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Affordable Care Act: Digging the 85/15 rule much more now
For those that aren't hip to the ways of the Act, the 85/15 rule states that all insurance companies have to spend at least 85% of premium income specifically on healthcare, allowing 15% for administrative expenses, advertising, etc.
I'm getting a rebate because in my area, healthcare spending fell below the 85% mark :thumbsup:.
According to CBO, the new repeal bill would reduce direct spending by $890 billion from 2013-2022, but also reduce tax revenue by $999 billion, leading to a net increase in the deficit of $109 billion.
So democrats are happy they are raising taxes by $1 trillion, and shaving the deficits by $80 billion? That's some fuzzy math.
Yes they are concerned with spending. Is Obamacare reducing the deficit with no additional taxes? The GOP could conceivably repeal Obamacare, raise taxes by $10 billion a year (drop in the bucket) and still come out ahead ;)
Plus it is now only saving $84 billion, but the Supreme Court decision shaved off $289 billion in spending because of it's ruling on State implementation. So pre-Scotus the bill was set to increase the deficit by $200 billion.
CBO: Cost Of Obamacare Drops By $84B As A Result Of Supreme Court's Decision | ThinkProgress
I'm happy for you Music Moves, everyone wants to save money.
But on the whole, premiums will probably still be increasing for most.
I don't think the CBO has ever said premiums will drop. They've adjusted how much it will grow, but that's about it.
It's law now, and I say fuck it, why bother repealing it. It's in there. If the GOP win big, I'd rather see them fix it, then repeal it. Wherever this law takes us, it takes us.
Again, happy for you Music Moves, money in the pocket is money in the pocket. That's extra loot for some snow gear.
Of the monstrosity that is ACA, the Medical Loss Ratio is one I am quite amicable towards. Overhead in other nations run 5-10%, so us being at 15-20% is not an unreasonable goal.
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