Washington Examiner reporter Byron York told Fox News on Thursday health insurance company bailouts “absolutely will happen” under Obamacare, claiming a government lifeline is actually “built into the law.”
Wow! Just when you thought it couldn’t get any better!
York explains, as reported by the Daily Caller:
There’s something called “risk corridors,” which basically ensure that if an insurance company ends up paying a lot more in benefits than it takes in in premiums, then the federal government will bail it out — it will make it good. And it looks like we are entering a situation — certainly in the first month of January — where the insurance companies will be in that situation. And they’re not going to take the losses. It will be the taxpayer who makes up for those losses.
The fundamental premise of Obamacare is wealth redistribution from healthier, hard working American families to elderly, sicker, low-income recipients. This flood of individuals into the healthcare marketplace results in a problem for insurance companies that can only be solved by higher premiums and deductibles for those who are basically subsidizing the other folks.
Real “sticker shock” is beginning to hit and Americans are realizing the Affordable Care Act is an oxymoronic title, emanating from morons. People just aren’t falling for the idea of paying more for less – especially younger Americans, despite all the fabulous infomercial-type promises they’re received. It’s a sham. Wow.
Then add in all the uncertainty that President Obama has interjected because of “you can keep you plan, no you can’t keep your plan, well, it’s ok for you to get your plan back, we need to extend the deadline for you to keep you plan, if you can’t get your plan you are exempt from the individual mandate tax which I said was not a tax but I agree with Chief Justice Roberts and the Supreme Court that Obamacare is constitutional because it is a tax” – heck, I was confused just writing that.
York explains it this way:
It’s a very confusing situation, and I think what is unavoidable is that after the first of the year, people that require expensive health care treatment are going to find out then that they may not be covered as they thought.” The issue that no one really knows is if individuals have actually been signed up for Obamacare through healthcare.gov and whether or not payment has been processed. If the payment issue becomes of consequence, then a trigger will potentially have to kick in, that could mean a bailout for insurance companies.
You see, in the world of progressive socialism, academics theory always sounds so lovely. It’s in the practical application and implementation of their schemes where it all falls apart.
History teaches us this, as we’ve never seen socialism successful anywhere in the world — yet we fell for it here in America, thanks to the “ShamWow President.” The one difference is that ShamWow actually works.