Huge numbers of Obamacare enrollments incomplete

As of yesterday, only around half of those who had signed up for healthcare coverage offered by over 100 insurers in 17 states under Obamacare had paid for their plans.

As a result, confusion is set to reign when the coverage takes effect tomorrow and until insurers can process those payments and issue membership cards. Around 2M people have signed up for coverage.

Insurers are attempting to alleviate the situation for customers by saying they'll accept payment as late as January 31 for coverage that starts tomorrow.

Meanwhile, Pharmacy chains such as CVS Caremark (CVS) and Walgreen (WAG) will provide prescription medications to consumers who have started but not completed the sign-up process.

More on Obamacare.

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Comments (5)
  • DeepValueLover
    , contributor
    Comments (11312) | Send Message
    1. Establish Medical Saving Accounts.


    Under this program, you could deposit tax-free money into a Medical Savings Account (MSA). Whenever you need the money to pay medical bills, you will be able to withdraw it. For individuals without an MSA, Make all healthcare expenditures 100 percent tax deductible.


    2. Deregulate the healthcare industry.


    We should repeal all government policies that increase health costs and decrease the availability of medical services. For example, every state has laws that mandate coverage of specific disabilities and diseases. These laws reduce consumer choice and increase the cost of health insurance. By making insurance more expensive, mandated benefits increase the number of uninsured American workers.


    3. Remove barriers to safe, affordable medicines.


    We should replace harmful government agencies like the Food & Drug Administration (FDA) with more agile, free-market alternatives. The mission of the FDA is to protect us from unsafe medicines. In fact, the FDA has driven up healthcare costs and deprived millions of Americans of much-needed treatments. For example, during a 10-year delay in approving Propanolol Propranolol (a heart medication for treating angina and hypertension), approximately 100,000 people died who could have been treated with this lifesaving drug. Bureaucratic roadblocks kill sick Americans.
    31 Dec 2013, 05:26 AM Reply Like
  • june1234
    , contributor
    Comments (4473) | Send Message
    1. Medical savings accounts ,generally associated with self employed individuals, have been around for a long time,haven't done anything to curtail rise in medical costs which from 93- 2007 rose by almost 11% per year(from 07 till now its "only" bout 5% per year) .Compound all that and you have your health care costs problem.


    2.Currently medical insurance industry , courtesy of Congress, enjoys anti-trust exemptions which works out great for them. Their lobbyists aren't about to let that change this century. Follow the money


    3. Totally agree. Never happen (yet anyhow).The active ingredient in the popular over the counter respiratory product Mucinex is an herb. However you can't patent any herb anymore you can patent air or water. And the FDA and AMA support big pharma just like Congress does. Chelation, a therapy still used today to treat lead poisoning (its been around since the 50's) also removes the plaque from your arteries(along with metals like lead). Chelation will never be approved by FDA or AMA not to compete with $25B a yr cholesterol lowering drugs on the market today. Again follow the money
    31 Dec 2013, 08:29 AM Reply Like
  • The Deep Value Investor
    , contributor
    Comments (299) | Send Message
    I agree, but on point one you mean HSA (Health Savings Account) not MSA (Medical Savings Account) A MSA is very different from an HSA.
    31 Dec 2013, 08:14 AM Reply Like
  • The Deep Value Investor
    , contributor
    Comments (299) | Send Message
    From Wikipedia:


    Future of the Archer MSA Program
    In 2003, the health savings account was created. Since HSAs are a more widely available version of the MSA the original program is by and large obsolete. The exception to this is the state of California where MSA contributions are deductible on a state level and HSA contributions are not.
    Since the Archer MSA is a pilot program, it must be extended periodically by the US Treasury Department. The present extension of the program ended December 31, 2007. The US Treasury did not extend the program beyond this point, and as a result no new Archer MSAs may be opened. Current accounts can either be left open as is or converted to an HSA.
    At this time there are no financial institutions opening new MSAs. This is because of the creation of the Health Savings Account (HSA) in 2003. The HSA is available to everyone who participates in a qualifying High Deductible Health Plan (HDHP), not just the self-employed or small corporations.
    31 Dec 2013, 08:18 AM Reply Like
  • BlueOkie
    , contributor
    Comments (10632) | Send Message
    We cannot expect the medical community to self regulate itself. It needs some oversight by the FEDs. How much is the question. ACA was created to solve a healthcare problem that was created by the government. The gov't is never the solution but it is the problem.. ACA is just starting. What gov't program works well??? What makes us think 1/6th of our economy isn't in big trouble.
    31 Dec 2013, 11:28 AM Reply Like
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