Obamacare to Cost Trillions Less than Originally Forecast

CharminTide

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Oh, and uninsured rates are the lowest they've ever been. Despite the criticism during and after its passing, it seems that Obamacare hasn't exploded the national budget.

WaPo: U.S. will spend $2.6 trillion less on health care than expected before Obamacare, study projects

A new study predicts that the federal forecast of national health care spending under President Obama's signature health law was a big overestimate — by $2.6 trillion over a five-year period.

Expanding health insurance coverage to millions of Americans was bound to increase overall spending. After the Affordable Care Act was passed in 2010, the actuaries for the Centers for Medicare and Medicaid Services projected that, as the economy recovered, the historically low growth in health spending would return to higher levels, reaching $4.6 trillion by 2019. But in the intervening years, the annual expenditure increases have been more modest than expected, and the new estimate from the Urban Institute suggests national health spending is on to track reach $4 trillion by 2019.

 

crimsonaudio

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There are things I'm not crazy about regarding the ACA, but it;s been beneficial to my family, even though we still carry the same private insurance. Rates have remained low, and despite our plan not meeting the ACA requirements, we've seen zero penalty.

That's not the politically correct stance to take from Those Who Hate Everything Obama, but hey...
 

danb

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I'm not privy to all the details around Obamacare, because I've always sacrificed and made sure my family had health insurance (even meaning I had to work 2-3 jobs)...All I really can say knowingly, is that since this went into effect, my employer dropped our coverage down a couple levels, and doubled our cost out of our pay checks.....

They claim BC/BS rates went up after all of this. Whether or not it's true, it has been hitting home hard for me and mine......I'm so happy everyone can applaud what's been done, y'all are obviously in a lot better position than I (a 43 y/o who's worked 2-3 jobs the majority of his life to do right by his family...) so thank our wonderful POTUS for me.....because I sure as hell won't......


And for those who sing its praises.....please, PM me and let me know how to join in....because it has only reduced my good insurance.....into useless insurance (unless a major terminal illness happens).....

Sent from my iPhone using Tapatalk
 
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TideEngineer08

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I'm not privy to all the details around Obamacare, because I've always sacrificed and made sure my family had health insurance (even meaning I had to work 2-3 jobs)...All I really can say knowingly, is that since this went into effect, my employer dropped our coverage down a couple levels, and doubled our cost out of our pay checks.....

They claim BC/BS rates went up after all of this. Whether or not it's true, it has been hitting home hard for me and mine......I'm so happy everyone can applaud what's been done, y'all are obviously in a lot better position than I (a 43 y/o who's worked 2-3 jobs the majority of his life to do right by his family...) so thank our wonderful POTHUS for me.....because I sure as hell won't......


And for those who sing its praises.....please, PM me and let me know how to join in....because it has only reduced my good insurance.....into useless insurance (unless a major terminal illness happens).....

Sent from my iPhone using Tapatalk
My experience with my employer has been similar, though not as bad. I'll not be singing any praises anytime soon.
 

crimsonaudio

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I'm not privy to all the details around Obamacare, because I've always sacrificed and made sure my family had health insurance (even meaning I had to work 2-3 jobs)...All I really can say knowingly, is that since this went into effect, my employer dropped our coverage down a couple levels, and doubled our cost out of our pay checks.....

They claim BC/BS rates went up after all of this. Whether or not it's true, it has been hitting home hard for me and mine......I'm so happy everyone can applaud what's been done, y'all are obviously in a lot better position than I (a 43 y/o who's worked 2-3 jobs the majority of his life to do right by his family...) so thank our wonderful POTUS for me.....because I sure as hell won't......


And for those who sing its praises.....please, PM me and let me know how to join in....because it has only reduced my good insurance.....into useless insurance (unless a major terminal illness happens).....
I'm self employed so we switched to TRH (Farmer's) health plan after absorbing increase after increase from BCBS. We switch about five years ago and our rates for the same coverage literally dropped by 1/3. Even now, we pay ~$500/month for the family, which include vision and dental. Keep in mind we treat insurance as insurance, not some sort of health savings plan (we have a HSA to cover expenses with tax relief). The CHEAPEST ACA plan that compared to ours (but was worse) was almost twice what we pay, so we kept our plan. The benefits of forcing insurance coverage, of allowing us to keep our kids under plan past age 18, free preventive care, etc are great.

I've herd of some getting screwed, but most people who view insurance as a 'just in case' have come out ahead, ime.
 

mittman

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Both of those statements make sense if you bend everything around to make it look good.

Problem is that numbers of uninsured may be lower, but many formerly insured are not getting good coverage.

The total expenditure PROJECTIONS may be less (we all know that projections mean nothing), that does not mean that rates are not going up, and what is covered is getting less.

The total costs are also shifted from private to public. You may think the government is more efficient. I have no confidence in that.

Finally, the entire article is full of qualifying statements. It mostly points to the recession and continuing slow economy as the major factor, not the merits of the program or policies. Do you really think that the program is in anywhere near a sustainable financial position?

I am spending a LOT more and getting a LOT less, but that is just anecdotal. I would find a study to that effect much more interesting. All I am hearing is, "Well we thought it was going to be horrible on our budget. It is. It's gonna get worse, but for now it is not as horrible as we thought."
 
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bama_wayne1

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Now be prepared for the government to add free stuff to consume the remainder of the forecasted budget....
Have you EVER heard of a government budget that wasn't completely consumed/wasted in order to retain *their* funds.
 

danb

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An example of how my coverage changed (and the premium doubled).......

