Obamacare

California Just Gave Us a Glimpse of How Obamacare Will Fail

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Turns out no one knows how Obamacare will work - not even the big-name insurers.

And now, we're starting to see the effects of uncertainty.

Today (Thursday), the Los Angeles Times reported that United Health, Aetna, and Cigna have opted out of the California insurance exchange.

UnitedHealth has adopted a wait-and-see policy: "We are simply taking the time to carefully evaluate and better understand how the exchanges will work to ensure we are best prepared to participate meaningfully in their development," explains a spokesman to the LA Times.

Cigna resolved to participate in exchanges in only half of the 10 states where it sells individual health policies, and California didn't make the cut.

Aetna referred LA Times' questions to Covered California, the state agency in charge of implementing Obamacare.

That means millions of Californians who will have to choose health insurance from exchanges or face a penalty will not be able to pick plans from those three big insurers - signaling limited options ahead thanks to Obamacare.

UnitedHealth, Aetna, and Cigna's response to the California exchange is just the beginning.

These three companies are but the first dominoes to fall to Obamacare's less-than-clear implementation.

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How the Sequester is Killing Healthcare Jobs

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Sequester-driven budget cuts to Medicare are threatening to spur massive job cuts in the healthcare industry.

And the pain doesn't stop there - the sequester cuts are already making healthcare harder to obtain for some Medicare patients.

Unfortunately, this is just the beginning. The longer Congress allows sequestration to continue, the deeper the cuts will go and the more widespread their impact.

When President Barack Obama and Congress failed to reach agreement on $1.2 trillion in cuts to federal spending before March 30 -- as mandated by the Budget Control Act of 2011 -- the sequester kicked in.

Medicare providers faced mandatory 2% across-the-board reductions in their reimbursements.

After the cuts went into effect on April 1, hospitals, doctors, insurers, prescription drug plans, and other healthcare providers immediately felt the impact.

In short, the sequester is delivering precisely the kind of broad, damaging and indiscriminate cuts that politicians warned would happen.

And as each day passes, the drastic consequences grow worse.

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Healthcare Costs: Same Procedure is $7,000 Here and $100,000 There

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When it comes to healthcare costs, Americans have been left in the dark.

Unlike when booking a hotel or buying a new flat-screen TV, Americans haven't had easy access to cost-comparison measures when deciding where to have their medical procedures done.

Turns out, if we had, some of us could have saved tens of thousands of dollars...

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Obamacare Facts: Check Out How High Your Premium Rate Will Soar

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Here's something from our list of Obamacare facts we've been examining: The Patient Protection and Affordable Care Act was supposed to make healthcare cheaper for all Americans, even free for some.

Facing constant criticism for his landmark healthcare bill, U.S. President Barack Obama continues to preach that new healthcare will indeed lower costs. Just two weeks ago he went so far as to claim that "for the 85% to 90% of Americans who already have health insurance, they're already experiencing most of the benefits of the Affordable Care Act even if they don't know it."

Unfortunately, it's looking increasingly unlikely that's the case.

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15 Obamacare Facts the President Doesn't Want You to Know

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From the first rumblings of a new healthcare law, critics have preached that the real Obamacare facts are far worse than the promises.

The real Obamacare facts include higher healthcare costs, diminished treatment quality, hidden taxes and an inflated deficit.  

"Obamacare was a political nightmare for Democrats in the 2010 election. In 2014, it's shaping up to be a political tsunami," Brad Dayspring, a communications strategist for the National Republican Senatorial Committee wrote in a recent email to supporters.

Indeed, President Obama's own party is even having second thoughts.

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Exclusive Interview: Protecting Yourself from the Worst of Obamacare

Even its staunchest supporters are beginning to worry it's a "train wreck".
But the truth is there's no fixing it now. 
In less than five months, on Oct. 1, the Affordable Care Act's insurance exchanges will go live online. Soon for millions of Americans Obamacare will become a reality.
But are you prepared for the changes Obamacare promises to bring?...
This issue is so important and misunderstood we had our own Frank Marchant interview one the country's foremost experts on the Affordable Care Act.
Here's are the dangers she says you need to be aware of...

