Illinois submits Obamacare insurance premium increases to feds.

[Snake]

The Illinois Department of Insurance said Wednesday it has submitted rate increases to the federal government that for some types of plans average 43 percent to 55 percent.

The Center for Medicare and Medicaid Services will decide rates. But the numbers released Wednesday confirm the fears of consumers, who’ve already watched a number of insurance companies withdraw from the Obamacare exchange because of financial losses, limiting choices as people prepare to enroll for 2017.

Rates could increase by an average of 44 percent for the lowest-priced bronze plans, 45 percent for the lowest-priced silver plans and 55 percent for the lowest-priced gold plans, according to a preliminary analysis released by the state Wednesday.

http://www.chicagotribune.com/business/ct-obamacare-illinois-rates-0825-biz-20160824-story.html

[Zambroski]

A planned destined for failure coming to fruition around the country.

i just wonder at what level of failure we will let it get to before either changes and improvements or made, or, it is completely scrapped.

[Anler]

I would say everyone is in for a massive increase. So what happens when employers decide they can't afford these drastic increase anymore? Hmmm?

[Zambroski]

Just now, Anler said:

I would say everyone is in for a massive increase. So what happens when employers decide they can't afford these drastic increase anymore? Hmmm?

They head out of country.

[Anler]

1 minute ago, Zambroski said:

They head out of country.

Or they start passing on the costs to the employees. Or they cut coverage. Or raise deductibles. Any way you wanna look at it, it's coming. Obamacare or not. You can dissolve Obamacare tomorrow and it doesn't lower premiums for good coverage. 

[BOHICA]

6 minutes ago, Anler said:

I would say everyone is in for a massive increase. So what happens when employers decide they can't afford these drastic increase anymore? Hmmm?

Employees will unionize and employers in response will raise the cost of there service to meet the obligation of the contracts they negiotiate union

[Zambroski]

Just now, Anler said:

Or they start passing on the costs to the employees. Or they cut coverage. Or raise deductibles. Any way you wanna look at it, it's coming. Obamacare or not. You can dissolve Obamacare tomorrow and it doesn't lower premiums for good coverage. 

Reality is they cut employees and or make more part time positions along with passing costs down accordingly.  My last firm I was doing business with laid of 40 people immediately after the bill was passed to "break even".  Guess who got the notices?  

"Would the driver of the silver Toyota Echo please report to HR next...."

[Anler]

1 minute ago, BOHICA said:

Employees will unionize and employers in response will raise the cost of there service to meet the obligation of the contracts they negiotiate union

Haha! Good luck. Unions are dying all over the country. Pension plans are becoming insolvent. It's all going to blow up in our lifetimes. 

[Zambroski]

3 minutes ago, BOHICA said:

Employees will unionize and employers in response will raise the cost of there service to meet the obligation of the contracts they negiotiate union

Good thing is, they'll all be offered their same job again.............in Mexico...for a fraction of the pay of course.  Cost of living being what it is down there.

[Anler]

6 minutes ago, Zambroski said:

Reality is they cut employees and or make more part time positions along with passing costs down accordingly.  My last firm I was doing business with laid of 40 people immediately after the bill was passed to "break even".  Guess who got the notices?  

"Would the driver of the silver Toyota Echo please report to HR next...."

Employers have been employing tactics to avoid healthcare costs for some time now. The "contract employee" has been a good way. Outsourcing has been another. But it is the number 1 roadblock for full time enjoyment. End the employer mandate and full time employment goes up big overnight.

Edited August 26, 2016 by Anler

[Cold War]

1 minute ago, Anler said:

Haha! Good luck. Unions are dying all over the country. Pension plans are becoming insolvent. It's all going to blow up in our lifetimes. 

Sooner than later.

Employer paid insurance and pensions are done. My wife's employer no longer offers a pension. My buddy works for the county , his union was selling him a $600 a month plan.

[Anler]

1 minute ago, Cold War said:

Sooner than later.

Employer paid insurance and pensions are done. My wife's employer no longer offers a pension. My buddy works for the county , his union was selling him a $600 a month plan.

Pensions are nothing but a Ponzi scheme. Govt needs to get out of the pension admin business asap. They are going to bankrupt the country. It's already happening.

[Zambroski]

Just now, Anler said:

Employers have been employing tactics to avoid healthcare costs for some time now. The "contract employee" has been a good way. Outsourcing has been another. But it is the number roadblock for full time enjoyment. End the employer mandate and full time employment goes up big overnight.

