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By Michael Snyder
November 17, 2014
Did you know that some Americans are being hit with health insurance rate increases of more than 500 percent? Taking advantage of “the stupidity of the American voter”, the Democrats succeeded in ramming through one of the worst pieces of legislation that has ever come before Congress. The full implementation of Obamacare has been repeatedly delayed, but now we are finally starting to see the true horror of this terrible law. Thanks to Obamacare, millions of American families are losing health plans that they were very happy with, health insurance rates are skyrocketing, millions of workers are having their full-time hours cut back to part-time hours, rural hospitals all over the country are dying, and thousands of doctors are being driven out of the industry thus intensifying the greatest doctor shortage in U.S. history. Obamacare is a slow-motion train wreck of epic proportions, and the full effect of this law is only beginning to be felt. In the end, the economic impact of this law will likely be measured in the trillions of dollars.
One of the primary reasons why Democrats experienced so much pain during the recent elections was because millions of Americans are receiving some very disturbing letters from their health insurance providers. At a time when U.S. incomes are stagnating, health insurance rates are rising to absolutely ridiculous levels.
As the New York Times recently reported, even the Obama administration is admitting that “substantial price increases” are on the way…
The Obama administration on Friday unveiled data showing that many Americans with health insurance bought under the Affordable Care Act could face substantial price increases next year — in some casesas much as 20 percent — unless they switch plans.
The data became available just hours before the health insurance marketplace was to open to buyers seeking insurance for 2015.
An analysis of the data by The New York Times suggests that although consumers will often be able to find new health plans with prices comparable to those they now pay, the situation varies greatly from state to state and even among counties in the same state.
Originally, Barack Obama promised that if we liked our current health plans that we could keep them. Well, it turns out that was not true at all. Instead, the vast majority of us will eventually have to move to new plans if we have not done so already. This is particularly true for those that purchase health insurance individually. The following is an excerpt from an NBC News investigation…
Four sources deeply involved in the Affordable Care Act tell NBC News that 50 to 75 percent of the 14 million consumers who buy their insurance individually can expect to receive a “cancellation” letter or the equivalent over the next year because their existing policies don’t meet the standards mandated by the new health care law. One expert predicts that number could reach as high as 80 percent. And all say that many of those forced to buy pricier new policies will experience “sticker shock.”
This is something that actually happened to me. I received a letter in the mail informing me that my new health insurance policy which meets the requirements of Obamacare will cost me nearly twice as much as my old one.
Gruber paid $400,000 by administration, visited White House a dozen times
By Paul Joseph Watson
November 12, 2014
Despite telling MSNBC that his comments were “off the cuff,” a second video has emerged of Obamacare architect Jonathan Gruber saying the law was passed because Americans were “too stupid” to understand it.
During an appearance on Ronan Farrow Daily, Gruber tried to explain away his initial comments by claiming he was speaking “off the cuff” when he said that a “lack of transparency” was crucial in fooling ‘stupid Americans’ during the effort to pass Obamacare.
“I spoke inappropriately and I regret having made those comments,” said Gruber.
However, another video has emerged from a previous event which illustrates how the MIT professor’s characterization of Americans as “stupid” was a common theme during his public appearances last year.
The clip is from remarks made by Gruber during a lecture at Washington University in St. Louis on October 4, 2013.
“Mr. Gruber explains how Democrats played with the language of the Obamacare law so that it achieved their goals, by again, fooling the stupid public,” states Fox News host Megyn Kelly, before playing a clip of Gruber stating that the passage of a part of Obamacare was aided because “the American people are too stupid to understand the difference.”
Gruber was referring to the so-called “Cadillac tax” in Obamacare, a tax hike on high-end insurance packages which was concealed by taxing the companies providing the plans rather than taxing Americans directly. Given that the costs are passed on anyway, Gruber celebrated the fact that the measure passed because Americans were, “too stupid to understand the difference.”
The Obama administration has refused to respond to the controversy despite records showing Gruber was paid $400,000 dollars, that he visited senior officials at the White House a dozen times and was also present at a meeting chaired by President Obama himself.
A White House aide set off a stampede of liberal media criticism for Internet news pioneer Matt Drudge over Obamacare – but his critics don't seem to understand how small businesses pay taxes.
By Matthew Boyle
March 22, 2014
The brouhaha started when Drudge tweeted, “Just paid the Obamacare penalty for not 'getting covered'... I'M CALLING IT A LIBERTY TAX.”
