Economic reality is making it increasingly obvious that we are in the midst of Obamacare’s long anticipated death spiral. Most recently, Aetna joinedUnitedHealthcare and Humana as the third of the “big five” insurance firms to announce major cuts to its Obamacare exchange business.
For insurers, it’s simple math: Premiums collected must exceed claims paid. If too few healthy, low risk individuals enroll to offset the costs of insuring unhealthy, high risk individuals, the math doesn’t work. This imbalance forces insurers to raise premiums on the low risk individuals who do enroll to cover the costs of insuring high risk individuals. The rising premiums cause even more healthy individuals to drop coverage – resulting in what has been called a death spiral.
These teachers supported Obamacare and now they want taxpayers to pay for more of the annual “platinum” health benefit premiums? Maybe the teachers should read today’s WSJ article looking at growth in middle-class families’ share of overall healthcare spending, which is growing larger, and squeezing households already feeling stretched financially. The article notes that by 2014, middle-income households’ healthcare spend was 25% higher than what they were spending before the recession, with these households cutting back sharply on more discretionary categories such as dining out and clothing. It adds that rising out-of-pocket costs combined with slow economic growth and years of tepid wage growth in the private sector pose risks for an economy in which consumer spending accounts for more than two-thirds of overall output. So why do the teachers expect that taxpayers in Ridgewood will just forever subsidizing more of their health benefits, which are already better than the deal in the private sector?
My son has been paying $2,100 a month for one of these individual insurances. When his daughter broke her elbow, his wife had to call 13 physicians before finding one who would see an 11 year old child! This policy was a replacement for his policy of last year –which was just as bad– which the insurer dropped to join the Hackensack group only. Now he has been notified that this one is leaving NJ at the end of the year. He’s in business for himself and really doesn’t know what he is going to do. And, of course, before Obamacare he had a policy that they loved with much lower premiums. But what Obama really meant was “if you have a policy you like, you can (dream on) keep it.”
HARTFORD, Conn., Aug. 16 (UPI) — Healthcare insurer Aetna Inc. announced it will pull out of the Affordable Care Act individual public exchanges in 11 states after millions of dollars in losses.
In a statement Monday, Aetna said it will remain in Delaware, Iowa, Nebraska and Virginia, but will stop offering policies in 11 other states, beginning in 2017.
“No one can see a bubble. That’s what makes it a bubble.” That was Christian Bale’s character’s summation of a market bubble in last year’s hit movie “The Big Short,” which chronicled the few investors who saw the signs pointing to the mortgage market collapse. With terrorism, email scandals and race relations dominating the headlines, has a healthcare bubble been filling up quietly behind the scenes?
Since the 2010 passage of the Patient Protection and Affordable Care Act (ACA or ObamaCar), the health care industry has seen record growth and increased revenues. Why? Illness, especially chronic, sadly is a moneymaking business. Illness requires more office visits, more hospitalizations and inevitably more bills. ObamaCare halted insurance companies’ practice of rating premiums based on a customers illness history, or as more commonly known, preexisting conditions.
In the 2013 rollout of the ObamaCare exchanges, the promised result was that more people would have insurance coverage. Undoubtedly, this part of the law worked. By Jan. 7, 2016, more than 11.3 millionAmericans had signed up for ObamaCare; by March,20.3 million were covered. A large percentage of these new insureds were high-risk. As NBC reportedin April, “Last month, an analysis of medical claims from the Blue Cross Blue Shield Association concluded that insurers gained a sicker, more expensive patient population as a result of the law.”
While bad for insurance companies, this was very good for the bottom lines of the merging large healthcare systems and newly formed physician monolith groups. A drafter of the lawadmitted the law was founded on the belief that the “consolidation of doctors into larger physician groups was inevitable and desirable.” With consolidation, the dollars have racked up. According to U.S. News & World Report, “from June 3, 2010, to June 30, 2015, the Russell 3000 Healthcare benchmark (an all capitalization index) posted a gain of 176.8 percent.”
Ridgewood NJ, While the media is commenting of ‘fried chicken”, babies crying and who is the devil, Donald Trump releases plans for real healthcare reform.
