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So President Obama says that a health -- is becoming more affordable in some cases he said.
In states like Oregon California Washington State I think he also mention.
Eight he says it is reducing costs to the consumer.
By something like 50%.
That the critics of the affordable health care act say that it is raising costs for the consume -- every way.
I don't know what it all means that you probably don't know what it all means but fortunate for us Kate Rogers of Fox Business does know what it all means.
-- let's let's get to the basics first the affordable.
Health cat act.
Walked all the basics the very basics that all of us should be aware of as we try to decide whether it's making it cheaper -- more expense.
Absolutely so the one that we hear all the time -- January 1 2014.
Every individual US citizen in this country is federally mandated to have insurance or they have to pay a fine.
Now the year after which just got rolled back is the employer mandate portion of the bill to January 1 2015 all businesses with at least fifty or more full time employees.
Have to offer their workers health care insurance or they opt to pay a fine.
The bill also sets up these.
And fifteen states and the District of Columbia have said that they will run state operated health care and she exchanges which are marketplaces -- -- -- coverage.
And the other remaining states we'll have to go through federally run exchanges and then most importantly.
There is more than 20000 pages of regulations in this bill and as we all -- businesses and insurers are businesses they do not like regulations and don't like -- government.
Telling them what to do.
Businesses don't like it but the President Obama says that it's better for the consumer.
Much in these in the state marketplaces IE I have no idea what the true for the truth of all this is but you say the businesses don't like it so what are the insurance companies doing as a result so.
In recently CC developments across the country starting in California.
They have been aggressively setting up their health care exchange they're called -- California.
And three incher is left the market -- they fled the individual market.
-- -- so to say so at half Cigna and united health care at all decided not to list on California's exchange.
They're not going to be offering individuals coverage so you know -- the president said if you like your health care plan you can keep it.
What you currently have coverage from one of those three providers he can't keep it because they're leaving.
So hopefully other insurers will pick them up -- -- have to change coverage.
Similarly in Iowa -- well mark which is their largest private insurer in the state decided not to list on their exchange.
For a lack of information on the -- they needed more information.
Before deciding to list and then finally.
And I came out the letter -- it's in in charities nationwide basically saying the ETA has changed health care as we know it and that many people will likely be paying more for their coverage under the new law.
-- and so -- that's the issue for the consumers that there -- that according to those figures they gonna pay more.
They may pay more because some behind -- say it's just basic supply and demand -- more people in the system the demand for coverage goes up which drives prices up.
And with fewer insurers in the system.
That brings supply down which also -- place prices up that's kind of like a supply demand double whammy that could really drive up prices for consumers yet.
Not all right okay Kate -- a foxbusiness.com.
You have peace upon Fox Business don't come right now yes that's up on our monastery very good go take a look at it it will explain everything to you because clearly I'm not capable Kate thank you for letting them they have gotten very useful and that.
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