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Stunning new report undermines central GOP Obamacare claim
Stunning new report undermines central GOP Obamacare claim
A crucial GOP line of attack against the Affordable Care Act (ACA) is that millions of people will supposedly lose coverage thanks to shifting requirements on the health insurance exchanges — a flagrant violation of President Obama’s infamous “if you like your plan, you can keep it” proclamation. The truth has always been more complicated, of course. Republicans are constantly blurring the line between people who lose a plan and people who lose coverage. That is, many people might lose a particular insurance plan but immediately be presented with other options.
Now, a new report from the minority staff of the House Committee on Energy and Commerce has destroyed the foundation of that particular GOP claim. It projects that only 10,000 people will lose coverage because of the ACA and be unable to regain it — or in other words, 0.2 percent of the oft-cited 5 million cancellations statistic.
The report starts with an assumption that 4.7 million will receive cancellation notices about their 2013 plan. (Notably it doesn’t endorse that figure, just takes it on for the sake of argument.) But of those, who will get a new plan?
The report is somewhat speculative, of course, since there is no central repository of data on the individual health insurance market. But the methods are clear, and the onus is now on Republicans to explain why it isn’t true.
As we’ve noted, Republicans have had an awful hard time finding people who completely lost coverage because of the ACA. (Think of the man who starred in Americans for Prosperity ads last week and whose story still hasn’t been fully explained.) Perhaps it’s because there just aren’t that many of them.
Of course, there’s no doubt that for those 10,000 people, the health-care law left them worse off than before. And by no means is the rocky political ride over for Democrats — back-end problems still present a serious threat to implementation. But as is sadly too often the case, the arguments made by Republicans simply lack a firm factual basis — and deserve much more scrutiny that they’ve received in many sectors of the mainstream press.
Contrary to the delusionalism of the far right on this forum, more people than ever are now covered by health care at lower cost thanks to ACA.
Weep it and weep crybabies!
Stunning new report undermines central GOP Obamacare claim
- By George Zornick
- December 31, 2013 at 12:39 pm
A crucial GOP line of attack against the Affordable Care Act (ACA) is that millions of people will supposedly lose coverage thanks to shifting requirements on the health insurance exchanges — a flagrant violation of President Obama’s infamous “if you like your plan, you can keep it” proclamation. The truth has always been more complicated, of course. Republicans are constantly blurring the line between people who lose a plan and people who lose coverage. That is, many people might lose a particular insurance plan but immediately be presented with other options.
Now, a new report from the minority staff of the House Committee on Energy and Commerce has destroyed the foundation of that particular GOP claim. It projects that only 10,000 people will lose coverage because of the ACA and be unable to regain it — or in other words, 0.2 percent of the oft-cited 5 million cancellations statistic.
The report starts with an assumption that 4.7 million will receive cancellation notices about their 2013 plan. (Notably it doesn’t endorse that figure, just takes it on for the sake of argument.) But of those, who will get a new plan?
- According to the report, half of the 4.7 million will have the option to renew their 2013 plans, thanks to an administrative fix this year.
- Of the remaining 2.35 million individuals, 1.4 million should be eligible for tax credits through the marketplaces or Medicaid, according to the report.
- Of the remaining 950,000 individuals, fewer than 10,000 people in 18 counties will lack access to an affordable catastrophic plan.
The report is somewhat speculative, of course, since there is no central repository of data on the individual health insurance market. But the methods are clear, and the onus is now on Republicans to explain why it isn’t true.
As we’ve noted, Republicans have had an awful hard time finding people who completely lost coverage because of the ACA. (Think of the man who starred in Americans for Prosperity ads last week and whose story still hasn’t been fully explained.) Perhaps it’s because there just aren’t that many of them.
Of course, there’s no doubt that for those 10,000 people, the health-care law left them worse off than before. And by no means is the rocky political ride over for Democrats — back-end problems still present a serious threat to implementation. But as is sadly too often the case, the arguments made by Republicans simply lack a firm factual basis — and deserve much more scrutiny that they’ve received in many sectors of the mainstream press.
Contrary to the delusionalism of the far right on this forum, more people than ever are now covered by health care at lower cost thanks to ACA.
Weep it and weep crybabies!
