurance industry was all for Obamacare.

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Reply 2 - Posted by: Ben Around, 1/13/2014 3:45:29 PM     (No. 9690547)

"it’s a sort of private-public hybrid" - more comonly referred to as corporatism or fasclism. It shouldn´t come as a suprise to anyone who has been paying attention to what has been going on for the last 50 years.

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Reply 3 - Posted by: Grady, 1/13/2014 3:53:22 PM     (No. 9690556)

So to the American people is this a Fine on top of a Tax
or a Tax on a tax. This is an additional burden on
Americans that was not argued at the supreme court.
It should be repealed for this alone.

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Reply 4 - Posted by: slab, 1/13/2014 7:24:48 PM     (No. 9690747)

The govt. takeover of insurance companies begins now. The execs will stand in line for handouts until they go the way of GM or Chrysler, except this time there will be no discussion of a return to the private sector. We will have single payer without a shot being fired. The insurance-provider networks are all in place, waiting for orders from their (your) new masters.

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Reply 5 - Posted by: ColonialAmerican1623, 1/13/2014 11:25:42 PM     (No. 9691001)

If you have ever seen Laszewski in an interview, it´s not hard to see what side he is on.

He doesn´t feel your pain.


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