Will they balloon their rates out of control?
Will they add huge deductibles?
Will they lower their total payable benefit limits?
How do you think insurance companies will adjust to remain profitable?How will the underwriters adjust their policies to avoid massive losses now that pre-existing conditions must?The insurance companies agreed to stop the pre-existing stuff and the limit caps ONLY if the government made everyone buy a policy. That is why the %26quot;forced%26quot; thing. It's the insurance companies insisting on it. You hit it. They couldn't make enough money to suit themselves otherwise. You see, those who go without insurance policies voluntarily tend to be the healthiest people, the 20s and 30 somethings. So getting more of their money in helps even things out on the losing the caps and pre-existing. See?
There will be at least some control over rates in that the bill says they must spend at least 80% of their income on helping patients. Of course there would be lower rates and a lot more control with a Medicare E.
If the Repubs had pushed with the Dems for a real public option, a Medicare E, AND the conservative Supreme Court had voted NOT to allow corporations to have unlimited spending on political campaign ads, this would not have happened. But since they fought it all the way, and since the Supremes insist on giving corporations more power than humans, big pharma and big insurance OWN our congresscritters. So this was the ONLY chance Obama and the Dems had to get everyone covered and get rid of the pre-existing and the caps.
I hope I did a good job of explaining it.
Now the bill that we got has a lot of great things in it that all of us need and want. We don't need to be scared of losing our homes and savings just because we get cancer any more.
However, it really annoys me to be forced to pay high insurance rates that can continue to skyrocket and to pay for CEOs and stockholder dividends with taxpayer money. Repubs are right about this that just isn't right to force us to support private industry, IMO.
There is a solution where we can %26quot;have our cake and eat it too.%26quot; If we get a Public Option we won't have to pay for those things. Harry Reid has promised that a Public Option bill will be coming up soon. If we want to get out of this corporate welfare we ALL need to be very noisy about wanting the Public Option to our congresscritters -- OFTEN. Starting NOW. Call/write them like every other day and get your friends and neighbors to do the same. If we all make enough noise we could end up with much cheaper rates and much better price controls.
##How will the underwriters adjust their policies to avoid massive losses now that pre-existing conditions must?Up, Up and away
The bill restricts them from applying yearly or lifetime limits that is why there are mandates included.
And once the mandates are ruled unconstitutional, and they will be, prices will sky rocket.How will the underwriters adjust their policies to avoid massive losses now that pre-existing conditions must?How did Lloyds of London adjust their policies to avoid massive losses from drunk sea captains.
They didn't. they just insured everyone and not everyone sunk.
The insurance companies can make up their losses by not paying for multi-zillion dollar demographic consultants and statisticians to find people who will never get sick to insure.How will the underwriters adjust their policies to avoid massive losses now that pre-existing conditions must?I can tell you this - they won't cut exorbitant executive salaries and bonuses. That would take a vi@lent revolution.How will the underwriters adjust their policies to avoid massive losses now that pre-existing conditions must?Rates already balloon out of control. That is one reason for passing this bill.
There are already huge deductibles. That is another reason for passing this bill.
Most don't pay completely for anything anyway. That is why people have to pay deductible and what they don't pay and why people carry extra insurance when they can afford it. That is another reason why they passed this bill.
Insurance companies are among the most profitable and have some of the highest paid execs in the country. Maybe they should adjust their own selves.How will the underwriters adjust their policies to avoid massive losses now that pre-existing conditions must?i agree with Iris fuzzy -- you are wrong here -- there was not much of a choice accept to go with the same thing we had.
this bill can always be ratified with 50 votes and it does not preclude a public option
hopefully it is a stepping stone
but if they do one of the 3 it will be b and c with a slight raise in aHow will the underwriters adjust their policies to avoid massive losses now that pre-existing conditions must?Insurance is a racket at the best of times
Insurance companies often over extend themselves on gambles that no one will claim as was seen in the housing bail out to save the over extended insurance industry from going belly up because the banks were about to make massive claims against their losses
Keep that recent US insurance industry behavior in mind as cheques poured out when charges were warranted but remained unseen and never talked about as even a mere possibility
Are insurance companies poor ? No -- they often gamble well -- but they are still gambling on the odds
Point of access is still pay as you use and according to risk with the good men of the insurance industry giving the gullible US government their word of honor LOL
So then --- what will happen to the dead beats ? Fines ? Have you ever watched our own police hand out a fine to a pan handler and asked who thought this up and was he/she drinking at the time ?
Of course exclusion based on payment is going to occur The people with no health care insurance are not going to suddenly find the money they don't have
End result ?
Status quo
Those who are able to afford will get the best of care those who struggle will continue to and those who can not afford will get what is left over and what is left over is likely going to be the equivilant of a fine for a pan handler who can't pay
What gets me is the American right who think this health care bill will be reformed or changed or repealed with a republican victory --- Yes thats right -- and Obama is going to bring the troops home if he wins you know LOL
But the new found legislation will do some things to alter the current status quo
It will cut all but 4 of the insurance companies out of the market completely It will see a gentlemens agreement among the 4 that divides the people into pieces as a butcher would a cow It will see an end to the illusion of compitition that now exists
Monopoly 4 ways no health insurance for those who can not afford and the long arm of the law looming at all times should they choose to complain
All the propaganda lies they have told about the Cdn system have been enacted by the USHow will the underwriters adjust their policies to avoid massive losses now that pre-existing conditions must?I don't know all the details of the new healthcare changes, but re-insurance may come into play here. Insurance companies routinely insurance themselves against loss to hedge their losses, reduce risks, including changes in law requiring policy changes.
Keep in mind many will be required to pay for insurance they don't use. Once my son dropped a full college load, I was no longer able to carry him on my insurance as a dependant student. His employer payed all healthcare coverage beginning at the 5 year employment mark, so my son opted to go without healthcare insurance until 5 years. He is a young, healthy, adult male...now with free insurance. He would have been required to purchase insurance he would not have used under Obama's new plan. So there is one example of check and balance built into this system.
This plan isn't perfect. It will need tweeking. Some parts may prove disasterous, but something had to be done. We've got men living in my state, Georgia, in rural counties with life expectancies less than men of 3rd world nations. Why? #1 reason is inadequate healthcare due to inaffordability. We've got children eligible for government assistance, that the Georgia state government can't afford to provide the coverage for, denying them benefits. Something had to give. Some step(s) had to be taken to begin the process of change.
http://en.wikipedia.org/wiki/Reinsurance
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