The slow walk of Obamacare to its coffin has been one of the most remarkable political disasters of my adult life (but, sadly, also a medical disaster for the vast majority of Americans). Obamacare did not become law until March 23, 2010. Further, the first open enrollment was November 2013. Therefore, no one had an Obamacare policy until 2014. It is only 2016 and Obamacare is on life support. Life support almost certainly will not resuscitate “the patient.” The only way this law does not die is if we elect Hillary Clinton!
It is time for Americans to remember that Obamacare was passed without a single Republican vote. The Republican Party outlined the failings of the bill and every prediction was correct. Worse still, the White House and the Democrat “leadership” in the House and Senate coerced and bribed any Democrat holdout – footnote. (I put the term leadership in quotes because Pelosi and Reid are morons – excuse my French). And let us not forget the twin disasters of the “the rollout” of Obama’s signature legislation and “the promise” that a family of four will will save $2500 per year on health care costs.
I have chronicled the dissolution of Obamacare in post after post:
I could go on, but you get the picture. You may think capitalism is less than perfect. I would agree. But, it works! Anticapitalist legislation DOES NOT WORK. Obamacare is a classic example.
The death knell was sounded this week when Aetna — one of the largest health insurers in the country — announced Monday that it will significantly scale back its presence on the Obamacare marketplaces next year (they follow United Healthcare and Humana – between these three you have the bulk of America’s health insurance policies). Aetna CEO cited a loss of $200 million in the second quarter alone. And 16 of the 23 non-profit, state-chartered co-ops created by Obamacare to sell affordable insurance plans have gone bankrupt. As I said, anticapitalist legislation DOES NOT WORK.
To which anticapitalist policy do you refer, ask you? That insurers are required to insure the very sick at lower than market rates, answer I. The mix of Obamacare enrollees has been smaller and sicker than expected.
The death spiral is well into its inevitable denouement. Let’s analyze the Obama administration plan. The massive financial losses (thus far a mere $2.7 billion) that are driving insurers away can be cured by “sharp rises” in coverage rates. However, that will further drive away younger, healthier consumers who are already rejecting the law due to its lack of affordability. Sounds like a standard progressive/statist/altruist plan to me. “It would have worked” if we had only SPENT MORE MONEY ON THE PLAN! Otherwise is WAS PERFECT!
The ObamaCare bill that was crammed full of billions of dollar of bribes. As well, Senators were coerced. Do you remember:
* The Cornhusker Kickback?
* $300,000,000 in bribes to Louisiana’s Senator Mary Landrieu?
* A new hospital in Connecticut for morally challenged Senator Chris Dodd?
* Roughly ten billion in community health centers to buy off Vermont’s Bernie Sanders?
* An exemption of Bill Nelson’s Florida constituents from the Medicare Advantage cuts applicable to everyone else?
* A threat to take away Connecticut Senator Joe Lieberman’s committee chairmanship unless he falls into line?
Then Speaker Nancy Pelosi crammed the bill down the throats of conservative House Democrats, who were required to pass a bill filled with bribes and corruption — WITHOUT A SINGLE CHANGE.