Obamacare Just Made Americans Richer, Without Anyone Noticing..Huff Post
http://www.huffingtonpost.com/2014/03/04/obamacare-january-bea_n_4892267.html?ncid=txtlnkusaolp00000592Huffington Post | by Kevin Short
Posted: 03/04/2014 4:04 pm EST Updated: 03/04/2014 4:59 pm EST
Glenn Beck once said Obamacare would mean "the end of prosperity in America forever." But so far, it turns out President Obama's 2010 health law is actually putting money in Americans' wallets.
To be exact, President Obama's 2010 health law was responsible for about three-quarters of a surprising January rise in U.S. consumer spending and American income growth, according to calculations by the Wall Street Journal.
While not exceptional, the gains were significant: a 0.4 percent rise in consumer spending ($45.2 billion) and a 0.3 percent rise in personal incomes (up $43.9 billion), according to new figures released by the Bureau of Economic Analysis. The growth came in spite of the expiration of unemployment benefits for the long-term unemployed and all that horrible winter weather.
So what exactly did the Obamacare rollout do to cause such a rise? For one, it expanded the Medicaid program, a critical and highly controversial aspect of the law, by adding up to a $19 billion in benefits in January. On top of that, health care enrollees additionally received another near $15 billion in the form of tax credits as a result of the rollout, according to the BEA.
riqster
(13,986 posts)The "it's not perfect enough" crowd ought to be along, any minute now.
Cha
(304,066 posts)Thanks StuartG
tofuandbeer
(1,314 posts)SunSeeker
(53,398 posts)freshwest
(53,661 posts)beerandjesus
(1,301 posts)I still hope for Medicare-for-all some day, but Obamacare is turning out to be a good thing for a lot of people!
hue
(4,949 posts)calimary
(83,826 posts)Needs to be Said, Read, and SPREAD!
Doctor_J
(36,392 posts)My premiums went up a little, and my annual deductible from 500 to 8300. But insurance executives and investors have a lot more to spend.
I am happy for those who finally got insurance, but the aca is not what America needs
pnwmom
(109,426 posts)So either you are wrong or . . .
It's not too late for you to go on the Exchange and look for a different policy, if you're not happy with what you have.
But if you're talking about a group policy at work, that has nothing to do with the ACA.
Doctor_J
(36,392 posts)certainly did go from 500 to 8300. Thanks for playing though
pnwmom
(109,426 posts)and your maximum out of pocket is for two people, not one -- so it's less than the individual maximum for people who get insurance through ACA.
Poor you.
noiretextatique
(27,275 posts)Why the callous attitude? A jump from 500 to 8300 is obscene.
freebrew
(1,917 posts)I just got off the phone after calling Anthem(30 minutes on the phone I'll never get back).
My wife has 'coverage' at the school she works for, my part costs about $400 out of her check, which is roughly now 30% of her pay. The monthly premium for a silver plan from Anthem is about $1300. The person on the phone assured me we were eligible for subsidy, but when I questioned her more thoroughly, found out that no, we aren't eligible because we have access to this shit for coverage.
We don't go to the doctor, as there's only 2 or 3 in the network around here. No co-pay, so a dr. visit costs about $100 every time we go and there are ALWAYS follow-ups.
It might be good for some, but the ACA is certainly NOT what we voted for and not what the US needs.
Too bad these rich bastards aren't being hunted...they deserve nothing less.
merrily
(45,251 posts)Turbineguy
(38,216 posts)From $782 to $309. (Fox News math skills help here). And as added punishment I have a better plan.