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Think Tank 1010am Obama Care Rate Hikes

Jun 7, 2016|

We’re not sure we can afford to train Louisiana’s medical residents and now insurers want Obamacare rate hikes.  How do we get more money when we have less money? This hours guest: Jim Donelon - Insurance Commissioner Gabe Janusa - President , Demand Insurance & Benefits

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Automatically Generated Transcript (may not be 100% accurate)

About politics rove knew of course trump then Clinton. Being a good player of the Warner and and you know I've I've never paid attention to politics. Until. I got that show off. And details you did the primaries. And how the wrong in the dirt from groups. Totally confusing and and to me. Mix of those of bugs who were not pictured should lose faith in the products. And I thought were we gonna have to have Hillary Clinton. Where in California encumbered closed while bin bin being declared the winner big bonds. Share of the delegate super Gelman she needed board Chu was the Clinton with a book associate purports shall we in front regular or not. And to blunt for competency you have finally did sticking point. Some of his criticism. Which usually goes where you a couple of days has not god in his. Its own party not should be jewel he has his parting. But people that will probably vote for now I'm starting to coincide. So we'll talk about that in the 12 o'clock hour. Talking about not quite as they would remember first legislative session over a billion dollar deficit they have that. Men there said well we've we've got a summary hundred million dollar government that second session. Now we have third search and they're talking about 600 million dollar deficit and so try to figure out exactly. What's happening to the deficit. And exactly. What's gonna happen well might happen in this hopefully elect that session this year. And here's another confusing when two million insurers. Around the country it's sinking obamacare raids like. We're got Texas. Make him requires them to 60%. Same thing. North Carolina and in the end it and everything ridge says these rate increases. Or expect to roll across most of the country. And me until we get in part reader wrote a play. Louisiana's largest. Insurer wants a rate increase could be as much as 30%. Average. In the vision when they get down into the guts of the for a fund stores that I have on this wild. The the government says steak all of this with a grain of salt the federal government. And and talks about Joe's Kurds are talking about. Double digit rate filings. Doesn't mean you're gonna see global they'd rate increases. So we needed somebody in Novo entered talked about. Had to be insurance commissioner Jim and on Jim thank you for calling in because there hadn't the flu have been about a five minute show. Well I appreciate the opportunity actually Garland businesses. Nearing crisis level I don't want them. Followed the sky is falling. But but but it is getting to be. Quite. It's scary problem from a consumer point of view from a market overall point of view for the future of healthcare in America no question. Okay with a bomb here of pop under stay in Crooklyn. Not real people and rolling the ones at all oral or sector. And and more expensive. And I and Todd beard thing is the federal government. Has failed in their agreement. To help cover the cost of market risk as they increase. Is that fairly correct. Absolutely I would agree with all Korea. Betrayed by policy oh uninsured. Populations has not been what was Cold War. The cause is greater. What was predicted the the Cadillac. Coverage that was mandated by the affordable care those old. High deductible policies. That though we we call them and in the regulatory. Arena. Transition policies so that. We're no longer qualified health play head to head Google way war extended one year than two bit and Marie. But now completely gone away. Great great Cain with higher deductibles live with lifetime limits. With underwriting considerations. That there. Of the affordable care active eliminated. Of those high deductibles are gone away like limits and we now have the most expensive football. Guaranteed issue. Meaning that everybody in this sector as well that'll be all in the same book it. And the price of the cost is spread across the entire population. Ed in the new folks said it all week now. Over 200000. People accessing insurance through the marketplace. 90% of whom. All our receiving. Subsidies based on their Inco which covers about 80%. Of the cost of their health insurance those books were uninsured. Previously. And as a result we're typically not as shall be as the general population. And then not have this BK did. In accessing here they don't have primary care positions they. Indigo to emergency rooms to get there. Their treatment of Bagram. An apprentice so well but decided it would below an emergency room but an acute ships col or or chest pains that. That all the laws could be treated more more efficiently more more effectively. Cruelly primary care position. And in. Emergency problems and cost a whole lot bowl as a result. All right it is doing this torrent getting a little confused would show. In April oh UnitedHealth. Group I think the largest century in the country. To have so I'd pull out there Obama appeared and said well that's a figure we didn't show Obama and I think it was solely about. 