Reform Won't Change Insurers' Profits Much

[BFT3K]

The insurance industry that was demonized in the health care debate faces a flood of new customers and tight new regulations, but when it comes to their bottom lines, it appears little will change, reports CBS News Chief Investigative Correspondent Armen Keteyian.

Under the new bill, the health insurance industry stands to gain up to 20 million new customers but will be required to:

? spend at least 80 to 85 cents of every dollar it takes in on health care.
? eliminate lifetime limits on coverage and restrict annual limits.
? pay at least $70 billion in new taxes beginning in 2014.
? sell insurance through state-run exchanges, making purchasing more affordable for individuals.

In addition, insurers will be prohibited from:

? charging older Americans more than three times what they charge the young.
? canceling policies when people get sick.
? perhaps most importantly, beginning in 2014, insurers will no longer be allowed to exclude the 12.6 million adults with pre-existing conditions.

Full story here...

http://www.cbsnews.com/stories/2010/...html?tag=stack

[BFT3K]

[Joshua G]

the only thing that will change is the working poor will pay penalties they didn't have to pay before, & the debt will explode faster as the baby boom crashes the system. With a huge majority in congress, a gift to the insurers was the only thing democrats could accomplish.

Im still perplexed what the republicans were opposing. it seems more like a republican bill every day details leak out. Kill the poor & shovel more taxpayer money to the rich.

[GatorB]

the only thing that will change is the working poor will pay penalties they didn't have to pay before,

wrong.

At any rate if someone doesn't have insurance they typically don't go to the doctor then when they do get medical help it's usually the ER which is required to help you. These people typically don't pay their bill either. Who do you think ends up paying for that bill? YOU, ME and everyone else. I see nothing wrong in people helping pay for their own medical bills.

the debt will explode faster as the baby boom crashes the system.

Wrong this bill reduces the deficit by $1.3 TRILLION.

Im still perplexed what the republicans were opposing. it seems more like a republican bill every day details leak out.

Yep. Actually the mandatory insurance requirement was first a REPUBLICAN idea that John McCain supported when he campaigned for President. Now all the repubs are against it. Funny how that works

[Joshua G]

wrong.

At any rate if someone doesn't have insurance they typically don't go to the doctor then when they do get medical help it's usually the ER which is required to help you. These people typically don't pay their bill either. Who do you think ends up paying for that bill? YOU, ME and everyone else. I see nothing wrong in people helping pay for their own medical bills.

im assuming the working poor will choose the lesser cost of insurance or the tax penalty. no clue why anyone thinks the insurance rates will be less then the tax penalty. when that happens, the working poor will still be without insurance, will still pass the cost of ER visits to you & I, & everything will stay the same except the poor pay penalties they didnt have to before.

Wrong this bill reduces the deficit by $1.3 TRILLION.

you know better. CBO numbers are a sham based on wildly unpredictable events 10 years out. & congress will revoke the 400 billion cuts in medicare when the bill comes due. They are trying to do it right now.

Yep. Actually the mandatory insurance requirement was first a REPUBLICAN idea that John McCain supported when he campaigned for President. Now all the repubs are against it. Funny how that works

at least we agree on something.

[The Demon]

wrong.

At any rate if someone doesn't have insurance they typically don't go to the doctor then when they do get medical help it's usually the ER which is required to help you. These people typically don't pay their bill either. Who do you think ends up paying for that bill? YOU, ME and everyone else. I see nothing wrong in people helping pay for their own medical bills.



Wrong this bill reduces the deficit by $1.3 TRILLION.



Yep. Actually the mandatory insurance requirement was first a REPUBLICAN idea that John McCain supported when he campaigned for President. Now all the repubs are against it. Funny how that works

Actually, it doesn't reduce the deficit but way to look at one side of the puzzle Gator

[$5 submissions]

The pre-existing condition provision in the new law is the most important part... in my opinion. It effectively switches the US health insurance industry to an assigned risk arrangement. Hard business model to swallow for some. There might be some blowback re cost projections...