Audie Cornish, a reporter for NPR, asked the congressman about tax credits in the bill:
CORNISH: Are tax credits essentially the same as government subsidies, right? You have some critics who say, look; either way, this is a kind of entitlement, and we're supposed to be getting rid of entitlements.
Brady's answer was as follows:
BRADY: Yeah, so I realize many of these are sort of wedge questions I think hoping to pit Republicans against Republicans, but tax credits have been a portion of every Republican - nearly every Republican health care plan for more than a decade. You know, credits that are focused on age that expand with your family - these are the credits that over time have been shown to provide the most affordable health care and don't contribute to ever-escalating premiums.
Is this guy a whack job? There have been no tax credits that "over time have [ ] shown to provide the most affordable health care and d[idn't] contribute to ever-escalating premiums", prior to the current Affordable Care Act (Obama Care). And I'm here to tell you that back into the late 90's, I am clear that premiums were escalating by an average of 15% per year with higher co-pays and deductibles as well as less coverage each year. So, I started looking around to see if my memory served me well, and gosh darn it, wouldn't you know I'm feeling pretty good about my recall.
So, let's see ........ average premiums were at there lowest point after the current health care act started and then started to rise again. Why? It couldn't have anything to do with the health insurance companies,now could it? I mean there were no tax credits in the late '90s and early 2000s and average yearly increases were high. There were no credits then. Obama care starts and premium increases are pretty darn low. Then they start to creep up again. There is no correlation here between a lower percentage in premium increase in relation to tax credits, because there were no tax credits over that period of time. What Brady said was a load of jumbo mumbo (jumbo = an elephant and mumbo = well........use your imagination).
By the way, I don't want anyone to think that health care premium increases started to go up the year after Obama Care became law, because of Obama Care. People often do not understand the difference between contiguity (two events close together in time and space) and cause & effect. People often think that because two events occurred close to each other that that automatically means that one caused the other. Sure, I understand that the insurance industry was being required to insure everyone that applied for health coverage. Sure I understand that youger, healthier people decided to opt out and therefore money from healthy people with low health costs wasn't being put in the pot to spread over to those that required more health care. But I also want you to know that health insurance companies were making plenty of money. Take a look at the following search results when I Googled "2010 to 2015 health insurers profits":
Jan 26, 2015 - 5:00 am, January 26, 2015 Updated: 5:00 am, January 26, 2015 ... Health insurersworking the system to pad their profits ... was $30.40 on March 23, 2010, the day President Obama signed the Affordable Care Act into law.
Mar 1, 2016 - As health carriers blame losses on Obamacare, their stocks gains continue to ... Despite record-breaking profits year after year, health insurance ... a profit of $11 billion (onrevenues of more than $157 billion) in 2015, .... In Mar 2010 when ACA was signed into law WCG was at 26, in Feb 2017 it was at 142.
Jan 21, 2015 - UnitedHealth just reported strong earnings and its stock is at a record high. ... margin since the Affordable Care Act, or Obamacare, was signed into law in March 2010. ... Obamacare isn't the only reason why health insurer stocks have been so hot though. ... It is up so far in 2015 while the S&P 500 is down.
5:09 PM 08/24/2015 ... As “stock market darlings,” health insurance company profits have skyrocketed to all-time highs and stocks have split ... the broader stock market by a wide margin since Obamacare was signed into law in March 2010.
Nov 1, 2016 - Major insurance companies are enjoying record profits but claim they are losing ... CEO Stephen J. Hemsley made over $20 million in 2015.
How about this search, "health insurance profits in 2016"?
Let's take a close look at health insurance companies' soaring profits. ... Friday, Oct 28, 201602:00 AM PDT ... a killing under Obamacare: The ACA gets blamed for rising premiums, while insurance companies are reaping massive profits.
Apr 27, 2016 - The pending departure of the big insurance company UnitedHealth from most of ... so much about the insurers who are reporting profits from the program. .... 2016 is the first year where the policies are priced on functionally ...
I think I've made my point. So my question remains......how long has this been going on? And more to the point, in a country that's this filthy rich, how long are we going to allow the insurance industry to make obscene profits on the backs of all Americans while not providing health care for all Americans. America is a great country, and there is plenty of money. In a post last year I proposed a health care plan and I'm going to reprint it here.
- For all individuals or households that report income of less than a certain defined amount (X) on there annual tax return, a health insurance card is automatically produced and sent to that individual & all members of the family and dependents listed in the return, They receive the same health care benefits that health insurance companies provide, but the payment will come from the Federal Government.
- for individuals that work for a company that generates less than a certain defined (Y) amount of revenue on their annual tax return (not profit), and their household reports less than (X) amount of incomee a health insurance card is automatically produced and sent to that individual & all members of the family and dependents listed in their return. The determination occurs because the employer i.d. number is listed on the the individual's tax return. This number is cross referenced to a data base which will check it against the employers tax return. As with the first solution, above, the individual & all members of the family and dependents listed in the return, receive the same health care benefits that health insurance companies provide, but the payment will come from the Federal Government.
- for individuals who make over the (X) amount and who work for companies that report higher than (Y) revenues, the company will be required to provide health insurance and the individual employee will be required to pay their portion of the health insurance for themselves and their families. This will be done with a private sector health insurer of the company's choosing.
