Disproving ObamaCare’s promise that “if you like your plan, you can keep your plan,” a health insurance company offering high-deductible policies to be coupled with health savings accounts is closing after only two years of operation because they will be unable to meet the new burdens of ObamaCare, leaving consumers with less choice and less competition.
After a series of projections by independent experts and revelations by businesses, Americans are becoming increasingly aware that ObamaCare is anything but a cost-cutter.
As the true costs of ObamaCare keep coming to light, Americans’ desire for repeal — merged with their concerns over jobs, spending, and deficits — will likely produce a “wave” election.
The Federal government was given broad discretion to implement regulations limiting the profits of insurance companies by regulating their “medical loss ratio,” but a board of state insurance regulators missed a key deadline to provide guidance to HHS which could delay implementation and cause uncertainty for insurers and businesses.
“The President repeatedly promised that if you liked your health plan, you would be able to keep it. Nothing would change. Fat chance.”
The administration’s inability to meet several ObamaCare deadlines, including a deadline for simply publishing a list of its own new authorities under the overhaul, does not inspire confidence in its capacity to manage a sixth of the economy.
The Senate health care bill (which, along with the Reconciliation Act, became law) would overhaul the entire health-care sector of the U.S. economy by erecting massive federal controls over private health insurance; dictating the content of insurance benefit-packages and the usage of medical treatments, procedures, and devices; altering the relationship between the federal government and the states; transferring massive regulatory power to the federal government; and restricting Americans’ personal and economic freedom by imposing unprecedented mandates on businesses and individuals, including an individual mandate to buy insurance.
House passage of the Senate version of ObamaCare means higher health costs, higher deficits, higher taxes, higher premiums, incentives for employers to drop employees’ insurance, incentives for employers to avoid hiring low-income workers, financial penalties for entering into marriage, further expansion of Medicaid and the launching of a new entitlement program, and the ushering in of a culture of statism and dependency in lieu of limited government and liberty.