HEALTHCARE REFORM TO MAKE AMERICA GREAT AGAIN Since March of 2010, the American people have had to suffer under the incredible economic burden of the Affordable Care Act—Obamacare. This legislation, passed by totally partisan votes in the House and Senate and signed into law by the most divisive and partisan President in American history, has tragically but predictably resulted in runaway costs, websites that don’t work, greater rationing of care, higher premiums, less competition and fewer choices. Obamacare has raised the economic uncertainty of every single person residing in this country. As it appears Obamacare is certain to collapse of its own weight, the damage done by the Democrats and President Obama, and abetted by the Supreme Court, will be difficult to repair unless the next President and a Republican congress lead the effort to bring much-needed free market reforms to the healthcare industry.
But none of these positive reforms can be accomplished without Obamacare repeal. On day one of the Trump Administration, we will ask Congress to immediately deliver a full repeal of Obamacare.
However, it is not enough to simply repeal this terrible legislation. We will work with Congress to make sure we have a series of reforms ready for implementation that follow free market principles and that will restore economic freedom and certainty to everyone in this country. By following free market principles and working together to create sound public policy that will broaden healthcare access, make healthcare more affordable and improve the quality of the care available to all Americans.
Any reform effort must begin with Congress. Since Obamacare became law, conservative Republicans have been offering reforms that can be delivered individually or as part of more comprehensive reform efforts. In the remaining sections of this policy paper, several reforms will be offered that should be considered by Congress so that on the first day of the Trump Administration, we can start the process of restoring faith in government and economic liberty to the people.
Congress must act. Our elected representatives in the House and Senate must:
Completely repeal Obamacare. Our elected representatives must eliminate the individual mandate. No person should be required to buy insurance unless he or she wants to.
Modify existing law that inhibits the sale of health insurance across state lines. As long as the plan purchased complies with state requirements, any vendor ought to be able to offer insurance in any state. By allowing full competition in this market, insurance costs will go down and consumer satisfaction will go up.
Allow individuals to fully deduct health insurance premium payments from their tax returns under the current tax system. Businesses are allowed to take these deductions so why wouldn’t Congress allow individuals the same exemptions? As we allow the free market to provide insurance coverage opportunities to companies and individuals, we must also make sure that no one slips through the cracks simply because they cannot afford insurance. We must review basic options for Medicaid and work with states to ensure that those who want healthcare coverage can have it.
Allow individuals to use Health Savings Accounts (HSAs). Contributions into HSAs should be tax-free and should be allowed to accumulate. These accounts would become part of the estate of the individual and could be passed on to heirs without fear of any death penalty. These plans should be particularly attractive to young people who are healthy and can afford high-deductible insurance plans. These funds can be used by any member of a family without penalty. The flexibility and security provided by HSAs will be of great benefit to all who participate.
Require price transparency from all healthcare providers, especially doctors and healthcare organizations like clinics and hospitals. Individuals should be able to shop to find the best prices for procedures, exams or any other medical-related procedure.
Block-grant Medicaid to the states. Nearly every state already offers benefits beyond what is required in the current Medicaid structure. The state governments know their people best and can manage the administration of Medicaid far better without federal overhead. States will have the incentives to seek out and eliminate fraud, waste and abuse to preserve our precious resources.
Remove barriers to entry into free markets for drug providers that offer safe, reliable and cheaper products. Congress will need the courage to step away from the special interests and do what is right for America. Though the pharmaceutical industry is in the private sector, drug companies provide a public service. Allowing consumers access to imported, safe and dependable drugs from overseas will bring more options to consumers.
The reforms outlined above will lower healthcare costs for all Americans. They are simply a place to start. There are other reforms that might be considered if they serve to lower costs, remove uncertainty and provide financial security for all Americans. And we must also take actions in other policy areas to lower healthcare costs and burdens. Enforcing immigration laws, eliminating fraud and waste and energizing our economy will relieve the economic pressures felt by every American. It is the moral responsibility of a nation’s government to do what is best for the people and what is in the interest of securing the future of the nation.