Are you Bagdad Bob or Hanoi Jane ?Stunning new report undermines central GOP Obamacare claim
Stunning new report undermines central GOP Obamacare claim
- By George Zornick
- December 31, 2013 at 12:39 pm
A crucial GOP line of attack against the Affordable Care Act (ACA) is that millions of people will supposedly lose coverage thanks to shifting requirements on the health insurance exchanges — a flagrant violation of President Obama’s infamous “if you like your plan, you can keep it” proclamation. The truth has always been more complicated, of course. Republicans are constantly blurring the line between people who lose a plan and people who lose coverage. That is, many people might lose a particular insurance plan but immediately be presented with other options.
Now, a new report from the minority staff of the House Committee on Energy and Commerce has destroyed the foundation of that particular GOP claim. It projects that only 10,000 people will lose coverage because of the ACA and be unable to regain it — or in other words, 0.2 percent of the oft-cited 5 million cancellations statistic.
The report starts with an assumption that 4.7 million will receive cancellation notices about their 2013 plan. (Notably it doesn’t endorse that figure, just takes it on for the sake of argument.) But of those, who will get a new plan?
“This new report shows that people will get the health insurance coverage they need, contrary to the dire predictions of Republicans,” said Rep. Henry Waxman (D-Calif.), the ranking committee member. “Millions of American families are already benefiting from the law.”
- According to the report, half of the 4.7 million will have the option to renew their 2013 plans, thanks to an administrative fix this year.
- Of the remaining 2.35 million individuals, 1.4 million should be eligible for tax credits through the marketplaces or Medicaid, according to the report.
- Of the remaining 950,000 individuals, fewer than 10,000 people in 18 counties will lack access to an affordable catastrophic plan.
The report is somewhat speculative, of course, since there is no central repository of data on the individual health insurance market. But the methods are clear, and the onus is now on Republicans to explain why it isn’t true.
As we’ve noted, Republicans have had an awful hard time finding people who completely lost coverage because of the ACA. (Think of the man who starred in Americans for Prosperity ads last week and whose story still hasn’t been fully explained.) Perhaps it’s because there just aren’t that many of them.
Of course, there’s no doubt that for those 10,000 people, the health-care law left them worse off than before. And by no means is the rocky political ride over for Democrats — back-end problems still present a serious threat to implementation. But as is sadly too often the case, the arguments made by Republicans simply lack a firm factual basis — and deserve much more scrutiny that they’ve received in many sectors of the mainstream press.
Contrary to the delusionalism of the far right on this forum, more people than ever are now covered by health care at lower cost thanks to ACA.
Weep it and weep crybabies!
Surprise! Walmart health plan is cheaper, offers more coverage than Obamacare
Surprise! Walmart health plan is cheaper, offers more coverage than Obamacare | WashingtonExaminer.com
Millions of People Have Health Insurance Thanks to Obamacare
At least 9 million people are getting coverage under the health care law
Millions of People Have Health Insurance Because of Obamacare - US News and World Report
Millions of People Have Health Insurance Thanks to Obamacare At least 9 million people are getting coverage under the health care law
By Robert Schlesinger
January 3, 2014
The big number in the news this week was 1.1 million – the number of people who signed up for health insurance through Obamacare's federal insurance marketplace this year. This is an important figure, especially given the fact that it stood at little more than 100,000 at the end of November.
Nevertheless, that 1.1 million figure dramatically understates what the Affordable Care Act has already accomplished. The number we should be talking about is at least 9 million and could be 14 million people who are currently getting coverage under the law.
How many people are currently covered through the law? Start with the 1.1 million who have gotten care through the federal website. If you layer on the number of enrollees who have gotten coverage through state-run exchanges that number tops 2.1 million, Secretary of Health and Human Services Kathleen Sebelius announced Tuesday. Then throw in the 3.9 million people who have gotten health coverage under Obamacare's Medicaid expansion. Oh and don't forget about the young adults under 26 who are still covered by their parents' health insurance plans thanks to the Affordable Care Act. A year-and-a-half ago, the Department of Health and Human Services put the number at 3.1 million but an August study by the Commonwealth Fund, a private foundation that focuses on health policy research, estimated that the figure had reached 7.8 million. Total those numbers and you get a minimum of 9 million Americans covered through Obamacare and a maximum of nearly 14 million.
[See a collection of political cartoons on Obamacare.]
To borrow Everett Dirksen's old adage: A million here, a million there, and pretty soon you're talking about real coverage. This is why Wisconsin Sen. Ron Johnson told the New York Times last week that the Affordable Care Act is "no longer just a piece of paper that you can repeal and it goes away. ... We have to deal with the people that are currently covered under Obamacare."
