Author Topic: NY Slimes tries -- and fails -- to protect Obamacare from health insurance 'rate shock'  (Read 468 times)

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Offline rangerrebew

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The NY Times Tries -- And Fails -- To Protect Obamacare From Health Insurance 'Rate Shock'

By forbes.com 07/18/2013 16:19:00

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The NY Times Tries -- And Fails -- To Protect Obamacare From Health Insurance 'Rate Shock'

Yesterday, fans of Obamacare were cheering.

A front-page story in the New York Times announced that individuals shopping for health insurance in New York would see their premiums halved, based on figures released by the Andrew Cuomo administration. It was an “extraordinary decline” that “demonstrates the profound promise” of Obamacare, said one supporter of the law. But the cheerleaders are wrong. New York’s premiums will remain among the costliest in the nation, after Obamacare becomes fully operational. And the unique history of how the Empire State destroyed its individual health-insurance market—using policies quite similar to Obamacare’s—will translate, at best, to only a handful of other states.

We’ll start our discussion with a recounting of that tale, of the unflattering history of the individual health insurance market in New York state.

Mario Cuomo destroyed the New York insurance market

Our story begins in 1992, during the third term of Gov. Mario Cuomo, the liberal lion of his day. In July of that year, Gov. Cuomo signed into law the most draconian health insurance regulations drafted in recent times. Insurers were barred from charging different rates based on age, gender, or health or smoking status, what wonks will call pure community rating. In addition, insurers were not allowed to deny coverage based on pre-existing conditions, a.k.a. guaranteed issue. The state mandated that all plans cover a specified set of benefits, and restricted certain cost-sharing practices.

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http://www.presidentandceomagazine.com/finance-operations/4949-the-ny-times-tries-and-fails-to-protect-obamacare-from-health-insurance-rate-shock.html
« Last Edit: October 24, 2013, 06:32:39 AM by rangerrebew »
Constitutions are not designed for metaphysical or logical subtleties, for niceties of expression, for critical propriety, for elaborate shades of meaning, or for the exercise of philosophical acuteness or judicial research. They are instruments of a practical nature, founded on the common business of human life, adapted to common wants, designed for common use, and fitted for common understandings.

Joseph Story

Offline Olivia

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I've done some reading on the different price of Obama care, according to where you live.
I'd like to know how they decided on these figures.
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Offline rangerrebew

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I've done some reading on the different price of Obama care, according to where you live.
I'd like to know how they decided on these figures.

It may depend on the areas where the wealthiest people live.  For example, wealthy areas have higher potential to fleece the flock so they have higher rates, while ghetto areas take all they can to put people in a position of needing the government and, therefore, supportive of democrats. :whistle:
Constitutions are not designed for metaphysical or logical subtleties, for niceties of expression, for critical propriety, for elaborate shades of meaning, or for the exercise of philosophical acuteness or judicial research. They are instruments of a practical nature, founded on the common business of human life, adapted to common wants, designed for common use, and fitted for common understandings.

Joseph Story


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