| MARKET ROUNDUP | |
| Dow | -117.59 to 16,906.62 |
| S&P 500 | -13.94 to 1,963.71 |
| Nasdaq | -60.07 to 4,391.46 |
| 10-YR Yield | -0.052 to 2.565% |
| Gold | +$3.70 to $1,320.70 |
| Crude Oil | +$0.01 to $103.54 |
We all know the cost of health care and health insurance is surging. But just how much are those costs rising? That’s where a brand new study from Weiss Ratings comes in.
We reviewed data from 784 health-care insurers around the nation. The sample included both private insurance firms and those with publicly traded parent companies, companies that took in a total of $450 billion in premium income last year.
Here’s what we found happened in the first quarter of this year, a period where Obamacare shifted into high gear:
 Overall premiums rose a hefty 5.9 percent, or $12.44 per month, to $224.28. That followed a 2.7 percent increase in 2013.
These rising costs almost certainly reflect some impact from Obamacare, and I doubt we’ll see any change in trend. The Wall Street Journal recently evaluated the early filings that are starting to trickle in from insurers for 2015. The news isn’t good for health care consumers.
Many insurers are asking for another round of large premium hikes. In nine out of ten states, the largest insurers are looking to raise rates by anywhere from 8.5 to 22.8 percent.
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| Many insurers are asking for another round of large premium hikes. |
One analyst cited in the report, Richard Evans of SSR Health LLC, expects another 5.4 percent in medical costs this year. That means insurers are likely to have little trouble justifying hefty premium hikes to regulators and insurance commissioners — ensuring that the lion’s share of those hikes will stick.
We’ll have to see how the Federal Reserve reacts to ongoing inflation in health care. And we’ll have to see how employers behave in response.
Does this news push the Fed to hike rates sooner than it otherwise might?
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“Do more employers drop coverage altogether or cut worker hours to offset their own surging health care expenses?” |
Do consumers demand higher wages to compensate for their increasing costs?
Do more employers drop coverage altogether or cut worker hours to offset their own surging health care expenses?
Let me know what you think in the comment section. I’m also eager to hear of your own personal experiences — are you facing rising health care costs? Have you essentially been priced out of the market for health insurance? Are there any money-saving recommendations you can make that might help your fellow investors fatten their bottom lines? Here’s where to share them.
| OUR READERS SPEAK |
Yesterday’s piece on the NSA and the amount of unrelated material swept up in terrorism investigations generated a ton of comments on the website. You also shared some useful tips on how to keep information somewhat more private in today’s interconnected world.
Reader Butch B. said: “Why is the NSA holding on to personal information of innocent people when those people are in no way a threat to national security? The information should be scanned for real threats (vs. perceived threats) and if no threat exists, the information should be dumped. Ask the IRS how, they seem to be the experts at getting rid of information.”
Reader Gilbert W. said we’re not headed toward a Big Brother society. He maintained we’re already there. His additional comments: “The ends are the same, just the means are different. Rather than a screen with Big Brother’s face everywhere, we have PCs, smart phones, televisions and cars watching or recording our every move. Political correctness is the precursor to Newspeak. I only hope there is no Room 101.”
Meanwhile, Reader Bev said she was “more concerned about business and Internet companies collecting my personal information and selling it than the government screening my phone calls and e-mails to check for terrorists.” Her rationale: “I would rather not get blown up than not have the government search e-mails.”
Bev provided some of her best advice for preserving your privacy: Refuse to give your cell-phone number to Internet services and businesses … pay cash whenever possible except for business expenses … make internet purchases over the phone when possible instead of on the computer … refuse to provide personal information on surveys … and avoid saving your log-in and password information on your computer.
You can find other suggestions that were posted in response to a May Money and Markets column I wrote here. And if you have additional ones to share, by all means go to our comment section and add them to the discussion.
| OTHER DEVELOPMENTS OF THE DAY |
 The Labor Department’s latest “JOLTS” report adds to evidence the job market is improving. It showed 4.6 million job openings in the month of May, the most in seven years.
