ObamaCare’s Predictable Collapse
23rd November 2015
Apparently the most commonly-used phrase in Administration commentary about Obamacare is ‘unexpectedly’. This article explains why it wasn’t unexpected at all … if you were paying attention.
ObamaCare co-ops were supposed to provide lower cost health insurance alternatives because they weren’t driven by the profit motive. Now, just a couple of years after the Affordable Care Act (ACA) was implemented, 12 out of 23 co-ops have failed, costing taxpayers $1.2 billion in defaulted loan repayments. The failure rate even outstrips the Labor Department’s 2011 projections of 36 percent, and as The Carpenters used to sing, “We’ve Only Just Begun.”
The impact on 100,000 New York state users of the failed Health Republic Insurance of New York co-op means they will have to find new health insurance. The New York Post writes, “Add 250 New York cancer patients to the long list of victims of ObamaCare’s lies — just one more snapshot of the program’s ongoing death spiral.”
The reason cancer patients are now scrambling for healthcare? The collapsed co-op was the only insurance provider that covered treatment at the world-renowned Memorial Sloan-Kettering Cancer Center, and now with the co-op gone, cancer patients need to find new insurance, new doctors, new treatment centers all at the most vulnerable time in their lives. The naive idea that the co-op could offer premium coverage at non-premium pricing and survive has left patients stranded and taxpayers stuck with the price tag.
But failing co-ops are only a small part of the problem for the ObamaCare house of cards. The largest health insurer in the country, UnitedHealthcare, just announced that they are unlikely to participate in the ObamaCare health exchanges in 2017 and are limiting their marketing for customers through exchanges in 2016.
November 23rd, 2015 at 20:14
In the immortal words of Heinlein: “There ain’t no such thing as a free lunch!”