White House aiming to scrub medical debt from people’s credit scores, which could up ratings for mil

The cost of covering for the defaults of people who should have not been borrowing money.

I thought Obamacare fixed the cost for everyone?

The Obamacare Exchanges Fall Short

Despite Biden’s boasts, fewer people are enrolled — and at a higher taxpayer cost — than was projected.

President Biden is boasting that the uninsured rate is at a record low, taking credit for growth in individual market enrollment and setting up a 2024 election issue, particularly as an expiration of massive health-insurance subsidies will confront whoever is president in 2025. In fact, recent expansions of Affordable Care Act (ACA) subsidies have driven exchange enrollment to record highs. But by itself, this is not evidence of the success of the ACA. Our
new actuarial analysis, released this week by Paragon Health Institute, serves as a reality check. The truth is that the ACA has attracted half as many people at three times the projected taxpayer cost per new enrollee as expected before the law’s provisions took effect.

In 2013, the Congressional Budget Office projected that by 2021, 40 million Americans would enroll in the individual market, where most non-elderly middle-income people without an employer plan obtain health insurance. It turns out that there were only 20 million people enrolled. We estimate the ACA led to only 1.6 million more Americans with private health insurance despite $60 billion in annual subsidies to obtain these gains — an inefficiently high annual cost of roughly $36,800 for each additional private-insurance enrollee.......
https://www.nationalreview.com/2023/09/the-obamacare-exchanges-fall-short/

 

#1 reason for filling bankruptcy in this country is because of medical bills. Are you suggesting that every single one of those victims is a "deadbeat"?

 

It's not the government paying for it it is hiding the debt from prospective lenders meaning the lenders will not know the full risk and borrowers will seem more creditworthy than they are.

 

Of course the ACA (Affordable Care Act) falls short. The Republicans made sure of that, gutting it of many of the provisions that were supposed to help fund it.

 

Maybe they should let everyone exclude one credit card from their credit reporting too................

 

Maybe, in a country as rich as ours, people shouldn't have to choose between bankruptcy and emergency and/or life saving medical care.

 

That's why you should be responsible and have insurance to cover those cost and an emergency fund to cover the out of pocket taking advantage of all the benefits your employer offers you are you manage yourself in your own business.

 

How does that make the cost simply go away? Hey that people still have car notes in American is a sign we need universal cars, just go get in one and drive where you need to go. How about universal housing, the government should pay for everyone's house. And food is more vital than healthcare............

See above, #26, why some people do NOT want government employees managing and dictating healthcare in this country.

 

Yeah, you don't want government managing and dictating healthcare but have no problem handing it over to a faceless Insurance Company bureaucracy answerable to no one.

 

Oh look we actually have Karine Jean-Pierre posting here incognito.

That excuse was soooooooo predictable.

Read the article. It IS funded. We are paying out our arses to fund it what are you talking about. It is HOW MUCH funding it is taking and how lacking in the numbers that actually bought into it the Obama administration prognostications notwithstanding.

 

See #26

 

No it is not. It is a combination of all debt some including medical bills but then people at the low end of the income scale have little if any assets or income anyway so $1000 debt can effectively "bankrupt" them and they don't really lose anything.

 

I do know Experian does not report medical debt on the credit report if it is under $200. Transunion and Equifax also do the same, but not sure the amount or threshold of medical debt. We also have laws in which you owe a hospital a bill, say $1500, and pay $25 per month, and that hospital, if it is a 501c3 organization, cannot sell the debt or report the debt to the credit bureaus, which was a major problem in the 1990s and 2000s.

Second, not having medical debt reported to credit bureaus does not mean the person is alleviated from their responsibility. It just means that if an unforeseen, serious, health care crisis comes along, and that person owes a lot of money because of the insurance lack of payment, then you should not be punished for your credit issues.

 

You mean Medicaid? You better leave Medicare alone or the seniors who were forced into it all their lives will have a MAJOR revolt. And the Medicaid expansion money would expire and the rational states realized that once it did then THEY would have to fund it and that it would bust their budgets.

 

Oh stop making that excuse trying to blame Romney for Obamacare, Obamacare was/is it's own disaster as noted above and the Dems have offered NOTHING to fix it but blame shifting.

Why on earth do you think government flunkies would be better at supplying you all your healthcare, keeping you trapped there with NO choice and NO alternative, than the smarter more capable people in the private sector. I never understand why some assert that our best and brightest all work in the government and NOT in the private sector.

 

My insurance companies were never faceless like the government and knew they actually had to make me happy with their product and service else they would not have me as a customer. I was happy with my and my families insurance all through my working life until Obamacare came along and about tripled my cost and lowered my coverage.

 

Well since that does not happen in this country as anyone can receive full emergency care at any hospital even if they have no insurance or ability to pay for it. And maybe in an country as rich as ours everyone should have free food and free water and free houses and free cars and everything else.

NOTHING is free someone has to pay for it. YOU are responsible for YOURSELF everyone else is not. If you do not take the responsibilty for yourself why should you expect others who do to foot all your bills?

 

Should the lender be punished for lending a person money when they were actually not credit worthy enough for it due to their total debt including some medical debt?