Roughly 2.5 million Americans quit their jobs, continuing a pattern of steady increases for the past several quarters. That’s actually good news from an economist’s perspective. The reason? It shows workers are confident enough in their ability to find new jobs that they’re less afraid to quit their lousy old jobs and start hunting for something better.
It tells how the president of Ecuador may call his creditors “true monsters” … but he had no trouble getting them to pony up $2 billion for his bonds at sky-high prices and rock-bottom yields. And the home county of Orlando, Florida had no trouble selling $64 million in unrated bonds to fund a venture that will turn human waste and sewage into fertilizer. Talk about a “crappy” deal! Har-har.
Reminder: You can let me know what you think by putting your comments here.
Until next time,
Mike Larson
Mike Larson graduated from Boston University with a B.S. degree in Journalism and a B.A. degree in English in 1998, and went to work for Bankrate.com. There, he learned the mortgage and interest rates markets inside and out. Mike then joined Weiss Research in 2001. He is the editor of Safe Money Report. He is often quoted by the Washington Post, Reuters, Dow Jones Newswires, Orlando Sentinel, Palm Beach Post and Sun-Sentinel, and he has appeared on CNN, Bloomberg Television and CNBC.
{ 52 comments }
My policy which has my two children and myself went up 20% to 1372.00 per month.
Bloody hell,Greg, 1372 per month, you must be earning 1 mil,per year.being a UK, that is ridiculus
Oh bye the way,Greg,does that include the funeral
Did you jump off a bridge yet?
My premiums only went up .5% but my plan was changed and my deductible went from $500 to $3500 per person. So premiums are only part of the equation to be evaluated.
My comment for you comes in the form of a Question;
Chase, Wells Fargo and all the other bank fines;
Where do they go?
Do they go to the Federal Reserve to be held for the next bailouts? The money certainly does not go to the losers, the end users, aka us suckers.
I purchased major medical with a $3000.00 deductible for myself with no one else on the policy, from Anthem Blue Cross here in central Virginia,. Coverage started Jan. 15, 2008 at $169 monthly, including dental and vision. Every year since the premium has increased. $169 , $250, $325, $375, $424, and now $497. I’m going broke paying for it and don’t know how much longer I can continue. Went to the dr, 1st time in 2013 for a sinus infection and the cost was all mine. No other visits, no pre-existing conditions.
Health Insurance is a joke!
I have a family of 6 and monthly premiums of $700. What do I get for it? a major medical plan that allows me access to pay more money with every visit until I reach my deductible of 3k per person. Ah yes, the benefits of belonging to a club that has no benefit. Meanwhile, all the medical bills move to collection. Since both my wife and I are employed we are also forced to use what our employer gives us. This simply being a result of the affordable healthcare act! I am told that we will be in a fee market in November. Time will tell…
Of course prices have to go up! How elase to pay for a $13 million lpus raise for the CEO of Aetna. Oh, I almost forgot. It isn’t the CEO’s income that causes prices to rise, it is only if we raise the pay for the average worker. I keep forgetting. CEO”s need a raise more than their workers.
In terms of the health care space, what is your take on the following stocks: CAH, AET,UNH,
WLP, UHS, ESRX, & JNJ,
I am invested in Vanguards Health Care fund and Obama Care is assuring
a very nice return for me and thousands of others in this fund. Ted
My health insurance premium has increased 100 % from $ 250 a month to $500 a month for a family plan. The plan is serviced by Aetna for Carilion Clinic which is a self insurer being a hospital.
