Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
No, You Can't Keep Your Health Plan
Old 05-19-2010, 01:25 PM   #1
Thinks s/he gets paid by the post
MasterBlaster's Avatar
 
Join Date: Jun 2005
Posts: 4,359
No, You Can't Keep Your Health Plan

WSJ Article:

Scott Gottlieb: No, You Can't Keep Your Health Plan - WSJ.com

Quote:
President Obama guaranteed Americans that after health reform became law they could keep their insurance plans and their doctors. It's clear that this promise cannot be kept. Insurers and physicians are already reshaping their businesses as a result of Mr. Obama's plan.
__________________

__________________
MasterBlaster is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 05-19-2010, 05:37 PM   #2
Administrator
Gumby's Avatar
 
Join Date: Apr 2006
Posts: 10,164
From the article's description of its author

Dr. Gottlieb, a former official at the Centers for Medicare and Medicaid Services, is a fellow at the American Enterprise Institute and a practicing internist. He's partner to a firm that invests in health-care companies.

Considering his economic incentives, I take what he says with a grain of salt.
__________________

__________________
Living an analog life in the Digital Age.
Gumby is online now   Reply With Quote
Old 05-19-2010, 08:19 PM   #3
Full time employment: Posting here.
 
Join Date: Nov 2009
Location: VA
Posts: 923
You can take what he says with a grain of salt, but all you have to do is talk to a few doctors and talk to a few policyholders from companies that are dumping plans and massively increasing rates due to the new laws. If you like your plan, you can keep it....if you can pay a 50% rate increase and the company continues to offer it. If not, you're going to be in a pretty crappy situation from here on out.
__________________
dgoldenz is offline   Reply With Quote
Old 05-19-2010, 08:26 PM   #4
Moderator Emeritus
Martha's Avatar
 
Join Date: Feb 2004
Location: minnesota
Posts: 13,212
Well, companies and insurers were reshaping health plans before reform, with more and more businesses dropping insurance because of the cost. Massive increases in rates and increasing numbers of uninsured predated changes in the law so we have to be careful about assigning blame and saying problems are due to the new law.
__________________
.


No more lawyer stuff, no more political stuff, so no more CYA

Martha is offline   Reply With Quote
Old 05-19-2010, 08:33 PM   #5
Full time employment: Posting here.
 
Join Date: Nov 2009
Location: VA
Posts: 923
Quote:
Originally Posted by Martha View Post
Well, companies and insurers were reshaping health plans before reform, with more and more businesses dropping insurance because of the cost. Massive increases in rates and increasing numbers of uninsured predated changes in the law so we have to be careful about assigning blame and saying problems are due to the new law.
I was not talking about businesses changing their employee benefits. I was talking about people like me and many others on this board who buy their health insurance on the individual market. Several companies have already announced they will no longer be selling insurance in the individual market. Assurant has announced they will no longer guarantee rates for 12 months. Aetna has given existing policyholders a yearly increase AND an increase based on the new reform mandated benefits. Aetna policyholders who moved into a higher age bracket got the triple whammy. United Healthcare has already announced they will no longer offer child-only policies. This is only the beginning, and all of it is directly related to the bill. You're sticking your head in the sand if you think otherwise.
__________________
dgoldenz is offline   Reply With Quote
Old 05-19-2010, 08:36 PM   #6
Moderator Emeritus
Martha's Avatar
 
Join Date: Feb 2004
Location: minnesota
Posts: 13,212
Whatever.
__________________
.


No more lawyer stuff, no more political stuff, so no more CYA

Martha is offline   Reply With Quote
Old 05-19-2010, 08:39 PM   #7
Full time employment: Posting here.
 
