Forbes: Family of 4 to spend $7450 more on Heathcare | TigerDroppings.com

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Lsut81
USA Fan
Member since Jun 2005
64672 posts

Forbes: Family of 4 to spend $7450 more on Heathcare


quote:

Unfortunately, the experts working for Medicare’s actuary have (yet again[1]) reported that in its first 10 years, Obamacare will boost health spending by “roughly $621 billion” above the amounts Americans would have spent without this misguided law.

What this means for a typical family of four

$621 billion is a pretty eye-glazing number. Most readers will find it easier to think about how this number translates to a typical American family—the very family candidate Obama promised would see $2,500 in annual savings as far as the eye could see. So I have taken the latest year-by-year projections, divided by the projected population and multiplied the result by 4.

Simplistic? Maybe, but so too was the President’s campaign promise. And this approach allows us to see just how badly that promise fell short of the mark. Between 2014 and 2022, the increase in national health spending (which the Medicare actuaries specifically attribute to the law) amounts to $7,450 per family of 4.

Let us hope this family hasn’t already spent or borrowed the $22,500 in savings they might have expected over this same period had they taken candidate Obama’s promise at face value. In truth, no well-informed American ever should have believed this absurd promise. At the time, Factcheck.org charitably deemed this claim as “overly optimistic, misleading and, to some extent, contradicted by one of his own advisers.” The Washington Post less charitably awarded it Two Pinocchios (“Significant omissions or exaggerations”)


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CajunAngele
LSU Fan
Member since Oct 2012
11168 posts

re: Forbes: Family of 4 to spend $7450 more on Heathcare



I believe when we did this, check for costs a few months ago it was even more than that for a family of four. But we don't know the criteria Forbes used.

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davesdawgs
Georgia Fan
Georgia - Class of '75
Member since Oct 2008
17162 posts

re: Forbes: Family of 4 to spend $7450 more on Heathcare


quote:

Let us hope this family hasn’t already spent or borrowed the $22,500 in savings they might have expected over this same period had they taken candidate Obama’s promise at face value. In truth, no well-informed American ever should have believed this absurd promise. At the time, Factcheck.org charitably deemed this claim as “overly optimistic, misleading and, to some extent, contradicted by one of his own advisers.” The Washington Post less charitably awarded it Two Pinocchios (“Significant omissions or exaggerations”)


The problem is there is little or no accountability with the Obama administration because most of the media is still carrying water for him. In stead of acknowledging that the Pub proposal is the will of the majority of their constituents and that of the majority of the nation as a whole, they have already assigned blame for a potential government shutdown to the Pubs. LINK






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TrueTiger
LSU Fan
Chicken's most valuable
Member since Sep 2004
10290 posts

re: Forbes: Family of 4 to spend $7450 more on Heathcare


quote:

Family of 4 to spend $7450 more on Heathcare



which, per Obama math, translates into a $2,500 savings






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gatorrocks
Florida Fan
Lake Mary, FL
Member since Oct 2007
8802 posts

re: Forbes: Family of 4 to spend $7450 more on Heathcare


Honestly, I hope it does cost that much more. Democrats will never be elected to an office again until it's repealed.





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Powerman
LSU Fan
Corpus Christi, TX
Member since Jan 2004
120619 posts

re: Forbes: Family of 4 to spend $7450 more on Heathcare


quote:

Honestly, I hope it does cost that much more.

I HAS A CRAYON






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Jay Quest
Navy Fan
Once removed from Massachusetts
Member since Nov 2009
4945 posts

re: Forbes: Family of 4 to spend $7450 more on Heathcare


The raise each American will receive after their employer realizes a 3000% decrease in healthcare cost will offset any increase the employee would feel.







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dewster
Maryland Fan
Tennessee
Member since Aug 2006
9056 posts

re: Forbes: Family of 4 to spend $7450 more on Heathcare


quote:

Obamacare will boost health spending by “roughly $621 billion” above the amounts Americans would have spent without this misguided law.


So that's why the senate won't even vote on the bipartisan bill passed by the house that funds our government?






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dewster
Maryland Fan
Tennessee
Member since Aug 2006
9056 posts

re: Forbes: Family of 4 to spend $7450 more on Heathcare


quote:

Democrats will never be elected to an office again until it's repealed.


False.






