You can sigh as condescendingly as you wish, but it doesn't change the facts. Yes, you can wait until 2014 until many of the regulations take effect, but one of the major regs already in effect is the requirement that there is a review process which insurers must undergo before raising rates. It isn't curbing the cost of insurance or the cost of medical care and the mechanisms to do that are in place. The parts that are not yet in effect will raise the cost of health care further.
<sigh>
The provision regulating increase in rates only applies to insurance on the *private market*. In other words, if you go out on your own and buy an individual policy. I.e. you go directly to Humana and buy an insurance policy directly from them just for yourself. (only upper middle class and upper class people i.e. rich people generally do this)
The provision does *not* impact employer rates that they charge to employees through group insurance.
This is how health insurance works right now today (example):
Humana offers multiple group health insurance plans to employers -> Employers like Target look at the plans and decide what plan(s) they want to offer their employees -> Target tells humana they will buy, for example, Plan C -> Target pays Humana $50 million annually to cover all Target employees -> Target then decides how much of that $50 million they will pay and how much they will make TMs pay -> Target collects a monthly premium from TMs to offset the cost.
The provision you are talking about only applies to plans from the insurance company. Under the new health care law, you will be able to get plans *directly from the insurance company*. The law prohibits THOSE premiums from going up without review.
Right now, you are getting health care *from your employer*. (THIS is the major change the health care law is bringing about in 2014 - an end to having to get health insurance from your employer - now you can get it directly from the insurance company) When you pay your monthly health care premium out of your paycheck, that money is not going to the health insurance company. That money is going directly to Target. Guess what? Target is not a health insurance company. Therefore, they are free to require however much money they want from you. The law only applies to health insurance companies.
Let me say this again, you are getting health insurance *from your employer* right now today. This is how it is for everyone in america today. The law is only focused on *letting you get insurance directly from the insurance company*. In other words, *you are no longer dependent on your employer for insurance.*
If you want and bought the same insurance on the open market directly from Humana, for example, it could easily cost you $5000 a month. What Target is doing is basically buying the plan FOR YOU, and then giving it to you at a discounted rate. That is why it is a called a health care BENEFIT. The insurance company DOES NOT control how much money you pay for your monthly premium - your employer does. The insurance company could jack up the plan price from $50 million to $100 million dollars. Or it could drop it from $50 million to $40 million. Or they could leave it exactly the same. It is up to the employer (Target) to decide if they are going to alter the amount of premium they collect from you. That premium goes directly into Target's bank account - not the insurance company. Target already bought the policy for you - they are just collecting money from you to offset their costs of buying it for you to begin with.
The law is radically changing how this works. (Why do you think it was so controversial?) Instead of having to get insurance from your employer, you will be able to go on the open market and get it yourself directly from the insurance company. However, the law drastically changes the rates they can charge you. So instead of the health insurance company charging you $5000 a month like they would do today if you went and a policy directly from them, they now can only charge you $100 a month, for example. OR if you are so poor you can't even afford $100 a month, OR you can't even get it from your employer, you can sign up for medicaid instead in 2014, which is not available to most people today.
Obviously, I am using Target in this example.... but every other company in america uses this same model.
So to summarize - here is how the law changes things:
Today health insurance looks like this:
Humana offers multiple group health insurance plans to employers -> Employers like Target look at the plans and decide what plan(s) they want to offer their employees -> Target tells humana they will buy, for example, Plan C -> Target pays Humana $50 million annually to cover all Target employees -> Target then decides how much of that $50 million they will pay and how much they will make TMs pay -> Target collects a monthly premium from TMs to offset the cost.
Under the new law health insurance looks like this:
Humana offers multiple health plans for you as an individual to pick from -> You pick the plan you want, such as plan B -> You pay Humana directly $30 a month for your plan. That's it. Simple.
OR You can't afford health insurance at all. You go to your states Health and Human Services office and get on medicaid.[/COLOR][/COLOR][/COLOR]
^^^^^^^^This is what the health care law regulates, not the old (current) employer provided health insurance. That is dying out in 2014 and being replaced with what are called "health care exchanges". Do a google search on "Health Care Exchange" to learn more.