Sunday, 18 November, 2018

CBO: Nixing Obamacare Subsidies Will Raise Premiums And Increase The Deficit

A sign identifeis the offices of the nonpartisan Congressional Budget Office A sign identifeis the offices of the nonpartisan Congressional Budget Office
Carol Daniels | 18 August, 2017, 01:12

Surprisingly, some customers might find better deals by looking at higher-end products. About 7 million consumers receive the benefit.

It will cost the federal government almost $200 billion to end the cost-sharing reduction subsidies.

The CBO's assessment echoes concerns raised by insurers over the past several months, who have said that terminating the payments would cause premiums to rise. Insurance companies would need to raise premiums to offset the lack of CSR payments. Their subsidies will rise along with Silver premiums, but they'll choose to buy Bronze or Gold plans instead, whose premiums won't be much affected.

The Affordable Care Act, miserably failing, has injured the individual insurance market and forced business owners to fire employees due to the unaffordable costs of the insurance.

"Decisions about offering and purchasing health insurance depend on the stability of the health insurance market-that is, on the proportion of people living in areas with participating insurers and on the likelihood of premiums' not rising in an unsustainable spiral", the CBO said.

Health insurers, such as UnitedHealth Group Inc., Aetna Inc. and Humana Inc., have also exited most of the states where they used to sell plans.

The Kaiser Family Foundation found that "the average deductible is reduced to $809, a savings of $2,800" each year by the subsidies for people who earn 150 percent to 200 percent of the federal poverty level.

President Trump had periodically threatened to stop the payments as a way to highlight what he said were the ACA's defects, and to pressure Congress into passing ACA repeal legislation.

Japan, US conduct live-fire drill amid regional tension
Either way, it's a cagey tactic: If Trump orders the B-1Bs to stay on the ground, Pyongyang can claim victory. Hundreds of thousands of Americans, including more than 28,000 USA troops, also live in South Korea.

Deadpool 2 to resume production following tragic on-set death of stuntwoman
Her Facebook page notes the racer was still recovering from surgery in June for a broken wrist. The stunt was reportedly practiced successfully multiple times before the incident occured.

Bannon advised Trump not to criticize neo-Nazis too harshly
He thinks Trump's chief strategist is leaking information about the administration to the media. They ended with a discussion of his most infamous quote about Bannon.

But the administration has continued paying the subsidies month to month as it waited for Congress to overhaul the Affordable Care Act.

Trump elaborated in another tweet, "If a new HealthCare Bill is not approved quickly, BAILOUTS for Insurance Companies.will end very soon!"

The subsidies are now the subject of litigation.

A White House spokesperson said Wednesday President Donald Trump will make key ObamaCare subsidy payments next month, while he makes a final decision about the ultimate future of the payments. In particular, the agencies analyzed what would happen if it were decided by the end of August 2017 that CSR payments would continue only through the end of this calendar year. Some have dropped out of the market, citing financial losses as claims for medical care exceeded their expectations.

The Trump administration's pledge to end billions in federal insurance subsidies will worsen the federal deficit, and spike health insurance premiums, the Congressional Budget Office warned Tuesday.

A new CBO report underlines some of the unintended consequences of doing that.

Rates for silver plans would be 25% higher in 2020 and beyond, according to CBO.

Cost-sharing payments reimburse insurers for subsidizing out-of-pocket costs for lower-income people. But under the Affordable Care Act, insurers are required to provide the discounts to low-income people, who the coy say are the real beneficiaries.

Recommended

Trump Disbands Business Councils After Wave of Resignations for Handling of Charlottesville Trump Disbands Business Councils After Wave of Resignations for Handling of Charlottesville Trump had no public appearances on Wednesday, yet made his presence felt online. "She will be long remembered by all!" he wrote . Senator Marco Rubio of Florida, who ran against Trump in the Republican primaries, also responded in a series of tweets.

Lashkar commander gunned down in Pulwama encounter Lashkar commander gunned down in Pulwama encounter Pulwama: Clashes between protesters and government forces erupted in Kakapora area of south Kashmir's Pulwama district Thursday, sources said.

