ok...
so my postings sometimes get so long that they become a rant! Perhaps
that is a reflection of how upset I am about what Trump, Ryan and
company are attempting to inflict on the American people. Or, maybe I
am outraged by the duplicity and outright lying that has no place in our
national policy discourse. I will admit that I cannot help being the
"retired" teacher that I am, and that FACTS matter to me, not
"alternative facts" or "fake news." So, this one is aimed at setting
the record straight about the ACA "death spiral" that Trump and Ryan
allege is taking place.... just more "alternative facts."
LETS TALK HEALTH CARE - AND "DEATH SPIRALS"
As the debate over health care continues, here comes some additional "alternative facts." The idea that the ACA is in a "death spiral" sounds suspiciously like the "death panels" fake news that was spread around during the debate on "Obamacare." Needless to say, the insurance giants - all of whom signed on and supported the ACA in the end based on the great expansion of new "customers" (either required to get insurance or subsidized with federal funds) that would enrich their companies, are NOT losing money and ARE NOT in a "death spiral." In fact, 8 million of more folks got insurance for the first time - and that means PAID FOR INSURANCE, subsidized or not, due to the ACA. The balance of those covered via ACA (non-insurance clients) are the working poor who earned enough money so that they didn't qualify for standard Medicaid, could not afford to pay for insurance based on income, but were covered through the "enhanced" Medicaid segment in Obamacare. "Working poor" were defined by income as those who were earning modest income but not enough to afford the purchase of insurance.
The "golden" category (for the insurers) - new insurance customers - BY THE MILLIONS - were required to have health insurance, through their employment, or through the private purchase of insurance either directly or through the "exchanges" provided for under the legislation. For individuals or families who could not afford to buy insurance, federal subsidies would be provided based on an income formula. Poorer folks would be provided larger subsidies so that insurance would be "affordable" even for those with lower income, lesser support for those with more earnings. In addition, employers with more than 50 employees could no longer refuse to cover their employees and are required to provide health care insurance for their workers. In any case, all of these would have to purchase insurance, directly or indirectly.
So, what is all this talk about "death spirals?" According to the Trumpers, Ryan, and the Republican supporters of their proposed "replacement" (read retreat from) health care bill, the ACA is fading away as the large insurance companies retreat from offering coverage and, as a result, competition and choice are reduced and premiums go up. They say over and over that "1/3 of the counties in America" as having only 1 insurance company offering coverage in 2017 as compared to 4 or 5 when the ACA program first appeared in 2010. Of course, that means, that in 2/3 of America's counties, more than one insurance company offers coverage. Further, the Republicans fail to mention that while premium rates have increased, that increase has slowed significantly compared to the failed health care system before the ACA.
Is this really a "death spiral" and is Obamacare "collapsing?" The Republicans want you to think that, regardless of subsidies, the private-for-profit insurance companies are withdrawing from offering coverage because they are losing large sums of money and have no option but to stop participating in the exchanges attached to the ACA. This is ABSOLUTE NONSENSE. Don't let your Republican "friends" pull this one on you.
Here are the facts:
All American corporations, for-profit and non-profit, are required to file annual financial reports on earnings each year in addition to filings with the IRS. The most recent filings - recorded in 2016 for the 2015 year, shows the following financial condition for three of the largest insurers in the nation - Humana, Aetna, and Blue Cross/Blue Shield.
HUMANA: Humana reported annual after-tax PROFITS of $1.1 to $1.2 BILLION each year from 2012 to 2015. In addition, they did a stock buy-back in 2014 with extra cash-on-hand of $4.6 BILLION. Needless to say, their stock on the Exchange has shot up quite well, thank you.
AETNA: Aetna described 2015 as "a banner year." In fact, Aetna also had so much cash on hand that they put in an offer to purchase Humana for $37 BILLION! By 2016, Aetna's after-tax profits went from $1.9 BILLION (2013) to $2.43 BILLION (2015). Some financial strain.......
BC/BS: Their 2016 report states that "overall profitability for industry leaders has improved based on reporting as of June 30, 2016." The BC/BS parent company was recently criticized for sitting on a cash surplus of $9.9 BILLION. Poor is me.......
So much for the Ryan position that the ACA is "imploding" and is in "a death spiral" because the insurance industry is losing money by participating in a "failing" insurance system. The result, or so the story goes, is that insurance companies are losing so much that they are pulling out of the exchanges. NONSENSE. On the contrary, they have been enriched by the addition of millions of new customers, 3/4 of which have been subsidized to be able to but insurance for the first time.
And, of course, we should simply ignore the fact that 14 million Americans will lose health care coverage initially and some 24-26 million in a few years. And, also ignore the fact that the hospitals and health care systems have expanded - including some 2.2 million new jobs - since more Americans were able to access health care professionals and facilities beyond the Emergency Rooms.