Providing healthcare to illegal immigrants costs us some $11 billion annually. If we were to simply enforce the current immigration laws and restrict the unbridled granting of visas to this country, we could relieve healthcare cost pressures on state and local governments.
To reduce the number of individuals needing access to programs like Medicaid and Children’s Health Insurance Program we will need to install programs that grow the economy and bring capital and jobs back to America. The best social program has always been a job – and taking care of our economy will go a long way towards reducing our dependence on public health programs.
Finally, we need to reform our mental health programs and institutions in this country. Families, without the ability to get the information needed to help those who are ailing, are too often not given the tools to help their loved ones. There are promising reforms being developed in Congress that should receive bi-partisan support.
To reform healthcare in America, we need a President who has the leadership skills, will and courage to engage the American people and convince Congress to do what is best for the country. These straightforward reforms, along with many others I have proposed throughout my campaign, will ensure that together we will Make America Great Again.
1,100 applicants for Ridgewood BOE job openings in the past 12 months. Hopefully there are a lot more job openings once we get rid of the thugs pictured above. Can anyone name these people? The look on their faces tells it all: they are smug, self-entitled, and angry about $15 co-pays instead of the current $10… let’s fire the malcontents and replace them with educators who want to work with our kids.
These teachers and their benefits are out of control. Hold the line BOE. Thank goodness most of our volunteer BOE members don’t have kids in the schools anymore – the REA abused previous board members who did have kids with veiled threats and heaped abuse. The REA’s tactics are in BAD faith, and they are selfish. Support our students, support the BOE and support Ridgewood taxpayers.
The greedy teachers don’t $15 co-pays, they want to keep $10. And their platinum coverage covers up to 96% of medical expenses both in and out of network with full family coverage worth $28,000 a year in premiums…. NO ONE in the private sector gets a plan like that, only greedy public sector workers who think it’s their right.
You are blatantly misleading readers and twisting facts!!! Assuming you pay average Ridgewood property taxes of $16,000 a year, and assuming you are, in fact, a soon to retire teacher, then your $16,000 in property taxes helps cover the cost of Village contributions towards your lifetime defined benefit TPAF pension.
Assuming you are a Tier 1 member (enrolled in TPAF before July 2007), you can retire between age 55~60 you will receive full retirement benefits. To calculate how much your annual pension is worth, you divide your service time by 55, then multiple that by your average salary for the three years immediately preceding your retirement. So say 35 years divided by 55 = 63.6% of your average final salary $118,000 = $75,000 in taxpayer protected, defined benefit pension every year until you die which will be more than 25+ years if you retire at 60 and live to the average U.S. lifespan of 85 years. For this you contributed only 6.5% of your base salary but you get a defined benefit amount in retirement plan, i.e. you are insulated from any investment risk and benefit from taxpayer protected pension plan with an assumed annual rate of return of 7.95%. Yes the percentage contribution will gradually climb to 7.5% by 2018, but it’s still less than the 10% that PFRS members contribute and you take no investment risk like the rest of us with defined contribution IRAs or 401(k) plans. Those who enrolled in TPAF on June 28, 2011, or later are won’t be eligible until 65 for a pension, but that is for members who will retire in 35+ years from now, NOT you.
That $16,000 in property taxes also helps to subsidize your “Platinum” level health benefits, as defined by the ACA, which is an annual benefit of up to $28,000 a year depending on family member coverage. This plan covers up to 96% of eligible medial costs with $10 co-pays..TPAF members with at least 10 years of service time also receive a free group life insurance policy payable upon their death to their beneficiaries. You can also choose to purchase an additional group life policy that costs 0.4% of your paycheck. Not bad for $16,000 in property taxes, which is why it means you should be ASHAMED of your comment that “I am Ridgewood tax payer too and suffer just like you when the rates increase.” You don’t suffer, it’s in YOUR beneficial interest because you benefit from increased taxes which help pay for your retirement. Put in $16,000 a year in property taxes and get out over $105,000 in annual benefits. So please tell the whole story here or it truly is “shame on you.”
