Good day all If this is Friday, it’s time for more bad news from Obamaland. In news that will only surprise the Kool-Ade drinkers that think Obamacare is the best thing ever, insurance companies are seriously looking at pulling out of the exchanges.
When Obama and the Democrats rammed this load of crap down our throats, they lied about how it would save everyone money. They were counting on the mandate that in order to be a citizen, you had to by overpriced, worthless health insurance. There’s just one problem. Thanks to all the mandated coverage, the costs are going through the roof and insurance companies are losing money hand over fist. Here are the details from The Hill:
Health insurance companies are amplifying their warnings about the financial sustainability of the ObamaCare marketplaces as they seek approval for premium increases next year. Insurers say they are losing money on their ObamaCare plans at a rapid rate, and some have begun to talk about dropping out of the marketplaces altogether.
“Something has to give,” said Larry Levitt, an expert on the health law at the Kaiser Family Foundation. “Either insurers will drop out or insurers will raise premiums.”
Oh wonderful. Another rate increase. My insurance has doubled in cost since Obamacrap kicked in. If it goes any higher, especially since I don’t have a job, I’m going to have to give it up. It will be a choice between eating and having a roof over my head or paying for mandated coverages I don’t need or want.
While analysts expect the market to stabilize once premiums rise and more young, healthy people sign up, some observers have not ruled out the possibility of a collapse of the market, known in insurance parlance as a “death spiral.”
On what planet or they expecting those young and healthy people to sign up? They haven’t yet because the costs are to high now. Currently, It’s cheaper to pay the fines. Oh, and those fines? They can only be collected if you have a refund due from the IRS. If you owe money, then they can’t touch you.
In the short term, there is a growing likelihood that insurers will push for substantial premium increases, creating a political problem for Democrats in an election year.
I’ve said this before of course. Everyone who had any clue at all, which removes the Moonbats, Democrats, Progressives and Liberals, (But I’m repeating myself), from the list knew that Obamacare was unsustainable. Now Obamacare is starting to head into it’s final death spiral. The article in The Hill has quotes from a number of health insurers, and they all say the same thing. They need far higher premiums, or they’re going to pull out of the Obamacare system. Still, there is denial of the problems from the Obama Regime.
Dr. Mandy Cohen, the chief operating officer of the Centers for Medicare and Medicaid Services (CMS), said in an interview that there is “absolutely not” a risk of a death spiral or collapse in the ObamaCare marketplaces. While acknowledging that “companies are needing to adjust” to the new system, she pointed to the 12.7 million people who signed up this year, 5 million of whom were new customers, as a sign of success.
I’ve heard there is some question about those sign ups. Such as they went into the Obamacare site, went through the process but never paid the premiums. In many cases, people who “Are new” are people who had insurance through their employers, but lost their jobs and now are scrambling. Now, insurers are flat out saying that they either get more money, or they’re pulling out. The bureaucrats running this fiasco are outright denying the possibility that any insurers will quit the program.
Cohen of the CMS said that her agency is in close touch with insurers and Blue Cross Blue Shield of North Carolina in particular. But she pushed back on talk of Blue Cross of North Carolina dropping out of the marketplace, stating flatly, “I have no concerns about them leaving the market.”
She goes on to make excuses, such as Blue Cross having computer issues and enrolling people in the wrong plans. The problem with her statement is that erroneous enrollments have been occurring since day one of the Obamacare disaster. The reality is, the system was doomed to collapse the day it was implemented.
The election this year is more important than usual with regards to Obamacare. Both Trump and Cruz will move to close the whole mess down and replace it with something that will actually work for a lot less money. There are a number of plans floating around that would solve a great deal of the problems, such as letting insurance companies sell across state lines and ending all the mandated coverages. Those two items alone would cause rates to drop.
On the other hand, we have Hillary “Cankles” Clinton and Comrade Bernie Sanders. Cankles will do nothing to close down Obamacare. She thinks it’s just fine the way it is. If anything, she’s going to add in more items from her failed “Hillarycare” fiasco from the 90’s.
Comrade Bernie will shut down Obamacare, but not to institute a free market replacement. He wants to put in place a single payer, socialist system that has failed every place it’s been tried. If you want to see what a single payer system will look like, just take a look at Veterans Administration hospitals.
That scandal is still ongoing and has killed hundreds of former military personnel who had to rely on it. Oh! By the way, did you know that when the Democrats controlled the Senate, Bernie Sanders was in charge of the oversight committee for the VA? He knew about the problems but did nothing.
So, Obamacare is in the early phases of a death spiral. The Obama Regime and the Obamacare supporters are at the first of the “Five Stages of Grief,” Denial. We’re also beginning to see the second stage, Anger. We’re a long way from Acceptance that Obamacare is dead, and was in fact stillborn. What The Hill has reported is just another in a long line of stories on the disaster known as “Obamacare.”
Thatisall
~The Angry Webmaster~
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