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The Cost of Obamacare: Health Insurance Premiums Versus Health Care

The cost of premiums plus out-of-pocket expenses for health care make Obamacare a bad deal.

by
Jean Kaufman

Bio

September 28, 2013 - 12:48 am
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Now that the Obamacare exchanges are set to roll out, the MSM has been featuring a bunch of articles purporting to compare the cost of premiums under the new system to those under the old one, or to those that were originally predicted for Obamacare.
These latest projections tend to take the form of “it’ll all be so much better!” or “it’ll all be so much worse!” or something in between. A good example of the first type of article is this from CBS, a good example of the second is this from Forbes, and a good example of the third is this from the WaPo.
But the truth is that we don’t really know, and probably cannot know at this point (even if reports were unbiased, which they most assuredly are not). One reason is that comparison of averages is practically meaningless because there has been so much variation in previous plans among states, ages, types of coverage, medical condition of the consumer, and types of insurance. In addition, there will be major differences in premiums between those who will now be subsidized under Obamacare and those who will not.
Still another reason for the confusion is that we do not know how many people will opt out and pay the penalty instead of buying coverage, and how this will affect premium prices. All we do know is that it is highly likely to affect them at some point, and if the number is substantial it should drive the cost up — whether through increased premiums or increased taxation or in some other way.
But the biggest confusion of all may be between the price of insurance premiums and the actual health care costs for the buyer. Those who pushed Obamacare had reasons for acting as though health insurance was the same as health care itself, and now they have reason to pretend that health insurance premiums are the same as health care costs. But of course they are not.
People who have been buying insurance on the individual market are probably especially aware of this, but anyone who has had to make decisions about health insurance should be quite familiar with it, too. The premiums are just the start of it. The rest involves the probable out-of-pocket costs which is far more difficult to evaluate. What is the deductible under this plan versus that one? What is the medication coverage like? How many times a year does the person tend to go to the doctor, and what would that person be likely to be paying out-of-pocket for those visits? How much freedom would a patient have to choose a doctor, or how limited would he/she be in doing so? How much control would the plan exercise over when a person would be covered for going to a specialist for a problem?

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Top Rated Comments   
what makes this law bad is everything in it.

But does anyone really want at 2700+ page law, with more than 10,000 pages of regulations that nobody fully understands, run by the IRS with the bias that they have, and with the fact that even if the IRS will tell you what to do, they can and have come after people and found them wrong for following IRS rules/guidelines and information given out.
43 weeks ago
43 weeks ago Link To Comment
What makes ObamaCare bad is not the costs. What makes it bad is raw government force, at the point of a gun, forcing a formerly free citizen to buy a product he or she does not want, under penalty of jail and seizure of assets. Coersion - that is what makes ObamaCare bad.

Of course the rates will be bad. This is incompetent Marxism. Which is always administered at the point of a gun. That is the new American way that bureaucrats now deal with their subjects. Ask the gold mine owner in Alaska or the owner of Lumber Liquidators. And this will be the way the government functionaries deal with us going forward. Thank you John McCain, Mitch McConnell, John Cornyn, Saxby Chambliss, Lamar Alexander, etc. etc. And Rove, Krauthammer, Will, Hume and other low lifes of the media. You cowards not willing to fight for freedom disgust me.

But thank you Ted Cruz, for showing that it is noble to fight for freedom and inspiring other to do so. You spoke the simple but rare truth in DC this week. Real freedom lovers will follow and fight with you.
43 weeks ago
43 weeks ago Link To Comment
And in the face of all of the Presidential lies we turn to farce ...
"Green Eggs and Ham" applied to Obama and his healthcare
With apologies to Dr Seuss ... and the unknown Free Republic blogger who wrote it:

I do not like this Uncle Sam
I do not like his health care scam

I do not like these dirty crooks
or how they lie and cook the books

I do not like when Congress steals
I do not like their secret deals

I do not like this spending spree
I'm smart ... I know that nothing's free

I do not like his smug replies
When we complain about his lies

I do not like this kind of hope
I do not like it nope, nope, nope ..
-------------------------------------
43 weeks ago
43 weeks ago Link To Comment
All Comments   (26)
All Comments   (26)
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43 weeks ago
43 weeks ago Link To Comment
"Obama said he would fundamentally transform America. The time draws near to teach this usurper and charlatan the lesson our forefathers taught King George III. We will not be ruled by arrogance and edict. " LTC Allen West
43 weeks ago
43 weeks ago Link To Comment
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43 weeks ago
43 weeks ago Link To Comment
Frankly, I don't know why we are even having a discussion about the AHCA. What's not to hate about this turd sandwich itself and the way in which it was forced down our throats? One monumental lie after another:

