A Quote by Hillary Clinton
In most of the USA, the three largest health insurance companies in each state control 80 percent of the market. No wonder premiums are going up.
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The best thing that is happening with the health care is premiums will come down. We'll have tremendous competition; you know, we're getting rid of the border state lines, and we're going to have tremendous competition. We're going to have insurance companies fighting, like life insurance. You know, we - life insurance, you have these companies that are like - like going all over the place. We're going to have a tremendous - tremendously competitive market and health care costs are going to be forced down.
[Obamacare] premiums are going up 60 percent, 70 percent, 80 percent. Next year they're going to go up over 100 percent. And I'm really glad that the premiums have started - at least the people see what's happening.
Obamacare imposed an unprecedented level of regulation and standardization on individual-market health insurance all across America. This has left many consumers in an intolerable predicament - in some cases, having to spend up to a third or even half of their income on premiums and deductibles before insurance kicks in.
Right now in the insurance markets, we have sort of a disaster unfolding, a downward spiral, adverse selection, premiums in the individual market going through the roof. People can't afford insurance and insurance companies are losing hundreds of millions of dollars. If you repeal part of Obamacare to get rid of the individual mandate but keep some of the ideas, that people can still buy insurance after they're sick, the situation gets extraordinarily worse. And so what we're seeing now could be tenfold greater if you only repeal part of Obamacare.
Economists often talk about the 80/20 Principle, which is the idea that in any situation roughly 80 percent of the “work” will be done by 20 percent of the participants. In most societies, 20 percent of criminals commit 80 percent of crimes. Twenty percent of motorists cause 80 percent of all accidents. Twenty percent of beer drinkers drink 80 percent of all beer. When it comes to epidemics, though, this disproportionality becomes even more extreme: a tiny percentage of people do the majority of the work.
Skyrocketing insurance premiums are debilitating our Nation's health care delivery system and liability insurers are either leaving the market or raising rates to excessive levels.
Today, the U.S. fleet has shrunk to just four main carriers, which control 80 percent-plus of the U.S. market. No wonder passengers are at the mercy of the major airlines: flights jam-packed, routes slashed, service to smaller airports dumped.
Even if you're doing the national insurance awards, there's still that excitement when you wonder who is going to win, er, best premiums.
Those are things that we're going to be discussing over the next several weeks. But certainly ObamaCare is something that isn't very popular around the country. In fact, it's like an 80/20 issue right now for Republicans. It's not working. People aren't choosing their doctor. They're not keeping their health care. Premiums are not going down, they're going up.
Mention health in most companies, and the cost of health insurance is what comes to mind, not how the company can invest to prevent further escalation in societal health care costs.
I think people forget that when people lose Medicaid coverage, they still show up at the hospital when they have a chronic illness or a traumatic impact on their health. And those bills are paid by the hospital who then passes those costs on. They do not have a magic fairy paying the bills for people who show up without insurance. Those bills are passed on to all the people in our country that do have insurance. That's why this bill is not going to break the cycle of higher premiums - because we're going to have fewer people insured.
When enacted, health care reform provides generous tax credits to help people afford their health insurance premiums.
I am every single day talking with and working with people in my district who are seeing their health care insurance costs go up five times, 105 percent, 300 percent, that are getting pay cuts, that are losing 40-hour workweeks, that are having to work two and three jobs.
I don't think the market can keep going up. In the U.S., we see real estate not going up.. houses are selling at lower prices. You can't have anything going up 10 percent to 20 percent to 30 percent indefinitely.
Do you know what the overhead is of the Medicare system? One-point-zero-five percent. Do you know what - private insurance is 30 percent in overhead and profits? Given a choice how I'm going to improve health care, I'm going to take it away from private insurance profits and overhead. Wouldn't you?
We should all have the legal right to purchase health insurance from any insurance company in any state, and we should be able use that insurance wherever we live. Health insurance should be portable.
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