Why Workers Are Getting Squeezed by Obamacare

Medical healthcare costs small Obamacare stipulates that large employers don't have to provide health insurance to those working fewer than 30 hours a week.

As a result, critics say, employers have increasingly cut worker hours to stay within the limit.

Fox Business' Stuart Varney noted Monday the latest jobs report showed 278,000 people were pushed involuntarily into part-time work when they wanted full-time work.

"In large part, that's because Obamacare's coming down the pike," Varney said.

The squeeze isn't happening only in the United States.

In Japan, employers have been limiting workers' hours to avoid paying health insurance for them for decades, Money Morning Chief Investment Strategist Keith Fitz-Gerald said on Fox Business' "Varney & Co."

Check out this video to hear Keith's take on the Obamacare provision and how it will affect American employees.

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Healthcare Stocks Start to Feel Pinch from Obamacare Law

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When the Supreme Court upheld the Obamacare law last year, many pundits set about predicting the winners and losers among healthcare stocks.

Now that full implementation of the Affordable Care Act is less than a year away, it's starting to look like the law will produce mostly losers.

Fallout from Obamacare has had a negative impact on the first-quarter earnings of many healthcare companies, a bad sign with so much time left before the law hits full force.

So far, we've seen disappointing reports from healthcare stocks in areas as diverse as medical testing, hospitals, insurers, and medical device makers.

"It's still early in the reporting season, but so far, it all points to softness," David Heupel, senior healthcare analyst at Thrivent Investment Management, told Reuters.

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Obamacare's War on Full-Time Jobs Will Sucker Punch Economy

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Obamacare's rules regarding hours worked and employer-sponsored healthcare coverage have entire industries looking at cutting down on their number of full-time employees in favor of more part-time employees.

Large industries affected include hotels, restaurants and retailers, as well as small businesses of all stripes.

In essence, the hefty financial burden imposed by Obamacare for having too many full-time employees is creating a huge incentive for many employers to cut workers' hours, or, in some cases, avoid hiring altogether.

Tens of millions of American workers are at risk of being denied employer-sponsored health insurance as a result, and will end up with less pay to boot.

It could be a disaster for the still-lagging U.S. economy.

"If you want to have reduced work, lower wages and economic stagnation, this is a great way to do it," Ed Haislmaier, a senior research fellow at the Heritage Foundation, told FOX News.

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How Obamacare Navigators Will Waste Your Time and Tax Money

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The insurance exchanges mandated by the 2009 health care law will be so utterly baffling that the U.S. Department of Health and Human Services now needs to hire of tens of thousands of "Obamacare navigators" - at a cost to taxpayers of $9 billion or more every year.

Anyone who uses the new exchanges will quickly find out why Obamacare navigators were deemed necessary. 

The draft application form for an individual is already up to 15 pages, while the form for a family is at 21 pages. And the instruction book is 61 pages.

"It's a lot of information that consumers are going to have to provide, and that could deter people from signing up," Laura Adams, senior insurance analyst at InsuranceQuotes.com, told MarketWatch. "That could be an issue for some people who don't like paperwork. And who likes paperwork?"

The government estimates the form will take anywhere from 20 to 45 minutes to complete, but that doesn't count all the information and document-gathering an applicant will need to do before even walking in the door of an exchange.

"If you like IRS forms, you're going to love this one," Ken Hoagland, chairman of conservative advocacy group Restore America's Voice, told MarketWatch. "These are the kinds of things that are going to drive people crazy."

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Just How Big Will Your "Obamacare Surprise" Be?…Wait Until You See This Chart

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When touting his signature healthcare reform law, the "Affordable Care Act," President Barack Obama promised it would "cut the cost of a typical family's premium by up to $2,500 a year."

But a new congressional study says Obamacare has, in fact, increased the average family premium by $3,000 - and that's before the most costly requirements of the law take effect next year.

"Higher healthcare premiums are the last thing single young adults and working families can afford," the report stated. "Yet contrary to what the president promised, that is exactly what Obamacare is projected to do."

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The Real Cost of Obamacare

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Like it or not, in less than a year - January 2014 - the core of U.S. President Barack Obama's healthcare reform goes into effect - and recent data show the cost of Obamacare will be quite high.

