Quote
Originally posted by: forkushV
That's why I don't present editorial content as actual news. DonDiego should consider doing likewise.
Originally posted by: forkushV
QuoteI don't know. For example, the statement " Industry actuaries believe that those raises will not be enough to offset high claims costs." Is that from the report? Or is that from the editorialist being paid off by Big Pharma? Or is that from the editorialist working for the extremely right wing American Enterprise Institute? Or was that phrase insisted upon by Rupert Murdoch.
Originally posted by: DonDiegoSo then, . . . apparently no factual error in the comments on the Obamacare Co-Ops financial difficulties...
That's why I don't present editorial content as actual news. DonDiego should consider doing likewise.
The subject of the sentence is "Industrial actuaries". Until it is demonstrated otherwise DonDiego believes it is the opinion of health insurance industry actuaries.
But here's a fact:
The rate increases approved for New York Obamacare Insurers were announced on Friday 31 July.
The Health Republic Insurance Co-Op, which is the subject of the opinion cited by forkushV, had requested an average increase of 14.36%; the New York Department of Financial Services approved a 14.06% increase.
And here's another opinion [note i]:
The New York Health Plan Association, a trade group that represents many of the insurance companies, expressed concerns over the new rates, questioning the methodology D.F.S. used to make its ruling.
“The premium rate approvals announced today by the Department of Financial Services continue an artificial suppressing of rates merely to support the claim that New York is keeping premium increases to ‘below the average increase in health care costs,’ which doesn’t make sense,” H.P.A. president and C.E.O. Paul Macielak said in a statement. “The approved rates do not, in many cases, accurately reflect the financial status of plans as indicated in their rate submissions. Plans’ requests were reasonable and justified.”
Ref: capitalnewyork
note i: So the industrial actuaries' opinion is shared by the trade group representing the insurance companies, which asserts that the State of New York is intentionally approving lower rates for publicity. No surprise. But the point is it's all just a projection.
Poor old DonDiego would prefer to report "news". But there is no "actual news", because 2016 hasn't happened yet.
If the Health Republic Insurance Co-Op persists in charging rates under which it loses money, . . . eventually it will have lost enough to go bankrupt and be unable to repay the federal loans by which it was established. This news would likely make all the reputable newspapers.
