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Thursday, January 19, 2017

Fake News manufactured by government

The Congressional Budget Office is a Fake News press realease: "How Repealing Portions of the Affordable Care Act Would Affect Health Insurance Coverage and Premiums."

The congressional bureaucracy screamed 18 million will lose coverage, even though the number of people enrolled in Obamacare is 6.4 million.

The number of people who will lose their medical insurance when President Trump signs the repeal of Obamacare is zero.

Let me repeat: Zero.

Nothing prevents companies from continuing to offer coverage, nor does anything for insurance companies to dump customers.

Whether employers and insurers do is a matter of guesswork.

But I suspect that companies will wait to see what the Republican replacement is before making any drastic moves. Companies have a few months before they have to make decisions regarding 2018 policies.

As for subsidized policies, they continue through this year regardless of what is done.

Nevertheless, the congressional bureaucracy created Fake News that the Fake News Media instantly repeated:
The number of people who are uninsured would increase by 18 million in the first new plan year following enactment of the bill. Later, after the elimination of the ACA’s expansion of Medicaid eligibility and of subsidies for insurance purchased through the ACA marketplaces, that number would increase to 27 million, and then to 32 million in 2026.
Premiums in the nongroup market (for individual policies purchased through the marketplaces or directly from insurers) would increase by 20 percent to 25 percent—relative to projections under current law—in the first new plan year following enactment. The increase would reach about 50 percent in the year following the elimination of the Medicaid expansion and the marketplace subsidies, and premiums would about double by 2026.
That is balderdash.

The 18 million number is triple the number of people enrolled in Obamacare.

From CNN:
Nearly 6.4 million Americans have selected Obamacare policies through the federal exchange for coverage starting Jan. 1, federal officials announced Wednesday. That's 400,000 more than had selected policies a year ago.
Going back to what we had in 2009 would result in a net loss of coverage for 11.6 million people?

That makes no sense. None at all.

You see, most of the gains in people getting insurance came from people who were already eligible for Medicaid but had not signed up.

They were already covered, just not enrolled.

If they went to the hospital, hospital administrators would make damned sure they signed up so that the hospital could receive its check.

Expanded Medicare enrollments are a different animal. I suspect states and the $3.2 trillion medical industry will lobby to continue the federal subsidies.

As for premiums rising "by 20 percent to 25 percent" they already are. Again, from the same CNN story:
Even before the election, there were concerns that customers would be deterred by price hikes -- the average premium for the benchmark silver plan soared 22% for 2017 -- and the fact that some insurers pulled out of the exchanges.
So people already were losing their coverage and premiums already were spiking at a rate of doubling every three or four years.

Premiums going up another 20 percent to 25 percent?

They rose at half that rate before Obamacare.

Just remember, this is the same CBO that said Obamacare would bend the curve of price increases.

No one with any common sense believed that increasing demand by making insurance mandatory would reduce prices.

No one with any common sense trusts the CBO now.

Which is why the Fake News media fell for it again.

When someone in government lies like this, fire them.

@@@

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8 comments:

  1. In Today's completely unrelated news;
    Gov. Jerry Brown's administration miscalculated costs for the state Medi-Cal program by $1.9 billion last year, an oversight that contributed to Brown's projection of a deficit in the upcoming budget, officials acknowledged this week.

    ReplyDelete
  2. This is another joke and ripoff of a government agency. How about the similarly reliable Bureau of Labor Statistics? You know, the ones who tell us there is no inflation. All of these need a thorough downsizing, scrubbing, and disinfection.

    ReplyDelete
    Replies
    1. This is a great article about inflation and other things:

      --As explained in the Fuzzy Numbers chapter of The Crash Course, even though healthcare spending is nearly 18% of GDP, for some reason healthcare comprises only 5.85% of the CPI basket:

      Currently CPI-MED accounts for 5.825% of the overall CPI. Increases in the share of medical expense paid by individuals (as opposed to their insurers), will not affect CPI levels.

      And:

      U.S. health care spending grew 5.8 percent in 2015, reaching $3.2 trillion or $9,990 per person. As a share of the nation's Gross Domestic Product, health spending accounted for 17.8 percent.
      (Source)
      Does it make any sense to record something that's nearly 18% of GDP as only 5.8% of your inflationary experience? Nope, it sure doesn’t. Unless your desire is to mask the actual rate of inflation.--

      http://www.zerohedge.com/news/2017-01-14/mad-hell

      Delete
  3. Medicaid expansion is a ticking time bomb. When Fed money (your taxes) goes away the states are suppose to pick up the entire tam and they can't without either cutting services elsewhere, raising taxes or going broke. The other ticking time bomb is the "subsidies" or tax credits. This reduces the money the Feds have to spend on real things so the deficits go up, we borrow more and the US goes deeper into debt (Sixteen Tons). The subsidies are suppose to go away but we all know a Dem admin (Hillary and Dem congress) would not allow that.

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    Replies
    1. That #9 coal is way down deep, as is the manure spread by government agencies.

      For those now knowing: https://www.youtube.com/watch?v=jIfu2A0ezq0

      Delete
  4. Another example of the "Deep State" at work to undermine the incoming administration and protect their phoney baloney jobs. Harumph! - Elric

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  5. The same shill operation and disinformation agency that operated under a continuing resolution without budget for 8 years.

    So, OMB has not had a B for 8 years.

    Talk to the hand.

    Thank god for the U.S. CoC and their lobby for that concept called profit.

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  6. Take a typical hospital bill and put it in front of any government expert on health care. Ask him to give a point by point explanation of it. If any of them can do it, leave them in their jobs. If they can't, set them out on the curb.

    ReplyDelete