Monday, March 04, 2013

Unclear on the Concept: Part 47

Let me begin this mini-rant with the proviso that Allison Bell, who wrote the article on which it is based, did a great job of reporting, and I am not slamming her at all. Rather, my ire is directed entirely at Ms Shecantbeserious and her (equally) ignorant minions.

As we noted this morning, Ms Shecantbeserious has dumped another 700-plus pages of "clarifications" for our amusement and/or amazement. We touched on a few, but there are, in fact, quite a few more little "gems" hidden here. Let's look at a few of them:

When your plan design requires Guaranteed Issue and Community Rating, you have forfeited the right to use the term "risk management." The correct term is "income redistribution."

2) "how insurers will go about paying for the programs"

That's easy: they won't. Insurers have never paid for any claims - that's what premium payers are for (note: this is different than how, for example, Lloyds works).

3) "how the new "advanced premium tax credit" (APTC) program will work"

Let's answer that with another question: from where, exactly, is the money to pay for these expected credits going to come? Here's a hint: see #1 above

4) "[The ObamaTax] requires [HHS Secretary Shecantbeserious] and states to set up exchanges, or Web-based health insurance supermarkets, for individuals and small groups by Oct. 1."

Oh, we know all about that deadline. Notice, though, that we haven't seen any recent news on its actual implementation. Wonder why that is.

But here's my fave:

5) "The Internal Revenue would use the APTC program to give people ... help with paying for health coverage bought through an exchange ...  Jane Doe, a taxpayer, expected to report 2014 income equal to 300 percent of the federal poverty level in March 2015, the IRS would use Jane Doe's income projection to make APTC tax credits available to Jane Doe in 2014, to help her pay for health coverage in 2014."

One word, folks, one word.
blog comments powered by Disqus