PS4 system 5.00 beta out for select users, adds new features PS4 system 5.00 beta out for select users, adds new features This new system will also make it easier to set up PlayStation Network accounts for kids and customize parental control settings. Once this is enabled, spectator comments sent during a broadcast is displayed not only in cinematic mode, but also in VR mode.

Pelicans keeping doctor fired by Saints for misdiagnosing player's broken leg Pelicans keeping doctor fired by Saints for misdiagnosing player's broken leg Head coach Sean Payton addressed the issue during his post-practice press conference today from team camp in Metairie. The Saints have fired two team orthopedists after a misdiagnosis of an injury to Saints cornerback Delvin Breaux .

Qualcomm to embed depth sensing camera technology to upcoming chipsets Qualcomm to embed depth sensing camera technology to upcoming chipsets If you are still not convinced, check out the new camera tech in action, in the Qualcomm video posted here . The premium computer vision kit is capable of active depth sensing which was demoed through a video .

Oil Prices Rally On Surprise Inventory Draw (USO) Oil Prices Rally On Surprise Inventory Draw (USO) Crude prices fell on Tuesday-despite an export terminal closure in Libya on the back of worker protests-on weakening China demand. Speculation that OPEC will fail to re-balance global oil markets with its supply quota plan continues to weigh on oil prices .

Tensions ease as N Korea holds off on Guam missile plan Tensions ease as N Korea holds off on Guam missile plan Moon reiterated that South Korea will not allow the U.S. to carry out a pre-emptive strike against North Korea. Trump has warned he's ready to unleash "fire and fury" against the North if it continues to threaten the U.S.

Faux pas galore as Rahul inaugurates Amma… err.Indira Canteen in Bengaluru Faux pas galore as Rahul inaugurates Amma… err.Indira Canteen in Bengaluru Other political parties like the Janata Dal (Secular) have also forayed into the subsidised food service venture. It was a mixed review for the quality and taste of food served at Indira Canteen on the first day.

Turkey shares grief of Sierra Leone's mudslide victims Turkey shares grief of Sierra Leone's mudslide victims Officials at Freetown's central morgue said yesterday that 105 of the more than 300 officially dead were children. You know we're in the rainy season, waterborne diseases are rife, mosquitoes, malaria is a risk", Saigal said.

Rare white moose caught on video Rare white moose caught on video Regardless of what you call it, this majestic animal is definitely attractive . "It is a stately moose". An impressive, albeit brief, video of a white moose chilling in Sweden surfaced over the weekend.

BWS: Hurricane Gert A "Potential Threat" BWS: Hurricane Gert A It is that time of the year again when tropical waves begin lining up in the eastern Atlantic just off the coast of Africa. It has maximum sustained winds of about 75 miles per hour and is moving north-northeast at 10 miles per hour .

Kentucky mayor says he wants to move two Confederate statues Kentucky mayor says he wants to move two Confederate statues Breckinridge, a former US vice president and congressman, was expelled from the Senate after joining the Confederate Army. He then said that he is taking steps to remove two monuments to John Hunt Morgan and John C.

Dow plummets 205pts as Trump inflames Korea tension Dow plummets 205pts as Trump inflames Korea tension Treasurys benefited from a flight-to-safety trade, with the 10-year yield dipping to 2.18 percent, its lowest level since June. Against a basket of currencies it firmed 0.2 percent, rising off last week's 10-day lows.DXY.

NDP Government to End Grizzly Bear Trophy Hunting NDP Government to End Grizzly Bear Trophy Hunting The government said there are about 15,000 grizzlies in B.C. and that hunters kill about 250 every year. But others, like those who offer grizzly bear tours, are deeply opposed to hunting them.

First Lady of Zimbabwe accused of beating model with extension cord First Lady of Zimbabwe accused of beating model with extension cord Mugabe , who is 41 years younger than her husband Robert , has two sons and one daughter with the Zimbabwean president . LATEST! Grace Mugabe has now been ordered to report to SOUTH AFRICAN police over Gabriella Engels assault .