The ongoing saga that is Obamacare continues. Hey, perhaps the USVI Attorney General Claude Walker should bring legal action, a subpoena, against any liberal progressive left wing policy and advocacy groups that supported this failed progressive socialist religion — socialized healthcare.
As reported by the Wall Street Journal:
Insurers have begun to propose big premium increases for coverage next year under the 2010 health law, as some struggle to make money in a market where their costs have soared.
The companies also have detailed the challenges in their Affordable Care Act business in a round of earnings releases, the most recent of which came on Wednesday when Humana Inc. said it made a slim profit on individual plans in the first quarter, not including some administrative costs, but still expects a loss for the full year. The Louisville, Ky.-based insurer created a special reserve fund at the end of last year to account for some expected losses on its individual plans in 2016.
However, there was one health insurance provider that saw gains.
Indeed, some companies, including Medicaid-focused insurers such as Centene Corp., have already said plans sold through the health law’s exchanges are profitable. Still, the analysts said, a number of insurers are likely to seek significant hikes as they aim to cover costs that have continued to outstrip their estimates—in some cases coming after earlier premium increases.
Yep, good ol’ Nancy Pelosi, “we have to pass the bill in order to find out what is in it” — that is what I call a chucklehead.
In the end, Obamacare is little more than an expansion of Medicaid. And if we’re seeking economic growth, we should be reducing the rolls of Medicaid, not expanding them. I have no issue with parents keeping their kids on the healthcare plans until 26 — leave it to liberal progressives to redefine the age of a “child.” I do agree we want folks with pre-existing conditions to be covered, but would have recommended using high-risk pools instead.
So, when we assess the 2,700 pages of Obamacare, we must realize that a few pages may be good policy but mainly 2,680 pages are just worthless government expansion. And the American private sector insurance companies are realizing they got punked — which means we the people get screwed. Unless these companies want to go under, and I mean face massive losses leading to bankruptcy, they must now pass on the new costs incurred to us, the law-abiding healthy American.
The health insurance companies signed up for Obamacare because they were promised, by way of the risk corridors, a taxpayer-funded bailout. Well, that dog don’t hunt fellas, and now they’re finding themselves in a quandary. And let me remind you, next year in 2017 there are some 159 new government agencies and bureaucracies that kick in because of Obamacare.
Now, let me be very clear, y’all may think Obama is a massive failure — well, anyone with a reasonable brain would — but for a progressive socialist this is just heaven for them. Barack Obama will go down as the left’s Ronald Reagan except for one thing, in the long run Obama’s legacy will be one of abject failure. He will not be an iconic American figure, but rather a symbol of weakness, and eventually disdain. Obama will replace Carter as America’s worst president, someone who entered the White House with promise…but will truly depart in shame.