To be sure there are provisos and qualifications. Obamacare critics will point out that some number of those insured are only replacing coverage they lost thanks to the law disqualifying their plans (of course that will require those same critics to acknowledge that very few of the people losing their health coverage are now bereft); and in the context of 50 million uninsured it's only a start – but it is a start. And while I'm writing this in the waning hours of 2013, it doesn't take a great feat of prognostication to know that the first days of 2014 may well bring another round of Obamacare horror stories as people find out that they don't have coverage they thought they signed up for. The October website disaster's effects are still being felt – the administration had been aiming for 3.3 million signups by now, for example, so the 2 million figure is well short.
The law's well-publicized stumbles have certainly taken their toll in polls. Finally clear of its shutdown self-immolation, the GOP seems to be building its 2014 strategy around Obamacare's flaws. "Ideally, we'd freeze things the way they are in amber until November," a senior House Republican aide told Time's Jay Newton-Small last month.
[See a collection of political cartoons on the Republican Party.]
But putting aside for a moment the fact that 11 months is an age and a day in politics, there's a fundamental flaw in this GOP calculus: Obamacare's not the cutting issue they seem to think it is. Democratic pollsters Stan Greenberg, James Carville and Erica Seifert surveyed the 86 most competitive House districts and found that the country remains deeply divided on the Affordable Care Act. "Health care is not a wedge issue," they concluded.
The right's problem is that it fixates on approval-disapproval numbers without digging into them. So while a CNN/ORC poll conducted in mid-December found that 35 percent favor the law and 62 percent oppose it, only 43 percent oppose the law because it's too liberal; if you add the 35 percent who favor the law to the 15 percent who dislike it because they wish it did more, the GOP 2014 game plan becomes more puzzling. An early December New York Times/CBS News poll tells the same story: 50 percent oppose the law while only 39 percent approve. But only 42 percent think the law goes too far while a total of 50 percent think it either doesn't go far enough or is just right.
... more ...
Millions more saved thanks to Obamacare.
God bless America for making us more "socialized" like Canada!
At least 9 million people are getting coverage under the health care law
Millions of People Have Health Insurance Because of Obamacare - US News and World Report
Millions of People Have Health Insurance Thanks to Obamacare At least 9 million people are getting coverage under the health care law
By Robert Schlesinger
January 3, 2014
The big number in the news this week was 1.1 million – the number of people who signed up for health insurance through Obamacare's federal insurance marketplace this year. This is an important figure, especially given the fact that it stood at little more than 100,000 at the end of November.
Nevertheless, that 1.1 million figure dramatically understates what the Affordable Care Act has already accomplished. The number we should be talking about is at least 9 million and could be 14 million people who are currently getting coverage under the law.
How many people are currently covered through the law? Start with the 1.1 million who have gotten care through the federal website. If you layer on the number of enrollees who have gotten coverage through state-run exchanges that number tops 2.1 million, Secretary of Health and Human Services Kathleen Sebelius announced Tuesday. Then throw in the 3.9 million people who have gotten health coverage under Obamacare's Medicaid expansion. Oh and don't forget about the young adults under 26 who are still covered by their parents' health insurance plans thanks to the Affordable Care Act. A year-and-a-half ago, the Department of Health and Human Services put the number at 3.1 million but an August study by the Commonwealth Fund, a private foundation that focuses on health policy research, estimated that the figure had reached 7.8 million. Total those numbers and you get a minimum of 9 million Americans covered through Obamacare and a maximum of nearly 14 million.
[See a collection of political cartoons on Obamacare.]
To borrow Everett Dirksen's old adage: A million here, a million there, and pretty soon you're talking about real coverage. This is why Wisconsin Sen. Ron Johnson told the New York Times last week that the Affordable Care Act is "no longer just a piece of paper that you can repeal and it goes away. ... We have to deal with the people that are currently covered under Obamacare."
To be sure there are provisos and qualifications. Obamacare critics will point out that some number of those insured are only replacing coverage they lost thanks to the law disqualifying their plans (of course that will require those same critics to acknowledge that very few of the people losing their health coverage are now bereft); and in the context of 50 million uninsured it's only a start – but it is a start. And while I'm writing this in the waning hours of 2013, it doesn't take a great feat of prognostication to know that the first days of 2014 may well bring another round of Obamacare horror stories as people find out that they don't have coverage they thought they signed up for. The October website disaster's effects are still being felt – the administration had been aiming for 3.3 million signups by now, for example, so the 2 million figure is well short.