I had insurance for my wife, and I was not insurable due to a prior condition. My wifes insurance went up from $296.00 to $503.00 per mo for the same coverage. I went to the Obamacare website and saw that if I took more than $25,000.00 from My IRA I would lose most of it to the health insurance. If I took the $60,000.00 I need to take my insurance would be approx $875.00 – $933.00 per mo and have at least $4250.00 – $5000 deductible. They do not take into account how much my bills already are, and I cant afford it. I knew this would not work out well when my wifes insurance jumped 70%. I cant insure the minor child due to cost, and will probably have to drop my insurance as well when I need to earn more money. This just doesn’t make sense, and if they made everyone get health insurance on their own like I have to they would be as pissed off as I am. It’s fairly obvious that the middle class is paying for the poor. Just go to healthcare.gov and check prices for two people at $25,000.00 and $60,000.00 the lower income pays $41.00 per mo and has a $1250.00 deducible.
I am an independent contractor so I glom onto my wife’s work policy as a covered spouse. Our coverage cost went up 88% for the 2014 contract year. One of the many reasons the Democrats wanted Obamacare was to increase the number of union/government healthcare workers. As government grows into each and every hospital and clinic under Obamacare…….UNIONS and dues (big $$) will follow (always follow the money!!). And wherever unions go…..the cost to the public will go thru the roof….and it is already happening. But it is even more insidious. The unions collect dues….the dues largely go to the Democrats……the Democrats give the unions/government workers favorable legislation, big salaries, pensions, benefits, etc., etc., etc. for the payola……and the circle keeps going round and round. It is corrupt to the core and leads to one party rule. Unions are fine in a coal mine. But they should never have been allowed into our government agencies. Even FDR state such………. but his own party did not heed his word……..and now we are paying the price with massive corruption, i.e., Lois Lerner and the IRS. And it will get worse, much worse.
Geeze Ferd – I am so sorry all of your motivation to do research was destroyed by the school you went to.
So your coverage went up 88% for your 2014 contract year? Wow! That a lot! 88%, wow.
I read your post and am flabergasted, not to mention a trifle confused.
An 88% increase you say is because Democrats, To Quote:
wanted Obamacare was to increase the number of union/government healthcare workers. As government grows into each and every hospital and clinic under Obamacare…….UNIONS and dues (big $$) will follow (always follow the money!!). And wherever unions go…..the cost to the public will go thru the roof….and it is already happening. But it is even more insidious. The unions collect dues….the dues largely go to the Democrats……the Democrats give the unions/government workers favorable legislation, big salaries, pensions, benefits, etc., etc., etc. for the payola
Sorry for being a dunce…I was giving truthful answers to this website when I belatedly realized this website has zero interest in any truth. Anyway I do have some honest work to do…Bye
This is a total travesty. Because these companies had to take patients with existing conditions. They just created their own way of covering their butts. Ted Kennedy wanted a
true healthcare system that covered everyone, O’Bama sold his sole to the insurance companies. His vision was right, he just caved to the Republicans, AMA, drug companies etc. It has worked in Canada, and it can work here. Why not implement a price freeze on all premiums?
Every person should be able to pick what they want to be insured for. If you are male why do you need maternity care, pregnancy test, orvarian cancer, etc. Have a list of alternative health care options to chose from. It then is the responsibilty of the person purchasing the health insurance not the Government to determine their healthcare plan.
NY State had a great partially subsidized policy call Healthy NY. The new regulations outdated this policy which was discontinued. My policy we rolled over into another “Obama Care Policy” raising the deductible to $4,000.00 and I could not afford the premiums for the more comprehensive policy (over $500.00/mo. for individual). Also, my policy only covers 50% and I have to pay 50% of all medical expenses. It does not cover any pharmacy until the deductible is reached. This is a pathetic policy that was “better” and “more helpful”. As a HIICAP (NY Insurance) counselor and former insurance agent, I analysed policies for clients. I am fully aware of all the problems with these new policies that have undermined consumer’s ability to get good quality care and afford their premiums. Many clients in my county (Steuben) as well can not get care as providers do not accept their insurance as well.
These policies are touted by our local Congressman’s representative as helpful. Who are they kidding????????