"If you like your plan you can keep your plan." - LIE
"Your premiums will go down." - LIE
"The individual mandate is not a tax." - LIE
"The AHCA will not cover abortions." - LIE
"Congress will have the same plan." - LIE
"There will be no 'death panels'." - LIE
"Everyone will participate." - LIE
"The bill will EXCLUDE illegal aliens." - LIE
"Health care will not be rationed." - LIE

The Devil is in the detail, and we are ALL about to enter HELL.
43 weeks ago
43 weeks ago Link To Comment
The problem is that he won a second term, most Americans are ok with it.
Non market solutions are doomed because of the knowledge problem, but there is a great deal of ruin in a health care system.
This is no longer a great country, so get used to living in a somewhat crappy place or leave. Freedom is diminishing. Too many want to be pets, not citizens, with a governing class only to happy to be pet owners.
43 weeks ago
43 weeks ago Link To Comment
This is not Marxism. This is not socialism.

This is corporatism. People are being forced at gunpoint (maybe not literally, but certainly the government will fine you and if you don't pay a fine, put you in jail) to buy a product.
43 weeks ago
43 weeks ago Link To Comment
I mean, it's a terrible idea, and a disaster. But you can't blame it on socialism. They want something like in Canada or the UK.

This was originally the idea put forth by Republicans. First back in the Clinton era, as an alternative to Hilarycare, then implemented by Romney in Mass as Romneycare.

Obamacare just takes it national.
43 weeks ago
43 weeks ago Link To Comment
Where does the "non rate payer tax/penalty go? Insurance/slush fund? General Government slush fund? Where? Must I read 2700 pages of rules before I learn that simple fact?
43 weeks ago
43 weeks ago Link To Comment
The high deductible makes Obamacare a COMPLETE FARCE.

Half the reason for it was to eliminate those first-visit payments for the regular folk. The existing high-deductible HSA plans ARE OUTLAWED by Obamacare.

Especially for the young and healthy, how many are going to incur $5,000 worth of expenses per year? So they are paying several hundred per month (assuming they have any income at all) - FOR NOTHING.

Total debacle, and the MSM cannot find a clue with a stethescope and a PET scan.
43 weeks ago
43 weeks ago Link To Comment
Yet another clueless PJMedia article. As a conservative, I can't decide whether the PJ philosophical stance is deliberate or just unexamined. In this case, the issue with Obamacare is NOT about economics, it is about tyranny.

The left is one-by-one closing each door of what we used to think of as our freedoms. This is a process, but the genius of the left is to make right liberals and other useful idiots (such as PJMedia) think it is just a series of isolated incidents. It should go without saying that the media is their willing agent in selling this propaganda, and keeping the masses from becoming aware or excited that anything is amiss.

Given the ratchet effect and the acceleration of what is now an exponential process, within 15 years time there will be no freedoms left, only the compulsory acts the left requires to keep the masses in conformance. In other words, you dear reader don't have much time remaining to wake up and fight back. You must understand, the left is either at your feet or at your throat. They interpret any attempt to be reasonable or fair as weakness they can exploit, and they will never feel any necessity to reciprocate. There can be no moderation, no reasonableness, no quarter given or taken in this existential war. If you believe otherwise, you are a fool, and you will end up with their boot stamped on your face - forever.
43 weeks ago
43 weeks ago Link To Comment
If Obamacare gets funded, it will be another year before the "reality" kicks in for people. When the Obots have to decided between paying for their cell phone bill or paying their Obamacare premium, I think the cell phone bill wins. Either that, or the credit card gets maxed out. But rest assured, Bush will be blamed for family credit card debt skyrocketing.
43 weeks ago
43 weeks ago Link To Comment
Many will head for O phones, paid for by the taxpayer and minutes, also paid by the taxpayer. This means you n me, the people who pay fed. income tax. We also have the great privilege of paying, state, city, county and sales tax. Some of us luck out having no state tax, but not many. It won't be long before 30% or less are paying for the whole country. Meanwhile, congress and all gov. officials and workers get waivers. Hello!! Greece.
43 weeks ago
43 weeks ago Link To Comment
what makes this law bad is everything in it.

But does anyone really want at 2700+ page law, with more than 10,000 pages of regulations that nobody fully understands, run by the IRS with the bias that they have, and with the fact that even if the IRS will tell you what to do, they can and have come after people and found them wrong for following IRS rules/guidelines and information given out.
43 weeks ago
43 weeks ago Link To Comment
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