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Think Tank 1010am Obamacare

Jul 19, 2016|

Obamacare really is providing more people insurance, but the major insurance companies are quitting the system.  How does Obamacare survive without insurance companies? This hours guest: Sally Pipes - President & CEO, Pacific Research Institute Mike Tanner - Senior Fellow with the Cato Institute (with a particular emphasis on healthcare, social welfare, & Social Security policy

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Automatically Generated Transcript (may not be 100% accurate)

Busy day in the old think Franco will talk about the Republican Convention of course end. Outside the convention. Cleveland. Were conventions being held a low weapons to be carried in the open. So over the backers of trumps of the regular Kong where the growth tribal shall protests in groups and big player and or people in upload protests and groups. Syria build do the same won't won't talk to the probes and constancy of that idea. Among Arab read from the Cuba. So they don't and by whipped Greg called Politico we're talking about Obama gear. And it says. It is sinking. As millions get covered doesn't of the insurers that the health care law depends on. Or losing money and even abandoning. This system. And they even important to well you know what let me give. And did that. Poured the study. Part in the report itself imply presidency you'll said the search institute. So it's always great to hear. You. Are at Lipton with the title that so Obama Cairns syncing. Is it. Definitely it is yes it by that what he says I don't know if you read out last week but he had. I'll be an eight page. Piece written on how obamacare is working so well and certainly called for. You know introducing the public option to be Affordable Care Act. Which of course never made it into the final bill and machine particularly. Am back in in 2010 but that would mean. Putting government insurance company into the Affordable Care Act which would compete with private insurers. So here we are. Obamacare not working so that that more socialization. Socialism to the American health care system toward a path to take it over I believe. Where I get a little confuse it says it's the place where the big answered says some ball. Or bond yours truly lived up to its promise. North Carolina. Get 600000. Live bullets on dubbed nine. 30%. In the past years. Good. The the main group United Healthcare the nation's largest insurance company and says. Well we've we can't take that we're getting out of this later in the article. Well it wasn't united of whose blue cross blue shield of North Carolina. They've dominated the individual market. They lost about 400. Million. And later on we article there is saying. They have submitted Clinton should do business begin in every county in the state. I get confused at its. If it's sinking of resolve working if they lost 400 million. Why do the one we keyboard. Except they mean is that one of that they think that it's come to light is that failure the number the insurance companies that participated in the exchanges. I'm finding that they had huge losses and united. Of course last year lost 700 million dollars on their exchange plans they're opting out at 34 states including. North Carolina. Where it they get into that market they had a huge share but because they've they've brought so much money they're pulling out of North Carolina. Up blue cross blue shield that is deadlocked. You know 400 million other exchange plans when he 142015. Unclear you know whether the current state in northern not but a lot of a lot of the big the big companies the blues Humana is is getting over the number app. States and in some states. A car and there will only be in 20171. Insurance plan remember the president promised everybody that there would be a lot of competition which would reduce. Prices are you have only one plant in exchange in this state there won't be a lot of a lot of competition and of course we're seeing you know these applications for a number of the insurers. Two to merge with like Aetna. And Humana. And that the clock ticking over Cigna. Centene taking over US health so when you have more and more consolidation in the industry you don't get more competition and prices do not go down. Prices go up so these are some of the really key factors. In why obamacare is quote. I know this but I can't remember. Homered stunned do you Obama have in office. Well he has until it's out it's really form on until election at Denny's been in office until January. I went in January when the patent went into administration this morning that it January 20. OK so about Augmon. I have of the insurers nation walk. Have lost two point seven viewed it in two 2014. Loan. 70% of the terrorists are staying waltzes. Preliminary. Data from 2015. Suggests raider losses like lead double. What happens in this collapses programs I mean. 70%. Are curious is claiming losses. Two point seven billion losses look like they're gonna double. What what happens them. Well I mean is this just goes to show that deal with nobody is no insurers are providing coverage. I'm in the exchanges exchanges are going to come to full the other thing it's important to note is. Don't remember obamacare allowed near under entity. And Affordable Care Act to creation of these co op these cooperatives. And 23 co opt for setup which has spoke to provide more competition and even cheaper prices. Then plans in the