I have to laugh when I read about all the huge healthcare rate increases and then immediately following up with a mention of ” obamacare”. It’s as if things were so great in days gone by when the trajectory for health care costs was as bad if not worse. Another factor which is no doubt skewing the figures is many people who simply put off much needed medical care are now finally getting the relief they need without bankrupting themselves. This should taper off in time, if the selfish majority doesn’t dismantle “obamacare” I recently qualified for medicare which makes me feel as lucky as if I was Canadian. Gotta love the government run, low overhead system.
We had only five million people in the US back in 1776 at the beginning. Now we have over 300 million. The constitution was written for a small population who mostly grew their own food and made their own clothes and were very frugile. Now our world is the complete opposite. No one, but no one can successfully be president of this country any more. The freedoms of a few people back in 1776 cannot safely be duplicated in a world where nearly seven billion people worldwide all hunger for the good life.
And your point is?
I live in NY and last year my health insurance rates doubled and I went from a PPO to an HMO. I changed to a health insurance coop which is high deductible and I received a notice they are applying for approval to the state for a 25% rate increase. My home owners and auto policies are through the roof. The whole insurance industry is out of control.
On this we can agree, health insurance is totally out of control. A Dr. told me about a CEO of A large health care company who was supporting two families while married to two wives @ the same time and who had over $1 million transfered from Calif. to OH. so the main corporation could have more money. Geeze, I wonder who that was? Google Blue Cross or was it Blue Shield? Oh and oops! According to some that was Obamas fault. Sure it was…
I asked my MD if he was seeing Obamacare patients he said yes and he had already been burned twice. He said the patients will say they are covered and when his office calls to confirm the insurance company will say yes. The problem is that they are required to confirm enrollment until the patient defaults on at least three payments. By that time the doc on this one case had performed $1500 worth of treatments (on this case some surgeries) and the insurance co. Refused to pay the doc because the patient was now no longer covered. Result: doc doesn’t get paid. He said it’s all in the small print. Sounds like license to “claw back” to me.
Sure, it was all a conspiracy to burn him, clearly the President has nothing better to do than to steal $1,500 from some Dr. in No-Where’s-Ville who is too clueless and lazy to file his paperwork correctly. Yep it’s all a big giant conspiracy against lazy Dr’s. You have to ask yourself; do you really want to be treated by Doc’s such as this lazy loser?
Employers who can will pass costs to employees in higher co-pays or increased participation costs. If it costs too much, hours will be cut and insurance.
Funny you should ask about employers cutting hours. I work in a hospital as a RN. We are CONTINUALLY getting days off w/o pay now. Before the “Affordable Healthcare Act/Obamacare” rarely did we have any days given off without pay. Now, to have a regular paycheck, we are having to use hours from our “paid time off” account that accrues per the number of hours we work. So, its a catch 22…cut our hours, less “pto” hours to use when we get a day off without pay. Many co-workers already have exhausted their pto and have less in their pay checks. Many are talking about not being able to pay bills and even now getting behind in their mortgages. Obamacare is a scourge on society AND the working MIDDLE class. P.S. Auto Ins. in the state of Michigan is outrageous too. I pay double what I used to pay not that many years ago. Even with an excellent credit rating and no claims. And auto ins. is MANDATORY in this state along with the health ins. Talk about racketeering! Its a FARCE.
Sorry hon but as I have mentioned…Obama has nothing to do with your sorrows. That would be in the baliwick of your bosses…why don’t you wise up & do some research? Do you honestly think Obama has anything to do with what happens in Michigan? Get real. You are easily fooled, sadly, too easily fooled. Obama has nothing to do with your problems it’s your Republican State Govt. Take nobody’s word for this, not even mine. Discover the truth on your own…
NSA SHOULD HAVE ALL THE I.R.S. E- MALE .
THEY HAVE MINE AND YOURS .
Mike-
I’ve been a subscriber for years, and agree with most of what you write. But I think you’re off base here on the topic of rising healthcare expenses.