I think it is time for the parents to speak up. Clearly there are many of us that feel the teachers have been handed a pretty sweet deal over the years. Why should they be entitled to anything more than the rest of us deserve? Just because they look after our children? The fact that they are only required to actually teach them 23 hours a week blows my mind. We have tried to speak on social media, but when we do we are shot down. We try to speak anonymously but again we are attacked. The lack of signs that around town show how little support the teachers are getting. I think at the next BOE meeting we need to show ourselves in numbers. We need to speak and let our voices be heard. We need to show them that there are fewer supporters for the teachers than they they think. It is time for the bullying by the teachers and union end and we take a stand and support our children and the BOE. The fact is that the teachers are complaining that morale is low. Just by signing a contract is not going to change anything. You have lost the respect of many of the parents in this town and the example you are setting is not the one I want to have my children live by. I think that many of us would gladly welcome new blood. As teachers I thought you would support your peers. The attitude you have is there is none better than you. Remember you were young once too. Don’t take your job for granted!..
…We can’t speak because our children would likely by personally targeted by Yannone and the REA. It is despicable what the REA is doing. Last year teachers at the high school turned out the lights at 3:14 on kids coming for extra help during period 9. They also had their coats on 3:12 just to make sure they didn’t spend an “extra” minute in the building. Several overnight field trips including those associated with special honors programs and sold as part of the curriculum were cancelled in a capricious and arbitrary manner, and despite the strenuous efforts of the classroom teachers to hold the trips. Of course this year we won’t have to worry about that since we have been told that ALL clubs and field trips will be cancelled. I imagine this will start to more directly impact the younger kids this year. Hard to feel sympathetic for the teachers and their fight against the $5 copay bump. But having seen how they operated last year – there is no way I would speak publicly at a board meeting. The REA, in my opinion, would not hesitate to harass students that are children of complainers.
Another hospital has dropped out of a lawsuit mounted by several New Jersey hospitals against Horizon Blue Cross Blue Shield. Capital Health joined Trinitas Regional Medical Center and St. Luke’s Warren Campus in withdrawing from the lawsuit over the insurance giant’s new tiered hospital networks, leaving only four complainant hospitals. JT Aregood, PolitickerNJ Read more
Taxes are too high, why are we paying $102mn a year for schools that aren’t living up to their reputation? The teachers are a huge part of the problem here, and their “bad faith” negotiations are only making things worse. Why do they deserve better health care benefits, i.e. lower co-pays, than the taxpayers subsidizing their plans?
These teachers have lost so much credibility in our community through their actions/inactions, words, and greed. They’re riding the reputation of excellence despite not being excellent themslves – time for new educators who actually want to work with our students and help them.
This commentator is aware of a long-tenured RHS teacher in an important academic subject (won’t get any more specific than that) that was on full mail-it-in mode all year, for no good reason. Near the end of the year, it got even worse. The teacher’s students suffered needlessly, particularly grade-wise. Like, all of them. We need new blood. Teacher misbehavior in light of this contract dispute has gotten out of hand in terms of its spitefulness. Ridgewood residents and taxpayers should not allow themselves to forget this…
it’s even worse than that. The teachers recruit our own kids to fight their proxy war through indoctrination. I read a recent article in the paper about the various ‘Teachers of the Year’ nominated by students. One of Ridgewood’s teachers was complaining how anti-teacher it was in his school instead of being thankful for the nomination. He can always go to another district if he doesn’t like his six-figure 10 month job.
Ridgewood teachers are some of the highest paid in the entire State. We all want raises and better health care from our employers but most of us are just happy to have a job now. In fact if anyone I know behaved the way these protesting teachers have been they would be fired. The teachers don’t seem to understand that things are not great for a lot of people since the recession and recovery has been slow. Those who enjoy the security of tenure, and automatic raises can’t seem to grasp what is going on for so many of us struggling to pay our taxes. Hold the line BOE. Teachers unhappy with their jobs in our school system should look elsewhere. We don’t need malcontents in our classrooms and there are a lot of people who would be very happy to have their jobs..