exchange as well sixteen of the 23 have now failed. And up the seven left effects are on the verge of financial collapse so you're saying the collapse failing you're seeing the insurers. Pulling out of the markets and the other point is that because that the losses in the applications for coverage. For premium increases by the insurers on average across all states are 2017. Are going to be up. They add the applications are asking for premium increases of 20%. This did not. You know outlet but the president promised us but because these companies are losing so much money in order to stay in business. Because that young healthy people not NASCAR but the people like 18 to 31 am did not sign up for coverage as the administration had hoped. The people who did China are older and sicker and using a lot of health care against the insurance companies actuary. You know. Weren't able to you know predict what what they thought but they thought that they use would be. They just wanted to increase the number of people on their innate in you know taking out coverage but anyways it was spinning it's been a huge. I'm disaster and so that's why. I think with all of this you know deep debt the obamacare is going to. It's going to implode under its own weight and that's what people like Hillary it's campaigning. Following on what Bernie Sanders and his campaign you know he really wants Medicare for all single Payer but she's really body into a lot of his ideas. A then Olympic break here. What outcome baca a word as to question. Will Obama have been a little over five months still in office. This this article with Jews political and not known to be conservative. Publication. Says this is his right on the verge of becoming a crisis in the does. Of congress have to work together. Have pats this up so people don't go without coverage. Coming right back what do you think portions Gibbs called. Two to 017. Text itself needs them. All right your Warburg thing good about obamacare. Have some laws the insurers that les from working in a problem here are providing the insurance. That was two point seven billion dollars. On loan in Tupelo is important to move for some figures. And 70% of the carrier Rogers sustaining losses. Preliminary data from 2000 pimping suggests the rate of losses like Lee will double. And this article would she uses to have a lot of dough ball information in it doesn't seem to lean. Right and left says this is on the verge of becoming a crisis. Whatever talk about all of our help cure are usually called selling by presidents who you are subject to search institute. Of Sally the question schalken club who took bring. It this is on the verge of collapse and Obama is that five month books Linda in office. Would congress have to get together in pacts this thing together keep him from collapse. Well I think the important thing is if nothing is probably gonna happen in in Washington now because everybody's been election vote the convention that thinks so. Most people I mean most people I must say don't pay their premiums that have coverage under obamacare or privately or through their employer. Covered until the end of the year. We will know what that rates are going to be for 2017 that we afford the election are calling it a November surprise but basically you know. They're real issue will be what happens in the election and what happens. You know in January when the new administration comes in and it depends who it is that Hillary. Is she going to see that build on obamacare. Obamacare 2.0 app that. That public option and really taking it I think down a path to single Payer. I'm Donald Trump within the elected the election becomes the president he's at he's going to repeal and replace. I'm obamacare the GOP Adam if you saw this morning. Had come out with what their plan yet and it doesn't include a couple that really bad things that Donald Trump wants like nick I'm the government negotiating drug crisis. And drug importation. But anyway they have their plan has come out in the conventional vote on it but the real issue will be what happened in January when. When I went when there isn't. Okay. Give me an idea of the Republican plan finally you know pearl all the years have beach congresswoman heats and it's a double play and woods they did not odd. They had planned of the role and finally all wrong and play and give me just the general idea. With the Republican plan. How would this beat it. Too many old people. In the system. Not an of young people who paid for hotter as the Republican plan and excellent. Well I mean it. This so called planet you know cumulative planet he promised the house plan for. The Republican Convention at a plant it's not a legislative. He ended there's no dollar figures. But you know and so now the rock the Ryan's plan is basically in the Republican health policy platform that came out yesterday the. Can only okay to leave the platform how to platform. Handles. People tool too many of them too few young people to pay. Well so one of the big issues in the plan which I'm very excited about it Paul Ryan's idea premiums so that premium support model. So that people under 55 wood be able to get an income attempt to contribution toward the plan at their place. This would mean that you know not everybody 65 and over would would be eligible to join. Medicare will bring some competition into this system I want them to also include raising the age. Starting at age 67 because people are working a lot longer that's not