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The true cost of Obamacare

December 31, 2022, 10:08:58 am NilsFor1611 says: blessings
August 08, 2018, 02:38:10 am suzytr says: Hello, any good churches in the Sacto, CA area, also looking in Reno NV, thanks in advance and God Bless you Smiley
January 29, 2018, 01:21:57 am Christian40 says: It will be interesting to see what happens this year Israel being 70 years as a modern nation may 14 2018
October 17, 2017, 01:25:20 am Christian40 says: It is good to type Mark is here again!  Smiley
October 16, 2017, 03:28:18 am Christian40 says: anyone else thinking that time is accelerating now? it seems im doing days in shorter time now is time being affected in some way?
September 24, 2017, 10:45:16 pm Psalm 51:17 says: The specific rule pertaining to the national anthem is found on pages A62-63 of the league rulebook. It states: “The National Anthem must be played prior to every NFL game, and all players must be on the sideline for the National Anthem. “During the National Anthem, players on the field and bench area should stand at attention, face the flag, hold helmets in their left hand, and refrain from talking. The home team should ensure that the American flag is in good condition. It should be pointed out to players and coaches that we continue to be judged by the public in this area of respect for the flag and our country. Failure to be on the field by the start of the National Anthem may result in discipline, such as fines, suspensions, and/or the forfeiture of draft choice(s) for violations of the above, including first offenses.”
September 20, 2017, 04:32:32 am Christian40 says: "The most popular Hepatitis B vaccine is nothing short of a witch’s brew including aluminum, formaldehyde, yeast, amino acids, and soy. Aluminum is a known neurotoxin that destroys cellular metabolism and function. Hundreds of studies link to the ravaging effects of aluminum. The other proteins and formaldehyde serve to activate the immune system and open up the blood-brain barrier. This is NOT a good thing."
September 19, 2017, 03:59:21 am Christian40 says: bbc international did a video about there street preaching they are good witnesses
September 14, 2017, 08:06:04 am Psalm 51:17 says: bro Mark Hunter on YT has some good, edifying stuff too.
September 14, 2017, 04:31:26 am Christian40 says: i have thought that i'm reaping from past sins then my life has been impacted in ways from having non believers in my ancestry.
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Author Topic: The true cost of Obamacare  (Read 28343 times)
Psalm 51:17
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« Reply #360 on: November 22, 2016, 11:18:09 am »

The billion-dollar Obamacare business with Trump family ties

Donald Trump has long ignored the conventional wisdom about never doing business with family. Yet the president-elect might soon get a lesson in how familial ties can complicate commerce.

Trump has promised to repeal and replace Obamacare, a vow that could threaten Oscar Insurance, a $2.7 billion technology startup co-founded by Ivanka Trump’s brother-in-law, Joshua Kushner. Oscar has also received funding from Trump adviser Peter Thiel, who could face a loss on his investment if Oscar folds under a Trump-led overhaul of the 2010 Affordable Care Act.

Just three years after it was founded, Oscar appears to be ailing, but it’s not only because of Trump’s vow to dismantle the health care law. Oscar has struggled to make good on its promise to revolutionize health insurance, with Bloomberg News reporting that it had lost $45 million in just three states during the third quarter. The company is also leaving two markets, New Jersey and the Dallas area, as it seeks to manage costs.

In a blog post to Oscar customers following Trump’s victory, Kushner and co-founder Mario Schlosser wrote that they continue to believe that providing universal, affordable health care is “ethically right,” but that Obamacare has shortcomings that “any new government would have had to address.”

“Some of the current proposals being discussed would surely encourage more of the consumerization and individualization that are required to create real competition across the entire healthcare industry, and thus force necessary improvements,” they wrote.

In an email to CBS MoneyWatch, a spokesman for Oscar said the company isn’t commenting beyond what Kushner and Schlosser wrote in their blog post.

The problems encountered by Oscar aren’t unique to the startup. Other insurers participating in Obamacare have also incurred higher-than-expected costs, with the pool of individual customers tending to be older and sicker than originally projected. Aetna (AET) and Humana (HUM) are among the U.S. insurers that have exited the program’s health-care exchanges amid cost issues.

Kushner and Schlosser pointed to what they view as a significant problem with Obamacare: “weak enforcement” of the individual mandate, which states that every American must obtain health insurance or else face a penalty amounting to as much as $2,085 for a family. But millions of Americans remain uninsured because in many cases the penalty remains less expensive than purchasing health insurance through the exchanges.

Trump campaigned on repealing the individual mandate, stating in his policy positions that “no person should be required to buy insurance unless he or she wants to.”

Oscar’s headaches may only be beginning, however. Although it’s unclear whether Trump will seek to completely overturn Obamacare, his administration is likely to challenge aspects of the health care overhaul. For instance, with support of the Republican-controlled Congress, Trump could approve legislation that would eliminate the tax credits that help millions of Americans afford insurance plans through Obamacare’s exchanges.

Watch: Ivanka Trump zinged over marketing of bracelet worn on 60 Minutes

If that occurs, many Obamacare customers would likely drop their insurance plans as their premiums become less affordable. That could significantly reduce revenue at Oscar and other insurers, leading to significant operating challenges.

Still, Kushner and Schlosser painted a positive picture of the changes that they see through the lens of the new administration, writing that the plans proposed by Congressional Republicans “would enable individuals to buy insurance with pre-tax dollars, just like employers have always been able to do.”

But the survival of Obamacare’s tax credits appears central to their vision, with the co-founders noting that the individual insurance market “can be made to work through a smart combination of continuous coverage provisions and tax credits.”

Watch: Fraudsters targeting ATMs, and other MoneyWatch headlines

Joshua Kushner is the younger brother of Ivanka Trump’s husband, Jared Kushner, who could end up as a top White House advisor. Thiel, the co-founder of PayPal and a Trump supporter, is among the investors who have provided more than $700 million in funding to Oscar, according to Crunchbase.

Both Jared and Joshua Kushner are graduates of Harvard, the highly selective Ivy League college which received a pledge of $2.5 million from their father, real estate developer Charles Kushner. At Harvard, Joshua Kushner was roommates with Alexander Blankfein, the son of Goldman Sachs (GS) CEO Lloyd Blankfein.

After graduation, Kushner worked at Goldman Sachs before attending business school and later co-founding Oscar.
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