Posts Tagged ‘medicare

09
Oct
14

That Hopey Changey Thing Is Working Out Great. Thanks, President Obama!

Obama Hope Progress

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Rolling Stone: The Obama Hope And Change Index: 6 Years Of Progress, By The Numbers

Peak unemployment, October 2009: 10 percent
Unemployment rate now: 5.9 percent
Consecutive private sector job growth: 55 months
Private sector jobs created: 10.3 million
Federal deficit, 2009: 9.8 percent of GDP
Deficit in 2013: 4.1 percent of GDP

Average tax rate for highest earners 2008: 28.1 percent
Average tax rate for highest earners 2013: 33.6 percent
Banks regulated as too big to fail, 2009: 0
Banks regulated as “systemically important financial institutions” — a.k.a. too big to fail — 2014: 29
Billions returned to consumers by Consumer Financial Protection Bureau enforcement: $4.6 billion
Americans compensated for being swindled by banks, lenders and credit card companies: 15 million
Dow Jones close, inauguration day 2009: 7,949
Dow Jones yesterday: 16,719

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Required MPG (miles per gallon) for cars when Obama took office: 27.5
Required MPG for light trucks/SUVs when Obama took office: 23
MPG requirement by 2016 for cars, light trucks/SUVs: 35.5
MPG required by 2025: 54.5
Gigawatts of wind power installed when Obama took office: 25
Gigawatts of wind power installed through end of 2013: 61
Peak summertime solar power generation June 2008: 128 gigawatt hours
Peak summertime solar power generation June 2014: 2,061 gigawatt hours
Coal burned in electrical generation 2008: 1 billion short tons
Coal burned in electrical generation 2013: 858 million short tons
Reduction: 14.2 percent
EPA-proposed CO2 reductions for power sector by 2030: 30 percent

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Pell grant funding 2008-2009: $18 billion
Pell grant funding 2013-2014: $33 billion
Adults gaining insurance under first year of Obamacare: 10.3 million
As a percentage of the uninsured: 26
Annual cost for birth control prior to Obamacare: Up to $600
Annual cost for birth control under Obamacare-compliant policies: $0
Prescriptions now required to obtain emergency contraception: 0
2009 projection for Medicare going broke: 2017
2014 projection for Medicare going broke: 2030

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Troops in Iraq, inauguration day 2009: 144,000
Troops in Iraq today: 1,600
Osama bin Ladens alive 2009: 1
Osama bin Ladens alive 2014: 0
Troops in Afghanistan, day, 2009: 34,400
Troops pledged in Afghanistan by end of 2014: 9,800
Guantánamo detainees inauguration day 2009: 242
Gitmo detainees today: 149
Crack vs. Powder cocaine-crime sentencing disparity when Obama took office: 100:1
Crack vs. Powder disparity today: 18:1
Drug offenders eligible to seek early release under new sentencing guidelines: 46,000

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POTUS Thumbs Up

06
Oct
14

The American Economy Is Growing? You Can Thank President Obama

Obama GOP

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Bloomberg: Corporate U.S. Healthiest In Decades Under Obama With Lower Debt

Steve Wynn, founder of the Wynn Resorts Ltd. (WYNN) casino empire, once called President Barack Obama’s administration “the greatest wet blanket to business and progress and job creation in my lifetime.” Barry Sternlicht, chief executive officer of Starwood Property Trust Inc. (STWD), said Obamacare was driving down wage growth and “affecting spending and the desire to buy houses and everything else.” Corporate and economic statistics almost six years into his administration paint a different picture. Companies in the Standard & Poor’s 500 (SPX) Index are the healthiest in decades, with the lowest net debt to earnings ratio in at least 24 years, $3.59 trillion in cash and marketable securities, and record earnings per share. They are headed this year toward the fastest average monthly job creation since 1999, manufacturing is recovering and the U.S. has returned as an engine for global growth. The recovery, which stands in contrast to weak growth in Europe and Asia, has underpinned an almost threefold gain in the Standard & Poor’s 500 Index since March 2009.

