Interesting Phenomena
According to the New York Fed Reserve Bank the PPACA appears to be doing what it was intended to do besides grant more people healthcare. States that opted into the Medicaid expansion and the PPACA have experienced a decrease in the number of billings going to collection agencies.
“We see that between 2009 and 2015, the series is statistically and economically indistinguishable from zero in every quarter, which is consistent with the constant and parallel trends of the series in the first chart. This means that collections in counties that did not expand Medicaid grew along similar trends as in counties that did. However, starting in the first quarter of 2015, the difference in differences turns sharply negative. By the fourth quarter of 2015, the chart indicates that, on average, collections declined by more than $100 per capita in the counties most affected by the Medicaid expansion relative to less affected counties. This is a sizable decline, given that the mean of collection balances over our sample period is $280 (and the standard deviation is $186). Note that the declines do not start as soon as the ACA is implemented (in the first quarter of 2014)—this should not be surprising since bills can take many months to enter collections.”
States opting out of the Medicaid expansion and the PPACA experienced a continued rise in collection agency balances.
Hat Tip to Nancy Letourneau at the Washington Monthly who points out Obamacare’s Success in Protecting our Finances
Many countries no one goes bankrupt over losing their health.
Is that a public good?
All men being created equal…….
ilsm:
Oh I agree and nothing has happened since Hillarycare in 1982 when the cost of healthcare was <1/3rd of it is today. And when the PPACA was passed, it was passed without giving it the ability to control costs of various issues due to a Congress more in tune with the overall healthcare industry. ilsm, you have a point; but, it is an old point. Thank you anyway.
We was conned!
PPACA was passed to run more US tax money thru the insurance cabal.
A feature of Obama’s soft neoliberalism is to run tax money through sanctified market so producing public goods allow several iterations for skimming wasteful overhead and profits
ilsm:
I am sure all the insurance companies just love having to cover everyone regardless of pre-existing conditions. They are restricted to 3 times the going rate for a cheap young person as charged to an older person. 1.5 times for a smoker. 85% of the fees must go for medical coverage for group otherwise they have to rebate the fees. 80% for medical for individual policies otherwise they have to rebate it. Insurance companies are far cheaper in profit than lets say a Pfzer.
Ilsm,
Exactly how far is the nearest VA hospital to you?
Go directly there.
Do not pass Go.
Do not collect $200
EMichael
I am sorry to disappoint you.
I am not homeless, I qualified for a non disability military pension.
I might be eligible for hearing aids due to exposure to jet noise, but otherwise I am not eligible for any DVA assistance.
You can drop a few cents in any homeless vets paper cup.
Be assured it is not me.