The official at the Massachusetts Division of Insurance in charge of monitoring insurer-solvency sent an internal e-mail warning that the state’s government-imposed insurance rate price controls “have no actuarial support” and could lead to “a train wreck.”
“Consider the case of nHealth, a relatively new insurance provider based in Richmond, Va. nHealth recently announced it will close its doors due to the combination of stringent new regulations and future uncertainty—both the product of the new health care law.”
As a so-called improvement to the insurance market, ObamaCare outlaws many inexpensive, more affordable types of insurance to force people into Washington-approved, comprehensive plans that are more expensive which “could strip more than 1 million people of their insurance coverage, violating a key goal of President Barack Obama’s reforms.”
“Is the Pill preventive, in the sense meant when preventive medicine got debated during ObamaCare? Not at all. Democrats specifically called out early diagnosis of diseases such as diabetes….That never included an explicit argument that lowering the birth rate would be an overall cost-saver, or that it was a legitimate government interest to suppress the birth rate. “
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.
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.
The Obama administration Monday unveiled a tax cut for small companies that provide health insurance, but business groups gave it a mixed review: Many small businesses won’t qualify for the tax credit, they say.
A new study by a former head of the Congressional Budget Office says that ObamaCare would make dropping employees’ insurance the sensible choice for the employers of up to 35 million workers — with the workers’ concurrence. These workers would flood into the government-run exchanges, which would then cost about $1 trillion more than projected over the next decade — essentially doubling ObamaCare’s published price and leading to massive new debt. Once in the exchanges, workers would find that their upward economic mobility would be strongly limited by the exchanges’ extremely high effective marginal tax-rates.
We’re about to enter a new age of chronic under-reimbursed care.