Indeed.  But the "contract employee" is a sticky proposition with the IRS (go figure), and even stickier with the HC mandates.  And outsourcing firms within the US still have the same HC mandates.

HELLO MEXICO!   Or other.

[Capt.Storm]

the boomers are getting old..including me.

it will get worse before it gets better..will take sometime for us to die off!

they can keep us alive for a long time but it cost money so get a second job for us retired old boomers!

[Cold War]

Just now, Anler said:

Pensions are nothing but a Ponzi scheme. Govt needs to get out of the pension admin business asap. They are going to bankrupt the country. It's already happening.

Yup. Anyone who is banking on a pension for retirement is going to be sadly mistaken.

[BOHICA]

5 minutes ago, Anler said:

Haha! Good luck. Unions are dying all over the country. Pension plans are becoming insolvent. It's all going to blow up in our lifetimes. 

Ibew mebership has been stable decades.  It will increase.  Hell teachers union i imagine has grown.  Certain unions may suffer but unions cover so much more then just things that can be done in mexico.

[Anler]

6 minutes ago, Zambroski said:

Indeed.  But the "contract employee" is a sticky proposition with the IRS (go figure), and even stickier with the HC mandates.  And outsourcing firms within the US still have the same HC mandates.

HELLO MEXICO!   Or other.

Lots of incentives to move out. Wages, taxes, hc, environmental compliance, worker safety, worker rights, etc...

[Zambroski]

Just now, Anler said:

Lots of incentives to move out. Wages, taxes, hc, environmental compliance, worker safety, worker rights, etc...

Yep.  Gov't regs and red tape are putting many at the tipping point.

[Anler]

Just now, Zambroski said:

Yep.  Gov't regs and red tape are putting many at the tipping point.

Which regs do you think should be abolished?

[Zambroski]

3 minutes ago, BOHICA said:

Ibew mebership has been stable decades.  It will increase.  Hell teachers union i imagine has grown.  Certain unions may suffer but unions cover so much more then just things that can be done in mexico.

Very true.  But most of these "US Soil" unions depend on government contracts or government pay in one form or another, even if it's third party.  Our economy cannot handle the extra deficit load to continue this path without more employee taxes coming in.  IE...growth in the private sector in the form of "career" positions. (Not starbucks baristas).

[Cold War]

GM should of been a wake up call for everyone.

[Anler]

2 minutes ago, Zambroski said:

Very true.  But most of these "US Soil" unions depend on government contracts or government pay in one form or another, even if it's third party.  Our economy cannot handle the extra deficit load to continue this path without more employee taxes coming in.  IE...growth in the private sector in the form of "career" positions. (Not starbucks baristas).

The unions would die next week without the govt. The fastest way to kill them is to repeal Davis-Bacon and prevailing wage laws. By LAW all govt funded public works project have to be paid prevailing wage. In most cases they are based on union wages and bennies. Repeal prevailing wage and every road construction company starts a non union division tomorrow. It's already happening. West Virginia just repealed prevailing wage. Wisconsin, Indiana and Illinois have had proposed it also. 

[BOHICA]

Just now, Zambroski said:

Very true.  But most of these "US Soil" unions depend on government contracts or government pay in one form or another, even if it's third party.  Our economy cannot handle the extra deficit load to continue this path without more employee taxes coming in.  IE...growth in the private sector in the form of "career" positions. (Not starbucks baristas).

Well just think when airline baggage handlers strike......  Pilots and stewardess have a sickout....  Guess what they get their health insurance premium increase and you get airplanes with less leg room due to the increase in the number of seats they put on a plane while charging you more.  

certain sectors are pretty strong on union membership....  Long shoreman for example....  Few years ago around xmas time had people worried as there amazon and walmart trinkets werent getting offloaded.  They got what they wanted or close to it in there contract.

[Zambroski]

2 minutes ago, Anler said:

Which regs do you think should be abolished?

Start with HC...in any form.  That should have never been a "right of employment".  Then look at the Dodd-Frank regs seriously.  Those are absolutely ridiculously complicated and hard for small-mid size companies to keep in compliance.  OSHA and WC compliance is way overloaded and WC rates have gotten ridiculous for the majority of 30-100 person groups with minimal risk codes.  What constitutes a FT or PT or Contractor/freelancer should be revisited also.  

Just a few.....

[Capt.Storm]

so socialism as we know it is not sustainable.. is that what you guys are saying?