What We Read Today 27 November 2014

Econintersect: Every day our editors collect the most interesting things they find from around the internet and present a summary “reading list” which will include very brief summaries (and sometimes longer ones) of why each item has gotten our attention. Suggestions from readers for “reading list” items are gratefully reviewed, although sometimes space limits the number included.

UPDATE 6-OPEC heading for no output cut despite oil price plunge (Alex Lawler, Amena Bakr and Rania El Gamal, Reuters) OPEC Gulf oil producers will not propose an output cut on Thursday, reducing the likelihood of joint action by OPEC to prop up prices that have sunk by a third since June. Iran sees an oil glut next year and argues that some OPEC members are battling for market share.

ACA approval hits record low as those with HIX plans satisfied with coverage (Brian M. Kalish, Employee Benefit Advisor) Americans’ approval of the Affordable Care Act is at a record low yet those uninsured who purchased coverage through the exchange are overall pleased with the quality of coverage they obtained. Gallup Poll says that 37% of Americans approve of Obamacare while 56% disapprove. A separate Gallup poll of those who newly obtained insurance through ACA found 75% are satisfied (rated either excellent or good) with coverage and cost. Is this situation a case of the ignorant being informed only by political propaganda? Or do a significant number of those dissatisfied but not participating really understand what is going on? Perhaps the polling should ask more questions. We will have more on this as we find additional information. See next article.

‘Solid’ Obamacare start: More than 1M apply in first week (Dan Mangan, CNBC) More than 1 million submitted applications for eligibility during the first week of the new open enrollment period which started 15 November and more than 45% of those have already selected ACA (Affordable Care Act) health insurance plans on HealthCare.gov. A little less than half of the plans selected (for 221,820 people) were for first-time HealthCare.gov insurance buyers. The report does not identify how many of the 240,305 returning customers were renewing 2014 coverage and how many were changing plans. The numbers do not include activity on exchanges operated by 13 states plus the District of Columbia. The number of insurance plans selected in the first week this year was more than four times the number selected in the first month in 2014 when HealthCare.gov was plagued by operational problems.