included. And the plan that this will definitely. Brings some sort of levity to Medicare inside countries are recently met the Medicare trustees came out that part age. Hospital plan part of Medicare is on the verge now of going bankrupt a lot earlier than they thought probably by. You know 20/20. Eight and so they have to make some changes otherwise you know that Medicare was designed to help. You know aren't our seniors have coverage of both seniors who can afford their own corporate should be able to and Medicare should be there for those seniors who really are. In a difficult financial situation. Unlike. The Republicans can get that as it goes I'm Sidney year. In a very roots thing very conservative actually in every time we've done issues on health care Longo problem here. And we've had people like Kate boobs are in smog pollution conservative or liberal. Call longer and simple woman thing you got to do is change the metrics. You got to raise the age of people that called off. The lines light of the tanks going crazy how Republicans are gonna get that back. Well I mean that they do it it's gonna very much depends who becomes the president that it Hillary becomes the president there will be no changes she wants to add. People at age 55 to people agency thought it would join Medicare but certainly if Donald Trump becomes the president if the Republicans hold the the congress the house and the senate and I think there definitely is. You know. Room for these these ideas to pass spike and Mike Warren Buffett be eligible for Medicare he can you know by the Mayo Clinic people on it it's. Are that. Got about a minute. The approach becomes president to implement the Republican platform plan or the one of his old. Well we have to have any Democrats bowed with a. Well I guess that depends you know on how the make up of the house. And the senate you know I mean. No words that they don't control the house and senate and via competitive area that you don't have to. And Republicans have kicked Republicans. Are all for his forward team with the. It said. That really unraveling an onion and garlic it's a little kid. All we have pledged rose learned so to me come on thank you so much apple good. They and what do you think she said. Well if it collapse now that'd you'd probably won't number one bullet. If it does general both parties are at their convention preparing for the Bundchen so we wouldn't be there. Which suggests. That. If they weren't there the word together that well the problem. All all all better than Saturday Night Live W bill is is notre. About good article and political pretty good detail report to a headlong into those obamacare. Sinking safety net. And it says is millions get covered dozens of the insurers and health care law depends on who zoom in the in the bay and in this system and over quickly. It goes some North Carolina Edwards says it's Woodward weren't the very best. 600000. People signed up 90%. Of the income. Financial help. North Carolina ended. Insurance. Costs plummeted by 30% in the past three years. The insurance company to Bakken mug United Healthcare blue cross shield blue shield of North Carolina. Born and losing 400 million of them and losing. 700. Million. Another one once the height the reached nearly 25%. Or order a founding interest in blue cross blue shield of North Carolina. But lost 400 million. And their goal and to petition. To get in and to lose who lived reviewed correctly and submitted plans to bruises again in every county in the state. And their resume active very confused uncle Mike Cameron thank goodness the majority of the time he answers senior fellow. Catering sued ads and emphasis on the health here switch with social security policy might always appreciated. Like always a pleasure to be with you. Well we don't confuse. The served are all dying in there all go away. Board one of the many wounds. Is petitioning Tuesday. Well it is very much a mixed bag it. Point there's certainly are on an insurance companies that aren't leaving the market because they have found the that he. Are losing money. We noting UnitedHealth which is one of the biggest insurers that nation has basically going to pull out at all the obamacare exchange. In the next couple of years. Now that won't happen effect Donald some states where there about a big player but a state like Nevada for example what about third or more of the market. That's going to be a big deal. A little bit out half the counties in the United States now have only one obamacare aren't sure offer implants. Orbit areas and places like battered and have much more but now rural communities it it's going to be a problem. So when you say it's a mixed bag. In California Washington seemed to be doing. Very well and I want human pursuits of mixed bag there or all of Zurich insurance companies. Better still doesn't still providing insurance. Oh boy kid you know I knew board can't blue cross wide can't do the big ones. Look at the war and death or surviving. And simply do what they do. One summit to. Did to what degree it has to do with the church period we know that some states for example Minnesota. Huge double digit insurance premium hike and that has been able to keep the insurance business and other states. Woody church regulatory. They're compliant situation that has to hold down. The premium the insurance companies or losing money. Well there was Bennett studied the issue would then insurance company needs did make a they're up about 80%. In cream