Insurance comp.. can't shun coverage underneath obama plan, but will rates run up?
Answers: Of course. Individuals and companies will no longer hold the option of walking away from a bad promise.
Ask people in Nwe York how in good health that's working out for them. It's not uncommon to find a family plan for $3000/month near. Yes it will absolutely go up. The federal gov't should not be handling this issue. The state governement should be providing condition plans for those with low income and that have pre-existing conditions.
Maryland have a great plan called MHIP and MHIP+. Look it up and ask your senator why your state doesn't have that.
Absolutely. Here are the reasons why:
1. The largest employees provide form coverage but DON'T BUY HEALTH INSURANCE for their employees. They are "self-insured". They merely use the services of an insurance company to handle the claims. There will be no effect to the insurance companies, but the costs to employer will rise or they will reduce benefits.
2. The smallest employers and individuals, who are in a minute insured, will be the only ones to subsidize those people, who right in a minute can't or won't purchase insurance.
With pre-existing conditions eliminated, everyone will be charged a higher average premium to protect against this.
With guaranteed espousal and guaranteed renewal, everyone will be charged a higher average premium to protect against this.
Don't be fooled into thinking that health insurance companies can occupy the cost. The profit margins earned by health insurance companies are greatly small and are closely regulated by each individual State Insurance Department. The Insurance Departments require that the rates charged cover all expected claim costs plus company overhead expenses.
The alternative scenario is that the self-insured employer will pay a higher administrative cost to condition insurance companies to handle the claims. That's not likely to come up.
So, we're screwed.
There is no "Obama plan" yet.
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