The law's well-publicized stumbles have certainly taken their toll in polls. Finally clear of its shutdown self-immolation, the GOP seems to be building its 2014 strategy around Obamacare's flaws. "Ideally, we'd freeze things the way they are in amber until November," a senior House Republican aide told Time's Jay Newton-Small last month.
[See a collection of political cartoons on the Republican Party.]
But putting aside for a moment the fact that 11 months is an age and a day in politics, there's a fundamental flaw in this GOP calculus: Obamacare's not the cutting issue they seem to think it is. Democratic pollsters Stan Greenberg, James Carville and Erica Seifert surveyed the 86 most competitive House districts and found that the country remains deeply divided on the Affordable Care Act. "Health care is not a wedge issue," they concluded.
The right's problem is that it fixates on approval-disapproval numbers without digging into them. So while a CNN/ORC poll conducted in mid-December found that 35 percent favor the law and 62 percent oppose it, only 43 percent oppose the law because it's too liberal; if you add the 35 percent who favor the law to the 15 percent who dislike it because they wish it did more, the GOP 2014 game plan becomes more puzzling. An early December New York Times/CBS News poll tells the same story: 50 percent oppose the law while only 39 percent approve. But only 42 percent think the law goes too far while a total of 50 percent think it either doesn't go far enough or is just right.
... more ...
Millions more saved thanks to Obamacare.
God bless America for making us more "socialized" like Canada!
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Something tells me they are still counted as having health care...
13,000 Obamacare Applicants Have No Records with Health Insurers
13,000 Obamacare Applicants Have No Records with Health Insurers
Breitbart - it figures.
By contrast you get the real story here: https://www.facebook.com/acasuccessstories
By contrast you get the real story here: https://www.facebook.com/acasuccessstories
Yet another real story of this disaster
Obamacare kills disabled family's health coverage | The Daily Caller
Obamacare kills disabled family's health coverage | The Daily Caller
EagleSmack; said:
This is likely to be yet another fabricated story as Michigan has one of the most socialized programs in the USA:
MDCH - Help Finding Health Care
Health insurance enrollment takes off in Michigan, nation for coverage under ACA | Detroit Free Press | freep.com
Because, by God, there won't be free market competition for Nevada health insurance companies on her watch!
You can't keep a good wingnut down! Sharrrron Angle, perhaps thinking of raising her profile once again for another run for office in Nevada, is dusting herself off from her 2010 shellacking by Harry Reid, and is back out on the campaign trail.
Angle is angry that her state set up its own health insurance exchange. If her initiative ended up somehow passing, it would just mean that the state would be brought into the federal exchange. It would could also mean that Nevadans might pay a little bit more, Nevada officials say, because the fees attached to policies on the exchange imposed by the federal government are higher than Nevada's.
But hey, that's a small price to pay for freedom from the free health insurance market.
Sharron Angle files initiative to outlaw health exchanges in Nevada - Las Vegas Sun News
You can't keep a good wingnut down! Sharrrron Angle, perhaps thinking of raising her profile once again for another run for office in Nevada, is dusting herself off from her 2010 shellacking by Harry Reid, and is back out on the campaign trail.
Angle is angry that her state set up its own health insurance exchange. If her initiative ended up somehow passing, it would just mean that the state would be brought into the federal exchange. It would could also mean that Nevadans might pay a little bit more, Nevada officials say, because the fees attached to policies on the exchange imposed by the federal government are higher than Nevada's.
But hey, that's a small price to pay for freedom from the free health insurance market.
Sharron Angle files initiative to outlaw health exchanges in Nevada - Las Vegas Sun News
Another Red state endorses "socialist" Obamacare expansion:
Utah Will Expand Medicaid Under Obamacare
Utah Will Expand Medicaid Under Obamacare
Utah will expand Medicaid under Obamacare, its Republican governor said Thursday.
"Doing nothing ... I’ve taken off the table. Doing nothing is not an option," Gov. Gary Herbert said at his monthly news conference, according to the Salt Lake Tribune.
The state legislature has endorsed two plans for expanding Medicaid through private coverage, as Arkansas has already done. Under one plan, Medicaid dollars would pay for people up to 133 percent of the federal poverty level to purchase private insurance on HealthCare.gov. The alternative plan would use Medicaid dollars for people up to the poverty level to buy private coverage on HealthCare.gov; those above the poverty level would receive federal tax subsidies to help purchase insurance through the federal website.