If you read this carefully, you will see that every person in America has just received health insurance. The last question is why would anyone find this disagreeable? Republicans will scream "SOCIALISM" (the 'S' word) and their sheep will echo the word as though it was like saying the 'F' word or the 'P' word or the 'C' word or the 'N' word. BUT, let me go to any one of the "99%" and tell them that their Social Security was being taken away from them and watch how loud they scream bloody murder. We already practice Socialism. It is a good thing. It is "promot[ing] [ ] the public Welfare" as per the preamble of The Constitution and so will the plan, detailed above.
By the way, I don't want anyone to think that health care premium increases started to go up the year after Obama Care became law, because of Obama Care. People often do not understand the difference between contiguity (two events close together in time and space) and cause & effect. People often think that because two events occurred close to each other that that automatically means that one caused the other. Sure, I understand that the insurance industry was being required to insure everyone that applied for health coverage. Sure I understand that youger, healthier people decided to opt out and therefore money from healthy people with low health costs wasn't being put in the pot to spread over to those that required more health care. But I also want you to know that health insurance companies were making plenty of money. Take a look at the following search results when I Googled "2010 to 2015 health insurers profits":
Health insurers watch profits soar as they dump small business ...
https://www.publicintegrity.org/2015/.../health-insurers-watch-profits-soar-they-dump...Jan 26, 2015 - 5:00 am, January 26, 2015 Updated: 5:00 am, January 26, 2015 ... Health insurersworking the system to pad their profits ... was $30.40 on March 23, 2010, the day President Obama signed the Affordable Care Act into law.
No. Obamacare isn't killing the insurance industry. - HealthInsurance.org
https://www.healthinsurance.org/.../no-obamacare-isnt-killing-the-insurance-industry/Mar 1, 2016 - As health carriers blame losses on Obamacare, their stocks gains continue to ... Despite record-breaking profits year after year, health insurance ... a profit of $11 billion (onrevenues of more than $157 billion) in 2015, .... In Mar 2010 when ACA was signed into law WCG was at 26, in Feb 2017 it was at 142.
Thanks, Obamacare! Health insurer stocks soar - CNN Money
money.cnn.com/2015/01/21/investing/unitedhealth-earnings-obamacare/Jan 21, 2015 - UnitedHealth just reported strong earnings and its stock is at a record high. ... margin since the Affordable Care Act, or Obamacare, was signed into law in March 2010. ... Obamacare isn't the only reason why health insurer stocks have been so hot though. ... It is up so far in 2015 while the S&P 500 is down.
Obamacare Gives Big Windfall To Insurance Companies As Quality of ...
dailycaller.com/2015/.../obamacare-gives-big-windfall-to-insurance-companies-as-qu...5:09 PM 08/24/2015 ... As “stock market darlings,” health insurance company profits have skyrocketed to all-time highs and stocks have split ... the broader stock market by a wide margin since Obamacare was signed into law in March 2010.
Health insurance industry rakes in billions while blaming Obamacare ...
https://www.consumeraffairs.com/.../health-insurance-industry-rakes-in-billions-while...Nov 1, 2016 - Major insurance companies are enjoying record profits but claim they are losing ... CEO Stephen J. Hemsley made over $20 million in 2015.
How about this search, "health insurance profits in 2016"?
Making a killing under Obamacare: The ACA gets blamed for rising ...
www.salon.com/2016/.../making-a-killing-under-obamacare-the-aca-gets-the-blame-f...Let's take a close look at health insurance companies' soaring profits. ... Friday, Oct 28, 201602:00 AM PDT ... a killing under Obamacare: The ACA gets blamed for rising premiums, while insurance companies are reaping massive profits.
Healthcare shocker: These insurers are making money on Obamacare ...
www.latimes.com/.../la-fi-hiltzik-obamacare-profits-20160427-snap-htmlstory.htmlApr 27, 2016 - The pending departure of the big insurance company UnitedHealth from most of ... so much about the insurers who are reporting profits from the program. .... 2016 is the first year where the policies are priced on functionally ...
- For all individuals or households that report income of less than a certain defined amount (X) on there annual tax return, a health insurance card is automatically produced and sent to that individual & all members of the family and dependents listed in the return, They receive the same health care benefits that health insurance companies provide, but the payment will come from the Federal Government.
- for individuals that work for a company that generates less than a certain defined (Y) amount of revenue on their annual tax return (not profit), and their household reports less than (X) amount of incomee a health insurance card is automatically produced and sent to that individual & all members of the family and dependents listed in their return. The determination occurs because the employer i.d. number is listed on the the individual's tax return. This number is cross referenced to a data base which will check it against the employers tax return. As with the first solution, above, the individual & all members of the family and dependents listed in the return, receive the same health care benefits that health insurance companies provide, but the payment will come from the Federal Government.
- for individuals who make over the (X) amount and who work for companies that report higher than (Y) revenues, the company will be required to provide health insurance and the individual employee will be required to pay their portion of the health insurance for themselves and their families. This will be done with a private sector health insurer of the company's choosing.
If you read this carefully, you will see that every person in America has just received health insurance. The last question is why would anyone find this disagreeable? Republicans will scream "SOCIALISM" (the 'S' word) and their sheep will echo the word as though it was like saying the 'F' word or the 'P' word or the 'C' word or the 'N' word. BUT, let me go to any one of the "99%" and tell them that their Social Security was being taken away from them and watch how loud they scream bloody murder. We already practice Socialism. It is a good thing. It is "promot[ing] [ ] the public Welfare" as per the preamble of The Constitution and so will the plan, detailed above.
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