29000. People here and we. Now we hear that weasels or Jews helped ensure it is asking for double digit rate hikes. The increases due out of that people who get health insurance through and four year. Wore those shielded by government subsidies. If they get through the federal marketplace and consequently the only ones affected small business owners and self employed. It is is that 2141000. People. That is to order 141000 people in your pretty close to correct about ten out of our State's population. Get even the insured through what's called he ripped supplier and it goes and we are creek preempted from regulating their that they tend to be a lawyer for bothered lord's group. Plants they can be self insured or what they can be fully insured plans but perhaps the hurt population. In our state or. In trip to it was a planned they're not affected by the rate increases but the older. Small group and individuals. Or seeing double digit rate increases you you mentioned united elk here. They actually poll doubt not just from the exchange. But from our in our. Individual insurance marketplace. It was a big it to a market which has been non competitive. For years and years. Lacroix says 70%. Of our individual market share. Our united the second largest piece at about 10%. Of our market should. They gain well those about a month ago and insert we're pulling out not only on the huge change. But on the individual market it will Louisiana. As well as three dozen other states. Because of our losses we lost their being million dollars on how will we see inaudible last year commissioner and that was despite the fact. That the market. Statewide. Took a bit being up 14% rate. Increase way this year or in the individual market after rate 15% rate increased. The year before. And they indicated rate increase would next year from all the filings that had been made by the first of this book. He is or eight point 7%. Overall rate increase for individual policies. State why now port that you also mentioned go 200000. Watts. Newt newly insured. Accessing insurance through the marketplace. Created by the Affordable Care Act. Day or fuel that promote rate increases by the 90%. While the cost I'm sorry 80% of the caught. Well there health insurance premium is subsidized by the federal government under the provisions of the affordable care. All right lunatic debris secured Jim don't go to word to June of ten minute choose so. If you're out there thinking on the small business. And so often people did Marbury could be goal of 27%. We've got to gentleman talked to Gibbs called to its exit row 170. W all right nothing so before we head. Concluded Vera plot and federal volunteers drug major problems all over the country number of states seeking a two was 6%. Increase. And there are calls. Here Louisiana and it looks like it's round 27%. And those good to be affected the most I think understand these small business owners and self important. Who ruled good bear the brunt of these reasons break Jim Donald as. Of course our insurance commissioner here Luby's you know Johjima and regional and trio pulled out of report that night it's. You do girl and surely an apartment surely qualifies something you're just throughout you'll lose or close to accurate. 27%. In the indicated rate increase in Louisiana. But individual policies. Those 60%. Rates from other states also all individual policies. All on the small groups side we're looking and this is scary as well. 9% rate increase but that a small group market which is generally employer Rabat. Individual issue generally individual. Access. But the employer provided it's generally the small group market and it's. Slaying this year not present projected increases the last two years it's been relatively. Modest with Korean War present rate increases. The past two years unlike. Individual market that went out there being percent each year for the band puke in his indicating when he says. But the next report that may. That all led to a bird we breeder would get about the incorrect information. And people brilliant stay under. Boom for the current I get to thing there was to read that I'm and met to bring the super. This is in this scenario pulled up the program obamacare. Was designed to take money raw meat insurers. That are doing well. And given to struggling insurers. And in practice that program. Has taken four lives money. Then that which has been requested out of it. Congress this year blocked the federal government from shifting other funds to make payments. A number one is that correct in number to explain this a little bit better to me. Sure. Absolutely. It is correct and it was what they called the risk or doors. Eight we insurance program. That was gonna take on those were being profitable. After the implementation of the affordable care and give to those who were being on prop. In Louisiana for example blue cross. And HMO. And they have an intro or product each about the equal sides. Go figure out what was very profitable for the first couple years the other was very unprofitable. So that. Money would theoretically be paid by one clay and all work studios all wait to the other plan. The overall national program ran what shore. Of the money necessary to make the payment to. To those who were losing money in congress. Put the brakes on any purpose in being. Going into that program. There and that read go risk court repayments have not been forthcoming as a result. All right here's here's abortive pro and in this study who has sided sentenced. Most individual customers in Louisiana can take the proposed rate hikes that you and hard talking about. With a grain of salt. It's verb with me here being good. 89%. Of the 2141000. People we talked about it begin to show. Porn role in the plan through the federal marketplace. All of boy had four income based government subsidies. And what the US department of health and human shirts is ports. Isn't in Peru and they had rules surge paper reminding customers that bridge pilings loan. Did not print actually to hire. Out