As a small business owner (40 employees) I’ve endured double digit health insurance cost increases (12-23% increase depending on the year) for declining coverage benefits for 7 of the last 8 years. This year, our insurance costs went up much LESS, about 4% for the same benefits.
Look, I’m no Obama fan. But it’s an easy and cheap political shot to attack Obamacare because we saw an increase in insurance premiums- but honestly, this is the lowest increase in premiums I’ve seen. You could rewrite your article and praise Obamacare for keeping the increases in the single digits and you would be closer to the mark.
Caine
Larson saved me a ton of money with his warning on the Greek issue some years ago, so it is hard for me to be angry with him; even when he’s spouting nonsense. The fact is Obama controls nothing…He sure as hell doesn’t control the insurance industry. That is run by the same type of morally deficient people Goldman Sacks is loaded with. Anyone that thinks differently needs to increase their IQ or perhaps knowledge by reading a bit of history.
Obama doesn’t control any of the aspects to people are whining about, it is, always has been and always will be about the decisions your bosses make and the insurance companies; yet the ignorant keep screaming it’s Obama’s fault. Sheesh, I get so tired of the stupidity.
Instead of shooting at the lip why don’t many of you try doing some research to find out what the actual truth really is? Unless of course you have the brain of a parrot and can only repeat what others say, like most teenagers. Isn’t it time for some, if not all of you, to grow up?
For 75 years, it was said that Roosevelt’s New Deal saved capitalism. By softening the rough edges of the free market capitalism with reforms such as social security and unemployment insurance, FDR may have prevented adoption of much more radical changes.
75 years from today it is unlikely that anyone will think Obama saved market-priced medical care. Rather, he only prolonged it, and that will not be thought of as a good thing. In the developed world, market-priced medical care still exists only in the USA. It is only a matter of time until market-priced medical care joins communism, slavery, racial segregation and fascism as systems that no longer exist in developed nations.
The USA is the last holdout with market-priced medical care not because of any inherent conservative or free market ideology. Rather, as the wealthiest nation that ever existed we are the last ones who can afford it. Switzerland was one of the last advanced economies to abandon market-priced medical care. It is arguably a greater bastion of conservatism than the USA. Switzerland’s women were not granted the right to vote until 1971.
During the debate as to whether Switzerland would abandon market-priced medical care there was considerable concern about how it would affect the major Swiss pharmaceutical giants such as Hoffmann-La Roche (RHHBY) and Novartis (NVS) which was Sandoz prior to the merger with Ciba in 1996. However, it was then realized that the Swiss pharmaceutical giants made much of their profits in the American market.
The reason that no nation, including the wealthiest can allow markets to set the prices of medical care indefinitely is that demand for medical care is inelastic. Demand for a good or service is inelastic if a percentage increase in price results in a smaller percentage decrease in the quantity demanded. Basic economics tells us that sellers facing inelastic demand will continuously raise prices until prices reach the elastic portion of the demand curve. Consequently in every developed country in the world, all goods or services with inelastic demand have their prices regulated by government. Medical care in the USA being the only exception…”
http://seekingalpha.com/article/1647632
The cost of Health Insurance for our employees of a family owned community bank is another heavy burden against the bottom line. Then add the some 116 new regulations per month placed upon us to read and determine application to our model, the burdensome regulations foisted upon us cannot be supported. There is just too many government agencies building their own empires by generating regulations and employees none of which creates value to a failing economy.
Mr. Larson, you state in your article that “these rising costs almost certainly reflect some impact from Obamacare”. Really?!?! Where’s your proof? I would say that these rising costs reflect a major impact from the greed of the insurance companies and their mindless commitment to destroy the Affordable Care Act. I challenge you to prove me wrong. And I guarantee you that there will be hell to pay, if we go back to the days of insurance companies deciding who gets covered and who can damn well die on the streets for lack of coverage from pre-existing conditions.
