Category Archives: General

More Broken Obamacare Promises – Healthcare Costs Rising at an Alarming Pace

Too bad Nancy Pelosi could not have taken the time to actually look inside the 2000+ pages of the Obamacare law to see what little goodies were stashed away in the Pandora’s box Congress created.

On the outside of the box was a gift-wrapped promise:  Lower healthcare costs for everyone.

As reality sets in, however, few people are happy.

In reality, healthcare costs are rising at an alarming rate – and we’re only a few months into this monster.  The really big increases have only begun to percolate.

In other words, if you think health insurance is expensive now, just wait a few months.  Maybe a couple of years.

As this article from Stateline indicates, premiums have jumped an average of 16% already, and as much as 30% (or more) in some areas.

There is no shortage of theories for how to solve this little problem; indeed, please reference the Stateline article for some rather keen insights.

Here’s my take – as a broker with over 30 years experience.

It’s simple:  Stop blaming the insurance companies.

They only pay the bills.  It’s the bills we have to get our fists around.

The insurance premiums reflect the actual expenses paid by insurers, plus a small profit.  As a result of Obamacare, administrative costs, including profits, are capped – by law. Also check out Pharma Watch Dog to see if you or a relative are a victim of risperdal side effects.

So why are states bothering with trying to force insurers to keep rate increases down? At the end of the day, if rate increases are too high, insurers will be forced to rebate consumers.

Have the regulators missed that little tidbit?

Stop blaming the insurance companies.  Repeal this monstrosity and let’s sit down like grown adults and figure out a more viable long term solution to this nightmare.

Enrollment in health savings accounts up 87% since 2008

According to Forbes, more than 11 million Americans are now covered by an HSA plan.  That’s up 14% in one year and a mind-boggling 87% increase since 2008. Find the Forbes article here.

Health savings accounts were introduced as part of the Medicare Reform Act in 2004.  A health savings account combines a high deductible insurance plan (HDHP) with a tax-sheltered savings account that is similar to an IRA.

Deposits into the savings account are 100% tax deductible and can easily be accessed via check or debit card to pay for routine medical bills with tax-free dollars.  The high deductible plan provides valuable protection above the selected deductible amount.  Premiums are paid to an insurance company to provide the coverage under the insurance plan but those premiums typically are much lower than traditional plan premiums.

You can get quotes from major insurers that offer HSA-qualified high deductible plans through our site by clicking this link: Get HSA quotes.

For additional information, use the “contact” link and drop us an email or give us a call.

Our agency has been marketing these plans since day 1and we’ve been marketing medical savings accounts, the predecessor to health savings accounts, since 1999.

Obama’s Lawyer: Don’t Like the Individual Mandate? Just Make Less Money

In what can only be described as an incredulous turn of events, the Obama administration has gone from arguing “it’s a tax” to “make less money” in its effort to stave off legal challenges to the healthcare reform law.

Originally, the administration had tried to argue that the penalty for not purchasing individual coverage was just a tax, and as such, clearly met constitutional muster under the Taxing Clause.  But that argument has seen its better day, especially after being shredded apart by one lone Federal Judge in Florida.

Noting that the purchase requirement only kicks in after a minimal amount of income, acting Solicitor General Neal Katyal suggested to a Sixth Circuit panel that the way around the mandate simply is to make less money.  In most cases, a LOT LESS money.  Since even an hourly employee at McDonald’s would presumably make too much to avoid the mandate, most people would not make enough money to buy weekly groceries if they wanted to ensure that their income would not trigger the mandate.

This shows how desperate the administration is to salvage this mess – at any cost.  Instead of going back to the table and finding workable solutions with Republicans, the Democrats have held steady while their ship sinks deeper and deeper in the troubled legal waters.

As I’ve mentioned previously on this blog, we all had better hope that the court system shuts the door on this silly idea that the Government can force people to buy individual products or services from private companies.  Otherwise, we may all be forced to buy broccoli – if the Government says we must.

Our legal system has all but eradicated the 10th Amendment.  Hopefully, the Tenth can regain some footing during this process.

CDR