Monday, April 21, 2014
Obamacare Ka-Ching . . . . Not!
Old joke. Never understood it as a child since no one I knew ever said ajar. A jar was something you put moonshine in.
So when is a sale not a sale?
When you don't pay the seller. (Don't confuse this with five finger discounts).
"Georgia insurers received more than 220,000 applications for health coverage in the Affordable Care Act’s exchange as of the official federal deadline of March 31, state officials said Wednesday.
Insurance Commissioner Ralph Hudgens, though, said premiums have been received for only 107,581 of those policies."
Georgia Health News
Less than half of those that applied during Obamcare open enrollment have actually paid for their purchase.
Yes, it is still early, and those that applied late still have a few weeks to pay their initial premium. What we don't know from this figure is how many of the 220k applied during October through December for a January effective date.
The deadline for paying the initial premium is long past.
The state estimated some 650,000 Georgian's were eligible for subsidies so the number of applications represents about a third of the eligible.
What we still don't know is:
• How many were previously uninsured?
• How many dropped existing coverage and replaced it with a subsidized plan due to lower premiums?
• How many bought because their existing coverage was dropped due to Obamacare?
• How many bought plans outside the exchange?
But are we making progress?
"Cindy Zeldin of Georgians for a Healthy Future ... [says] the enrollment number in Georgia “is a good start. We are encouraged.”
“The number of uninsured is going down"
How does she know the number of uninsured is dropping?
So many unanswered questions.
One wonders if the low information crowd will ever acknowledge that, in the big picture, Obamacare is a disaster.
Thanks to Henry Stern for this tip!