If you and I both have a annual income of $100,000 and the same mortgage and car note but I have an additional $20,000 in medical debt are we equal credit risk for a $20,000 second car loan?

 

Most people do NOT have the ability to change their insurance company. Insurance is tied to employment for most people (an insane process). You use whatever insurance your company provides. If you don't like it, tough. THAT insurance company gets to deny any care that they deem as "unnecessary".
Obamacare did not triple your cost or lowered your coverage, your insurance company did that....and blamed Obamacare.

 

I look at 10 million illegals flooding over the border and I am grateful that my tax dollars are used provide their FREE care. The loophole they have is they have to use Emergency Rooms (the absolute most expensive kind) to get their care at my expense. If they get a cold or cancer, they go to the emergency room and charge to the taxpayers.

Universal free health care means that the entity with all the guns and all the power (who hates you) gets to decide who gets health care. An ability to pay for services is no longer relevant. This means that citizens who decide not to get a Covid shot could be prevented from getting any healthcare by the federal government. I will take a very hard pass on that.

It is obvious to anybody paying attention that the current elites are using illegal aliens to break the systems in America and Europe. They really believe it is immoral for white majority countries to have it so easy when 3rd world countries suffer. Their solution is not to uplift 3rd world countries, it is to demolish 1st world nations. By any object measurement of well-being, it is working. No public program can "fix" the problem and none are meant to. The "fixes" are meant to make the situation worse and reduce the standard of living of ordinary Americans.

The end result will be Asian supremacy. Asians aren't replacing the indigenous people who made their countries great with 3rd worlders. Demographics are destiny and no country rises above the limitations of their citizens. The shockwave that will come after baby boomers are gone will be cataclysmic. I anticipate the slow decline in living standards will accelerate. We will be a nation of renters just as the elites intend us to be. The rich will own nearly all the land just as they did during serfdom. This is their plan and I see nothing to stop it. NOTE: As part of their plan, everybody but the elite will have free 2nd world health care while the elite get 1st world health care.

As an anecdotal example: I worked with an Indian immigrant engineering intern a few years ago. He weirdly thought his aunt who lived in India and was not an American citizen should get free cancer care in America. The entitlement worldview of newer immigrants is frankly terrifying. This guy wanted me to give him my music flash drive containing music that I paid more than $2k to obtain. I told him that would be stealing. When his internship ended, he stole the flash drive on the way out. Very intelligent, very talented.... and an immoral scumbag thief to boot.

 

No, not everyone of those people are deadbeats. Tell me, if you had a medical bill and knew not paying it wouldn't follow you around, would you pay it? I'm sure you would, but I'm guessing some folks wouldn't.

As previously mentioned in this thread, Obama told us many times that Obamacare would prevent bankruptcies, he must have said that dozens of times.

 

And it conceivably could have if it had been left as is. But the Republicans, in an attempt to make it not work, gutted provisions that would have made it work.

 

Obamacare absolutely did do that.

As I've mentioned many times before, my health insurance cost for my family was $86 a month, after Obamacare it crept up to over $400.

A cholesterol med I take went from $20 for a 3 month to supply to $400 for a 1 month supply, and that's not a typo. The drug was Niaspan. A med my kid MUST have went from $23 for a 3 month supply to $912 for a one month supply and that drug is Abilify.

Blood tests were once free - now I pay $100 per test. A stress test was once free, now my cost is $800.

All of the above occurred with the same insurance provider, United Healthcare.

Everything got worse when Obamacare started. This was back in the days when Melissa Harris Perry said one of the most racist terms she could think of is Obamacare and she did a tv show on it. Knowing her reputation for everything being about blacks, blacks and more blacks, I'm guessing she knew Obamacare was going to suck and didn't want it pinned to a black man.

 

What went wrong is we are all eagerly waiting for Trump to release his revolutionary healthcare plan that hebsaid he would release in 2020.

 

Seems some of us have forgotten the sham of the ACA

https://www.forbes.com/sites/theapo...nd-subsidies-from-the-public/?sh=1fed5707c05d

“In the video, Gruber points out that if Democrats had been honest about these facts, and that the law’s individual mandate is in effect a major tax hike, Obamacare would never have passed Congress.”

Gruber said. “In terms of risk-rated subsidies, if you had a law which said that healthy people are going to pay in—you made explicit that healthy people pay in and sick people get money, it would not have passed, okay. Lack of transparency is a huge political advantage. And basically, call it the stupidity of the American voter or whatever, but basically that was really, really critical for the thing to pass…Look, I wish Mark was right that we could make it all transparent, but I’d rather have this law than not.”

“I mean, this bill was written in a tortured way to make sure CBO did not score the [individual] mandate as taxes,” said Gruber. “If CBO scored the mandate as taxes, the bill dies. Okay, so [the law is] written to do that.”

To a large degree, the tactic of opacity worked. Not only did Obamacare get passed, but its complex system of cross-subsidies attracted less notice on the Right than did the law’s tax hikes and spending increases. But what progressives figured out—and conservatives are just learning—is that government regulation of health insurance can serve as yet another way to redistribute money from one group to another.