It is an appropriate pun. Obamacare is singing the blues and the “Blues” are the reason. The Blues with the capital “B” refer to Blue Cross and Blue Shield.
[Source: Obamacare Death Spiral: Even Blue Cross Plans Are Bailing Out, by the Investor’s Business Daily Editorial Board]
Two Blue Cross plans rocked the Obama administration when they announced last week that they were pulling out of Obamacare markets. “Blue Cross was once thought to be Obamacare’s firewall. If for-profit insurers decided to drop out of the exchanges, at least these venerable nonprofits would remain to provide coverage.“
But alas, no. I have stated many times that I am a laissez-faire capitalist. Above is reason. No amount of “good intentions” can overcome the reality of losing money year over year. My boss used to say, “If you can make a pair of shoes for $7 and sell a million pairs for $6, you’ll be broke.” It appears the people at Blue Cross/Blue Shield are aware of this lesson.
Despite getting approval on an eye-popping rate hike of nearly 60% for 2017, Blue Cross Blue Shield of Tennessee announced that it was quitting… the largest Obamacare markets.
If you read my earlier post from today lamenting Mr. Trump’s statement on women, you are aware that we now have a choice been “dumb and dumber.” “Dumber” wants to prop up Obamacare and spend even more taxpayer money (or worse, double down on the “public option”). “Dumb” want to trash Obamacare and help people with tried and true capitalist means of opening a market. Do I really need to tell you who “dumb and dumber” are?
And thanks to HP for sending this to me.