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EZE Tiger Fan
Member since Jul 2004
23960 posts

re: Forbes: Family of 4 to spend $7450 more on Heathcare


quote:

Honestly, I hope it does cost that much more. Democrats will never be elected to an office again until it's repealed.








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Holden Caulfield
LSU Fan
Hanging with J.D.
Member since May 2008
6310 posts

re: Forbes: Family of 4 to spend $7450 more on Heathcare


quote:

Democrats will never be elected to an office again until it's repealed.

something tells me the voters in Sheila Jackson Lee's district aren't overly concerned with what others are paying for healthcare.






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Asgard Device
The Daedalus
Member since Apr 2011
4107 posts

re: Forbes: Family of 4 to spend $7450 more on Heathcare


Forbes, the same minds that counted teachers, firemen, and LEOs as "takers" in their takers vs. makers hit piece?





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kaleidoscope tiger
Member since Aug 2012
370 posts

re: Forbes: Family of 4 to spend $7450 more on Heathcare


Please excuse my ignorance but I have a question.

I am under the impression that the bigger the pool of insured is, the lower the liability is. For example, it costs much more to insure a group of 5 people than a group of 500. So, if through Obamacare, a significant higher number of people will be insured, how does that translate to higher costs of premiums?

In laymam's terms, please.






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Hog on the Hill
Arkansas Fan
New York, NY
Member since Jun 2009
6359 posts

re: Forbes: Family of 4 to spend $7450 more on Heathcare


This article is pretty misleading.

The source the author cites is projecting total healthcare expenditures, not healthcare premiums. It notes that healthcare expenditures have grown relatively slowly the past few years, primarily due to the sluggish economy. It cites the following reasons for increased growth in healthcare expenditures in the coming years: improvement of the economy, aging population, and increased insurance coverage from ACA.

In the first paragraph of the article, the author quotes Obama's campaign promise which is about ACA reducing the cost of healthcare premiums for families. His promise was not that total healthcare expenditures in the US would decrease.

I'm not saying that ACA will be all that the president said it would. I'm not saying it's a good or bad thing. I'm just saying this article is not very enlightening.

From the CMS source the article cited:

quote:

By 2022, the ACA is projected to reduce the number of uninsured people by 30 million,
add approximately 0.1 percentage-point to average annual health spending growth over
the full projection period, and increase cumulative health spending by roughly $621
billion.
0.1 percent added to the growth doesn't seem that bad.

It seems to me that this author is intellectually lazy and did not take much time to consider what the source actually said.



This post was edited on 9/23 at 10:24 am


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Bear Is Dead
LSU Fan
Monroe
Member since Nov 2007
3603 posts

re: Forbes: Family of 4 to spend $7450 more on Heathcare


quote:

Democrats will never be elected to an office again until it's repealed

Yea this wont happen. WHen you add up people who live for free, produce nothing, plus the apologists who want the former group to continue living for free, producing nothing, it is enough to get elected.






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AUCE05
USA Fan
Member since Dec 2009
11398 posts

re: Forbes: Family of 4 to spend $7450 more on Heathcare


The catch will be this; you don't get insurance and will be fined ~$95. When you get sick, you get a plan, because now they can't turn you down. I can see company's stop supplying health insurance, because it'll be cheaper to take the penalty.





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Lsut81
USA Fan
Member since Jun 2005
64672 posts

re: Forbes: Family of 4 to spend $7450 more on Heathcare


quote:

I'm just saying this article is not very enlightening.


Nice catch






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Powerman
LSU Fan
Corpus Christi, TX
Member since Jan 2004
120619 posts

re: Forbes: Family of 4 to spend $7450 more on Heathcare


quote:


Nice catch

Definitely

But you can bet that his observations will be largely ignored while the Cajun Angelles of the world belly ache and moan all day about something that is essentially fiction.






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Lsut81
USA Fan
Member since Jun 2005
64672 posts

re: Forbes: Family of 4 to spend $7450 more on Heathcare


quote:

Definitely


Maybe the author is assuming the expenditures will be passed along






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HortensePowdermaker
Grambling Fan
Member since Feb 2013
696 posts

re: Forbes: Family of 4 to spend $7450 more on Heathcare


quote:


But you can bet that his observations will be largely ignored while the Cajun Angelles of the world belly ache and moan all day about something that is essentially fiction.


Maybe Obama promised lower premia in the same speech where he talked about $2 gas!






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