Seeking Alpha

Over 2.1M signed up as Obamacare plans take effect

  • More than 2.1M people have signed up for Obamacare-mandated health insurance, which has gone into effect today. That's an addition of 1.6M consumers in December, but somewhat below the 3.3M that was initially projected.
  • Administration officials also don't know how many people have paid, while insurers haven't received all the information they need about those who have bought plans. As a result, much confusion is expected when patients turn up for appointments, a situation the government is hoping to help alleviate with a toll-free call center.
  • Around 3.9M people are judged eligible for Medicaid and a related children's insurance program, although it's not known how many have signed up. Another 3M young Americans have coverage under their parents' plans.
  • More on Obamacare.
  • Health insurers: AET, HNT, HUM, UNH, WLP, MOH.
  • Hospital operators: HCA, CYH, THC, UHS, HMA, LPNT.
  • ETFS: XLV, XHE, VHT, FXH, IHF, IHI, IYH, PTH, RYH, PSCH, RXL, RXD, XHS.
Comments (27)
  • DeepValueLover
    , contributor
    Comments (7771) | Send Message
     
    Cato said it best...

     

    "First, Congress should give Medicare enrollees a voucher and the freedom to choose any health plan on the market. Vouchers would be means-tested, would contain Medicare spending, and are the only way to protect seniors from government rationing.

     

    Second, to give workers control over their health care dollars, Congress should reform the tax treatment of health care with “large” health savings accounts. Large HSAs would reduce the number of uninsured Americans, would free workers to purchase secure health coverage from any source, and would effectively give workers a $9.7 trillion tax cut without increasing the federal budget deficit.

     

    Third, Congress should break up state monopolies on insurance and clinician licensing. Allowing consumers to purchase health insurance licensed by other states could cover one-third of the uninsured without any new taxes or government subsidies.

     

    Finally, Congress should reform Medicaid and the State Children’s Health Insurance Program the way it reformed welfare in 1996. Block-granting those programs would reduce the deficit and encourage states to target resources to the truly needy."
    1 Jan, 07:44 AM Reply Like
  • Jake2992
    , contributor
    Comments (820) | Send Message
     
    None of those things would do anything to bring down costs. Why, for instance, does medicare need to voucherized? Medicare already has lower administrative costs than private insurers because of lack of a need to turn a profit. Voucherizing the program would just increase costs for seniors and funnel more money to private companies.

     

    That shouldn't be surprising considering the CATO institute is 100% funded by private radical right wing donors. They are in no way an intellectual outfit. They are a propaganda outfit.
    1 Jan, 09:39 AM Reply Like
  • DeepValueLover
    , contributor
    Comments (7771) | Send Message
     
    Jake2992:

     

    You had a pretty intelligent response in your first paragraph.

     

    Then you went and ruined it by misusing the word "radical" as those on the political left are oft to do.

     

    Oh well...
    1 Jan, 10:21 AM Reply Like
  • Evanku2007
    , contributor
    Comments (28) | Send Message
     
    Jake...Medicare might indeed have lower administrative costs, but the sheer amount of waste, fraud, and abuse coming out of Medicare and similar programs is why it needs to be reformed...how could anyone call reforming a broken program a radical concept??
    1 Jan, 02:27 PM Reply Like
  • chopchop0
    , contributor
    Comments (2994) | Send Message
     
    "Why, for instance, does medicare need to voucherized? Medicare already has lower administrative costs than private insurers because of lack of a need to turn a profit."

     

    Because then healthcare spending would stop being a "carte blanche" and patients and doctors would actually have to talk about how much things are going to cost if it starts exceeding the cost of the vouchers
    1 Jan, 09:15 PM Reply Like
  • diaperdawg
    , contributor
    Comments (33) | Send Message
     
    LMAO -- Calling a spade, a "spade" is candid and truthful.
    2 Jan, 12:21 PM Reply Like
  • TAS
    , contributor
    Comments (1889) | Send Message
     
    This approach will not generate further dependency upon government, and thus defeat the prime Democrat objective:

     

    Buying votes.
    1 Jan, 08:24 AM Reply Like
  • kata
    , contributor
    Comments (414) | Send Message
     
    They soon wont be buying many votes from Medicare recipients, 75% of
    whom are female and who now or soon wont get coverage for tests for
    cervical cancer or will not get tests or coverage for early stage breast
    cancer because they aren't going to classify it as cancer anymore.

     

    In addition, reimbursements for kidney dialysis have been cut, doctors
    networks have been cut, hospitals have been cut, support for testing for
    Alzheimer's has been cut and it looks like knee replacement surgery is next. And I shouldn't leave out the medications that are no longer included
    in the Medicare Formulary or the coming "..co-morbidities.." that will allow
    the new anonymous nine member Panel of Experts like Ezekiel Emmanuel to ration, but let's not call it rationing. The new Lets-not-refer-to-it-as rationing Board created by the ACA (aka Obamacare) and that no
    one but the head of HHC is allowed to oversee or control, thus giving the
    Democratic politicians cover from angry, old, constituents, will certainly
    contain costs wont it? Talk about a war against women, just a different
    group of them. And in fairness, PSA tests aren't important anymore either, right?