Dear Mike Larson,
A while back you talked about the advantages of BDCs in looking for higher yields. What is your opinion of the safer ones like ARCC, MAIN, SUNS, GBDC, etc, in a rising bond yield market that you predict? Is there a place for them in a balanced portfolio? Or are they a short term play as long as rates stay low?
The insurance market is not much different from the banking sector: Licensed street robbery.
It is sad that the US political system does not allow a fundamental change away from employer provided health care. The US society is highly unsocial and egotistic despite the fact that there are plenty of religious people who talk about community and then go out and pursue their individual goals at the expense of others.
There are several better health care infrastructures around the globe. I like the Canadian and UK systems as well as the German system. They do not allow people to live without insurance. Then again, in those countries where people have much more of a sense of community there are fewer abusers because they have also a sense of responsibility.
Hoping for a good political leader,
yours truly,
Jo
I am semi retired as of last September. I got an individual catastrophic policy for myself because I was planning to work part time without provided benefits. The policy was $ 177/mo.
A couple months later they canceled it. They were happy to offer me a policy with more benefits but it would be over THREE TIMES the premium.
*I was able to add some hours to my work schedule and now get work provided policy. My employer only requires 20 hours/week to provide benefits. I am working 24 hours. That is slightly more than I wanted, but at least only pay about $150 /mo.
*I am okay for now. If I can get through for a couple more years, then I can get Medicare.
*My mother is elderly and her policy was canceled because she got a mailer that required her to respond. Fortunately, I noticed it and got her reinstated. It was a policy she had had for over 20 years.
*My daughter’s ehealth insurance policy was also canceled. I was able to get by with catastrophic policy for her because she is under 30. (they won’t allow for my age). For now, the cost increased by about $50/mo.
Obama care is worse than a BIG ZERO for me.
when i was a kid growing up in the 50’s, coke was 10 cents for an 8 ounce bottle. today that cost over $1 and it has no real sugar unless you buy the 12 oz bottle made for mexico. so yes things go up but with inflation playing a role in the cost. mexico and europe will not allow soda without sugar to be imported into their country yet we allow their people to come here. gotta love the big corporations making corn syrup and funding the politician for reelection. this system is headed south and i don’t mean border.
I feel a little like a Christian in the lions’ den commenting to a company that employs a political Neanderthal like Goyette, but what did you expect from health insurance companies, altruism ? I have said many times, including here, that the only real flaw in the “free” enterprise system is greed, and unfortunately, it seems like every corporation in America is lead by a CEO with a PhD in greed and/or stupidity. Law number 1 in the deal bidness – the only good deal is one that is good for both sides. I think the health insurance companies forgot that – if they were ever aware of the rule – the American corporate philosophy ? Those idiot consumers dare challenge my right to rape them financially for medical insurance, so I’ll just smash them with even higher premiums, Do any of you ever read Larry Edelson – he speaks pretty good English, and he seems to be the only one that is even aware of what history says about consumers who get tired of being crushed day after day after day. October 1917 happens, people. I cannot tell you how much it would ruin my day to look out at my firing squad and see the people who used to clean my toilets and mow my yard holding rifles. You think it can’t happen – open your lungs and let your brain breathe – there is a solution between health insurance no one can afford and armed rebellion. Let’s try this novel approach – get rid of health care waste and fraud, redudant medical tests, unnecessary treaments. medication that costs more than gold, millionaire doctors – we have something like 16 of them here in Dallas – all of the results of the sins of greed. Yes, Ralph, it is the only workable solution – get health care costs reasonable IN ALL ASPECTS – but you are correct, it will never work, Too hard, requires too much courage on the part of politicians – what’s left ? The same thing all of Europe went to years ago – socialized medicine. It is a fait accompli, folks, and the medical care industry has only itself to thank.
I am the administrator for our health care plan for our company. We are a small group in New York City and have our insurance with Aetna. We have been with Aetna for several years and renew every January 1st. We received a notice from them recently that they are filing for an increase of over 25%. This is what Government intervention is very good at………driving costs UP!
