Posts Tagged ‘Affordable Care Act

21
May
15

$2.5T In Savings?! Thanks, ObamaCare

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West Wing Reports: Guess How Much Healthcare Could Cost Now?

A report issued Wednesday says that the most recent official projections indicate that the U.S. will spend $2.5 TRILLION LESS on health care from 2014 until 2019 than had been originally estimated at the time the Affordable Care Act became law in 2010. That represents a nearly 11 percent decrease in projected spending, according to the report issued by the Urban Institute, with support from the Robert Wood Johnson Foundation.

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Russ Britt: Obamacare Making Insurers More Responsive, Efficient: Study

A provision in Obamacare governing spending guidelines for health insurers essentially has forced carriers to become more efficient and responsive, a study released Wednesday finds. The joint study from the Urban Institute and the Robert Wood Johnson Foundation says minimum requirements in the Affordable Care Act that mandate how much insurers must spend on medical care resulted in savings of

$5 billion for consumers in 2011 and 2012, the first two full years after Obamacare was enacted in March 2010. For 2011 policies, insurers paid $1.1 billion in rebates. By 2012, insurers had adjusted premiums to comply with the new guidelines, though they still ended up paying more than $500 million in rebates. But that adjustment in premiums saved consumers an estimated $3.4 billion, Clemans-Cope says.

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15
May
15

$7 Billion In Savings?! Thanks, ObamaCare

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Tara Culp-Ressler: Thanks To Obamacare, Hospitals Saved More Than $7 Billion Last Year

According to a new report from the Department of Health and Human Services (HHS), hospitals saved at least $7.4 billion last year, thanks in large part to reforms under Obamacare. The savings reflect a reduction in the so-called “uncompensated care” that hospitals provide to uninsured Americans, and are even greater than HHS officials predicted they would be at the beginning of this year. Since people without insurance typically don’t have any means to cover their medical bills, the cost of their treatment ends up falling on the hospital itself. Therefore, as more people gain coverage, it become less expensive for hospitals to care for their patients.

More than 16 million previously uninsured Americans have gotten covered under Obamacare, contributing to the biggest drop in the national uninsurance rate over the past four decades. The savings have been most pronounced in the states that agreed to accept Obamacare’s optional Medicaid expansion, which seeks to extend public insurance to additional low-income people. Nearly 70 percent of the savings documented in the HHS report — a total of $5 billion — occurred in the 29 states that have expanded Medicaid. And, if every state had agreed to add more people to their Medicaid rolls, their hospitals could have saved an extra $1.4 billion.

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06
May
15

ObamaCare: Saving Lives And Keeping People Happy

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Sarah Kliff: Obamacare Creates Choice. That’s Why People Like It

Obamacare enrollees are more satisfied with their health insurance plans than those who get coverage outside the health law’s marketplaces, a new survey finds. J.D. Power and Associates on Thursday published a consumer satisfaction survey that looked at both people getting coverage through Obamacare and those who get coverage elsewhere, typically through their employer. They used a 1,000-point scale to measure how much people liked their coverage.

People who had coverage through Obamacare had an average satisfaction score of 696 in 2014, thinking back to their last year of coverage. During that same year, people in mostly employer-based plans had a satisfaction rating of 679 — 17 points lower. The J.D. Power survey suggests that there’s another variable enrollees think a lot about: choice. And this might actually circle back to the cost issue. People shopping on Obamacare have the option to decide whether they want a plan with a high premium or a low one.

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27
Apr
15

The Power Of ObamaCare: Millions Happy With Their Health Coverage

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Steve Benen: ACA Scores Big On Customer Satisfaction

When the Affordable Care Act’s Republican critics were making all kinds of dire predictions about the inevitable “failures” of “Obamacare,” one of the charges was that American consumers will end up hating the coverage they receive through the reform law. And for those ACA detractors looking for something, anything, to bolster their contempt for the law, I’m afraid I have more bad news: Americans who received coverage through Obamacare tend to be quite pleased with the results.

Obamacare customers nationally also tended to be more satisfied with their plans bought in 2014 than people who primarily have traditional job-based health coverage – the majority of those with insurance – the study by the J.D. Power market research company found. Politico reported back in November: “A majority of Americans give good reviews for insurance they recently acquired through government exchanges within the past year, a new poll shows. With the second round of Obamacare enrollment set to begin on Saturday, 71 percent said their coverage through the exchanges was good or excellent, according to a Gallup poll released Friday.

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24
Apr
15

ObamaCare: The Wonderful Gift That Keeps On Giving

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Jeffrey Young: Uninsured Rate Gets Lower And Lower, Thanks To Obamacare

The Affordable Care Act was designed to slash the percentage of Americans who lack health insurance, and it’s working. The uninsured rate fell to 11.9 percent during the first quarter of this year, 1 percentage point below the rate at the close of 2014, according to the findings of a Gallup-Healthways Well-Being Index poll published Monday. The decline coincides with the start of benefits for new Obamacare enrollees at the beginning of 2015. The latest uninsured figure from the Gallup survey is the lowest since the polling firm began tracking the number in 2008, and contributes to a remarkable decline of 5.2 percentage points in the share of people without health coverage since the end of 2013, just before the first wave of Obamacare health insurance enrollees joined the ranks of the insured.

African-Americans, Hispanics and people with low incomes saw the greatest gains in insurance coverage, Gallup found. the pollsters conclude that Obamacare is mostly responsible for the current trend because the uninsured rate is lower than it was in early 2008, when the economy was in recession. About 12 million people are covered by private health insurance obtained via the exchanges, according to the Department of Health and Human Services. A separate analysis published by the department last month estimates that 16 million fewer Americans are uninsured because of the Obamacare coverage expansion, including the exchanges and Medicaid.

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