Obamacare Could Drive Down Your Car Insurance Costs

[Star]

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Obamacare Could Drive Down Your Car Insurance Costs

Brianna Ehley The Fiscal Times
April 9, 2014

<snip>

What does Obamacare have to do with your car insurance? Auto insurers spends billions of dollars on health care costs related to accidents each year. In 2007, for example, those insurers doled out $35 billion on medical costs tied to accidents. That sum represented about 2 percent of all U.S. health care costs for the year, according to Rand.

However, now that the president’s health care law has taken effect and more people have health insurance — 9.3 million newly insured people, according to a separate Rand survey — some of those costs may be covered by health insurers instead. “As that happens, the cost of providing automobile insurance, workers compensation and homeowners insurance may decline,” Rand says.

<snip>

.

 

[Katzndogz]

Are they doing away with the collateral source rule now? This is a crock.

 

[Two Thumbs]

ok

7 million people lost their health ins
sign up was a debacle
most of the companies that supported it got waivers
health ins premiums went up

but the fucking morons are going to claim it may lower my car insurance.


seriously, just how many drugs are leftist on to actually keep supporting this nightmare?

do you like fucking people over?
Do you think we are as dumb as you clearly must be?

jezuz krist, wake the fuck up and take a honest look for once

 

[S.J.]

Yeah, after you pay for your Obamacare insurance you won't have enough money for gas and you won't be driving anywhere. Not much chance of an accident if your car is parked in the driveway.

 

[Politico]

No it won't.

 

[AvgGuyIA]

.
Obamacare Could Drive Down Your Car Insurance Costs

Brianna Ehley The Fiscal Times
April 9, 2014

<snip>

What does Obamacare have to do with your car insurance? Auto insurers spends billions of dollars on health care costs related to accidents each year. In 2007, for example, those insurers doled out $35 billion on medical costs tied to accidents. That sum represented about 2 percent of all U.S. health care costs for the year, according to Rand.

However, now that the president’s health care law has taken effect and more people have health insurance — 9.3 million newly insured people, according to a separate Rand survey — some of those costs may be covered by health insurers instead. “As that happens, the cost of providing automobile insurance, workers compensation and homeowners insurance may decline,” Rand says.

<snip>

.

That 9.3 million figure is a lie. Most of those were recently cancelled health insurance policies.

 

[CaféAuLait]

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Obamacare Could Drive Down Your Car Insurance Costs

Brianna Ehley The Fiscal Times
April 9, 2014

<snip>

What does Obamacare have to do with your car insurance? Auto insurers spends billions of dollars on health care costs related to accidents each year. In 2007, for example, those insurers doled out $35 billion on medical costs tied to accidents. That sum represented about 2 percent of all U.S. health care costs for the year, according to Rand.

However, now that the president’s health care law has taken effect and more people have health insurance — 9.3 million newly insured people, according to a separate Rand survey — some of those costs may be covered by health insurers instead. “As that happens, the cost of providing automobile insurance, workers compensation and homeowners insurance may decline,” Rand says.

<snip>

.

Not sure how you or the article figures this. Hospital charges are not going to change. And when YOU hit me, YOUR insurance policy, through YOUR car insurance reimburses me ( this is why you pay for injury premiums ) You are responsible to reimburse my hospital costs through YOUR car policy and pay my medical bills to my medical insurance company.

 

[Seawytch]

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Obamacare Could Drive Down Your Car Insurance Costs

Brianna Ehley The Fiscal Times
April 9, 2014

<snip>

What does Obamacare have to do with your car insurance? Auto insurers spends billions of dollars on health care costs related to accidents each year. In 2007, for example, those insurers doled out $35 billion on medical costs tied to accidents. That sum represented about 2 percent of all U.S. health care costs for the year, according to Rand.

However, now that the president’s health care law has taken effect and more people have health insurance — 9.3 million newly insured people, according to a separate Rand survey — some of those costs may be covered by health insurers instead. “As that happens, the cost of providing automobile insurance, workers compensation and homeowners insurance may decline,” Rand says.

<snip>

.

Not sure how you or the article figures this. Hospital charges are not going to change. And when YOU hit me, YOUR insurance policy, through YOUR car insurance reimburses me ( this is why you pay for injury premiums ) You are responsible to reimburse my hospital costs through YOUR car policy and pay my medical bills to my medical insurance company.

