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Repeal it: Five insurers have announced they are canceling their healthcare coverage in Indiana due to Obamacare regulations. The reason?
Aetna was leaving the Indiana individual market over a rule in the federal health care overhaul that insurers essentially must dedicate 80 percent of the premiums they collect to medical care. Anything less than 80 percent would be paid as rebates to policyholders the following year.
In other words, Obamacare tries to legislate the percentage of overhead a company spends, something that in the real world is simply impractical. Under this kind of regulation, every private company will eventually go out of business, leaving us stuck with a nationalized healthcare system run by our government.
And we all can see how efficiently the government runs things, right? Imagine a visit to the doctors’ office being like going to the motor vehicle administration.