Daily Gains Letter

Obamacare


Obamacare a Boon for Biotechs?

By for Daily Gains Letter | Jun 13, 2013

Obamacare a Boon for BiotechsMuch hype has been made over how much “Obamacare” is going to cost Americans. The Republicans and, dare I say, the majority of Americans believe it will significantly increase the cost of insurance for people who buy it on their own. The Democrats have been quick to dismiss any such silly notions.

Slugging through the 3,256 pages that make up the Patient Protection and Affordable Care Act isn’t an option for most sentient beings, but, in a nutshell, the act is aimed at increasing health insurance coverage for Americans, while at the same time reducing the overall costs of healthcare.

Although Obamacare doesn’t come into effect until January 1, 2014, some numbers are beginning to trickle in. Now granted, I don’t think anyone ever believes the cost savings or cost overrun numbers handed out by either party; after all, both have their own agendas. At the same time, you’d like to think the numbers will be somewhat accurate.

President Obama promised that premiums would decrease for those who already have insurance. This is not so. According to preliminary data from the Ohio Department of Insurance, the average individual-market health insurance premium will increase 88% year-over-year to approximately $420.00 in 2014. (Source: “Health Insurance Costs to Increase Significantly Under Affordable Care Act,” Ohio Department of Insurance web site, June 6, 2013.)

Last month, California said its new insurance exchange would be cheaper in 2014 than it is today, falling anywhere from two percent above to 29% below the current market. Although, upon closer inspection, it was revealed that the report wasn’t really comparing apples to apples so much as apples to … Read More


Is Obamacare Killing America’s Medical Innovation?

By for Daily Gains Letter | Jun 11, 2013

Obamacare Killing America’s Medical InnovationThere are few things more unpopular in America right now than President Obama and “Obamacare,” or the Patient Protection and Affordable Care Act, as it’s known in the hallowed halls of Washington. According to a recent poll, 45%–49% of Americans disapprove of President Obama’s job performance; only 48%–45% approve. (Source: “American Voters 4-1 Want Special Prosecutor For IRS, Quinnipiac University National Poll Finds; But Fixing Economy Is More Important, Voters Say 3-1,” Quinnipiac University web site, May 30, 2013, last accessed June 10, 2013.)

America’s love for Obamacare is equally as tumultuous. Another poll shows that 49% of Americans say Obamacare is a bad idea, while just 37% consider it a good idea. On top of that, 38% say they will be worse off with Obamacare, while just 19% said they would be better off. (Source: “Health care law’s unpopularity reaches new highs,” NBC web site, June 5, 2013.)

The angst and love splits along party lines; 35% of Democrats say they will be better off under Obamacare, while just four percent of Republicans concur. Not surprisingly, individuals without health care have a more favorable view of Obamacare than those with health care. (Source: Ibid.)

No matter what you think of Obamacare, it’s going to forever change the way health care is delivered in this country. While President Obama claims the law is “the largest health care tax cut for working families and small business in our history” (source: “Obama’s Remarks on Health Care and Surveillance,” New York Times, June 7, 2013), to others, it’s not so clear cut. According to the Congressional Budget Office, the $1.0-trillion subsidy qualifies as … Read More