“The U.S. is leading the way — we’re the only major economy with accelerating growth,” said Mark Zandi, chief economist in West Chester, Pennsylvania, for Moody’s Analytics Inc. and a registered Democrat who has advised both the Obama administration and Senator John McCain, a Republican. “Obama deserves some credit for that, but he probably won’t get it.” Barring any major disruptions, the economy is setting up for Obama to leave office on a high note, said Douglas Brinkley, a presidential historian and professor at Rice University in Houston. “History will eventually show that Obama inherited the Great Recession and resuscitated the economy,” Brinkley said in an interview. One example is General Motors Co. (GM), which last week regained its investment-grade debt rating from Standard & Poor’s only five years after the government-backed bankruptcy. Obama’s $49.5 billion bailout of the automaker in exchange for taxpayers owning 61 percent of the company kept it from being liquidated, an outcome that could have crippled parts suppliers and economies throughout most of 50 states, not just the Midwest. In the broader economy, consumers are buying again and homebuilding is increasing. The unemployment rate has declined to 6.1 percent, the lowest since 2008. The economy expanded at a 4.6 percent annualized rate in April through June. Obama’s 2010 health-care program will hold down consumer prices for years to come as millions of Americans obtain coverage, BNP Paribas SA and Credit Suisse Group AG said. The “Medicare cost miracle” resulted at least in part from Obama’s Patient Protection and Affordable Care Act, Nobel-Prize winning economist Paul Krugman wrote in a Sept. 1 New York times article.

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9.26.14

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Steve Benen: Economic Growth Improves To Eight-Year High

The preliminary figures on second-quarter GDP looked good; the revised tally looked better; and the final report looks even better still. The U.S. economy grew at a 4.6% annual pace in the second quarter, matching the best performance since the recession ended in mid-2009. The increase in real gross domestic product was revised up from 4.2%, mainly because of higher exports and business investment, the Commerce Department said Friday. Americans also spent more on health care, but the gain was offset by lower spending on other services. Economists polled by MarketWatch had predicted GDP would be revised up to a seasonally adjusted 4.7%. Consumer spending, the main source of economic activity, was unchanged at 2.5% growth. The biggest gains came in business investment, a good sign for the economy in the months ahead. To provide some additional context, 4.6% growth is tied for the best quarter since the start of the Great Recession.

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29
Sep
14

McAllen, Texas Saved $20M On Healthcare?! Thanks ObamaCare

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NYT: A Health Care Success Story

IT may have been the most influential magazine article of the past decade. In June of 2009, the doctor and writer Atul Gawande published a piece in The New Yorker called “The Cost Conundrum,” which examined why the small border city of McAllen, Tex., was the most expensive place for health care in the United States. The article became mandatory reading in the White House. President Obama convened an Oval Office meeting to discuss its key finding that the high cost of health care in the country was directly tied to a system that rewarded the overuse of care. Five years later, the situation has changed. Where McAllen once illustrated the problem of American health care, the city is now showing us how the problem can be solved, largely because of the Affordable Care Act that Mr. Obama signed into law in 2010.

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The problem was that doctors in McAllen were responding to reimbursement incentives in the American health care system that rewarded activity rather than value. The more procedures and visits a doctor billed, the more he got paid. The Affordable Care Act was designed to change that. One of its provisions created the Medicare Shared Savings Program, which rewards doctors for keeping their patients healthy. Participation in the program requires primary care doctors to create networks, called accountable care organizations, or A.C.O.s, to better coordinate patient care. These networks are reimbursed for delivering high-quality care below a baseline of historical Medicare costs. In 2012, doctors in McAllen formed the Rio Grande Valley Accountable Care Organization Health Providers, and signed up for this experiment. The early results are in, and they are stunning: From April 2012 to the end of 2013, the Rio Grande Valley A.C.O. saved more than $20 million from its Medicare baseline. These changes didn’t just save money; they also improved patients’ health. From 2012 to 2013, the number of patients achieving control of their diabetes rose 11.8 percentage points. The number receiving vaccinations rose 12.2 percentage points.

