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Obamacare Could Double Health Care Premiums: Aetna CEO
Posted by: CNBC ()
Date: December 29, 2012 01:57PM

Published: Wednesday, 26 Dec 2012 | 4:44 PM ET
By: Justin Menza


To provide all Americans with health insurance, premiums will have to rise to pay for it, Aetna CEO Mark Bertolini told CNBC's "Closing Bell" on Wednesday.

"If we're going to insure all Americans, which is a worthy and appropriate cause, then somebody has to pay for it," Bertolini said of the expected premium increases under Obamacare.

Bertolini said that insurance premiums could double in some places just on the basis of what types of policies people buy today.

He also said that when Obamacare is fully implemented, it won't start the way people had hoped and it won't be cheaper.

Over the longer run, the key to bringing down premiums will be controlling health care costs, he added. "It'll be fits and starts, but we'll get there," Bertolini said.

Higher premiums also will not necessarily mean higher margins for Aetna. "The people coming into the system will be sicker because they have not used services," Bertolini said. "So in the initial part of this program it will cost more to take care of people because they have been going without health care for so long."

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Re: Obamacare Could Double Health Care Premiums: Aetna CEO
Posted by: Justin Mensa ()
Date: December 29, 2012 02:07PM

Basically, they will enter the healthcare system and be required to take physicals to build a comprehensive medical records. The higher costs won't be because they're sick. Those people were already being treated outside the private insurance system.

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Re: Obamacare Could Double Health Care Premiums: Aetna CEO
Posted by: Your DR ()
Date: December 29, 2012 05:36PM

Boo hoo. Another multi-millionaire health care CEO upset that someone might break up his business model of selling insurance only to people who aren't likely to use it. Oh no, he might actually have to sell his product to people who might use it, meaning less profit for him. I feel for him. Not.

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Re: Obamacare Could Double Health Care Premiums: Aetna CEO
Posted by: dope ()
Date: December 29, 2012 07:25PM

Your DR Wrote:
-------------------------------------------------------
> Boo hoo. Another multi-millionaire health care
> CEO upset that someone might break up his business
> model of selling insurance only to people who
> aren't likely to use it. Oh no, he might actually
> have to sell his product to people who might use
> it, meaning less profit for him. I feel for him.
> Not.

You don't understand the insurance business, do ya?

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Re: Obamacare Could Double Health Care Premiums: Aetna CEO
Posted by: I dont support Obama care! ()
Date: December 29, 2012 07:32PM

Your DR Wrote:
-------------------------------------------------------
> Boo hoo. Another multi-millionaire health care
> CEO upset that someone might break up his business
> model of selling insurance only to people who
> aren't likely to use it. Oh no, he might actually
> have to sell his product to people who might use
> it, meaning less profit for him. I feel for him.
> Not.


I agree but what right does the government have to force ANYONE to buy health insurance?? Especialy since statements like this one mean that insurance is NOT going to get any cheaper. In fact, the cost is only going to keep going up. Im not saying that health care should free but it is exspensive and does have an impact on the cost of insurance.

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Re: Obamacare Could Double Health Care Premiums: Aetna CEO
Posted by: Not what we learned at all ()
Date: December 29, 2012 07:55PM

Your DR Wrote:
-------------------------------------------------------
> Boo hoo. Another multi-millionaire health care
> CEO upset that someone might break up his business
> model of selling insurance only to people who
> aren't likely to use it. Oh no, he might actually
> have to sell his product to people who might use
> it, meaning less profit for him. I feel for him.
> Not.


His business will be fine. Your wallet however will suffer unless of course the government is paying for yours. He basically alluded to having managed health care which makes the quality of care for everyone go down but you ignored that part too

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Re: Obamacare Could Double Health Care Premiums: Aetna CEO
Posted by: Obama isnt even a good actor! ()
Date: December 29, 2012 08:06PM


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Re: Obamacare Could Double Health Care Premiums: Aetna CEO
Posted by: hesright ()
Date: December 29, 2012 08:43PM

he must be right. We should just keep 45 million people uninsured - great idea. US has the highest care of cost and one of the highest % uninsured so why ruin a good thing right.

Jesus would want the uninsured to remain uninsured.

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Re: Obamacare Could Double Health Care Premiums: Aetna CEO
Posted by: no diff ()
Date: December 29, 2012 08:50PM

Obamacare - $2000 deductible
Romneycare - $2500 deductible

tax on uninsured
higher higher premiums
penalties on business
Romneycare: no surcharge on wealthy (only significant difference)

Give me a real candidate who would really oppose mandatory insurance, and he would have my vote.

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Re: Obamacare Could Double Health Care Premiums: Aetna CEO
Posted by: trogdor! ()
Date: December 29, 2012 09:11PM

The US subsidizes the rest of the world's medical care by subsidizing the pharmaceutical industry.

US Citizens pay 50% more for the exact same drugs as the rest of the world

http://www.cbo.gov/publication/15590

Why? Because governments with socialized medicine mandate that if the drug costs more than a certain price point, it won't be sold/used at all in their country. So the drug companies make the sale at the lower price and then jack up the price in the USA.

That will end soon enough.

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Re: Obamacare Could Double Health Care Premiums: Aetna CEO
Posted by: bill wilson ()
Date: December 29, 2012 09:44PM

I am sure the government can run our health care system. Just look at the super job they have done with the Post Office, Social Security, Medicaid, Medicare and airport screeners.

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Re: Obamacare Could Double Health Care Premiums: Aetna CEO
Posted by: okie ()
Date: December 29, 2012 10:19PM

HMOs run healthcare. Instead of just writing insurance policies and paying off on claims, they own medical care assets. Their markup is embedded in all the various stages of care, such as doctor's office visits, pharmacies, urgent care, diagnostic testing and imaging, and so on.

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Re: Obamacare Could Double Health Care Premiums: Aetna CEO
Posted by: PPO ()
Date: December 30, 2012 12:13AM

okie Wrote:
-------------------------------------------------------
> HMOs run healthcare. Instead of just writing
> insurance policies and paying off on claims, they
> own medical care assets. Their markup is embedded
> in all the various stages of care, such as
> doctor's office visits, pharmacies, urgent care,
> diagnostic testing and imaging, and so on.


And their costs are correspondingly higher. Don't believe me, quote Kaiser and Aetna and see how they come out.

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Re: Obamacare Could Double Health Care Premiums: Aetna CEO
Posted by: Alias ()
Date: December 30, 2012 01:35AM

hesright Wrote:
-------------------------------------------------------
> We should just keep 45 million
> people uninsured - great idea. US has the highest
> care of cost and one of the highest % uninsured so
> why ruin a good thing right.

> Jesus would want the uninsured to remain
> uninsured.

According to the CBO, despite a cost of $2 trillion in the next ten years (revised from the initial $938 billion figure Obama was touting), Obamacare would still leave 30 million people uninsured.

I guess your Jesus will be happy.

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Re: Obamacare Could Double Health Care Premiums: Aetna CEO
Posted by: retard ()
Date: December 30, 2012 02:14PM

heright = typical liberal = moron

IQ of a worm

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Re: Obamacare Could Double Health Care Premiums: Aetna CEO
Posted by: wormytheclown ()
Date: December 30, 2012 03:26PM

this from politifact

"the Congressional Budget Office predicts that Obamacare will reduce the number of uninsured. Without the law, the CBO says there will be a total of 60 million uninsured Americans by 2022. With the law, that number will be only 30 million."

So conservative argument is now that The Affordable Care Act did not go far enough? Leaving 30 million uninsured is somehow worse than leaving 60 million uninsured? Or simply do nothing and leave 60 million uninsured - that is the best conservatives have for the US?

Guess that is why they lost the election. That and simply running to keep tax breaks for the top 1%. Its a shame the so called conservatives cannot see that never offering any solutions just gridlock is a losing strategy.

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Re: Obamacare Could Double Health Care Premiums: Aetna CEO
Posted by: ex-Lester ()
Date: December 30, 2012 03:30PM

okie Wrote:
-------------------------------------------------------
> HMOs run healthcare. Instead of just writing
> insurance policies and paying off on claims, they
> own medical care assets. Their markup is embedded
> in all the various stages of care, such as
> doctor's office visits, pharmacies, urgent care,
> diagnostic testing and imaging, and so on.

The handful of HMO's have essentially become the market. There's limited gain from switching insurers to HMO's as people used to do in the early 90's.

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Re: Obamacare Could Double Health Care Premiums: Aetna CEO
Posted by: tomahawk ()
Date: December 30, 2012 03:33PM

no diff Wrote:
-------------------------------------------------------
> Obamacare - $2000 deductible
> Romneycare - $2500 deductible
>
> tax on uninsured
> higher higher premiums
> penalties on business
> Romneycare: no surcharge on wealthy (only
> significant difference)
>
> Give me a real candidate who would really oppose
> mandatory insurance, and he would have my vote.

Ron Paul.

Oh, wait, he wasn't a "real" candidate, because he had wierd ideas like freedom and not assasinating his own citizens with robot planes. Your loss. Enjoy your Obamacare.

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Re: Obamacare Could Double Health Care Premiums: Aetna CEO
Posted by: Not what we learned at all ()
Date: December 30, 2012 04:08PM

wormytheclown Wrote:
-------------------------------------------------------
> this from politifact
>
> "the Congressional Budget Office predicts that
> Obamacare will reduce the number of uninsured.
> Without the law, the CBO says there will be a
> total of 60 million uninsured Americans by 2022.
> With the law, that number will be only 30
> million."

Funny how you left out the part about how it will add trillions to the deficit

> So conservative argument is now that The
> Affordable Care Act did not go far enough?
> Leaving 30 million uninsured is somehow worse than
> leaving 60 million uninsured? Or simply do
> nothing and leave 60 million uninsured - that is
> the best conservatives have for the US?

So its better to make care WORSE for 200+ million Americans then when it starts to get rationed like what happens everywhere else in the world and lose countless numbers of jobs from medical manufacturers that have started to go overseas because of taxes in the bill.

Uninsured have never been denied care either. You could have saved money and just given a voucher for a personal health care plan to the uninsured as well would have been cheaper and not screwed everyone else.

> Guess that is why they lost the election. That
> and simply running to keep tax breaks for the top
> 1%. Its a shame the so called conservatives
> cannot see that never offering any solutions just
> gridlock is a losing strategy.

Nice talking point. They did offer solutions, their solutions just didnt include sacrificing the financial future of the country to buy the election with free stuff.

Obamacare is a horrible bill that he couldnt even pass without buying votes during his essential super majority. Its the height of everything wrong with the country. No one read the dam thing and Dems were for it to be partisan hacks.

There were legitimate reforms that could have happened to improve the system this was not it. Doing something isnt always better than doing nothing.

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