The statistics are startling, seeing as the intent of Obamacare was to reduce overall medical costs in the country - one big reason government spending is running wild - by improving access to treatment for Americans. An additional 30 million Americans are expected to be covered under Obamacare.

But new reports estimate the new healthcare system could cost about $1.3 trillion over the next 10 years.

That means the original outcome - which President Obama said would be to "cut the cost of a typical family's premium by up to $2,500 a year" - is far from reality.

Here's a breakdown of what Obamacare will really cost you - and your job could be included.

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The 7 Biggest Obamacare Lies

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As more of the 2009 healthcare reform law becomes reality, Americans are learning the hard way that many of the biggest Obamacare promises were Obamacare lies.

In retailing, they call this sort of thing "bait-and-switch," and it's against the law.

In Washington, it's called "business as usual."

During his first campaign for the highest elected office in the land, and later as he sought to push the Affordable Care Act (ACA) through Congress, U.S. President Barack Obama made a lot of enticing promises.

Some of these claims were true - under Obamacare, people can't be refused coverage for pre-existing conditions, for example - but many were assurances to the average American that no matter what, healthcare reform was almost all positive with few or no negatives.

Now we know that most of those assurances were Obamacare lies.

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Romneycare vs. Obamacare: Insurance Companies Win Either Way

Insurance companies would love to see a Mitt Romney victory in November that would result in the arrival of "Romneycare."

But they'd be equally happy if President Barack Obama is re-elected and his Affordable Care Act remains the law of the land.

In short, the insurance companies will profit either way and are planning accordingly.

But how is this possible?

By extending insurance to millions of people previously without coverage Obamacare will provide insurance companies with millions of new customers, a development that clearly will boost their bottom lines.

Romney has promised to dismantle Obamacare and replace it with his own "Romneycare," but don't mistake this new version for the comprehensive reform plan he signed into law as governor of Massachusetts in 2006.

Romney says his new plan would free up the healthcare markets to increase competition and drive down costs.

But this new incarnation of Romneycare -- perhaps more accurately described as Romneycare 2.0 -- is unlikely to contain healthcare costs and almost certainly will deliver fatter profits to private insurance companies.

"Under [Obamacare] reform, you get market expansion, and that's a good thing" for health companies, Dan Mendelson, the chief executive of Avalere Health, a consultancy told The Wall Street Journal.

"Under Romney, it's going to be like managed-care city," he said.

One thing is clear, however -- neither Obamacare nor Romneycare can stop Americans from getting older and swelling the rolls of government medical plans.

And that will spell huge profits for the companies who manage government programs.

Here's why...

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Ryancare vs. Obamacare: The Future of Medicare is at Stake

When Mitt Romney named Paul Ryan as his vice-presidential nominee, the Medicare battle jumped to the front and center of election 2012.

First introduced in 2010, "The Ryan Budget" is a bold plan that attempts to reduce the deficit by drastically cutting spending-which some claim will "cripple" Medicare.

So what is the truth?....

Ryancare vs Obamacare

Though the plans differ in ideology, Obamacare and Ryancare actually have some similarities.

In Ryan's plan, new enrollees after 2022 would have to choose between a private insurance plan and Medicare, making Medicare the "public option" that was so opposed in Obamacare.

Ryan's plan gives Medicare enrollees vouchers to choose from competing private insurance plans offered on a Medicare exchange. These exchanges closely resemble the exchanges in Obamacare that some Republican governors have refused to participate in.

And both plans basically "cut" the program by over $700 billion and set a growth cap on Medicare spending at GDP levels plus 0.5%.

The difference in the plans is how these cuts are made and why.

As Ezra Klein of the Washington Post says, "Democrats believe the best way to reform Medicare is to leave the program intact but vastly strengthen its ability to pay for quality. Republicans believe the best way to reform Medicare is to fracture the system between private plans and traditional Medicare and let competition do its work."

The only problem is that neither of these plans may do enough to fix Medicare.

The biggest misconception with Ryan's plan is that current senior citizens will be faced with outrageous healthcare costs.

That is simply not true.

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