Jesse Lee, the Director of Progressive Media at Barack Obama's White House, responded that that was a “Flat lie, no fee for previous year,” adding, “Scary how much influence he once had.”
Lee’s response to Drudge set off a firestorm in the liberal media, with many mainstream media and left-wing reporters countering him on Twitter and in their own articles to claim he does not have to pay Obamacare’s Individual Mandate tax until next year. The individual mandate went into effect Jan. 1 of this year, and most people paying their taxes right now are paying taxes for 2013.
“Dude, there's no penalty until next yr,” Sahil Kapur of the leftwing Talking Points Memo tweeted.
December 10, 2013
Obamacare is a catastrophe that cannot be fixed, because it doesn’t fix what’s broken in American healthcare.
I just finished a detailed comparison of my current grandfathered health insurance plan from Kaiser Permanente (kp.org), a respected non-profit healthcare provider, and Kaiser’s Affordable Care Act (Obamacare) options. I reviewed all the information and detailed tables of coverage and then called a Kaiser specialist to clarify a few questions.
First, the context of my analysis: we are self-employed, meaning there is no employer to pay our healthcare insurance. We pay the full market-rate cost of healthcare insurance. We have had a co-pay plan with kp.org for the past 20+ years that we pay in full because there’s nobody else to pay it.
What we pay is pretty much what employers pay. In other words, if I went to work for a company that offered full healthcare coverage, that company would pay what we pay.
Kaiser Permanente (kp.org) is a non-profit. That doesn’t mean it can lose money on providing healthcare; if it loses millions of dollars a year (and some years it does lose millions of dollars), eventually it goes broke. All non-profit means is that kp.org does not have to charge a premium to generate profits that flow to shareholders. But it must generate enough profit to maintain its hospitals, clinics, etc., build reserves against future losses, and have capital to reinvest in plant, equipment, training, etc.
As an employer in the 1980s, a manager in non-profit organizations in the early 1990s and self-employed for 20+ years, I have detailed knowledge of previous healthcare insurance costs and coverage. As an employer in the 1980s, I paid for standard 80/20 deductible healthcare insurance for my employees. The cost was about $50 per month per employee, who were mostly in their 20s and 30s. In today’s money, that equals $108 per month.
By Michael Snyder
October 30, 2013
It is hard to find the words to adequately describe how much of a disaster Obamacare is turning out to be. The debut of Healthcare.gov has been probably the worst launch of a major website in history, millions of Americans are having their current health insurance policies canceled, millions of others are seeing the size of their health insurance premiums absolutely explode, and this new law is going to result in massive numbers of jobs being lost.
Image: Wikimedia Commons.
It is almost as if Obamacare was specifically designed to wreck the U.S. economy. Not that what we had before Obamacare was great. In fact, I have long argued that the U.S. health care system is a complete and total train wreck. But now Obamacare is making everything that was bad about our system much, much worse. Americans are going to pay far more for health care, the quality of that care is going to go down, they are going to have to deal with far more medical red tape, and thousands upon thousands of U.S. employers are considering getting rid of the health plans that they offer to employees altogether due to Obamacare. If the U.S. health care system was a separate nation, it would be the 6th largest economy on the entire planet, and now Obamacare is going to absolutely cripple it. To say that Obamacare is an “economic catastrophe” would be a massive understatement.
Of course we were assured that it wouldn’t turn out this way. We were promised over and over that we were going to pay less for health care, get better coverage, and be able to keep our current health plans if we were pleased with them. The following is what Obama said at a rally in 2009…
“First of all, if you’ve got health insurance, you like your doctors, you like your plan, you can keep your doctor, you can keep your plan. Nobody is talking about taking that away from you.”
Cancer is a growing worldwide epidemic, with staggering statistics: 20,000 people dying of cancer every day; 1 person out of 3 will be faced with cancer at one point in their life; and 1 million Americans are diagnosed with cancer every year.
The standard treatment for cancer has been the same for many decades and is comprised of surgery, radiation and chemotherapy, the latter two being toxic to healthy cells in the human body. These treatments, as well as the research surrounding cancer, generate millions of dollars each year for the medical industry, with a typical cancer patient spending on-average $50,000 to treat the disease.
Over the last century, several natural cancer treatments have been developed and used to treat patients in the US and in other developed countries.
Introduction by Paul Craig Roberts
The article below is the most comprehensive analysis available of “Obamacare” – the Patient Protection and Affordable Care Act. The author, a knowledgeable person who wishes to remain anonymous, explains how Obamacare works for the insurance companies but not for you.