It's not clear which strategy the state will adopt, and Herbert didn't express a preference. Medicaid expansion would cover 60,000 Utahans, according to the Tribune. Utah would be the 26th state, along with Washington, D.C., to accept expansion.
A privatized Medicaid expansion plan would require approval from the Obama administration, but federal officials have already signed off on a similar plan in Arkansas.
Utah Will Expand Medicaid Under Obamacare
Utah Will Expand Medicaid Under Obamacare
Utah will expand Medicaid under Obamacare, its Republican governor said Thursday.
"Doing nothing ... I’ve taken off the table. Doing nothing is not an option," Gov. Gary Herbert said at his monthly news conference, according to the Salt Lake Tribune.
The state legislature has endorsed two plans for expanding Medicaid through private coverage, as Arkansas has already done. Under one plan, Medicaid dollars would pay for people up to 133 percent of the federal poverty level to purchase private insurance on HealthCare.gov. The alternative plan would use Medicaid dollars for people up to the poverty level to buy private coverage on HealthCare.gov; those above the poverty level would receive federal tax subsidies to help purchase insurance through the federal website.
It's not clear which strategy the state will adopt, and Herbert didn't express a preference. Medicaid expansion would cover 60,000 Utahans, according to the Tribune. Utah would be the 26th state, along with Washington, D.C., to accept expansion.
A privatized Medicaid expansion plan would require approval from the Obama administration, but federal officials have already signed off on a similar plan in Arkansas.
Another one!
Parents signing up for plans and their children are not covered and not eligible.
Many Children Unable To Be Included In Parents’ Obamacare Family Plans « CBS DC
But basically they are looking for the free ride or subsidized plan that they were assured was there for them.
Nope... open those wallets and pay up.
Typical Lib.... attacking the disabled.
Parents signing up for plans and their children are not covered and not eligible.
Many Children Unable To Be Included In Parents’ Obamacare Family Plans « CBS DC
But basically they are looking for the free ride or subsidized plan that they were assured was there for them.
Nope... open those wallets and pay up.
Typical Lib.... attacking the disabled.
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more bad news for Republicans:
STUDY: Average Obamacare Plans Are Cheaper Than Employer-Sponsored Ones | ThinkProgress
STUDY: Average Obamacare Plans Are Cheaper Than Employer-Sponsored Ones
Premiums for most health plans sold through Obamacare’s state and federal marketplaces are lower than those for the average employer-sponsored plan, according to a new analysis by consulting firm PricewaterhouseCoopers (PwC).
“In 2014 health insurance plans offered on the ACA’s 51 new exchanges are on average, comparable to, or lower priced than, similar employer-based plans,” wrote PwC. “In addition, most exchange shoppers have a wider variety of plans than the typical employer-based offering.”
CREDIT: PricewaterhouseCoopers
Last year, the Congressional Budget Office (CBO) projected that Obamacare premiums would be 18 percent lower than originally expected. The PwC analysis puts that figure in concrete terms, finding that the median Silver, Gold, and Platinum plans sold through the marketplaces are anywhere from $61 to $1377 cheaper than the average employer plan. The cheapest mid-level Silver plan — the most popular option for Americans buying new policies — could be almost $2500 cheaper than an employer sponsored plan.
The main reason that Obamacare plans are more affordable on a month-to-month basis is that the health law extends tax credits to Americans who have incomes between the poverty level and four times the poverty level. Early numbers indicate that over 80 percent of Americans buying plans qualify for some sort of subsidy, with the poorest Americans paying less than $100 per month in premiums.
In addition to the premium subsidies, the ACA extends so-called “cost-sharing” subsidies to those below 2.5 times the poverty level. These subsidies limit the annual out-of-pocket costs, such as deductibles and co-pays, that consumers have to pay and are only available to people who buy Silver plans.
PwC ends by noting that the Obamacare exchanges may actually be a better deal for their employees, and particularly poorer workers. “f pricing dynamics in the public exchanges are sustained over time, this may provide an opportunity for employers to reexamine new approaches to providing health insurance coverage for their workers,” wrote the authors.
---------------------
Major Insurer: More Obamacare Sign-Ups Than We Expected
Major Insurer: More Obamacare Sign-Ups Than We Expected
A major health insurance company reported Wednesday that its Obamacare sign-ups were higher than its projections, some of the first concrete evidence that the health care reform law is working from the industry's perspective.