• Patients might less frequently use liability insurance to obtain treatment for unrelated health problems that health insurance would otherwise treat.
• Liability payments could decrease in states that limit awards based on payments from collateral sources.
• In states that do not limit the collateral source effect, liability claims could increase if health insurance pays at the time the care is provided.
• Medicare rates, which form the basis for many liability payments, are reduced under the new reforms, and those reductions are likely to spill over into private rates.
• Insured individuals have more contacts with physicians, make more visits, and receive more procedures, so they are more likely than others to file medical malpractice claims.

How Will the Patient Protection and Affordable Care Act Affect Liability Insurance Costs?

 

[Star]

Yeah, after you pay for your Obamacare insurance you won't have enough money for gas and you won't be driving anywhere. Not much chance of an accident if your car is parked in the driveway.

And yet, lots-o-people will still drive their cars to work and-----and when they do, using the Massachusetts model as an indicator, what workers will find in most states, is a reduction in workman's comp costs.


The Future of Workers’ Compensation under PPACA

What the Massachusetts experience can teach us
Vasanth Sathiyakumar, BA; Daniel J. Stinner, MD; William T. Obremskey, MD, MPH; A. Alex Jahangir, MD; and Manish K. Sethi, MD

<snip>

Some predictions can be made, however, in supporting the opposing notions that workers’ compensation costs may either increase or decrease by using Massachusetts as an example and considering that the Massachusetts Health Care Reform Act and PPACA share many similar provisions.

Some studies have shown that working Americans who lack insurance are more likely to seek coverage under workers’ compensation statutes. The decrease in the number of uninsured Americans could prompt cost shifts—reducing costs in the workers’ compensation system as more Americans use their normal health insurance to cover injuries stemming from work—similar to those seen in Massachusetts.

Furthermore, increasing access to care under PPACA and expanding preventive services and wellness initiatives should make the overall working population healthier. This could potentially decrease both the prevalence of comorbidities such as smoking, diabetes, and obesity and the number of workers’ compensation claims.

Fraud can also be decreased by potentially deterring uninsured employees from using workers’ compensation for nonoccupational injuries or preexisting conditions because the individual mandate requires enrollment in a health insurance plan. Therefore, treatment of these conditions will not drain workers’ compensation resources. Further trickle-down effects from tax rebates to the pharmaceutical industry will allow greater access to generic drugs for patients, which may enable these patients to treat their preexisting conditions without needing to use the workers’ compensation system for care.

<snip>

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[hjmick]

If you like your automobile insurance...

 

[Star]

.
Obamacare Could Drive Down Your Car Insurance Costs

Brianna Ehley The Fiscal Times
April 9, 2014

<snip>

What does Obamacare have to do with your car insurance? Auto insurers spends billions of dollars on health care costs related to accidents each year. In 2007, for example, those insurers doled out $35 billion on medical costs tied to accidents. That sum represented about 2 percent of all U.S. health care costs for the year, according to Rand.

However, now that the president’s health care law has taken effect and more people have health insurance — 9.3 million newly insured people, according to a separate Rand survey — some of those costs may be covered by health insurers instead. “As that happens, the cost of providing automobile insurance, workers compensation and homeowners insurance may decline,” Rand says.

<snip>

.

Not sure how you or the article figures this. Hospital charges are not going to change. And when YOU hit me, YOUR insurance policy, through YOUR car insurance reimburses me ( this is why you pay for injury premiums ) You are responsible to reimburse my hospital costs through YOUR car policy and pay my medical bills to my medical insurance company.

• Patients might less frequently use liability insurance to obtain treatment for unrelated health problems that health insurance would otherwise treat.
• Liability payments could decrease in states that limit awards based on payments from collateral sources.
• In states that do not limit the collateral source effect, liability claims could increase if health insurance pays at the time the care is provided.
• Medicare rates, which form the basis for many liability payments, are reduced under the new reforms, and those reductions are likely to spill over into private rates.
• Insured individuals have more contacts with physicians, make more visits, and receive more procedures, so they are more likely than others to file medical malpractice claims.

How Will the Patient Protection and Affordable Care Act Affect Liability Insurance Costs?

Thanks for the article and-----and, according to Fox Business, when fully implemented, not only will Obamacare change what we pay for auto insurance but also workman's comp, homeowners insurance, business liability insurance... and other types of insurance that involve medical care.


Click here: ObamaCare Could Bring Changes to Other Types of I

By Kate Rogers
Published April 09, 2014
Fox Business

The increased coverage requirements mandated under the Affordable Care Act are shifting the payment landscape for other types of insurance, including auto insurance, and worker’s compensation.

