Read on Twitter
"Mike made me do it" thread: let's look at two lobbyists implemented, Congress sanctified frauds.
1. Part of ObamaCare was HITECH Act = hundreds of pages of regulations = steered $30b via Medicare reimbursements as incentives for hospitals&drs to buy med-record software https://twitter.com/Cernovich/status/1152053209151631360
1. Part of ObamaCare was HITECH Act = hundreds of pages of regulations = steered $30b via Medicare reimbursements as incentives for hospitals&drs to buy med-record software https://twitter.com/Cernovich/status/1152053209151631360
Hospitals/providers, etc took the money.
Then in the days of 'journos', there was an investigative journo = documented how thousands of drs/hospitals/insurance cos billed Medicare for costly health care = adding $11b+ or more to fees. The HITECH act made it much easier for fraud
Then in the days of 'journos', there was an investigative journo = documented how thousands of drs/hospitals/insurance cos billed Medicare for costly health care = adding $11b+ or more to fees. The HITECH act made it much easier for fraud
Americans were told by Politicians...who were told by lobbyists...that HITECH act would create cost savings...but it was INCREASING fraud = Doctors/hospitals were receiving money by simply attesting that they are meeting required standards
Here's another fraud
2. Did you ever wonder what VC and and PE firms were getting into the "help old people biz".
It's because of a new industry. Let's call it... Overcharging as a Service OaaS.
It's the house call racket = profit because Medicare pays providers higher rates..
2. Did you ever wonder what VC and and PE firms were getting into the "help old people biz".
It's because of a new industry. Let's call it... Overcharging as a Service OaaS.
It's the house call racket = profit because Medicare pays providers higher rates..
...for sicker patients using a billing formula known as a risk score = home visit 'finds' a medical condition = health plans raise a person’s risk score = thousands $ in added Medicare revenue over a year — even if they don’t incur any added expenses caring for that person.
The billing process = 70+ health conditions, depending on their severity = increases risk scores, and thus the payments.
Here's the catch, fraud likely will never get discovered..why...because CMS (Medicare Agency) has 16+ million patients to track...
Here's the catch, fraud likely will never get discovered..why...because CMS (Medicare Agency) has 16+ million patients to track...
CMS largely trusts health plans to make sure risk scores are accurate. When the agency has checked = scores that were too high — in nearly a 1/3
UnitedHealth made more than 700,000 house calls last year.
UnitedHealth made more than 700,000 house calls last year.
Matrix Medical Network is huge at this...thehre backed by a VC firm. They use use telemarketers to set up home appointments. Tom Scully = head of CMS under GWB = is on Matrix Board and the VC firm who funds it.
Bush/Obama... Look where many of their top ppl went. Private equity into the old folks biz. Friday had high margins
It wasn't just GWB, Obama likes bestowing bling
Meet Nancy-Ann DeParle, Obama created the role of Assistant to the President and Deputy Chief of Staff for Policy, she was the ObamaCare czar. After that she co-founded an investment firm that specializes...
Meet Nancy-Ann DeParle, Obama created the role of Assistant to the President and Deputy Chief of Staff for Policy, she was the ObamaCare czar. After that she co-founded an investment firm that specializes...
healthcare. She went on several boards of directors. One of them is CVS, which recently acquired Aetna, a bigly health insurer.
Another board she went on is HCA.
Do you know who HCA is?
Another board she went on is HCA.
Do you know who HCA is?
Former Florida Governor and current Senator, Rick Scott was once its CEO and during that time it paid $1.7 billion in what was at the time the largest health care fraud settlement in U.S. history.
It is the largest non-governmental healthcare.. 2018 they had more than 400,000 individuals who obtained insurance coverage through the ACA sought health care from HCA Healthcare facilities. Bigly margins in fraud, when you're caught you only have to give back a lil bit
Obama opened up the vaults under the guise of 'healthcare' just like Bush did under the guise of "Saddam did it"...
Meet, Marilyn Tavenner, appointed by Obama, she was the Medicare Czar - who oversaw the TRILLION dollar program. Guess where she went...
Meet, Marilyn Tavenner, appointed by Obama, she was the Medicare Czar - who oversaw the TRILLION dollar program. Guess where she went...
She became a lobbyist, the new CEO of America’s Health Insurance Plans (AHIP). https://thehill.com/policy/healthcare/248024-former-obamacare-official-becomes-top-lobbyist-for-insurer-group
I've always thought the turning point in America, "how we got here" was after the banking crisis...
No significant bankers went to jail.
/end.
Enjoy this thread... https://twitter.com/adamscrabble/status/1143269965820309506?s=19
No significant bankers went to jail.
/end.
Enjoy this thread... https://twitter.com/adamscrabble/status/1143269965820309506?s=19
Oh by the way, Congress found the bipartisan votes to screw you...
