Either way, the self-employed and small businesses are screwed

Aetna CEO predicts a 50%-100% increase in health insurance premiums as ObamaCare kicks in, the CBO estimates the increase to be “only” 10%-13%. I’ve never known a government program to come in anywhere close to budget so I’d bet the Aetna executive is right. If you’re one the unlucky Americans not eligible for a subsidy from taxpayers, and 43% of us  - that’s just about everyone who pays federal taxes – are, then you’re not gonna’ love it.

12 Comments

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12 responses to “Either way, the self-employed and small businesses are screwed

  1. Peg

    Oh – this will be just swell. Currently, between insurance ($1600 a month) and only a few doctor visits a year and medication, I’m spending well over $23,000 a year on BASIC health care. 50%-100% increases? Not sure I can afford to stay alive any longer!

    • Right there with you Peg. My Aetna bill hovers around $2000/mo and I’m healthy as a horse, no medication other than red wine! But there’s one consolation for us. Mr. EOS turned 65 this year and I, his much younger bride, turn 65 in 2013 so I plan to soak Uncle Sam for every Medicare benny I can get. And if something is free, I’ll take two! The cost of Medicare plus supplemental plans is $1100 LESS per month than I currently pay. Hurry up and turn 65 Peg!

      • Peg

        EOS – days I wonder if I’m going to make it to 62 1/2! Not to mention, I keep on wondering HOW on earth we’re going to pay for a bazillion baby boomers retiring and getting on Medicare in the next few years.

        Soylent Green?

        • Peg: We debated, seriously, about going on Medicare. Thinking just what you said, how can out federal government pay for the bazillion of us baby boomers. Our solution was to take the Medicare but not take any Social Security money due us (well, not really me, but Mr. EOS). Many of our friends who might feel comfortably solvent at 65 feel its our obligation to not accept this SS, even though its been earned. Now, that said, if the economy goes farther into the terlit, we’ll rethink our decision. No easy choices. And by the way, you sure look healthy and happy to me. Always on the go with bridge tournaments, keeping those brain cells alert! Terrific!

  2. Demmerkrat Patriot

    I’ll take that bet and quote a good, olde tyme politician, Rahm Emanuel. “You never let a serious crisis go to waste.”

    You don’t think it AT ALL possible that the insurance companies are raising their prices because they now have a plausible excuse to screw their policy holders some more? Isn’t that what profit motive is? Take all opportunities to increase shareholder value?

    Raising prices on those who are forced to pay sounds like a perfect business plan to me.

    • AndyD

      Obummercare also restricts profit margins to something like 15% so your big evil insurance company theory might not hold much water

      • Andy Andy Andy. Like the big insurance companies aren’t going do a simple workaround that pesky restriction?? Every year Aetna asks the State of New York permission to raise rates. Every year its approved. Every year they make more money. Click done. I figured that out and I was an English major.

        • AndyD

          Raising rates doesn’t translate into more earnings, you see companies have something called costs and these also rise. do you have any evidence to support they are making more $$$ per insured life every year? maybe they are, i just don’t know.

  3. Al Dente

    I knew I should have majored in Mortuary Science. Damn!

  4. Cos Cobber

    Who’s more evil, the hospital which charged me 30k for a surgery or the insurance company who flexed its muscle to knock the bill down to 18k? Obviously the hospitals mark it up knowing it will get cut down, but still…it takes two to tango and nobody in health care is saintly. Everyone (device makers, doctors, nurses, security guards, pharma, research, the insurance company) wants a piece of the pie and why shouldnt they.

    • What really frosts me, CC, is that if you’ve got (some, even if limited) assets and no insurance, you’re screwed by everybody in the system. When I was in that unfortunate situation a few years ago I paid $200+ for prescriptions that insurance companies were charged $50? for, the hospital charged me outrageous sums to make up the losses from bargained-down insurance reimbursement rates and worse, state Medicaid payments, etc. So I’m not at all pleased with our present medical care system, it’s just that I expect it to get worse under ObamaCare. Lucky us.

  5. Anonymous

    wonderful….not only are my taxes going up, but my premiums will rise as well next year. I look forward to spending 50% of my time working for “the man” in order to expand his welfare state.