Join Date: Nov 2009
Location: VA
Posts: 923
Quote:
Originally Posted by Martha View Post
Whatever.
That seems to the response of choice from those choosing to ignore reality. Nothing personal.
__________________
dgoldenz is offline   Reply With Quote
Old 05-19-2010, 08:47 PM   #8
Thinks s/he gets paid by the post
DblDoc's Avatar
 
Join Date: Aug 2007
Posts: 1,224
Much of what that article references was taking place long before health care reform was passed. So now the rules have changed and the insurance companies will do whatever it takes to maximize their profits. Is this a surprise? Single payer anyone?

DD
__________________
At 54% of FIRE target
DblDoc is offline   Reply With Quote
Old 05-19-2010, 08:49 PM   #9
Moderator
ziggy29's Avatar
 
Join Date: Oct 2005
Location: Texas
Posts: 15,613
Quote:
Originally Posted by DblDoc View Post
Much of what that article references was taking place long before health care reform was passed. So now the rules have changed and the insurance companies will do whatever it takes to maximize their profits. Is this a surprise? Single payer anyone?
I think both government and insurance companies are playing a game of chicken here. I suspect insurance companies will lose, whether they should or not -- because if they respond by pulling out of markets and jacking up premiums 20-30% a year or more as a result of the new law, all they'll do is get people to demand the public option.

Then again, maybe that's what the legislators were hoping would happen...
__________________
"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)

RIP to Reemy, my avatar dog (2003 - 9/16/2017)
ziggy29 is offline   Reply With Quote
Old 05-19-2010, 08:50 PM   #10
Full time employment: Posting here.
 
Join Date: Nov 2009
Location: VA
Posts: 923
Quote:
Originally Posted by ziggy29 View Post
I think both government and insurance companies are playing a game of chicken here. I suspect insurance companies will lose, whether they should or not -- because if they respond by pulling out of markets and jacking up premiums 20-30% a year or more as a result of the new law, all they'll do is get people to demand the public option.

Then again, maybe that's what the legislators were hoping would happen...
Ding ding ding, we have a winner...
__________________
dgoldenz is offline   Reply With Quote
Old 05-19-2010, 09:29 PM   #11
Full time employment: Posting here.
 
Join Date: Mar 2008
Posts: 654
The reform debate turned into a circus.
The politicians on both sides seemed to be bought out by the lobbyist.
I'm not sure if the common working people benefited at all.
Got to keep in mind that lots of working people need insurance even if they work for themselves and not part of mega corp.
Whats the difference in a 1000 people working for themselves/in business and a 1000 working for a big company?
Everyone should be able to buy good health care at the same reasonable price.
Just my $.02,
Steve
__________________
Stevewc is offline   Reply With Quote
Old 05-19-2010, 09:43 PM   #12
Full time employment: Posting here.
 
Join Date: Mar 2008
Posts: 654
After actually reading the article, looks like it may get ugly for we the (retired) people that buy our own coverage. The powers that be will be busy fighting for the highest ground and we will pay for it.
It may balance out eventually but probably will take some years of higher premiums to get there.
Steve
__________________
Stevewc is offline   Reply With Quote
Old 05-19-2010, 11:09 PM   #13
Full time employment: Posting here.
toofrugalformycat's Avatar
 
Join Date: Mar 2007
Location: Anchorage
Posts: 731
I had individual private insurance and was dumped by my insurer when they pulled out of my state almost 10 years ago. They gave me one month's notice. Blame that on Obama if you dare.
__________________
toofrugalformycat is offline   Reply With Quote
Old 05-20-2010, 12:06 AM   #14
Thinks s/he gets paid by the post
 
Join Date: Jan 2004
Posts: 2,049
My rates have been going up by 10-20% annually for years. Can I blame the rate increases through 2008 on Bush and Clinton?
__________________
eridanus is offline   Reply With Quote
Old 05-20-2010, 08:20 AM   #15
Thinks s/he gets paid by the post
 
Join Date: Dec 2004
Posts: 1,798
Quote:
Originally Posted by ziggy29 View Post
I think both government and insurance companies are playing a game of chicken here. I suspect insurance companies will lose, whether they should or not -- because if they respond by pulling out of markets and jacking up premiums 20-30% a year or more as a result of the new law, all they'll do is get people to demand the public option.

