Friday, March 26, 2010

ObamaCares Attack On Medical Insurance!

Over the past several days we have been hearing from the medical insurance industry on the impact of the ObamaCare legislation.. Here are a some of the more damning changes.

The Medical Insurance industry will increase premiums’ by 200% to 300% effective Jan 1, 2011. So much for that promised $2,600/year reduction in rates.

These are the result of coverage for preexisting conditions and other mandated coverage

Expect many companies to stop providing insurance for their employees. Many individuals will also be priced out of the market

Ninety percent of All medical insurance companies will be out business in next 3 to 4 years

They will be operating at a loss by that date.

Insurance companies will be forced into terminating thousands of employees

Before ObamaCare, The insurance companies were, do to state and federal regulations, limited to a 35% overhead. That meant that of every dollar received, 65 cents had to go cover claims. The remaining 35 cents was used to cover corporate expenses, including the 3.5 % profits.

ObamaCare mandates that the split be 82/18. This will require a substantial cut in employees and services.

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Anonymous said...

You mean the cost has gone up!

Boy is that a shocker. When it cost the tyaxpayers $82,000 foer every $8,000 credit for new home buyers and $24,000 for evey "clunker"; I csan imagine what medical care will cost.

JDW said...

Seems like only yesterday that you were warning of a Chavez like takleover; and 'they' said, "It can't happen here!"