USA Today found that “Many of next year’s premium rate increases on the Affordable Care Act exchanges threaten to surpass the high and wildly fluctuating rates that characterized the individual insurance market before the health law took effect.”
Politico reports that “Obamacare has turned into a financial sinkhole.
“UnitedHealth Group, the nation’s largest insurance company, is pulling out of the Obamacare business in North Carolina next year,” they found. “Blue Cross Blue Shield of North Carolina, which dominated the individual market with more than a half-million customers, reported that losses on its Obamacare business in 2014 and 2015 topped $400 million. The insurer said that figure includes government payments designed to shield insurers from big losses during the early years of Obamacare.”
The simple formula of the Unaffordable Care Act sugars out thusly:
1. Build network around a large dominant group.
2. Force everyone into the system.
3. Ration care.
4. Raise prices.
Sounds a lot like cable television, doesn’t it?
Here’s another surprise. Hillary Clinton says she will “defend the Unaffordable Care Act, build on its successes, and go even further to reduce costs.”
Anybody want to tell her that jacking your premium by hundreds of dollars per month ain’t reducing costs? I don’t think she’ll listen to me.