of pocket cause. And they pointed. Double digit rate increases last year. Turkey average net premiums. Are up only four dollars over a year. That got complicated but it sounds like there are saying individuals don't worry that this shouldn't get her law. Well there correct. For those who are being subsidized. Those 2141000. That we mentioned earlier who are getting their current through the marketplace. Not only preserve where. Or receiving subsidies the average premium of those books. It's 448. Dollars per year but the average subsidy 80% of the caught. Is Korean 62 so they're only out of pocket right now. 86 dollars in a 30% increase would be non. Increase for those folks unfortunately. Though the rest of the population that buying. Individual policies not the marketplace. Not subsidized. And even that 10% or in the marketplace so. One in 1000. Who are buying their cupboard. All in the marketplace but don't qualify for a subsidy there and receive the whole 30% rate in court. Unfortunately were allotted time boom we got about thirty sergeants didn't give me just an idea what you think who's gonna happen. This isn't sustainable that is an. It is not sustainable and in fairness to those who promoted it. Greek choir fired to a portable peer system was not sustainable it desperately needs to be reformed this would work out an update. In my opinion whoever wins the next presidential election will go back. Into this area are very challenging very difficult though problem that multiple presidents all the but never were able to occur mean it in a meaningful way. Hopefully the next president will be able to do that it's gonna take a true bipartisan. Effort to make that happen. Yeah where have good luck to follow them out went Jim O'Donnell and it was always thank you were given at that time and have a good. Thank you sir. Are covered objects. We won't load talked to president of demand and insurance and benefits. Sure you bumps. When you look at the headlines seemed like grub barreling Euro simple story Obama entered sick. We Jim insurers among them seeking obamacare bridge high fixed. But when you get into the the god sort of throw multiple report should fund that. It's not jostled museum it's taxes North Carolina. Bunch of individual states indeed their percentage. Of the double digit increases. Are all we have to 60%. But it says but these or individual. Plants. Then you get further into the story and it says actually. If you get your insurance through an employer no problem. If you got your insurance through the federal marketplace. No problem the problem is small businesses self employed and who bear the brunt of rising rate of just said Jim Dolan on. They're prongs that can be used he'd said Boyle 27%. Increase in Louisiana but that's for individual rates. And quite a bit smaller UP get yours through these small business owner. So hold it's. Should we spoke to Jim Dolan who is good that we gave drew new set. Up president of demand insurance and benefits daybook into the show. Probably my high school education is showing. Honestly that this article type in one of the best written articles about the steps that have that you read and talked to didn't quite some time it really just milk. Every little piece a what's really going on in the industry and how people are going to be impacted. And at the end of the day. You know they always think things are better taxes but actually not the case anymore and I was. So you know Louisiana getting that ratings reach for. Should point on the 30%. That the rest of forty year. So I mean it's ugly but like the article pointed out the people that receive subsidies but not to be impacted that much but the people that we deal. And to be clear that people that will of the people that are not receive and so it may edit individual plan not a small group plan. I'll probably encourage people that they do have an individual policy. And they do also on small business to be wanna do yourself a favor in May be partly your key employees a favor. You don't want to look at may be migrated to a group policy in order afraid that twentieth 30% from the bottom line. Because they did get a little ridiculous here. Or did that for a doomed conclude compute with the individual policies. Itself. Louisiana's largest health insurer is among the group printing for double digit rate hikes on individual policy. And then it's as proposed three dollar a pecked. Many of the more than 214. Thousand residents. Who got their coverage through the federal more could pull. It is it is federal marketplace individual polyps it's. Yes bill the people that bought individual plan. Through the marketplace. You know ancient individual help plan the same plant of people by. On the exchange they can also buy direct to the insurance carry themselves exactly input and only reason people go to the exchange. For the most part is to get that tax credits that. They midfield before. When that Toro was confused who's in the article or more in the bin New York. It says the increases. Don't put people they get through and assurance that rule and importer. And no homes in Louisiana's shielded by government sought to that he. For insurance purchased through federal marketplace actions are not affected. It isn't it seems contradictory. There. Well I think people need to an explanation of you know who actually impact in May be some numbers Ole bull. You know help. He's that is standing still right now people that and they plan through the marketplace in their incomes are between 104%. Of the popular level. And there are not offered a plan to their employer that affordable than electing went to the marketplace and bought an individual plan. To those people that are receiving subsidized. Amounts from