Seeking Alpha

Some new healthcare rules kick in today, extending benefits to millions of Americans and putting...

Some new healthcare rules kick in today, extending benefits to millions of Americans and putting an end to lifetime payment caps. Insurance companies blame the new requirements for a sharp spike in premiums, and several carriers have already said they will end child-only health policies. For insurers, it's like "the Manhattan Project because of the scale and scope" of the changes.
From other sites
Comments (7)
  • Carlos Lam
    , contributor
    Comments (1306) | Send Message
    If my sons need to be on my healthcare plan at age 26, they need a swift kick in the butt.
    23 Sep 2010, 10:39 AM Reply Like
  • OptionManiac
    , contributor
    Comments (3450) | Send Message
    You obviously don't know what's going on out there. True, catastrophic can be had for around $75 a month, but they cut you off after 6 months. With companies hiring temps instead of fulltime workers, 6 months just doesn't cut it. My belief is that healthcare should be portable, so your sons have the freedom to pick the employer they want, not the one that will offer healthcare along with a sucky job.
    23 Sep 2010, 10:54 AM Reply Like
  • Carlos Lam
    , contributor
    Comments (1306) | Send Message
    I agree that healthcare should be portable. The solution, though, is for the state to become LESS involved, not more. It was the feds (thru WW2 wage & price controls) that created the tie between health insurance & employment. Their increased meddling--instead of distancing--can do nothing but create further problems down the line.
    23 Sep 2010, 11:02 AM Reply Like
  • OptionManiac
    , contributor
    Comments (3450) | Send Message
    You are right. NPR had a great program about that. The whole system is flawed because consumers have no reason to shop around for the best deals on healthcare. Hospitals first offered healthcare to Texas (young) school teachers for next to nothing, it was a source of income for them. Hospitals at that time were just a place for the poor and old to die. True, during WW2, wages were set by the government so healthcare was another incentive to snag workers.
    My daughter changed jobs and had to get catastrophic between the lag times, but it would not cover any problem caused by her asthma. I no the chances were next to nil, but bankruptcy due to health bills was lurking out there. Having portable healthcare gives us more freedom.
    23 Sep 2010, 11:25 AM Reply Like
  • Bozerdog
    , contributor
    Comments (464) | Send Message
    There is always some reason for them to raise premiums.
    23 Sep 2010, 10:50 AM Reply Like
  • Glocks-n-Gold
    , contributor
    Comments (203) | Send Message
    If you really wanted to make insurance more affordable/competitive you certainly don't need a 2500 page (or whatever) bill to do it. On probably no more than half a dozen pages allow the following:
    1. Full deductibility of premiums paid.
    2. Increase the deductibility of unreimbursed expenses from 7.5% of AGI to something closer to 50-75%.
    3. Allow neighborhoods and or membership organizations (NRA, AARP, AAA whatever) to purchase a group policy for it's members - really, how different is that from any employer?
    4. Don't mandate any particular type of coverage but instead allow a fully a la carte choice system. Maybe you want accupuncture and I think it's crap. Don't force me to subsidize your choice.


    Of course if your true aim is merely to centralize control and power into those who view themselves as the elites, then by all means continue with Obamacare.
    23 Sep 2010, 01:41 PM Reply Like
  • Duude
    , contributor
    Comments (3401) | Send Message
    The insurance industry is based on the law of large numbers. Its this law that makes it possible to spread the risk of a high level of use subset to be offset by a very large number of members of the group that aren't seeking healthcare assistance at the current time. All people aren't required to have insurance till 2014. By introducing laws that expand coverage regarding such things as no more lifetime caps without requiring all people to be covered, insurance companies have NO other choice but to raise premiums so as to cover the extra anticipated expense. So if you're wondering who is bringing us these higher premiums, consider the facts.
    23 Sep 2010, 01:42 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs