Health insurance rates to rise, industry group claims
WASHINGTON (CNN) - Health insurance premiums for the typical American family will increase by another $4,000 by 2019 under a key Senate reform plan, according to a new industry trade group analysis.
The report raised new questions about the political viability of the 10-year, $829 billion compromise bill drafted under the guidance of Senate Finance Committee Chairman Max Baucus, D-Montana.
The Finance Committee is expected to vote on the plan Tuesday. The vote represents a potential turning point in the health care debate. Baucus' committee is the last of five congressional panels to consider health care legislation before debate begins in the full House and Senate.
The report from the group America's Health Insurance Plans concludes that, under the Baucus plan, the costs of private health insurance would rise by 111 percent over the next decade. Under the current system, costs would rise by 79 percent, the report claims.
Premiums for individuals could rise by an extra $1,500 if the Baucus plan is implemented, the report states.
The report says premiums will rise faster under the Baucus plan in part because it doesn't do enough to require individuals to purchase coverage. A failure to draw enough young, healthy people into the insurance system would drive up rates for everyone else, it concludes.
At the same time, a proposed tax on employer-sponsored high-cost "Cadillac" plans could result in higher premiums for many private consumers, the report claims. It also highlights likely cost-shifting due to Medicare cuts and an array of new taxes and fees on industries tied to the health care sector.
The White House blasted the report Monday, calling it inaccurate and self-serving.
"This is a self-serving analysis from the insurance industry, one of the
major opponents of health insurance reform," White House spokesman Reid Cherlin
said.
"It comes on the eve of a vote that will reduce the industry's profits.
It is hard to take it seriously. The analysis completely ignores critical
policies (that) will lower costs for those that have insurance, expand coverage
and provide affordable health insurance options to millions of Americans who
are priced out of today's health insurance market or are locked out by unfair
insurance company practices."
Finance Committee spokesman Scott Mulhauser called the analysis "a health
insurance company hatchet job, plain and simple."
The analysis from America's Health Insurance Plans, first reported by the
Washington Post, was conducted by the firm PriceWaterhouseCoopers.
–CNN's Dana Bash, Dan Lothian and Alan Silverleib contributed to this report
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You never get something for nothing. You pay for your healthcare now. What are you going to get with this bill? You will get to pay more so that the 10 million people who you already pay for in the form of hospital bills will go up. Wake up.
Well, duh. You think they will rise?
The only way to prevent this is to have a public option.
Stinkle Barry does not care what it will cost the average American family. This is not about health care. It is about control. Japan has socialized medicine. Citizens are required to have their waste (beltline) measured every year. If they exceed the "standard", they are required to attend weight management counseling. Soda, sugar and fat taxes will come the Bo Bo's health plan, also.
Bo Bo will bankrupt you into a healthy lifestyle.
So where are all the people fighting and marching with the insurance companies now. Where are these idiots that were at the rally's crying about it's unfair to the market. This is how they re-pay you they are going to raise your rates even higher. I would love to see their response to that. You allowed all of these rich people to influence you who can pay for anything that ailes them. You allowed them to use your prejuidices and emotions to fight against something that would have benefit you.
So doing nothing means that the 85% of Americans with health insurance would pay 79% more over 10 years, while adapting 'reform' raises the cost 111%. How does this rein in costs? Oh I forgot, the objective is a massive welfare giveaway to the Democratic base, minorities and illegals on the backs of those of us who actually have jobs, work hard and try to make ends meet.
do away with greedy insurance companys pool money into one box cheaper and cuts cost in the long run
More scare tactics. It's unfortunate that the only ones who will fall for this is the no brained right wing.
Actually, without a public plan, there is nothing to keep the industry from raising rates. As the proposals in the Baucus plan go into effect, the insurance industry will pursue other means to maintain and expand profits. They always have and always will. The Congresspeople are beholden only to lobbyists. The changes are going to ultimately be impotent without a public option.
Why does CNN report this stuff without going into detail about WHO is sponsoring it? Adding this, "according to a new industry trade group analysis" does not suffice. How about a little investigative journalism folks? Maybe the article could have noted how much money the insurance industry pays to PriceWaterhouseCoopers. Then it could have looked at who sits on the board at America's Health Insurance Plans. Then it could have asked why these folks think they know more than the CBO.
Stop being so lazy simply to fuel fires, intensify positions and raise readership! Do your homework BEFORE filing the report.
Of course. Although the democrats keep telling you, and you want to believe it, there is NOTHING that is free.
Until you remember what your parents told you and stop believing what Obama, Pelosi and Reid tell you, then you will continue to be duped into making poor decisions, like electing Obama.
And what are the Democrats going to do to reduce Health insurance premiums?? All we have heard is the rest of us will be paying more in taxes to pay for those who want insurance and will pay nothing for it. Sorry but the 53% of us who actually pay income tax, just cannot afford to pay for the 47% who don't pay any income tax, but scream the loudest for everything. Time for everyone to earn their own living and quit sucking off the rest of us.
Where is all the liberal commentary on this article? Come on guys, rationalize this away somehow.
Are you really surprised that health insurance companies are doing this? This is why a public option is need to keep these companies in check. They have no real competition they are all the same!
CNN ,
You fell to report that this study was done by the health insurance industries whose aim is to KILL the bill.
Conflict of interest.
Good reason for the DEMS to go all out for public option.
Well, there you go. We tried to compromise with the Repubs, and it made the health bill worse. It's almost impossible reason with unreasonable people.
Insurance companies are a direct threat to the WELFARE of American citizens, thereby making them unconstitutional. We need a PUBLIC OPTION NOW!!! Screw capitalism, people are dying!!!
How much would Health insurance premiums for the typical American family increase if we do nothing until 2019 ?
So are they saying rates WON'T rise if health care reform is not enacted? They've risen by double digits almost every year for the past 15 years! This is just another scare tactic by opponents of reform.
Yes, now lets here from all the whining left-wing liberals who thinks that the CBO's analysis is right and the healthcare industry is wrong. What a bunch of idiots, like lemmings to the sea. If a public option passes I can't wait to laugh at all of the liberals when they see how tiny their paycheck will be when Washington starts taking out their hard earned money to cover the cost of thie elephant.
What an "appropriate" time for this report to surface! It's just another "ploy" from those who are making TONS of money off of the innocent American citizen, to bash the new healthcare proposal! This is ONE MORE REASON why we MUST HAVE a PUBLIC OPTION!!! The insurance companies, no doubt, will attempt not only to scare their clients, but pull out all of the stops to do EXACTLY what the CREDIT CARD COMPANIES have done to us! In the meantime, I have NO DOUBT we will have healthcare reform, and I truly hope and pray that there will be a PUBLIC AUCTION in the bill!!!!
Anyone who would believe anything the insurance industry has to say about health care reform is a fool.
If we're to give free health insurance to people who can't afford it, that money has to come from somewhere. You can bet it's going to come from taxpayers and those currently insured.
Socialized medicine has caused tax rates to rise to 50% in Europe. And the dems think that's a good idea???
Why is everything a "NO" with the republicans? is there so much hatred among them all-it truely shows their color's it's not the 1st for them they just don't know when to stop when being defeated- all them old heads should go on now and retire and M.Steel all they are doing is just using him against Obama to make him look like a fool and they are doing a good job of it-we need to have unity and work together but they don't have any intentions on doing that-they just player haten and this will cause them to lose their elections, they only bought it on themselves and I see why. If they keep this up they will surely fail and as for me they have already torn their drawers.. They are all about nothing doing wrong for they better watch it -what goes around comes around and they will surely get theirs.
And what might an independent analysis conclude?
This is on a different subject. I am very disappointed in Barrack Obama getting the nobel peace prize. He did nothing to deserve this award. They couldn't come up with one person who actually deserved it? Obama getting this award like this makes me sick.
This report was written by the bad guys that Health Care Reform is meant to reform. So it means nothing.