of what it takes or in benefit of what it takes an opinion took all the medical loss ratio what you want about 80% margin there. But nobody insurers are Opel were out of respect they're paying out more benefits now that the taking an in premiums and you can go on do. And again. This article makes its own dirge surges and visual word insurers. Laws were born seven billion not own individual customers just in 2004. Team. And 7% of big carriers or sustain waltzes. Preliminary data from 2000 to obtained suggest the roots of losses or going to double. Obama's got a little. More than five months plots Lipton offers. And that's all stay glued together in that talent. But I think it'll last for a awhile longer report has to be dealt with but it does raise the risk of what people refer to it and adverse selection death spiral. And that's the problem that the people most likely to sign up for obamacare are older and sicker. They're the people who are most costly despite the mandate in the penalties that go with that young and healthy people are still basically not signing up toward Chara to. And torture and company they need those young healthy people don't cost anything who pay premiums but don't make planes. Also apple ought to state suffer from people world recoup make a lot of clay. That not happening in that flight insurance companies losing money. During introducing Mike don't go way too big break TB and all of ten minutes your double BO. Gibbs called who's in Euro. Team settling. Good thing get a better president detailed article that claimed oh obamacare it's it in the lobby of the insurance companies are sick or. Dropping like flies according to article does screwed beat column crisis. Sizzle the problems are insurmountable. But they have to be addicts in the news or at. Very easily obamacare good gored to death spiral. And I have might tender will be with Doug Kaye who specializes. In the health care. Mike you're going to come on the short worried about her held so I probably shouldn't read do you could them rate you would die laughing. And a hundred tried it and work the talk to groups that. The repair draw the can be very complicated has not revealed. It requires a bipartisan. Decision. To save the market. It I yeah yeah it's done that the dogs bipartisanship but watching. Did the outward record it that anytime soon I don't know if you've been watching via the president or thought it'd. It in alternate that it isn't going to require major changes that are not something where you can go in and tweak something here and there. Defeated that it takes to pick up significant rewriting a law. And even two weeks are not something that washing deployed to do right now the problem is Democrats are absolutely committed committed. To uphold the President Obama legacy that making sure that not a single war law changes. And Republicans. It's stopping opened up they'll immediately seek the repeal so you're not getting any effort at all to actually make changes to the law. Or Michael we've we've got to build the wall we gonna keep them zooms. How would you do that if the little Democrats don't agree with apps. Well that price going to be there is monitored him. Rod that it and knows the fact that tiger at the main thing public opinion the way just think big and that applies very unfortunate that we're having campaign slogans like. And Amon repeal and replace obamacare would why it's still the question. One final court should give understand correctly in the bigs and problem here to mingle people. Too few young people to pay you for the old people how you fix. Let them very good question and you have to worry a lot about the rising premiums because what happened visit the spot it was with a premium of more expensive. For young people or help the it began to make more important to just pay the penalty rather than buying insurance. The prize what people worried about is that young and healthy people are priced out of the market table simply abandoned the insurance market altogether. And that lead nobody put the old stick in here and the whole system really does come crashing down. Michael Moore and bill and call you were gonna talk about how bright sunshine. Is and he. Weather is beautiful and everything is hunky dory. And Michael always. Players thank you time appreciate it. Stable does food come right back we called the think tank Garland Robinette with the old choosing one its celebrity you hear those who will kinda worry about your health care. Aides have read some of lead tech it's WW. Bulletins and bigger book of them can Obama yours is making. Money. Where is that only government says billions of dollars and and billions more mountains usable policies. Hopkins. And the public be bleeding out all the public is bleeding out. Helped here in this country is very very expensive. And it. When the program is you have and elderly people. An omelet smaller group of young people when you're saying to the young people we need Jude played for the older people. Just commonsensical. From board. Our parents the odd time of the 1000 dollar and they followed Ku and contents. The gold at this hour get ready is Bain. And no. Busan boy. Eighty in that text beat any gym now. To seventy to 8172881. Your book a thousand votes cast action little for the next code word for the top or news 2 PM good luck. Everybody cured Entercom all of them said rubio. We do not charge were tagged good individual plan Texan did rich hoopla but is he tees. No text and draw.