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27
Aug
14

Medicare Is Not Destroying The Budget? Thanks, ObamaCare

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David Leonhardt: Medicare: Not Such A Budget-Buster Anymore

You’re looking at the biggest story involving the federal budget and a crucial one for the future of the American economy. Every year for the last six years in a row, the Congressional Budget Office has reduced its estimate for how much the federal government will need to spend on Medicare in coming years. The latest reduction came in a report from the budget office on Wednesday morning. The changes are big. The difference between the current estimate for Medicare’s 2019 budget and the estimate for the 2019 budget four years ago is about $95 billion dollars. That sum is greater than the government is expected to spend that year on unemployment insurance, welfare and Amtrak — combined. It’s equal to about one-fifth of the expected Pentagon budget in 2019. Widely discussed policy changes, like raising the estate tax, would generate just a tiny fraction of the budget savings relative to the recent changes in Medicare’s spending estimates.

In more concrete terms, the reduced estimates mean that the federal government’s long-term budget deficit is considerably less severe than commonly thought just a few years ago. The reduced estimates are also an indication of what’s happening in the overall health care system. Even as more people are getting access to health insurance, the costs of caring for individual patients is growing at a super-slow rate. That means that health care, which has eaten into salary gains for years and driven up debt and bankruptcies, may be starting to stabilize as a share of national spending. The Affordable Care Act, in particular, made significant reductions to Medicare’s spending on hospitals and private Medicare plans, to help subsidize insurance coverage for low- and middle-income Americans.

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08
Aug
14

ObamaCare: Helping Millions? ✓ Strengthening Medicare? ✓

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Alex Wayne: Medicare Reduces Payments For 2015 Hospital Admissions

Medicare, the U.S. program for the elderly and disabled, said payments for hospital admissions would fall $756 million next year as penalties stiffen for patients who return too early. Payments for inpatient services at about 3,400 acute-care hospitals will be cut about 0.6 percent in 2015, the Centers for Medicare and Medicaid Services said in a regulatory filing,

including reductions in funding for hospitals who provide care for many low-income patients, those with too many patients who contract infections while admitted and higher penalties for readmissions within 30 days. The Obama administration has applauded reduced Medicare spending for hospital admissions, a trend encouraged by the Patient Protection and Affordable Care Act that has added 13 years to the life of Medicare’s key trust fund.

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Tony Carrk: Conservatives Want You To Pay More For The Health Plan You Like

The Affordable Care Act, or ACA, is working: The uninsured rate has fallen dramatically since the law went into effect. Newly released data published in The New England Journal of Medicine show that 10.3 million adults gained coverage during the first open enrollment period. According to a recent Commonwealth Fund survey, 60 percent of those with new coverage said they used their coverage to go to the doctor or hospital or to fill a prescription; 62 percent of those people said they would not have been able to do so without their new coverage. Moreover, of those who were looking for a doctor, two-thirds said they were able to get an appointment within two weeks. People are happy with their coverage. Overall, 78 percent of those surveyed said they were either somewhat

satisfied or very satisfied with their new coverage. This is about the same rate as those reported by both people who were previously insured and by those who newly gained coverage. Even 74 percent of self-identified Republicans reported being satisfied with their coverage. The ACA has not only led to millions of Americans getting health care coverage, but it has also benefited the country as a whole. Earlier this month, the nonpartisan Congressional Budget Office, or CBO, reported that the ACA is helping slow the growth rate of health care costs, which has positive consequences for the federal budget. It is also helping strengthen the solvency of Medicare.