Obamacare was formulated on the concept of health care as a commercial commodity and was cloaked in ideological slogans such as “shared responsibility,” “no free riders” and “ownership society.” These slogans dress the insurance industry’s raid on public resources in the cloak of a “free market” health care system.
You will learn how to purchase a subsidized plan at the Exchange, what will happen when income and family circumstances change during the year or from one year to the next, and other perils brought to you by Obamacare. It is one of the most important articles that will be posted on my website this year. Americans will be shocked to learn the extent to which they have been deceived. The legislation neither protects the patient nor are the plans affordable.
The author shows that for those Americans whose income places them between 138% and 400% of the Federal Poverty Level, the out-of-pocket cost for one of the least expensive (lower coverage) subsidized policies ranges from 2% to 9.5% of Modified Adjusted Gross Income (MAGI), a tax base larger than the Adjusted Gross Income used for calculating federal income tax.
What this means is that those Americans with the least or no disposable income are faced in effect with a substantial pay cut. The author provides an example of a 35 year-old with a MAGI of $27,925. The out-of- pocket cost to this person of a Silver level plan (second least expensive) is $187.33 per month. This cost is based on pre-tax income, that is, before income is reduced by payroll and income taxes. There goes the car payment or utility bill. The lives of millions of Americans will change drastically as they struggle with a new, large expense – particularly in an era of no jobs, low-paying jobs and rising cost of living.
September 8, 2013
Here is comes folks: Massive pension defaults
Actions like this have been a "quiet" policy of Corporate America for several years now and the trend is accelerating.
Big corporations are using arithmetical sleight of hand to throw retirees off the bus.
Since few retirees are actuaries and are incapable of analyzing the math, almost none of them realize how these "new and improved" programs are screwing them. Even when they do, thanks to Congress and the courts, there's little or nothing they can do about it.
This is a multi-TRILLION dollar scam and it's the first phase of the inevitable default of pension obligations worldwide. This is a major deflationary signal, perhaps the biggest one yet - and the least understood and acknowledged.
Ellen Schultz, a reporter for The Wall Street Journal, has covered the "new" retirement crisis for more than a decade.
Her book "Retirement Heist" explains it all. We'll be covering this topic in greater detail in the weeks and months to come.
By Matt Cover
June 5, 2013
In a final regulation issued Wednesday, the Internal Revenue Service (IRS) assumed that under Obamacare the cheapest health insurance plan available in 2016 for a family will cost $20,000 for the year.
Under Obamacare, Americans will be required to buy health insurance or pay a penalty to the IRS.
The IRS's assumption that the cheapest plan for a family will cost $20,000 per year is found in examples the IRS gives to help people understand how to calculate the penalty they will need to pay the government if they do not buy a mandated health plan.
The examples point to families of four and families of five, both of which the IRS expects in its assumptions to pay a minimum of $20,000 per year for a bronze plan.
“The annual national average bronze plan premium for a family of 5 (2 adults, 3 children) is $20,000,” the regulation says.
Bronze will be the lowest tier health-insurance plan available under Obamacare--after Silver, Gold, and Platinum. Under the law, the penalty for not buying health insurance is supposed to be capped at either the annual average Bronze premium, 2.5 percent of taxable income, or $2,085.00 per family in 2016.
In the new final rules published Wednesday, IRS set in law the rules for implementing the penalty Americans must pay if they fail to obey Obamacare's mandate to buy insurance.
To help illustrate these rules, the IRS presented examples of different situations families might find themselves in.
By Jim Meyers
March 21, 2013
An exhaustive study by three congressional committees delivers startling news about the dire effects of Obamacare: President Barack Obama’s signature legislation could increase health insurance premiums by over 200 percent and render insurance coverage unaffordable for millions of Americans.
Broadly, the new report declares that Obamacare “breaks its core promise” to make healthcare coverage affordable.
The report, “The Price of Obamacare’s Broken Promises,” was prepared by the House Committee on Energy and Commerce, Majority Staff; Senate Committee on Finance, Minority Staff; and Senate Committee on Health, Education, Labor and Pensions, Minority Staff.
“Studies and analyses from the Congressional Budget Office, independent actuaries, state insurance commissioners, health plans, benefit consultants, and others have reached the same conclusion: Obamacare will significantly increase premiums,” the congressional report states.
“Some estimates show some Americans facing startling premium increases of 203 percent because of the law.
“Higher healthcare premiums are the last thing single young adults and working families can afford. Yet contrary to what the president promised, that is exactly what Obamacare is projected to do.”
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