I like the idea of a referendum on the teachers contract, so long as it’s binding. We had great teachers and administrators who built up the reputation of Ridgewood schools. The current bunch? Meh. They seem to care more about their health benefits than our kids. If you witnessed their behavior this past school year you’d agree they’ve done nothing to carry on the “tradition of excellence”. More like “riding on the coat-tails of the reputation built by the predecessors.” They are trying to bully us with the backing of NJEA lawyers and lobbyists. We need to support our BOE and students, if only they elicited the same grassroots support that the we’ve seen opposing the most recent garage proposal and Valley!
BOE Meets on June 28 at 5 p.m.: Please note change of date, time.
June 27,2016
the staff of the Ridgewood blog
Ridgewood Nj, The Ridgewood Board of Education will hold a Regular Public Meeting on Tuesday, June 28, 2016 at 5 p.m. The meeting will be held in the Board Room at the Education Center, 49 Cottage Place. The public is invited to attend the meeting or view it live via the district website at www.ridgewood.k12.nj.us using the “Live BOE Meeting” tab on the district website, or on Fios tv channel 33 or Optimum 77.
Click here to view the agenda for the June 28, 2016 Regular Public Meeting.
Click here to view the 2016-2017 Budget presented at the May 2, 2016 Regular Public Meeting.
Click here to view the Full Day Kindergarten Recommendation presented to the Board at their March 7, 2016 Regular Public Meeting.
BOE-REA Negotiations
Click here to view the powerpoint presentation regarding the Fact Finder’s report and recommendations, presented at the June 6, 2016 Regular Public Meeting.Clickhere to view the presentation by Ms. Brogan and Mr. Morgan.
In accordance with New Jersey P.L. 2003, c. 126, the Board has made the May 16th Fact-finding Report and Recommendations public and has posted it to the District’s website. At the June 6th Board of Education Public Meeting, the Board will discuss the report and the recommendations. The Board will accept or reject the Fact-finder’s recommendations at that time. Click here to read the Fact Finders Report and Recommendations dated May 16, 2016.
BOE Meets on June 27 at 6:30 p.m.
The Ridgewood Board of Education will hold a Regular Public Meeting on Monday, June 27, 2016 at 6:30 p.m. The meeting will be held in the Board Room at the Education Center, 49 Cottage Place. The public is invited to attend the meeting or view it live via the district website at www.ridgewood.k12.nj.us using the “Live BOE Meeting” tab on the district website, or on Fios tv channel 33 or Optimum 77.
Click here to view the agenda for the June 6, 2016 Regular Public Meeting.
Click here to view the minutes of the May 16, 2016 Regular Public Meeting.
Click here to view the 2016-2017 Budget presented at the May 2, 2016 Regular Public Meeting.
Click here to view the Full Day Kindergarten Recommendation presented to the Board at their March 7, 2016 Regular Public Meeting.
BOE-REA Negotiations
Click here to view the powerpoint presentation regarding the Fact Finder’s report and recommendations, presented at the June 6, 2016 Regular Public Meeting.Clickhere to view the presentation by Ms. Brogan and Mr. Morgan.
In accordance with New Jersey P.L. 2003, c. 126, the Board has made the May 16th Fact-finding Report and Recommendations public and has posted it to the District’s website. At the June 6th Board of Education Public Meeting, the Board will discuss the report and the recommendations. The Board will accept or reject the Fact-finder’s recommendations at that time. Click here to read the Fact Finders Report and Recommendations dated May 16, 2016.
Click here to read a Letter to the Editor of The Ridgewood News, published on April 8, 2016.
Click here to view the Ridgewood Board of Education’s Post Hearing Fact Finding Brief and attachments.
Click here to view an analysis of “Unused Funds’ identified by the REA during Fact Finding Proceedings, presented at the March 7, 2016 Regular Public Meeting.
Click here to read a Letter to the Editor of The Ridgewood News, which appeared in the paper on March 4, 2016.
Click here to read the Ridgewood Board of Education’s Fact-Finding Presentation with The Ridgewood Education Association.
Click here to view the backup for the Ridgewood Board of Education’s Fact-Finding Presentation with The Ridgewood Education Association.
