Wednesday, July 17, 2013

The Times Falsely Claims That Obamacare Cuts N.Y. Health Premiums By 50 Percent

Just a shill for the O administration so they and every liberal rag out there can claim success. You can't take an industry where margins are 3% and drop premiums by 50%. NOT POSSIBLE.

The Times Falsely Claims That Obamacare Cuts N.Y. Health Premiums By 50 Percent
By  Avik Roy
In an enthusiastic front-page story in today’s New York Times, Roni Caryn Rabin and Reed Abelson claim that, as a result of Obamacare, health insurance premiums for individuals shopping on their own for coverage will be “at least 50 percent lower on average than those currently available in New York” because “individuals in New York City who now pay $1,000 a month or more for coverage will be able to shop for health insurance for as little as $308 monthly.” See, Obamacare works!
Sounds great, except for a couple of points:
  • New York has one of the costliest and least functional individual-insurance markets in the nation, because many of the regulations that Obamacare imposes nationwide arealready present in New York, on steroids. Hence, New York’s market is far from typical.
  • In 2010, average per-person monthly premiums in the New York individual market were not “$1,000 or more,” but $357. Even less expensive plans can be found today onehealthinsurance.com. 
I’ll publish a more detailed analysis of New York’s insurance rates soon, but in the meantime, take the Times piece with a big grain of salt.
Via Yossi Gestetner.
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6 comments:

  1. MickJuly 17, 2013 at 6:50 PM

    NEW YORK (CNNMoney)

    New York state residents will be able to get health insurance next year on the Obamacare exchange for half the average price available in the state today.

    The cost of a "silver" plan -- which covers at least 70% of medical costs, on average -- will drop to as little as $359 a month for a single adult Manhattan resident, for instance, according to a rate sheet released Wednesday by state officials. Currently, the cheapest plan a city resident can buy on the individual market is $1,001.

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    Replies
    1. UnknownJuly 17, 2013 at 7:23 PM

      If you believe this nonsense I have a certain bridge I'd love to sell you.

      Delete
    2. MickJuly 18, 2013 at 1:32 PM

      I've always wanted to own the Hanrahan Bridge in Memphis. Seriously, those numbers are from the agency responsible for administering the insurance exchange. New York already has an insurance exchange system and those numbers reflect the fact that health insurance under that system is much too expensive, not that Obamacare is too cheap.

      Delete
  2. MickJuly 18, 2013 at 1:36 PM

    http://uk.reuters.com/article/2013/07/18/us-usa-healthcare-costs-idUKBRE96H0UM20130718

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  3. UnknownJuly 18, 2013 at 7:00 PM

    Teaser rates

    ReplyDelete
  4. Jean01July 23, 2013 at 7:29 AM

    Mick,

    I haven't read the article. Are the rates subsidized, as in, are those who have more picking up some of the tab for those who have less?

    Jean

    ReplyDelete

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