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Political discussion involving past and present political events, candidates and elections. Please read Msg #1 before posting.


Maybe not 100% but I think a huge % of increase was
Posted by Moneyman/TX of TX on 12/11/17 7:00pm Msg #71283
I think the huge insurance premium increases we have seen, at least a large % of the yearly increases since Obamacare, were a direct result of Obamacare in that insurance companies had to now only offer plans that the gov't said they must offer with all the bells and whistles and unnecessary insurance coverage and were not allowed to offer plans as they had in the past with only coverage that people were allowed to select from that fit their needs. What 30 or 60yr old man is ever going to require maternity coverage? Insurance premiums are in direct correlation to the coverage, or risk, the insurance company is being asked to assume. The more an insurance company covers, the higher the premium. That has always been the truth. It might be easier to see this principle when we think of our auto insurance; full verses just liability coverage; a $100 verses a $500 or $1000 deductible changes the premium dramatically.

When we speak of the increase in insurance premiums we must also take into account the huge increases to plan deductibles that are also a hidden premium increase. That cost is never included in the discussions; and those increases were 100% due to Obamacare. Before Obamacare you could purchase an 80/20 plan with a $1-2K deductible, now, companies are not allowed to even offer such plans.

Yes, insurance premiums were increasing on a yearly basis prior to Obamacare; however, no where near at the rate after Obamacare. I, like you, think that was (and still is in some part) due to the actual increasing health care costs. Obamacare was touted as something that was supposed to address that area specifically, it didn't. In fact, it added costs to a lot of health care. At a time where we had more injured than dead service members returning from war, along with the normal number of people in need of prosthetics, Obamacare added a new tax on any prosthetic (e.g. hand, leg, arm, etc) sold. Talk about taxing the people who can least afford it.

I think a certain amount of the yearly premium increase is also due to insurance companies knowing that they basically have guaranteed "customers" regardless of what they charge since the Obamacare tax bill mandated that citizens must purchase insurance or pay the gov't for not doing so. In instances such as that, where the gov't gets involved and demands that people purchase products from private companies, is one of the very few times that I would probably agree with some who rail against corporate greed and corporations taking advantage of consumers.
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Messages in this Thread
 Why you shouldn't ram through a bill without giving people - MikeC/TX on 12/6/17 4:10pm
 Re: Why you shouldn - shooterclay on 12/6/17 5:33pm
 Re: Why you shouldn - MikeC/TX on 12/7/17 4:12pm
 Re: Why you shouldn - shooterclay on 12/7/17 11:07pm
 Re: Why you shouldn - MikeC/TX on 12/8/17 5:57pm
 Re: Why you shouldn -  JanetK_CA on 12/9/17 2:05pm
 Re: Why you shouldn - MikeC/TX on 12/9/17 4:33pm
 Maybe not 100% but I think a huge % of increase was - Moneyman/TX on 12/11/17 7:00pm
 Re: Maybe not 100% but I think a huge % of increase was -  JanetK_CA on 12/12/17 1:59am
 Re: Why you shouldn -  Amigoaz on 12/9/17 8:18am
 Re: Why you shouldn - shooterclay on 12/10/17 12:42pm
 I don't think her words were taken out of context ... - Moneyman/TX on 12/11/17 6:14pm
 Re: I don - MikeC/TX on 12/12/17 3:18pm



 
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