Joseph Swedish, CEO of WellPoint, told investors that the company had received 500,000 applications through HealthCare.gov and its state-operated counterparts. He said the number was "ahead of our most recent projections." He added that applications had spiked in December and the company expects another surge before the March 31 deadline to enroll in coverage for 2014.
“We do feel good about what we’ve seen thus far on the exchanges,” Swedish said on the call. “While it is early, we are encouraged by the level of applications we’ve received."
The majority of those applicants were not previously enrolled with WellPoint, Swedish said, though it wasn't clear whether they were previously uninsured or insured by another company.
As for the demographic make-up of those enrollees, which will be one of the critical barometers for Obamacare's success, Swedish said that the numbers were "tracking closely with expectations." The Obama administration's original goal had been for close to 40 percent of enrollees to be under 35, but the initial breakdown reported this month showed about 24 percent fell in that age group.
That might not be a major problem for insurers, though, as Swedish said that WellPoint had priced its products expecting its Obamacare enrollees to be older than its existing customers.
Overall, WellPoint executives expressed optimism about what the law would mean for their business.
"We entered 2014 with a strong foundation, and we look forward to the opportunity to serve a growing part of the marketplace this year and into the future," Swedish said.
----------
More lives and more money saved thanks to ACA.
Thank you President Obama.
STUDY: Average Obamacare Plans Are Cheaper Than Employer-Sponsored Ones | ThinkProgress
STUDY: Average Obamacare Plans Are Cheaper Than Employer-Sponsored Ones
Premiums for most health plans sold through Obamacare’s state and federal marketplaces are lower than those for the average employer-sponsored plan, according to a new analysis by consulting firm PricewaterhouseCoopers (PwC).
“In 2014 health insurance plans offered on the ACA’s 51 new exchanges are on average, comparable to, or lower priced than, similar employer-based plans,” wrote PwC. “In addition, most exchange shoppers have a wider variety of plans than the typical employer-based offering.”
Last year, the Congressional Budget Office (CBO) projected that Obamacare premiums would be 18 percent lower than originally expected. The PwC analysis puts that figure in concrete terms, finding that the median Silver, Gold, and Platinum plans sold through the marketplaces are anywhere from $61 to $1377 cheaper than the average employer plan. The cheapest mid-level Silver plan — the most popular option for Americans buying new policies — could be almost $2500 cheaper than an employer sponsored plan.
The main reason that Obamacare plans are more affordable on a month-to-month basis is that the health law extends tax credits to Americans who have incomes between the poverty level and four times the poverty level. Early numbers indicate that over 80 percent of Americans buying plans qualify for some sort of subsidy, with the poorest Americans paying less than $100 per month in premiums.
In addition to the premium subsidies, the ACA extends so-called “cost-sharing” subsidies to those below 2.5 times the poverty level. These subsidies limit the annual out-of-pocket costs, such as deductibles and co-pays, that consumers have to pay and are only available to people who buy Silver plans.
PwC ends by noting that the Obamacare exchanges may actually be a better deal for their employees, and particularly poorer workers. “f pricing dynamics in the public exchanges are sustained over time, this may provide an opportunity for employers to reexamine new approaches to providing health insurance coverage for their workers,” wrote the authors.
---------------------
Major Insurer: More Obamacare Sign-Ups Than We Expected
Major Insurer: More Obamacare Sign-Ups Than We Expected
A major health insurance company reported Wednesday that its Obamacare sign-ups were higher than its projections, some of the first concrete evidence that the health care reform law is working from the industry's perspective.
Joseph Swedish, CEO of WellPoint, told investors that the company had received 500,000 applications through HealthCare.gov and its state-operated counterparts. He said the number was "ahead of our most recent projections." He added that applications had spiked in December and the company expects another surge before the March 31 deadline to enroll in coverage for 2014.
“We do feel good about what we’ve seen thus far on the exchanges,” Swedish said on the call. “While it is early, we are encouraged by the level of applications we’ve received."
The majority of those applicants were not previously enrolled with WellPoint, Swedish said, though it wasn't clear whether they were previously uninsured or insured by another company.
As for the demographic make-up of those enrollees, which will be one of the critical barometers for Obamacare's success, Swedish said that the numbers were "tracking closely with expectations." The Obama administration's original goal had been for close to 40 percent of enrollees to be under 35, but the initial breakdown reported this month showed about 24 percent fell in that age group.