Then again, maybe that's what the legislators were hoping would happen...
Many people have been stating this for a long time. Many others simply dismissed it as paranoia.
__________________
You don't want to work. You want to live like a king, but the big bad world don't owe you a thing. Get over it--The Eagles
lets-retire is offline   Reply With Quote
Old 05-20-2010, 08:37 AM   #16
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 16,538
Quote:
Originally Posted by eridanus View Post
My rates have been going up by 10-20% annually for years. Can I blame the rate increases through 2008 on Bush and Clinton?
Why not also blame the increasingly profitable insurance companies?

Audrey
__________________
Well, I thought I was retired. But it seems that now I'm working as a travel agent instead!
audreyh1 is online now   Reply With Quote
Old 05-20-2010, 08:38 AM   #17
Full time employment: Posting here.
 
Join Date: Mar 2008
Posts: 654
To add a little more fuel to the fire, I also want the same tax break on paying my premium as I was getting before walking out the mega corp gate.
Might as well shoot for the stars, right?
Don't you just love the insurance wars?

Steve
__________________
Stevewc is offline   Reply With Quote
Old 05-20-2010, 09:02 AM   #18
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
FinanceDude's Avatar
 
Join Date: Aug 2006
Posts: 12,484
I am truly amazed at all the very smart people on here thinking that a single payor system run by the Fed govt will fix everything. Based on personal horror stories of family members suffering under Medicaid and Medicare, let's just say my trust is almost zero that the whole health care reform bill is anything about high quality care being made available to the everyone..........

I agree the system is broke, it was been borke for many years. Did we really think the insurance companies, who know they will be forced to take everyone with no pre-existing conditions, would not jack up rates before the bill takes effect?

There's more furor over halth care insurer's record profits than any record profits that big oil or big pharma or Goldman Sachs hijinks ever created..........that's unbelievable to me.......
__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)


This Thread is USELESS without pics.........:)
FinanceDude is offline   Reply With Quote
Old 05-20-2010, 09:39 AM   #19
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 16,538
Quote:
Originally Posted by FinanceDude View Post
There's more furor over halth care insurer's record profits than any record profits that big oil or big pharma or Goldman Sachs hijinks ever created..........that's unbelievable to me.......
I think the uproar is the same.

But when the "middle men" such as GS and Insurance companies make outsized profits when they don't actually produce anything - that's a bit different than Oil and Pharma which actually do produce a tangible product, not just shuffle money around and take their cut.

Audrey
__________________
Well, I thought I was retired. But it seems that now I'm working as a travel agent instead!
audreyh1 is online now   Reply With Quote
Old 05-20-2010, 10:07 AM   #20
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: May 2005
Posts: 13,294
Quote:
Originally Posted by ziggy29 View Post
I think both government and insurance companies are playing a game of chicken here. I suspect insurance companies will lose, whether they should or not -- because if they respond by pulling out of markets and jacking up premiums 20-30% a year or more as a result of the new law, all they'll do is get people to demand the public option.

Then again, maybe that's what the legislators were hoping would happen...

That is why I think they fought tooth and nail to get the public option in the first go round.... now that we can see what is happening... it will be a lot harder to get it done...
__________________

__________________
Texas Proud is online now   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Safe car part of health plan and/or retirement plan Buckeye Health and Early Retirement 21 07-10-2016 03:58 PM
Do You Need a Better Health Plan ? MasterBlaster Other topics 1 03-16-2010 08:46 PM
High Deductible Health plan Allegany Health and Early Retirement 22 06-12-2008 09:01 AM
How would national health plan affect ER? David1961 Young Dreamers 90 01-10-2008 09:50 PM
Clinton health plan Martha Health and Early Retirement 50 01-08-2008 03:24 PM

 

 
All times are GMT -6. The time now is 11:12 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.