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The New England Journal Of Medicine: Health Reform And Changes In Health Insurance Coverage In 2014

In this analysis of nationally representative survey data from January 2012 through June 2014, we found a significant decline in the uninsured rate among nonelderly adults that coincided with the initial open-enrollment period under the ACA. These changes remained highly significant after adjustment for potential confounders such as employment, demographic characteristics, and income. As compared with the baseline trend, the uninsured rate declined by 5.2 percentage points by the second quarter of 2014, a 26% relative decline from the 2012–2013 period. Combined with 2014 Census estimates of 198 million adults 18 to 64 years of age, this corresponds to 10.3 million adults gaining coverage, although depending on the model and confidence intervals,

our sensitivity analyses imply a wide range from 7.3 to 17.2 million adults. Absolute gains were largest among young adults and Hispanics, two groups with high uninsured rates at baseline. We found evidence that within the first 6 months of gaining insurance, more adults reported having a personal doctor and fewer had difficulties paying for medical care — even though the latter measure asked about the prior 12 months. These results are consistent with studies of previous insurance expansions that have shown that gains in coverage can lead to rapid improvements in access. In conclusion, we found that the number of Americans without health insurance declined significantly since the ACA open-enrollment period began in October 2013.

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06
Aug
14

Rise and Shine

On This Day: President Obama greets a young supporter at a campaign rally for gubernatorial candidate Creigh Deeds in Tyson’s Corner Va., on Aug. 6, 2009 (Photo by Pete Souza)

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Today (All Times Eastern)

10:0: The President delivers remarks and participates in Session One of the U.S.-Africa Leaders Summit at the State Department: Investing in Africa’s Future.

12:30: Participates in Session Two: Peace and Regional Stability

2:30: Participates in Session Three: Governing the Next Generation

5:0: Holds a press conference, State Department

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10:0: First Lady Michelle Obama, in partnership with former First Lady Laura Bush and the Bush Institute, will host a day-long spouses symposium at the Kennedy Center focused on the impact of investments in education, health, and public-private partnerships.

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Jonathan Cohn: Obamacare’s Impact On The Uninsured, State By State: Where Officials Wanted It To Work, It Did

Need another reminder of why Obamacare’s impact depends heavily on the state where you live? Gallup has one for you. On Tuesday, the organization published a state-by-state breakdown of how the law has affected the rate of uninsurance, at least according to its polling. Arkansas seemed to make the most progress: In that state, by Gallup’s reckoning, the ranks of the uninsured fell by 10.1 percentage points. Next was Kentucky, at 8.5 percentage points. The states that made the most headway covering the uninsured,

according to Gallup, are states in which officials decided to build their own insurance marketplaces and to make all low-income people eligible for Medicaid, as the Affordable Care Act originally envisioned. The Medicaid expansion is obviously the big factor here, because it meant many more people (into the millions, in the largest states) became eligible for government-subsidized insurance. But it’s safe to assume that the states that undertook both steps were also the ones that put the most thought and effort into promoting the program.

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Michelle Jamrisko: Services In U.S. Expand At Fastest Pace Since 2005

Service industries such as builders and retailers grew in July at the fastest pace since December 2005, signaling the U.S. economy was hitting its stride entering the second half of 2014. The Institute for Supply Management’s non-manufacturing index increased to 58.7, exceeding the highest estimate in a Bloomberg survey of economists, from the prior month’s 56, the Tempe, Arizona-based group’s report showed today. Readings greater than 50 indicate expansion. The median estimate in the Bloomberg survey called for 56.5.

Prospects for the world’s largest economy are improving as the group’s orders index reached an almost nine-year high, reflecting broad-based gains. Combined with another report showing factory bookings are also jumping, the pickup in demand raises the odds the job market will extend its recent progress. “We’re seeing numbers that we haven’t seen since well before the financial crisis and recession, and they seem to be more sustained,” said Terry Sheehan, an economist at Stone & McCarthy Research Associates in Princeton, New Jersey, whose ISM index projection of 57 was among the highest in the Bloomberg survey. The strengthening is “pretty much across the board for business activity, new orders and employment.”

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Shobhana Chandra: Trade Gap Shrinks To Five-Month Low As U.S. Imports Drop

The trade deficit in the U.S. unexpectedly narrowed in June, reflecting the biggest drop in imports in a year as the economy moved closer to energy independence. The gap shrank 7 percent to $41.5 billion, the smallest since January, from May’s $44.7 billion, Commerce Department figures showed today in Washington. The median forecast in a Bloomberg survey of 66 economists called for a deficit of $44.8 billion. The drop in purchases of foreign goods included declines in autos and cellular phones, while petroleum imports were the lowest in more than three years.

