Obamacare ‘Lie’ Touted By Landrieu Is Now A Reality In Louisiana

[Duaine]

Sen. Mary Landrieu (D-LA) previous claims that Obamacare will “drive down costs” are falling apart before her eyes, as healthcare providers announced that they expect health insurance premiums to increase by double-digits, something Landrieu once called a fabrication by the opposition.

Remember these words from Landrieu back in 2009, that Obamacare would “drives down costs and expand affordable health care choices for millions of families and small businesses in Louisiana and around the nation.”

Landrieu also lambasted opposition to Obamacare during the time, saying “Any claim to the contrary, is a pathetic lie meant to derail this bill, a tactic that was all too common during this debate.”

It seems that the supposed “lie” that Obamacare would drive costs up is now becoming a reality, at least in Louisiana.

Individuals who have individual health plans through Time Insurance Company could face a 24% premium rate increase, affecting at least 996 Louisianans. And the double-digit increases do not stop there.

Those who hold Blue Saver individual health plans through Blue Cross Blue Shield of Louisiana could face a 18.3% premium rate increase, affecting 18,041 Louisianans.

Those who hold Blue Max individual health plans through Blue Cross Blue Shield of Louisiana could face a 19.3% premium rate increase, affecting 30,273 Louisianans

Those who hold Multi-State individual health plans through Blue Cross Blue Shield of Louisiana could face a 19.7% premium rate increase, affecting 4,324 Louisianans

Those who hold individual health plans through Humana Louisiana could face a 15.5% premium rate increase in 2015, affecting at least 4,947 Louisianans.

“Mary Landrieu promised Louisianans that ObamaCare would lower costs for Louisianans and it turns out that was false,” said NRSC Press Secretary Brook Hougesen. “Instead, Louisianans are seeing rate increases and many received cancellation notices for plans that they like. This is a far cry from the promises that Landrieu repeatedly made and as a result, she not only owes Louisianans an apology, but an explanation.”

The rate increases are not the only mishap for Landrieu when it comes to Obamacare, which she infamously cast the deciding vote on in exchange for millions in federal aid for Louisiana. Landrieu has said that the healthcare overhaul would “expand” health insurance for millions in Louisiana, including those who were not insured.

But, a new report found that the uninsured in the state still did not sign up for Obamacare.

The percentage of uninsured Louisianans only dropped from 22.41 percent to 20.91 percent. Even with the implementation of Obamacare, there are still more than one of every five Louisianans that do not have health insurance.


http://thehayride.com/2014/07/obamacare-lie-touted-by-landrieu-is-now-a-reality-in-louisiana/

 

[toddoxley]

You mean that Obamacare is a lie ???

 

[somarco]

Prior to the election it is a promise of what is hoped will happen. After the election it was an error in judgement. Those who promised did not have enough data due to global warming, the estimates were off because the sun was in their eyes, the Republican's war on women caused the plan to derail.

 

[Bob_The_Insurance_Guy]

And, let's not forget, it will be the insurance companies, and them alone, who will receive all the blame for the increases.

The Democrats are Teflon, and will continue to be, through both of Hillary Rodham Clinton's terms.

 

[RayNY]

Any time a writer confuses "providers" and "carriers", especially in the first sentence, I'm instantly suspicious of anything else they say.

That said, all the politicians have to do is spout the same line they have every other time: "It's cheaper than it would have been; these increases are smaller than the increases you would have seen without Obamacare".

They'll always be right somehow.

 

[RWKAgency]

Those politicians knew what was coming, don't fool yourself. They saw what happened in NY, NJ and MA when those states adopted guaranteed issue, community rated health reform. They saw a $69 HMO rate jump to an astonishing $510. They know perfectly well how a lack of actuarial science will provide a scenario where your renewal rates are chasing last years losses due to unanticipated utilization costs.

 

[RayNY]

They know perfectly well how a lack of actuarial science will provide a scenario where your renewal rates are chasing last years losses due to unanticipated utilization costs.

I wish the issue was that minor.

In NY, the DFS/DOI has the ability to dictate renewal rates.

I read through hundreds of pages of filings, most carriers said their first year experience is invalid, wrote off the losses to pent up demand, and asked for reasonable increases, which were mostly cut in half. Some are baffling, like a +.83% increase getting changed to -2.59% for a company with 82.4% MLR.(https://myportal.dfs.ny.gov/web/prior-approval/summary-of-actions-premium-requests Average indy request: 12.5%, average granted: 5.7%. Average group request: 13.9%, average granted: 6.7%)

So, there's no way to recoup the losses, nor is there a way to even adjust properly for the risk next year, which will result in even more losses.

Now, with the "three R's" not working as planned, the safety net is effectively gone.

Buzz in the industry is, quite a few companies lost tens to hundreds of millions last year, are on track for more this year, and even more next year.

 

[sman]

Buzz in the industry is, quite a few companies lost tens to hundreds of millions last year, are on track for more this year, and even more next year.

Which is why we are seeing more and more carrier consolidation.

Cloward-Piven Startegy.

 

[RWKAgency]

I wish the issue was that minor.

In NY, the DFS/DOI has the ability to dictate renewal rates.

I read through hundreds of pages of filings, most carriers said their first year experience is invalid, wrote off the losses to pent up demand, and asked for reasonable increases, which were mostly cut in half. Some are baffling, like a +.83% increase getting changed to -2.59% for a company with 82.4% MLR.(https://myportal.dfs.ny.gov/web/prior-approval/summary-of-actions-premium-requests Average indy request: 12.5%, average granted: 5.7%. Average group request: 13.9%, average granted: 6.7%)

So, there's no way to recoup the losses, nor is there a way to even adjust properly for the risk next year, which will result in even more losses.

Now, with the "three R's" not working as planned, the safety net is effectively gone.

Buzz in the industry is, quite a few companies lost tens to hundreds of millions last year, are on track for more this year, and even more next year.

All 3 states have the ability for the DOI (or DOBI in NJ) to approve both new and renewal rate structures. We in NJ knew it wasn't going to work since as far back as 1993 when they passed PL 92-162. We have seen for 22 years what happens when politicians get generous with other people's money.