     

    Is this what you mean by reducing the cost of Medicare? The much touted
    Bending of the Cost Curve? Yes,I can understand that the population is
    aging and that our lifespans are increasing far beyond what anyone
    expected 40 years ago and you cant pay for everything for everybody but I cannot understand why older adults, I hate the term Seniors, are not allowed to buy additional major medical policies, the real definition of
    Catastrophic care, that would cost the gov't nothing but assure that they
    could afford the tests and treatment that Medicare apparently is not going
    to cover.

     

    Can you explain why I shouldn't be alarmed when none other than Oprah
    Winfrey goes on the BBC and announces that the Boomer generation
    is "..steeped in racism and ..just has to die.." and the next week is given a
    medal of freedom by the President of the US?

     

    I'll take a voucher or a tax deduction and pay for the balance myself but I
    wont pay to have my hardworking capital transferred to somebody else
    more deserving than me while the politicians take a vig for setting up the
    system. I'll donate to every candidate who offers to give me a platform for
    my views since I have no other lobby. And I suspect most of them wont be Democrats.
    1 Jan, 02:57 PM Reply Like
  • 1980XLS
    , contributor
    Comments (3310) | Send Message
     
    Kata

     

    Yep,

     

    Just look what happened to MYGN stock the other day.

     

    Crushed on reduced Medicare reimbursements for Breast cancer testing.

     

    But the republicans hate women, remember?
    1 Jan, 03:37 PM Reply Like
  • 1980XLS
    , contributor
    Comments (3310) | Send Message
     
    Wake me up, when the amount of new enrollees exceeds that of those that have had their coverage dropped.

     

    Period.
    1 Jan, 08:46 AM Reply Like
  • Jake2992
    , contributor
    Comments (820) | Send Message
     
    It's already happened. Something tells me you can't be woken up.
    1 Jan, 09:41 AM Reply Like
  • DeepValueLover
    , contributor
    Comments (7771) | Send Message
     
    Nope.

     

    It, in fact, has not "happened".
    1 Jan, 10:22 AM Reply Like
  • dcraik
    , contributor
    Comments (10) | Send Message
     
    Math … the silent killer
    1 Jan, 10:39 AM Reply Like
  • SoCalNative
    , contributor
    Comments (376) | Send Message
     
    LMAO! Good one, dc
    1 Jan, 10:55 AM Reply Like
  • 1980XLS
    , contributor
    Comments (3310) | Send Message
     
    Jake,

     

    Were your math skills taught by government education too?

     

    Or, perhaps you are one of those being subsidized by the younger generation that has already been victimized with trillions in inherited debt?

     

    3 Million probably disagree with you.

     

    http://bit.ly/19ICdaA
    1 Jan, 02:52 PM Reply Like
  • chopchop0
    , contributor
    Comments (2994) | Send Message
     
    Math is irrelevant in this situation.

     

    Obama has deemed which plans will be acceptable under the new regimen and which ones will NOT. Plenty of bare-bone, high-deductible cheap plans are about to become history.
    1 Jan, 10:09 PM Reply Like
  • slash32is4
    , contributor
    Comments (115) | Send Message
     
    have health insurance... not health care
    1 Jan, 09:48 AM Reply Like
  • SoCalNative
    , contributor
    Comments (376) | Send Message
     
    Jesus, Jake... give us a break. Let me guess... anyone here at SA who doesnt think OBAMACARE is the greatest gift to minkind is a right-wing traitor?
    1 Jan, 09:50 AM Reply Like
  • DeepValueLover
    , contributor
    Comments (7771) | Send Message
     
    SoCalNative:

     

    Don't forget..they are also "racist" too!
    1 Jan, 10:22 AM Reply Like
  • Daniel5150
    , contributor
    Comments (102) | Send Message
     
    Could not agree with any statement more than yours SoCaiNative.
    1 Jan, 10:18 AM Reply Like
  • 1980XLS
    , contributor
    Comments (3310) | Send Message
     
    Jake,

     

    I guess a lot more will die then, based on your comments.
    1 Jan, 11:10 AM Reply Like
  • Andy1948
    , contributor
    Comments (8) | Send Message
     
    Everyone is hung up on getting health insurance. My view is keeping of healthcare. Without payroll deduction many insured will lapse for non payment of premiums. The payroll advance folks are going to win
    1 Jan, 11:57 AM Reply Like
  • TAS
    , contributor
    Comments (1889) | Send Message
     
    I would love to be on the other side of security transactions with Jake.

     

    I've dreamed of making easy money from an ideologue.......
    1 Jan, 12:01 PM Reply Like
  • DeepValueLover
    , contributor
    Comments (7771) | Send Message
     
    Yes, Jake2992, people who oppose Obama's terrible law just want to see people die.

     

    Very mature argument right there.
    1 Jan, 01:22 PM Reply Like
  • justaminute
    , contributor
    Comments (581) | Send Message
     
    I would be surprised if 10% of those "signed up" have or ever will pay anything.
    1 Jan, 04:17 PM Reply Like
  • 1980XLS
    , contributor
    Comments (3310) | Send Message
     
    Can they use their EBT to pay?
    1 Jan, 04:21 PM Reply Like
  • Dan983
    , contributor
    Comments (2) | Send Message
     
    Why destroy the main ship to add an additional compartment? It's all about govt control and additional profits for the remaining utilities (MCOs)
    2 Jan, 10:47 PM Reply Like
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