And, now the CBO says that insurance rates will spike up to 20% in the first year of the Republican plan as millions fewer will be covered, and companies are no longer required to cover their employees. Higher costs, less coverage, more hurt. And, for what? Save the "failing" insurance companies who are experiencing record profits and are flush with cash? Or, is the agenda really all about tax cuts for big corporations and the uber wealthy? This is beyond a disgrace. It is an OUTRAGE!
Stand Up! Speak Out! March On!
LETS TALK HEALTH CARE - AND "DEATH SPIRALS"
As the debate over health care continues, here comes some additional "alternative facts." The idea that the ACA is in a "death spiral" sounds suspiciously like the "death panels" fake news that was spread around during the debate on "Obamacare." Needless to say, the insurance giants - all of whom signed on and supported the ACA in the end based on the great expansion of new "customers" (either required to get insurance or subsidized with federal funds) that would enrich their companies, are NOT losing money and ARE NOT in a "death spiral." In fact, 8 million of more folks got insurance for the first time - and that means PAID FOR INSURANCE, subsidized or not, due to the ACA. The balance of those covered via ACA (non-insurance clients) are the working poor who earned enough money so that they didn't qualify for standard Medicaid, could not afford to pay for insurance based on income, but were covered through the "enhanced" Medicaid segment in Obamacare. "Working poor" were defined by income as those who were earning modest income but not enough to afford the purchase of insurance.
The "golden" category (for the insurers) - new insurance customers - BY THE MILLIONS - were required to have health insurance, through their employment, or through the private purchase of insurance either directly or through the "exchanges" provided for under the legislation. For individuals or families who could not afford to buy insurance, federal subsidies would be provided based on an income formula. Poorer folks would be provided larger subsidies so that insurance would be "affordable" even for those with lower income, lesser support for those with more earnings. In addition, employers with more than 50 employees could no longer refuse to cover their employees and are required to provide health care insurance for their workers. In any case, all of these would have to purchase insurance, directly or indirectly.
So, what is all this talk about "death spirals?" According to the Trumpers, Ryan, and the Republican supporters of their proposed "replacement" (read retreat from) health care bill, the ACA is fading away as the large insurance companies retreat from offering coverage and, as a result, competition and choice are reduced and premiums go up. They say over and over that "1/3 of the counties in America" as having only 1 insurance company offering coverage in 2017 as compared to 4 or 5 when the ACA program first appeared in 2010. Of course, that means, that in 2/3 of America's counties, more than one insurance company offers coverage. Further, the Republicans fail to mention that while premium rates have increased, that increase has slowed significantly compared to the failed health care system before the ACA.
Is this really a "death spiral" and is Obamacare "collapsing?" The Republicans want you to think that, regardless of subsidies, the private-for-profit insurance companies are withdrawing from offering coverage because they are losing large sums of money and have no option but to stop participating in the exchanges attached to the ACA. This is ABSOLUTE NONSENSE. Don't let your Republican "friends" pull this one on you.
Here are the facts:
All American corporations, for-profit and non-profit, are required to file annual financial reports on earnings each year in addition to filings with the IRS. The most recent filings - recorded in 2016 for the 2015 year, shows the following financial condition for three of the largest insurers in the nation - Humana, Aetna, and Blue Cross/Blue Shield.
HUMANA: Humana reported annual after-tax PROFITS of $1.1 to $1.2 BILLION each year from 2012 to 2015. In addition, they did a stock buy-back in 2014 with extra cash-on-hand of $4.6 BILLION. Needless to say, their stock on the Exchange has shot up quite well, thank you.
AETNA: Aetna described 2015 as "a banner year." In fact, Aetna also had so much cash on hand that they put in an offer to purchase Humana for $37 BILLION! By 2016, Aetna's after-tax profits went from $1.9 BILLION (2013) to $2.43 BILLION (2015). Some financial strain.......
BC/BS: Their 2016 report states that "overall profitability for industry leaders has improved based on reporting as of June 30, 2016." The BC/BS parent company was recently criticized for sitting on a cash surplus of $9.9 BILLION. Poor is me.......
So much for the Ryan position that the ACA is "imploding" and is in "a death spiral" because the insurance industry is losing money by participating in a "failing" insurance system. The result, or so the story goes, is that insurance companies are losing so much that they are pulling out of the exchanges. NONSENSE. On the contrary, they have been enriched by the addition of millions of new customers, 3/4 of which have been subsidized to be able to but insurance for the first time.
And, of course, we should simply ignore the fact that 14 million Americans will lose health care coverage initially and some 24-26 million in a few years. And, also ignore the fact that the hospitals and health care systems have expanded - including some 2.2 million new jobs - since more Americans were able to access health care professionals and facilities beyond the Emergency Rooms.
And, now the CBO says that insurance rates will spike up to 20% in the first year of the Republican plan as millions fewer will be covered, and companies are no longer required to cover their employees. Higher costs, less coverage, more hurt. And, for what? Save the "failing" insurance companies who are experiencing record profits and are flush with cash? Or, is the agenda really all about tax cuts for big corporations and the uber wealthy? This is beyond a disgrace. It is an OUTRAGE!
Stand Up! Speak Out! March On!
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