I am retired from a major telecommunications’ company and my health care premiums were less than 60.00 a year. I was informed in February that the company was forcing all Medicare eligible retirees’ to go on a private exchange for future health care insurance this Fall. I’m pretty sure I’ll never see annual premiums of 60.00 again.
The “boon” of Obamacare! Our government keeps selling us a package of lies and expecting us to keep on swallowing them. Wonder what will happen to our premiums now that we have a manufactured immigration wave on our southern border of children who will demand benefits! Time to write your Congressmen folks, if you haven’t already.
My wife is a teacher and her premium went up 70% for 2014 with increase deductibles.!! We are waiting to see what 2015 holds for her. Incidentally, she is the only one on that policy as I am on Medicare with meds from the VA.
Hi Mike I think it is obvious that aca was a hand out for health insurances and their maing goal is to Kick a lot of people out by making it to PRICEY so they cannot afford it no more and then they will have to PAY THE TAXES per family members ONLY that is the future of this big tax on Americans
Curious: Who or what receives the big fines that governments put on banks and wall street firms? Also how did bus loads of children get across our southern border? Did the buses cross the Rio Grande River or the desert without roads or bridges? A large bus should be easy to stop. Seem very odd to me.
I’m Australin, I spend about 6 months of the year in the US, (my partner is American). I’m dumffounded on why in the US there exists such a system for healthcare. No other first world country has placed their healthcare in the hands of corporations whose first consideration being their shareholders.
the small firm im with, dropped their health insurance because of Obamacare! Said it saved them at least $40K
my monthly premium for myself, wife and grandaughter is $1,200.00 on the premium notice there is a Obamacare TAX /FEE of $80????!!!!
I was paying half of the premium before they canceled coverage.
America needs to build a Mayflower and get away from these Kings that have followed us to tax and slave us for their lively hood, social and recreational pleasures . Are idea of love, peace the pursuit of happiness have been put into wall street like a commodity.
Government can use are money for technology to build War toys Tanks, ships, aircraft, bombs surveillance spy equipment.
We can’t walk away from these tried and failed ideologies that very well educated leaders seem to embrace and sell to America’s market place.
Lead go in the opposite direction make America first. 100 MPG vehicles, yes this will hurt tax revenue. Yes this will hurt the stock market at first. Yes this will help working people buy their own retirement, afford education, buy homes or have improvements on the home they own. They can spend money you know to stimulate the economy without printed funny money from the Fed.
We the people can have more freedom if we stop letting the market control are lives while the profiteers take control of us and their own lives at the expense of humanity.
The brain wash has worked very well. Now all you can hear are the parrots repeating line and verse how to keep America safe and free.
Your right, lets get on with it.
as I said above,lets go.
Here in New Zealand, and like the rest of the world, health insurance premiums have been increasing every year – and they have to, in order to keep up with the increasing medical costs! This morning on NZ radio a guy asked a plastic surgeon “How much for a nose straitening job please?” and the surgeon said $10,000 to $15,000 depending on how much work was necessary. The guy was horrified and said the quote was just $700 years ago! So there you are, costs just keep increasing on and on and on!
The only solution, earn and or save more money to cover future increases. In NZ years ago, I used to have everything covered and to save costs I had to get rid of simple costs like as many visits to the doctor as possible, (keep iodine, bandages, gargle at home and do the simple repairs myself at home) and I also cut out all visits to specialist doctors and left my insurers to pay for the very expensive visits requiring hospital surgery or treatment.
This is the only way I could ever afford to pay the expensive medical premiums – and believe me, as we get older more serious things go wrong with us – like 5 hospital visits for life saving work for me this year alone! My family all say “for goodness sake Papa, keep paying those premiums please!”
So, do try to keep up your medical insurance payments, if only for later years!
Spelling of “Obamacare” … on numerous occasions, the President has not been shy in taking ownership of this program – consequently, the term is possessive and is correctly spelled “Obama’scare”.