Automobile, worker’s compensation and general business liability insurance costs could potentially fall under the law, according to nonprofit research organization RAND. On the other hand, medical malpractice coverage costs could tick higher.

The report says there could be as much as a 5% change of costs in those three insurance policies in certain states, but adds there is “considerable uncertainty” around these estimates.

Researchers examined how the ACA might operate across different liability lines and how those lines might vary across states given existing laws, population demographics and other factors. RAND reports that liability insurance companies reimburse tens of billions of dollars annually for medical care related to auto accidents, workplace injuries and more.
David Auerbach, RAND policy researcher, says the impacts are small but noteworthy, and have the potential to evolve overtime.

“We don’t know how this will play out and if the ACA will lead to lower costs overall,” Auerbach says. “Insurers could see their costs going down, but there are things that could change within specific markets.”

<snip>
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[CrusaderFrank]

Oh, so Obama meant you could save $2,500 from switching to Geico

 

[Papageorgio]

The health care cost will shift from one insurance to another insurance and one will cut the price, maybe, and the other will surely raise its price. Another loss, but a nice try.


Sent from my iPad using an Android.

 

[OKTexas]

I haven't read such a major spasm of speculation in a long time, that article contains more mights, coulds and possibilities than you can shake a stick at. Let me know when you have some real evidence of real savings, otherwise it's nothing but propaganda for the ignorant masses.

 

[Star]

The health care cost will shift from one insurance to another insurance and one will cut the price, maybe, and the other will surely raise its price. Another loss, but a nice try.


Sent from my iPad using an Android.

As pointed out in the article linked in the OP, a type of scenario that could play out (in multiple ways) would be:
"However, now that the president’s health care law has taken effect and more people have health insurance — 9.3 million newly insured people, according to a separate Rand survey — some of those costs may be covered by health insurers instead. “As that happens, the cost of providing automobile insurance, workers compensation and homeowners insurance may decline,” Rand says.

The report provides this example of how that might play out:
An individual without health insurance suffering from lower back pain is in an auto accident. He had not received formal medical treatment for the problem prior to the accident. He then undergoes testing and treatment for the problem and submits the medical costs to the auto insurer, claiming that the problem resulted from the accident. Were he insured, he might have seen medical providers previously and addressed the problem through surgery or therapy, eliminating the need to use liability insurance to cover care."

And-----and I would add that many of the claims made not only against auto insurance but also workman's comp, homeowners insurance, business liability, etc. will be dealt with for less cost via Obamacare's built in preventive care and-----and lowers the incentive behind committing fraud.
.

 

[Little-Acorn]

Obamacare Could Drive Down Your Car Insurance Costs


Unsurprising.

After you get done paying the hugely higher premiums for added "features" you didn't want, plus extra costs to pay for the next guy's insurance too, you won't have enough left to buy that new Ford Fusion you had in mind. So you spring for the 25-year-old Chrysler Newport in the paper for $500 instead, and next time you hit something you probably won't even notice it.

 

[Two Thumbs]

how hard up are liberals for good news about obama that anyone would cling to such non-sense?

It didn't lower health ins prems, as promised, so you are going to pretend it will lower car ins.


fuck sakes

 

[Soggy in NOLA]

how hard up are liberals for good news about obama that anyone would cling to such non-sense?

It didn't lower health ins prems, as promised, so you are going to pretend it will lower car ins.


fuck sakes

Exactly... premiums are skyrocketing, copays are up, out-of-pockets are quadrupling.. but oh yes, your car insurance will go down.

How stupid are these people?

 

[Little-Acorn]

how hard up are liberals for good news about obama that anyone would cling to such non-sense?

It didn't lower health ins prems, as promised, so you are going to pretend it will lower car ins.


fuck sakes

Exactly... premiums are skyrocketing, copays are up, out-of-pockets are quadrupling.. but oh yes, your car insurance will go down.

How stupid are these people?

It's not how stupid THEY are.

It's how stupid they think YOU are, that they believe you might actually fall for this nonsense.

 

[S.J.]

how hard up are liberals for good news about obama that anyone would cling to such non-sense?

It didn't lower health ins prems, as promised, so you are going to pretend it will lower car ins.


fuck sakes

Exactly... premiums are skyrocketing, copays are up, out-of-pockets are quadrupling.. but oh yes, your car insurance will go down.

How stupid are these people?

It's not how stupid THEY are.

It's how stupid they think YOU are, that they believe you might actually fall for this nonsense.

That, in itself, makes them stupid.