Learning more about health insurance going forward

The GoP introduced the Affordable Health Care Act. It's only 200 pages. Makes insurance companies compete by opening up policies across state lines.

http://www.gop.gov/indepth/pledge/healthcare

And today the House voted to defund obamacrap act and passed a CR to fund the govt till December.

 

One thing I have noticed in the past few months as state exchanges start publishing rates thru individual providers is that there seems to be no consistency across state lines as it applies to rate hikes or drops. I originally thought this was due to some states not providing the new exchanges but I've since seen otherwise. I'm interested to know this if anyone has further information on it.

 

Actually that type of deal has been in effect forever, it is called the "permissable ratio" and is a number that has been filed with state insurance commissioners forever. Actually it deals with the difference between the number you quoted, amount paid for claims, and the total premium. It is a means to reduce or at least limit administrative expenses to 15% or so of premium. Generally, if the permissable is exceeded, rates are reduced, it not, rates are increased.

Insurance companies are in the business of making money be taking risks. If they pay too much, they get it back next cycle, if they "win" and keep more than they anticipated, they find ways to hang on to as much as they can, but otherwise can keep no more than the permissable ratio allows.

This is what people do not understand. With a pre-existing condition, the risks of a financial payment are 100%. Insurance is not designed for that, since the "risk" is a certainty. Trying insuring a house on the lava flow side of an active volcano. It ain't gonna happen, since the risk is 100%, but...people want insurance to pay for ongoing treatment for a pre-existing condition. it is the exact same thing, except the former is property insurance, the second health insurance.

Just remember that 1/2 the people have less than average intelligence, and a pretty good number at the 50% level and above are not real smart either.

 

didn't know that, thanks for the info. have they always offered rebates?

 

I'm worried cause I'm not sure exactly what it will mean for us yet.

 

there seems like there is a lot of inconsistency from state to state in the rates that are being published. Interested to see if that levels out some after the first of the year or if it persists. all in all just interested to see how it goes, what works, what doesn't work, what needs to be kept and what needs to be fixed or booted altogether.

 

Aren't you old? If so, you should be fine. Young healthy males making over 400% of the poverty line are the hardest hit. Especially if they prefer hdhp.

But it will be interesting to see how this all shakes out

 

Hey phucker. Not sure what you call old. I bet I can outfish and outhunt you.

I have it through my employer.