Approx 4 years ago, I had to have an upper GI scope done. Total out of pocket expense was $150. In December of last year, I had to have the exact procedure done again...this time I had to pay $200 up front before the procedure, then got a bill a month later for $396 from the Anesthesiologist. This was on top of the $50 copay to the gastroenterologist for him to talk to me and to set up the procedure, then another $50 afterward for him to discuss the results! Good Insurance!!!


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Jessica4Bama

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I want to know why mine keeps going up every year even though I'm on the same plan? Luckily mine is paid through our company, but still I don't see how it's really affordable.

A few years ago, I had to get a shot in my knee. When we got the bill it was over $800 because I hadn't met my deductible. For a five minute doctor visit and 1 cc of medication in my knee came out to over $800.
 

NationalTitles18

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Of course this is an estimate only of total healthcare expenditures in the US and NOT the cost paid by governments or in insurance premiums. I share the opinion (with some people a lot smarter than me) that the sluggish economy is having an effect here. Color me not impressed.
 

bamacon

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I want to know why mine keeps going up every year even though I'm on the same plan? Luckily mine is paid through our company, but still I don't see how it's really affordable.

A few years ago, I had to get a shot in my knee. When we got the bill it was over $800 because I hadn't met my deductible. For a five minute doctor visit and 1 cc of medication in my knee came out to over $800.
That's because the ACA deductibles are 6,000 bucks per person. It has absolutely shattered us because we are having to help my mother in law. She bragged about her 2 dollar premium, oh she was sooooo proud. I tried to tell her that the first time she went to the doctor or hospital she'd get a bill she would not believe. First year she has over 3 thousand dollars from two trips to the hospital. She's on a fixed income so who is she turning to for help??? It ain't Obama.


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Bubbaloo

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If there is anything in life that I'm sure of it's "figures don't lie, but, liars figure". My insurance has gone from
great coverage with a low deductibles, $25 co pays, and $7500.00 total out of pocket (your 80/20 coverage) at which point everything is covered at 100%. These items have all doubled over the last few years except my premiums, which have only increased 42%.

Yes, it's working great for me.( blue and more blue to follow)

I think we can cover everyone in the nation for a $5.00 monthly premium. One size fits all with a 1,000,000,000 deductible. 100 PERCENT coverage and we can celebrate Bubbaloo Care while we collect 1,500,000,000 as a new source of revenue without paying anything out. We can always increase premiums at our leisure while maintaining our own "Cadillac Plan" coverage at the expense of the taxpayers.

Now that's another program that only the government can be proud of--- SMH
 

TheAccountant

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My deductibles and co-pays have doubled since ACA while premiums have risen. My employer is also having to shell out an additional 7 figures to Uncle Sam which they could have reinvested in the company.

It's not rainbows and sunshine and pot o' golds for everyone.
 

mittman

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Jun 19, 2009
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I'm self employed so we switched to TRH (Farmer's) health plan after absorbing increase after increase from BCBS. We switch about five years ago and our rates for the same coverage literally dropped by 1/3. Even now, we pay ~$500/month for the family, which include vision and dental. Keep in mind we treat insurance as insurance, not some sort of health savings plan (we have a HSA to cover expenses with tax relief). The CHEAPEST ACA plan that compared to ours (but was worse) was almost twice what we pay, so we kept our plan. The benefits of forcing insurance coverage, of allowing us to keep our kids under plan past age 18, free preventive care, etc are great.

I've herd of some getting screwed, but most people who view insurance as a 'just in case' have come out ahead, ime.
I wish that last statement was the case. The major problem with the systems in place is that is not possible for a great deal of people, especially those with medical problems. The cost (with litigious environment, bureaucracy, and profit for insurance companies/healthcare providers built in) models do not allow for most people to pay for what should be minor procedures and visits out of pocket. The high deductibles of many of the current plans are informing everyone of just that problem.

IMO (and I sometimes sound like a broken record about it) that is the whole of the problem. We are continuing to try to fix the problem with the problem. If I am right the only way to really fix the problem is a great deal of tort reform and a revert to where the costs of basic healthcare are not filtered through an insurance provider.
 

CharminTide

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I'm betting Charmin wishes he'd never started this thread!
I'm betting you're used to being wrong.

Look, I never expect agreement here whenever I post something positive about Obama or the current administration. But I do think it's a worthy goal to disrupt the groupthink that often surrounds us. And this is true on both sides of the political spectrum--why else do I read this board after watching, say, MSNBC? Certain stories are emphasized or downplayed depending on your source, I feel that a broader perspective will always be better than a narrow, curated view.

Personally, Obamacare has been great for me and my family. But much of your experience depends on where you live, and how much the state and private insurers within your state have embraced the program.
 

CrimsonNagus

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What's funny is that the company I work for just informed us that monthly premiums for family coverage will be increasing by $198 starting in September.

Why are they going up? Well, according to HR, there is a provision in the ACA that says that all employees must receive equal benefits. Currently the company pays 50% of everyone's premiums. The government doesn't consider everyone getting 50% equal because the dollar amounts are different for single vs family coverage. So, the company is now going to pay the same dollar amount for everyone. Now they are going to pay 76% of the monthly premium for singles but, only 33% for families. It's great that those on the single plan will save some money but, they all need to thank us families because we are the ones paying for it.

Come September, the ACA will have reduce my paycheck by almost $300/month since it was enacted (this doesn't include the increase in co-pays and skyrocketing deductibles).
 

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