That might not be a major problem for insurers, though, as Swedish said that WellPoint had priced its products expecting its Obamacare enrollees to be older than its existing customers.
Overall, WellPoint executives expressed optimism about what the law would mean for their business.
"We entered 2014 with a strong foundation, and we look forward to the opportunity to serve a growing part of the marketplace this year and into the future," Swedish said.
----------
More lives and more money saved thanks to ACA.
Thank you President Obama.
more bad news for Republicans:
STUDY: Average Obamacare Plans Are Cheaper Than Employer-Sponsored Ones | ThinkProgress
STUDY: Average Obamacare Plans Are Cheaper Than Employer-Sponsored Ones
Premiums for most health plans sold through Obamacare’s state and federal marketplaces are lower than those for the average employer-sponsored plan, according to a new analysis by consulting firm PricewaterhouseCoopers (PwC).
“In 2014 health insurance plans offered on the ACA’s 51 new exchanges are on average, comparable to, or lower priced than, similar employer-based plans,” wrote PwC. “In addition, most exchange shoppers have a wider variety of plans than the typical employer-based offering.”
CREDIT: PricewaterhouseCoopers
Last year, the Congressional Budget Office (CBO) projected that Obamacare premiums would be 18 percent lower than originally expected. The PwC analysis puts that figure in concrete terms, finding that the median Silver, Gold, and Platinum plans sold through the marketplaces are anywhere from $61 to $1377 cheaper than the average employer plan. The cheapest mid-level Silver plan — the most popular option for Americans buying new policies — could be almost $2500 cheaper than an employer sponsored plan.
The main reason that Obamacare plans are more affordable on a month-to-month basis is that the health law extends tax credits to Americans who have incomes between the poverty level and four times the poverty level. Early numbers indicate that over 80 percent of Americans buying plans qualify for some sort of subsidy, with the poorest Americans paying less than $100 per month in premiums.
In addition to the premium subsidies, the ACA extends so-called “cost-sharing” subsidies to those below 2.5 times the poverty level. These subsidies limit the annual out-of-pocket costs, such as deductibles and co-pays, that consumers have to pay and are only available to people who buy Silver plans.
PwC ends by noting that the Obamacare exchanges may actually be a better deal for their employees, and particularly poorer workers. “f pricing dynamics in the public exchanges are sustained over time, this may provide an opportunity for employers to reexamine new approaches to providing health insurance coverage for their workers,” wrote the authors.
---------------------
Major Insurer: More Obamacare Sign-Ups Than We Expected
Major Insurer: More Obamacare Sign-Ups Than We Expected
A major health insurance company reported Wednesday that its Obamacare sign-ups were higher than its projections, some of the first concrete evidence that the health care reform law is working from the industry's perspective.
Joseph Swedish, CEO of WellPoint, told investors that the company had received 500,000 applications through HealthCare.gov and its state-operated counterparts. He said the number was "ahead of our most recent projections." He added that applications had spiked in December and the company expects another surge before the March 31 deadline to enroll in coverage for 2014.
“We do feel good about what we’ve seen thus far on the exchanges,” Swedish said on the call. “While it is early, we are encouraged by the level of applications we’ve received."
The majority of those applicants were not previously enrolled with WellPoint, Swedish said, though it wasn't clear whether they were previously uninsured or insured by another company.
As for the demographic make-up of those enrollees, which will be one of the critical barometers for Obamacare's success, Swedish said that the numbers were "tracking closely with expectations." The Obama administration's original goal had been for close to 40 percent of enrollees to be under 35, but the initial breakdown reported this month showed about 24 percent fell in that age group.
That might not be a major problem for insurers, though, as Swedish said that WellPoint had priced its products expecting its Obamacare enrollees to be older than its existing customers.
Overall, WellPoint executives expressed optimism about what the law would mean for their business.
"We entered 2014 with a strong foundation, and we look forward to the opportunity to serve a growing part of the marketplace this year and into the future," Swedish said.
----------
More lives and more money saved thanks to ACA.
Thank you President Obama.
Gee I wonder why there is no mention of deductibles ?
Maybe its because the subsidies and cost sharing reductions lower the deductibles and this good news would prove to be even more bad news for ACA's critics.
Still drinking the Kool-Aid I see .Maybe its because the subsidies and cost sharing reductions lower the deductibles and this good news would prove to be even more bad news for ACA's critics.