They just did it in front of everyone. This bill is a guarantee of much worse healthcare to come. No consumer requested it, lobbyists, big unions and low wage employers wanted it. https://www.cnbc.com/2019/07/17/house-set-to-repeal-obamacares-widely-disliked-cadillac-tax.html
They just did it in front of everyone. This bill is a guarantee of much worse healthcare to come. No consumer requested it, lobbyists, big unions and low wage employers wanted it. https://www.cnbc.com/2019/07/17/house-set-to-repeal-obamacares-widely-disliked-cadillac-tax.html
Fixed it:
**widely disliked by lobbyists**
**widely disliked by lobbyists**
From 2015 "While Republicans are also on the record opposing the Cadillac tax, it is Democrats who are increasingly taking the lead on repeal, in part due to intense pressure from allies in the labor movement." https://thehill.com/policy/healthcare/259429-reid-pelosi-pushing-repeal-of-cadillac-tax
Sorry, Obamacare was a lobbyist/pharma/aarp/union/insurance company... get rich quick.
You got stuck with the cost and all its taxes...
"On Wednesday, that feature, once considered central to Obamacare, was dealt a blow by an unlikely foe: Democrats." https://www.nytimes.com/2019/07/17/us/politics/obamacare-democrats-cadillac-tax.html
You got stuck with the cost and all its taxes...
"On Wednesday, that feature, once considered central to Obamacare, was dealt a blow by an unlikely foe: Democrats." https://www.nytimes.com/2019/07/17/us/politics/obamacare-democrats-cadillac-tax.html
Will the Dem candidates on debate stages be asked about killing of the "Cadillac tax", nah.
Why not. Because media doesnt want to piss off their BIGGEST advertisers, behold the pharma budget https://www.fiercepharma.com/marketing/pharma-and-healthcare-digital-ad-spend-to-reach-10-billion-next-year-ersonalization-key
Why not. Because media doesnt want to piss off their BIGGEST advertisers, behold the pharma budget https://www.fiercepharma.com/marketing/pharma-and-healthcare-digital-ad-spend-to-reach-10-billion-next-year-ersonalization-key
"At long last, after decades of false starts, we must make this our most urgent priority: giving every American health security, health care that can never be taken away, health care that is always there." - Pres Clinton, 1993
Meh
Meh
What is the Cadillac tax I think I heard you ask...
According to economic philosophers in the ObamaCare camp, the tax was designed to slowdown healthcare increases/coerce employERS to restructure plans by increasing cost sharing =consume less health care = lower medical spending
According to economic philosophers in the ObamaCare camp, the tax was designed to slowdown healthcare increases/coerce employERS to restructure plans by increasing cost sharing =consume less health care = lower medical spending
The Cadillac tax was also intended to RAISE revenue to pay for other key components of the ACA, including subsidies to help low- and middle-income families afford coverage through the health insurance marketplaces. - this is crucial to understand, so say it again with feeling
The shitty hacks for hire at the Congressional Budget Office (CBO) scored the tax’s revenue impact and estimated that it would raise $30 billion in ADDITIONAL federal revenue in its first two years (2018 and 2019).
But, all of this was wishful thinking...because a key dynamic was how employERS would respond to the new tax. Oh boy...
the revenue estimates from CBO combined direct/indirect revenues.
Direct revenue = 40% excise tax collected from private health insurers.
the revenue estimates from CBO combined direct/indirect revenues.
Direct revenue = 40% excise tax collected from private health insurers.
Indirect revenue = increase in Fed income/payroll taxes that they expected to result from higher wages accompanying switch to plans w/lower actuarial values & dropping of coverage expected to occur in response to the net price increase.... (whew)
CBO ASS-U-ME'd that workers ultimately pay for their health insurance benefits through lower wages because total compensation should remain unchanged in competitive labor markets.
What does this actually mean Adam?
What does this actually mean Adam?
Indirect revenue - theory (quackery) that says that workers bear cost of more $$ plans w/lower wages = there’s a lump sum amount that companies spend compensating workers. It goes into either wages or benefits — so when benefits get more expensive, wages go down.
The theory - once the Cadillac tax is imposed, employers will do things to increase the deductible or change the drug formulary to try and lower costs, They’ll offset that by raising the wages of workers.
Oh well, didnt happen. They just fired ees and/or made them gig workers
Oh well, didnt happen. They just fired ees and/or made them gig workers
The Cadillac tax to fund ObamaCare was built on the Paul Krugman'ian type economic model that when employers cut benefits, they raise wages. And that’s why the income and payroll taxes are going to rise.
The CBO assumes employers will simply give raises with the money saved
The CBO assumes employers will simply give raises with the money saved
You every wonder how you can read that ObamaCare is saving tens of billions or is even a 'good' thing.
...Bad economic models peddled by Krugman'esque sycophants to political and lobbyists
“power concedes nothing without a demand” - some guy on the subway
/end
...Bad economic models peddled by Krugman'esque sycophants to political and lobbyists
“power concedes nothing without a demand” - some guy on the subway
/end
