High Obamacare deductibles causing high consumer debt and impacting credit reports, 52 percent of all debt on credit reports from medical expenses, 3 in 5 Americans don’t have savings to cover unexpected bills

High Obamacare deductibles causing high consumer debt and impacting credit reports, 52 percent of all debt on credit reports from medical expenses, 3 in 5 Americans don’t have savings to cover unexpected bills

“The cost of health insurance will climb from a range of $61 to $77 monthly to a range of $118 to $133 monthly, according to a memo sent from UNC President Tom Ross to the UNC Board of Governors. On an annual basis, most students will pay about $500 to $700 more in 2012-13, depending on the campus.”

“Mallette said the insurance increases are due to the health care usage of UNC system students during the past couple of years, plus federal regulations on preventive care and pharmacy services issued in March. The process is complicated, he said, by the new provisions of the Affordable Care Act.”…Charlotte Observer May 1, 2012

“One of the CBO’s most intriguing estimates is that by 2017 there will be 2 million fewer full-time jobs on the market than there would have been without Obamacare, and that figure could climb to 2.5 million by 2024.”…Market Watch February 4, 2014

“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″

 

 

You have probably heard or read about the lying POC Obama bragging about the job he has done.

You are constantly bombarded by the Orwellian mainstream media about how much the economy has improved.

Yet most of you know, through your own personal experiences,  finances or by the fate of those you know, that what you are being fed is a huge lie.

Reported at Citizen Wells on January 5, 2015.

“Millions of Americans have already been shocked by premium increases as large as 100 percent. Average increases in some states are 45 percent.

What you probably are not being told about is the hidden problem of high deductibles and the impact on the US economy. More people with higher deductibles will not be able to pay them and the hospitals and healthcare providers will have to absorb the costs and ultimately pass them on to the American public.

I was discussing this problem recently with a friend who owns a Tax/accounting business. He told me that recently he was at a seminar and heard a hospital administrator explain this very topic.

Do not be fooled by the Orwellian Obama controlled mainstream media as they attempt to cover for Obamacare and the economy.”

Read more:

https://citizenwells.wordpress.com/2015/01/05/obamacare-surprises-and-clobbers-millions-of-americans-subsidy-refunds-to-irs-premiums-skyrocket-high-deductibles-unpaid-cost-to-hospitals-and-taxpayers-obamacare-increases-health-care-spending/

From the Charlotte Observer January 7, 2015.

“As Americans pay more out-of-pocket medical costs, Charlotte-area hospitals have begun offering multiyear no-interest payment plans to help patients with their bills.

The changes come at a time when health care reform has increased the number of Americans with insurance. But even those with insurance are spending more for their own care thanks to the rise in high-deductible plans. These plans have lower premiums but require consumers to pay more before reimbursement kicks in.”

“The federal Consumer Financial Protection Bureau recently reported that 52 percent of all debt on credit reports is from medical expenses.

While the Affordable Care Act sets a limit on how much anyone buying insurance through the marketplace must pay in deductibles, co-pays and coinsurance, even that amount would strain many budgets. For 2015, it’s $6,600 for an individual plan and $13,200 for a family plan.”

“Hospital officials said the first year of the Affordable Care Act showed that a subsidized policy with high out-of-pocket costs isn’t always much better than no insurance – for patients or hospitals. Low-income people often chose the high-deductible plans with the lowest premium, then avoided or delayed care because they couldn’t cover the deductible.

In the past year, Stephen Burr, senior vice president of patient financial services for Carolinas HealthCare, said the system’s financial counselors noticed that more people are “really having trouble paying their bills.”

Charity care for uninsured patients rose from $224 million in 2012 to $324 million in 2013 at Carolinas HealthCare, Burr said. Bad debt – the amount left unpaid by patients who don’t qualify for charity care – rose from $243 million in 2012 to $290 million for 2013.

“Affordable coverage usually comes with high deductibles, and patients are now responsible for more of the costs,” Burr said. “The ones that have that insurance (may not have been) fully aware of just how much they’re on the hook to pay for.””

Read more:

http://www.charlotteobserver.com/2015/01/07/5431741/charlotte-hospitals-offer-interest.html#.VK7mAyvF-nY

From Zero Hedge January 7, 2015.

“3 In 5 Americans Don’t Have Savings To Cover Unexpected Bills”

“While various CNBC anchors may be willing to say that the US is “growing gangbusters” yet again confusing the liquidity-oozing equity markets with the economy, there are a couple hundred million Americans who would bet to differ (which incidentally may also explain why the Comcast channel no longer wishes to have its viewership calculated by Nielsen): the reason is that according to the latest Bankrate survey released today, more than three in five Americans don’t have money in their savings accounts to cover any unexpected bills such as a $500 car repair or a $1,000 emergency room visit.

In fact, only 38% of respondents said they have enough funds in their bank accounts to cover even the most mundane of spending emergencies.. Most others would need to take on debt or cut back elsewhere.”

Read more:

http://www.zerohedge.com/news/2015-01-07/3-5-americans-dont-have-savings-cover-unexpected-bills

 

Thanks to commenter oldsoldier79.

 

 

 

 

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3 responses to “High Obamacare deductibles causing high consumer debt and impacting credit reports, 52 percent of all debt on credit reports from medical expenses, 3 in 5 Americans don’t have savings to cover unexpected bills

  1. oldsoldier79

    If this article doesn’t put our economy in the right prospective…….then nothing will…..

    It appears we are officially on life supports waiting for the next nail to be driven.

    thanks CW…..

  2. oldsoldier79

    NOW TELL ME AGAIN….WHAT’S GOOD ABOUT ISLAM?

    These are sad little men with a sick, sick twisted religion

  3. oldsoldier79

    THE WORD GAME….

    UNITED NATIONS – By refusing to associated the Paris terrorist attacks with Islam, President Obama is engaging in “Shariah compliant” speech, charges Joy Brighton, author of the 2014 book “Sharia-ism is Here: The Battle to Control Women; and Everyone Else.”

    “President Obama defends free speech vehemently, and the press lauds him for this; however, he refuses to use the words “Islam,” “radical Islam,” “Muslim,” “jihad” or “Shariah” when condemning the Shariah-driven shootings in Paris,”.

    Shariah is Islamic law, the moral code of Islam that encompasses all realms of life, from the personal to the criminal, economic and political.

    In addition to Obama’s comments Wednesday in the immediate aftermath of the Paris shooting, Brighton referenced his speech to the United Nations General Assembly in New York Sept. 25, 2012, in which he said, “The future must not belong to those who slander the prophet of Islam

    Read more at http://www.wnd.com/2015/01/obamas-remarks-on-paris-shooting-shariah-compliant/#iDuM20ZycGxCuYTG.99
    —————————————————————————————————–
    All Obama (Soetoro) is doing is to protecting his own sorry little ass from the wrath of the Islamic radicals after he leaves office….

    If he were to publicly mention; radical Islamic terrorist, or associate the terror going on in the world with the Islamic religion…..you can bet your last dollar that the radical Muslims would paint a great big target on his back for the whole Muslim world to see.

    So now you know why he refuses to call Islamic terror what it is, and refuses to let our government call it what it is…….because his religion (Sunni Muslim) would quickly put his lights out if he did !……..he is about as brave as a little church mouse.

    And they very well may do that anyway!

    I personally think he is caught between a rock and a hard place……time will tell.

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