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Author: Subject: Obama says health insurance costs will go down 3000%
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eek.gif Post 405914 posted on 18-3-2010 at 14:09 Reply With Quote
Obama says health insurance costs will go down 3000%



This week, Obama said that if his health care bill is passed, insurance premiums for health insurance purchased by employers for their workers would go down three thousand per cent. (3000%)shocked_yellow

If premiums went down 100%, the health insurance would be free.

If they go down 3000%, the insurance companies must pay you 29 times as much as they formerly charged.shocked_yellowshocked_yellow

Obama must think his listeners are incredibly stupid, that they would hear such things and believe them.

But, he seems to be right. The crowd cheered!lips_sealed
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[*] Post 405920 posted on 18-3-2010 at 14:41 Reply With Quote


surely some mistake?

The full transcript of the speech talks about 14-20% savings for people who buy their insurance on the open market. It is just company provided cover that the 3000% referred to - his speech writer should be shot.

T
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[*] Post 405928 posted on 18-3-2010 at 16:16 Reply With Quote


Quote:
Originally posted by Theravad
surely some mistake?

The full transcript of the speech talks about 14-20% savings for people who buy their insurance on the open market. It is just company provided cover that the 3000% referred to - his speech writer should be shot.

T
The cost of health insurance to workers and individuals will actually increase if the Democrat legislation passes. The legislation calls for increased government regulation and involvement in four years, so the insurance companies have a great incentive to raise their rates before the government becomes even more involved than they are now. Another problem--since the legislation will require insurance companies to pay for treatment for pre-existing conditions, there is a great incentive for people to hold on to their money until after they are sick. Then, when they need hospital care and operations, they can start buying insurance, and the insurance companies cannot deny them. Insurance premiums would have to rise dramatically to cover all these treatments and operations.

A recent poll found that about half of all medical doctors are considering leaving their medical practices if this legislation goes into effect. The present government-controlled US medical programs of Medicare and Medicaid don't have anything in them to bring costs down. They bring down the price to government by lowering what the government will pay for medical procedures. As a result, many doctors cannot afford to take more than a few of these patients, because they need patients for whom they won't be paid less than true cost. (Otherwise, they can't pay for the receptionist, the rent, the utilities, the billing service, the nurses etc.) If the government sets the rates that every insurance company will pay for medical procedure, and the rates don't increase when costs go up, then the doctor will lose money on all those patients.

A better idea would be to actually decrease the cost of health care by lawsuit reform that would bring down the cost of malpractice insurance and eliminate medically unnecessary tests (done for defensive medicine), and to allow people to buy health insurance across state lines (greater competition drives down cost).
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