any chance Kayla there's so we don't directed insurance carrier from the federal government so yet. The their retail cautioning this thing goes that maybe 4050%. But the subsidies will likely increase. Is well for the next year's enrollment. So that's what this thing the did net cost to the people that are receiving subsidies. Aren't aren't gonna change but much. But the people that make it more than 4% of the popular that for example the not a single made it maybe make it more than 47005. Arm but. Or Stanley war work might make more than roughly 97000 now there's not receipt of those tax credits to reduce that cost. So they're kind of feel the full brunt of that two point at 30% rate hikes. And those people that are really being punished the other thing that this article definitely talk about is that we do at that Medicaid expansion that's going on right now. So the people that up front. No income to 138 of the poverty level and mechanic needed some ideas. But what those numbers it's from within the felt so high that had a house built from there two roughly 161003. And nine at putt out for the whole year per palpable one. Or Stanley forwarding portion zero to 33000. 534 dollars it they're between 1964. Then there aren't they can enroll in Medicaid. So I believe that some of these insurance gave it to don't allow the risk. May actually lose some of that and I read as it did you know. Does exist within this population. Because these two will be shifted to the Medicaid system. Or limb and literally take a break your mom would come back. Let me pick it up bone medicated because if that occurs does that mean. Those reached their being raised will be lower. To reflect. That your office. What do you think June ginger one to beat somebody incumbent right back. Looks elect Obama cares and trouble around comforted Texans North Carolina Indiana. Louisiana big insurance companies need the backing out of Obama Carol go there or requesting double digit increases for individual. Polyps. Wrote the review would gave drew Newsome president demands insurance and benefits. And debuted just mentioned Medicaid. Looks like Louisa who's gonna get involved. He would if we do and and we do with the video obviously it's. Will that Laura b.'s proposed double digit increases for individual pol whose. The Donald thinks and that's by questions directly churn areas but the parties to recover from the losses that there already incurred. And that the main issue that think that you really revolving door with this whole program is that this record or programs not working. He get congress that you know doesn't want to funded. I debate via a system where. Yet but health plans or the actual medical claims exceeded expectations but more than 3% that the government was gonna reimburse half of those losses. And the claims the past expect a patient by more than 8%. Then they gamble pay 80% of those losses so that the all these picture of Garrett to counting on these future reimbursement to take on all these new risks. But they never got he's. For that additional risk they took on so they get this on the money somewhere and all think the people that are going to be fall off. The health insurance plan debate and move to Medicaid it's gonna see these insurance companies about a money that they thought. That it would save them. Epic that truly an active at any impact at all on the rated Johnson that the requesting here. Veteran group you know be neutral when liberal wishers have. Grown please ask what that is the income blind for a family of five to receive Medicaid that do you know. Sure it is. The it's from zero to 33 I'm sorry zero to 39240. Tells. They can get to a healthy dot annaly. And they could see the chart in the in the mother. Items that you have to qualify support or to qualify. But that these don't do that let's say. Our group or run out of time Greg may upon all but. We didn't have been. Problems with the escalating health care costs for decades as Susan. Joseph assumed to Obama cares burn and play each. I I have quoted the number on the show new vulnerable time and if you live to 65 years old today. Drabs lifespan for a male. 8486. Poor women. And 101000. People who are turning 65 per day. For the next 1415. Years the baby boomers hitting 65. Insert any kind of health insurance plan. That's gonna handle. Any huge increase in elderly book called the health problems they bring them. Well I think that's why we have that the Medicare program Medicare Advantage program that they can go on to annually and that did take care of that that whole population. And it also for the people that. I don't want to statement Medicare Advantage plan that you know it go to Medicare itself planned. When they can maybe get nationwide coverage on these via a provider that takes Medicare. Then they should be good to go but you know. Medicare as a whole the can't alarms and you know which is likely unfunded mean you'd see that. Needed national debt that worry and the heavily on on the claims liabilities that Medicare. It issued two orders and so Ingram. Period we will do fallen troops hopefully you'll each do some more your valuable time have a good day appreciated the call. Come through right actually weather's tub and DO. Or are you ready. Jaguar opinion poll that sour Alps. If you're insurance premiums went up between one in 30% could use soap or to be insured. Eighty B 1%. Say absolutely not. I'm sure as a bully you done. On increasing. Costs for services. In the country in the state in the perished in this city. Kim we report all increases I guess we're gonna find out. We're gonna talk about the Euro legislative session. But. That may be raising your taxes. And ordered him pay all our deficit. Stable that's double a bureau.