Demand for goods made overseas will probably rebound in coming months, helped by growing household spending and business investment. Exports were little changed at a record, a sign markets overseas will represent less growth for American factories as Europe’s economy struggles to pick up and geopolitical tensions mount. “Imports are going to bounce back because of the strength of the U.S. consumer,” said Jay Bryson, global economist at Wells Fargo Securities LLC in Charlotte, North Carolina. “The U.S. is doing better than most advanced countries.”

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Roberto A. Ferdman: Why Immigrants Are The Best Thing That Happened To Medicare

America’s growing immigrant population might not be all that bad for the country’s health-care system. In fact, it’s probably playing an important role in helping to keep it afloat. U.S. immigrants’ net contribution to Medicare’s Hospital Insurance Trust Fund, the program’s core funding source, was $183 billion between 1996 and 2011. US-born Americans? Negative $69 billion, according to a new report by the Partnership for the New American Economy, an immigration advocacy group. That means that immigrants have been pumping a lot more money in than they take out, while the rest of the population has been doing just the opposite. On a per person basis, immigrants contributed $62 more per person to the trust fund than the U.S.-born, and claim $172 less in benefits.

By the institute’s estimates, the cash contributed by immigrants over the 16-year span was more than a mere inconsequential boost. “Our analysis indicates that non-citizen immigrants, a group that includes both authorized and unauthorized immigrants, played a particularly large role subsidizing the care of the U.S.-born population,” the report says. The net $183 billion contribution was enough to ensure the prolonged buoyancy of Medicare trust fund, which according to the most recent projection will remain solvent through 2030.

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On This Day

President Obama carries a cake into the Oval Office for a birthday party for Phil Schiliro, assistant to the president for legislative affairs, on Aug. 6, 2009 (Photo by Pete Souza)

President Obama waits to speak at a campaign rally for gubernatorial candidate Creigh Deeds in Tyson’s Corner Va., on Aug. 6, 2009 (Photo by Pete Souza)

President Obama waits backstage to speak at a reception in Tyson’s Corner Va., for gubernatorial candidate Creigh Deeds, on Aug. 6, 2009 (Photo by Pete Souza)

 President Obama speaks at a campaign rally for gubernatorial candidate Creigh Deeds in Tyson’s Corner Va., on Aug. 6, 2009 (Photo by Pete Souza)

President Obama shakes hands at a reception in Tyson’s Corner Va., for gubernatorial candidate Creigh Deeds, on Aug. 6, 2009 (Photo by Pete Souza)

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President Obama walks into the Oval Office with newly confirmed Supreme Court Justice Elena Kagan, Aug. 6, 2010 (Photo by Pete Souza)

President Obama signs Elena Kagan’s commission in the Oval Office, before a reception in the East Room celebrating her confirmation to the Supreme Court, Aug. 6, 2010 (Photo by Pete Souza)

President Obama visits with Supreme Court Justice Ruth Bader Ginsburg and newly confirmed Supreme Court Justice Elena Kagan in the Blue Room of the White House, prior to Kagan’s confirmation reception in the East Room, Aug. 6, 2010 (Photo by Pete Souza)

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President Obama is briefed on the tragedy in Afghanistan by Defense Secretary Leon Panetta, Adm. Mike Mullen, Chairman of the Joint Chiefs of Staff, National Security Advisor Tom Donilon, Chief of Staff Bill Daley, and national security staff, at Camp David, Aug. 6, 2011 (Photo by Pete Souza)

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Members of the press document President Obama during the Honoring America’s Veterans and Caring for Camp Lejeune Families Act of 2012 signing ceremony in the Oval Office, Aug. 6, 2012. (Official White House Photo by Sonya N. Hebert)

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President Obama takes the stage to deliver remarks on housing and home ownership at Desert Vista High School in Phoenix, Ariz., Aug. 6, 2013 (Photo by Pete Souza)

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President Obama joins Jay Leno for a taping of the “The Tonight Show with Jay Leno” in Burbank, Calif., Aug. 6, 2013 (Photo by Pete Souza)

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