That is a great question! And just about every insurance company and agent would love to know the answer as much as you do...The health care segment right now is really in a state of transition, and it's difficult with all of the 'behind the scenes' maneuvering to see with any clarity how it will play out. But here's kind of a snapshot for you: The major insurers took a guess at what the average newly insured client would look like and set their initial prices accordingly when the Law was rolled out.
As it turned out, many of the people that the insurers had excluded from coverage because of expensive to treat (read:"not profitable to insure") issues were the first to enroll. Therefore they found that the initial years have eaten away at their profits far more than they expected. For whatever the reason, political or otherwise, the thought was that people with issues would be outnumbered by healthy people enrolling, and thus the costs would be moderated, and profits excessive as usual.
At the same time as this, pharmaceutical companies are seeing the impending legislated regulations for them also looming on the horizon , so many of them (Epi-pen being the latest) have jacked their prices up by hundreds of percents, hoping to reap as much profit as possible in the meantime (Epi-pen was raising their price 15% twice a year at one point - 30% more a year for something that didn't cost any more to make).
So there is a fierce behind the scenes battle between insurers, drug manufacturers and marketers, The AMA and other medical provider organizations, lobbyists, and the Government. (The daughter of a West Virginia Senator is the CEO of Epi-pen, responsible for the price hikes, and for getting some major legislation pushed through Congress that greatly increased profits for her company - Heather Bresch, if you like to Google) There is a whole lot of money being passed around, a whole lot of unhappy Americans who can't afford their needed meds and services, and a whole lot of unhappy executives who are struggling to keep their salary increases and shareholders happy.
When it's all sorted out, will Congress repeal Obamacare? I guess that depends upon who has the most money, or the loudest voice. My personal opinion is that the one thing that our elected representatives desire most is to keep their seat at the never-ending buffet of Congress, and there are many millions of Americans who now have health insurance who didn't before. They vote, and so keeping them at least partially happy is a must. I don't believe that it will be repealed, but I certainly expect to see some changes. There is a serious problem brewing here between ethical affordable treatment and profitability, and it is very rare that compromise occurs, so your guess is as good as anyone's as to who comes out ahead in this one...let's hope it's us.
Owner/ Partner, Bynum Insurance Agency, Inc, Clayton, GA
Everyone knows the answer to that is a yes. Of course that depended also upon the Republicans having a majority in both the houses which they do. I look for the affordable healthcare act to be repealed in January. It only takes a simple majority in the Senate 52 -48. The problem will come with the replacement plan for which there is none. The replacement will have to have a super majority, 60-40 to be filibuster proof so the new plan will have to have bipartison approval to pass. As an insurance agent, I personally would like to see the replacement plan at the time of the repeal.
Agent Owner, Gilmore Insurance Services, Marysville, Washington State
It's two years later and the GOP hold all three houses of power and no Obamacare has not gone away. Why? because the reality is you cannot make health insurance "cheaper" and "better". Insurance simply doesn't work that way. Right now the ACA puts the burden of risk on the insurance companies for claims costs, which is why the premiums are what they are. The only way to lower premiums is to shift that risk of claims costs back to the insured. Costs will go lower but risk of loss becomes greater for the insured.
At some point the plan design may change and people will once again take on medical bankruptcy risk to save a few dollars of premium. Be careful what you wish for. Saving a few bucks in premium to have thousands return in costs.
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As it turned out, many of the people that the insurers had excluded from coverage because of expensive to treat (read:"not profitable to insure") issues were the first to enroll. Therefore they found that the initial years have eaten away at their profits far more than they expected. For whatever the reason, political or otherwise, the thought was that people with issues would be outnumbered by healthy people enrolling, and thus the costs would be moderated, and profits excessive as usual.
At the same time as this, pharmaceutical companies are seeing the impending legislated regulations for them also looming on the horizon , so many of them (Epi-pen being the latest) have jacked their prices up by hundreds of percents, hoping to reap as much profit as possible in the meantime (Epi-pen was raising their price 15% twice a year at one point - 30% more a year for something that didn't cost any more to make).
So there is a fierce behind the scenes battle between insurers, drug manufacturers and marketers, The AMA and other medical provider organizations, lobbyists, and the Government. (The daughter of a West Virginia Senator is the CEO of Epi-pen, responsible for the price hikes, and for getting some major legislation pushed through Congress that greatly increased profits for her company - Heather Bresch, if you like to Google) There is a whole lot of money being passed around, a whole lot of unhappy Americans who can't afford their needed meds and services, and a whole lot of unhappy executives who are struggling to keep their salary increases and shareholders happy.
When it's all sorted out, will Congress repeal Obamacare? I guess that depends upon who has the most money, or the loudest voice. My personal opinion is that the one thing that our elected representatives desire most is to keep their seat at the never-ending buffet of Congress, and there are many millions of Americans who now have health insurance who didn't before. They vote, and so keeping them at least partially happy is a must. I don't believe that it will be repealed, but I certainly expect to see some changes. There is a serious problem brewing here between ethical affordable treatment and profitability, and it is very rare that compromise occurs, so your guess is as good as anyone's as to who comes out ahead in this one...let's hope it's us.
Thanks for asking such a great question!
At some point the plan design may change and people will once again take on medical bankruptcy risk to save a few dollars of premium. Be careful what you wish for. Saving a few bucks in premium to have thousands return in costs.