Either Donald or Hillary will face many challenges come January. (One wonders why any sane person would want such a job.) Among them is the rapid deterioration of ObamaCare. The program is in very real danger of failing at least one of its primary goals, insurance company profits.
The Obama administration has struggled for several years to bring young, healthy people into the marketplaces, which is needed to offset the medical costs of older and sicker customers.
These problems are coming to light this year, as insurers get their first full look at ObamaCare customer data. Some, like UnitedHealth Group, say they’ve seen enough and are already vowing to leave the exchanges.
Levitt and other experts warn that if the numbers don’t improve this year, more insurers could bolt. That would deal a major blow to marketplace competition while also driving up rates and keeping even more people out of the exchanges.
The answer is going to be higher (much higher) health insurance premiums for all who currently pay. Rates in some states are set to rise another 40-60% immediately and on top of other recent increases. How’s that for “affordable”? A few of the con-men say this will be a mere one-time offset. Aside from previous increases and those sure to follow, it will be.
ObamaCare was legally justified by the Nine of Minas Morgul as just another tax. I wrote about that in my first substantive column here, over four years ago. Taxes don’t just steal money of their own accord. They also bring higher regulatory costs, inflation, and higher prices to boot. Thus, their destructive nature. Insurance companies were designed for one thing – to make money for themselves. They will keep doing so at your expense. If you like your money, you will lose your money.
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