How ObamaCare Works

Posted by CarolSeer2014 10 years, 4 months ago to Economics
4 comments | Share | Best of... | Flag

Nobody knows.

I mentioned to BHO 4 or 5 years ago (before the big "I'll be the last president to introduce universal healthcare" speech in 2010, that healthcare insurance companies subsidize Medicare. Well, either deliberately or just because his mind simply cannot understand the math of it, he said Medicare subsidizes insurance companies. And of course Congress stood up and applauded.
I was that angry--just what is it about spiraling healthcare costs you don't understand?
Healthcare providers (hospitals, doctors, labs)for decades have been contracting with Medicare and Medicaid, to provide healthcare. Government generally was paying about 30-45% of billed costs. Thus providers would have gone broke, had they not raised prices to other private insurance companies and self-pay patients to make up the difference. (Private companies also contract with providers, but at much greater rates.) So over the decades, it became a spiral of costs and payments. Until now we have this monstrous unconstitutional piece of legislations that is breaking the back of the economy.


Add Comment

FORMATTING HELP

All Comments Hide marked as read Mark all as read

  • Posted by tkstone 10 years, 4 months ago
    Our regional hospital is closing several of its small community hospitals including ours. Its 12 community hospitals are averaging a $1,000,000 loss each over the last five years. They are getting out now because they see the coming system as being even worse with everyone being paid at medicare rates. The only thing that kept them afloat the last two years was the grants for going digital with hospital records. We are in trouble.
    Reply | Mark as read | Best of... | Permalink  
  • Comment hidden by post owner or admin, or due to low comment or member score. View Comment
  • Posted by 10 years, 4 months ago
    By the way, for Medicaid, reimbursement by gov't was even lower, close to only 20% of billed costs at times.
    I don't think there is anybody out there that is now capable of following the money---
    Reply | Mark as read | Best of... | Permalink  
  • Comment hidden by post owner or admin, or due to low comment or member score. View Comment
  • Posted by 10 years, 4 months ago
    And then, Gulchers, when I told BO that if this monstrous piece of legislation was ever passed, first the insurance companies would go broke, then the government would go broke. I've since found out that he wants the insurance companies to go broke.
    Reply | Mark as read | Best of... | Permalink  
  • Posted by $ jbrenner 10 years, 4 months ago
    My wife has been a nurse since the mid-80's, and I have never seen her as disgusted about anything as she was with her job before she left this AM. We are calculating just how long we need to work before we can afford to shrug.
    Reply | Mark as read | Best of... | Permalink  

FORMATTING HELP

  • Comment hidden. Undo