Tag: regulation

Finding out what’s in it: The Obama administration today admitted that Obamacare premiums will skyrocket next year as the number of insurance companies available to consumers continues to decrease.

Before taxpayer-provided subsidies, premiums for a midlevel benchmark plan will increase an average of 25 percent across the 39 states served by the federally run online market, according to a report from the Department of Health and Human Services. Some states will see much bigger jumps, others less. Moreover, about 1 in 5 consumers will only have plans from a single insurer to pick from, after major national carriers such as UnitedHealth Group, Humana and Aetna scaled back their roles. “Consumers will be faced this year with not only big premium increases but also with a declining number of insurers participating, and that will lead to a tumultuous open enrollment period,” said Larry Levitt, who tracks the health care law for the nonpartisan Kaiser Family Foundation.

The Democrats wrote this monstrous stupid law. They forced it through Congress without a single Republican vote. Everything that has gone wrong since was predicted then, in 2010, by conservatives. Yet today, the public is still voting for these same Democrats.

We truly are facing the coming of a new dark age.

In related news, all the major hospitals in Chicago, home base for Obama and a Democratic Party stronghold for more than a century, have pulled out of Obamacare.

Finding out what’s in it: More than a million people are losing their health insurance plans this year as insurers increasingly flee Obamacare.

The number above was determined by

At least 1.4 million people in 32 states will lose the Obamacare plan they have now, according to state officials contacted by Bloomberg. That’s largely caused by Aetna Inc., UnitedHealth Group Inc. and some state or regional insurers quitting the law’s markets for individual coverage.

…Nationwide estimates of the number of people losing their current plans are higher. For example, Charles Gaba, who tracks the law at ACASignups.net, estimates that 2 million to 2.5 million people in the U.S. will lose their current plans, compared with 2 million a year ago. Gaba’s estimate is based on insurance company membership data.

For the people losing plans, there are fewer and fewer choices. One estimate by the Kaiser Family Foundation predicts that for at least 19 percent of the people in Obamacare’s individual market next year there will be only one insurer to choose from.

Obviously, the solution is to ask the people that wrote this bad law to fix it. We should all vote Democratic on election day, and help make this disaster even worse!

Finding out what’s in it: Realizing that the next open enrollment period under Obamacare will begin only a week before the election and will present voters with skyrocketing insurance premiums, higher deductables, and fewer choices, Obama met with health insurance execs on Monday to plead for their support.

The two largest insurance carriers, Aetna and UnitedHealth, did not attend, Both have already abandoned most of the Obamacare marketplaces.

The article has a lot of blather about the public relations steps the Obama administration is taking to shore up Obamacare, along with encouraging quotes from some insurance executives. This quote from the article, however, touches on reality, a reality that it appears Obama might finally be discovering. Or to paraphrase Nancy Pelosi’s words, he is finally finding out what’s in it.

But six years after passage of Obama’s signature domestic achievement, the litany of woes afflicting the Obamacare marketplaces is formidable. Enrollment has plateaued at half of what was projected. Three major insurers have largely quit, citing big losses. Double-digit rate hikes are the norm for plans across the country. And roughly one in five Americans may find just one insurer selling plans in their area when they shop for 2017 coverage.

Finding out what’s in it: A new GAO investigation has found that, like its previous reports in 2014 and 2015, it is remarkably easy for fictitious applicants to get approved for both Obamacare and the large subsidizes that go with it.

Our undercover testing for the 2016 coverage year found that the eligibility determination and enrollment processes of the federal and state marketplaces we reviewed remain vulnerable to fraud, as we previously reported for the 2014 and 2015 coverage years. For each of our 15 fictitious applications, the marketplaces approved coverage, including for 6 fictitious applicants who had previously obtained subsidized coverage but did not file the required federal income-tax returns. Although IRS provides information to marketplaces on whether health-care applicants have filed required returns, the federal Marketplace and our selected state marketplace allowed applicants to instead attest that they had filed returns, saying the IRS information was not sufficiently current. The marketplaces we reviewed also relaxed documentation standards or extended deadlines for filing required documentation. After initial approval, all but one of our fictitious enrollees maintained subsidized coverage, even though we sent fictitious documents, or no documents, to resolve application inconsistencies. [emphasis in original]

This report is actually less a condemnation of Obamacare and more a condemnation of the completely incompetent and failed state of the entire federal bureaucracy. They can’t get this job right, but in truth, they pretty much can’t get any job right.

Obviously, we should therefore do what the Democrats propose and give the federal government and its bureaucracy more power and responsibility. That will surely fix things!

Finding out what’s in it: New Jersey’s Obamacare co-op has been taken over by the state and will fold in 2017.

As noted at the link, “that leaves just six of the original 23 Obamacare co-ops in operation next year.”

In other words, Obamacare is steadily going bankrupt, and in the process it is bankrupting the health insurance business. Before the law, it was possible for individuals to buy at a somewhat reasonable price a catastrophic insurance plan that would cover you in case of disaster but required you to pay for most of your routine health care costs. Obamacare outlawed those plans (obviously, someone was lying when he said you could keep your plan if you liked it). The result however is that everyone is forced to buy at very unreasonable prices the equivalent of those same plans, since both premiums and deductibles have risen so much that everyone now has to pay for routine health care costs.

Obviously, this means we should all vote for Hillary Clinton and the Democrats, because they more than anyone else know how to solve the problem they created. Obviously, voting for the Republicans, who predicted this disaster in great detail and with remarkable accuracy, would be a mistake, a clear demonstration of racism or something. And we wouldn’t want to be called racist by Democrats, would we?

Finding out what’s in it: A new poll shows that the number of people directly hurt by Obamacare has continued to rise.

Currently, 29% of Americans say Obamacare has hurt them and their family, up from 26% in May, and the highest Gallup has measured to date. Meanwhile, the percentage who say the ACA has helped their family dropped from 22% to 18%. The bulk of Americans, 51%, continue to say the law has “had no effect.” As more provisions of the law have taken effect over the years, the “no effect” percentage has dropped from the first reading of 70%, in early 2012.

Not surprisingly, support for Obamacare, always low, has shrunk as well. As the article at the link notes,

Wait until the next round of open enrollment starts in eight weeks. The number of people who feel the ObamaCare pain is likely to rise even further, especially in places like Tennessee, Minnesota, and other states where premiums will go up 40% or more over 2016.

The fact that in many regions there will be only one or fewer insurance options will help to underline why people increasingly hate Obamacare. Sadly, every one of these failures was predicted by conservatives back in 2010. The Democrats however were too wise and caring to listen. For them, caring is all that matters, even if it means instituting policies that destroy people’s lives.

Finding out what’s in it: Faced with closure of all of its Obamacare health insurance options, officials in Tennessee have been forced to approve rate increases ranging from 44 to 62 percent.

The rate approvals, while a tough decision, were necessary to ensure that consumers around the state had options when open enrollment begins in November, said Julie Mix McPeak, commissioner of the Tennessee Department of Commerce and Insurance. BlueCross BlueShield of Tennessee is the only insurer to sell statewide and there was the possibility that Cigna and Humana would reduce their footprints or leave the market altogether.

“I would characterize the exchange market in Tennessee as very near collapse … and that all of our efforts are really focused on making sure we have as many writers in the areas as possible, knowing that might be one. I’m doing everything I can to prevent a situation where that turns to zero,” McPeak said to The Tennessean. [emphasis mine]

Anyone with any brains (such as the conservatives who predicted in 2010 that this would happen) can see that with these ungodly increases, it is very unlikely that those same insurance options will survive through next year. Be prepared for the complete collapse of the health insurance industry.