Apparently deep within the bowels of Obamacare is a provision which says that if an insurer who participates in the Obamacare exchanges loses over 3% more than they thought they would they can recoup 50% of that loss from the taxpayer. If the companies lose 8% they can recoup 80% of that loss.
As I read this article my brow just became more furrowed. So now bribes are cool according to Kathleen Sebelius?
No–the government seems determined to stop it.
Basically if one had an individual plan one was likely going to lose one’s coverage. If one was lucky enough to have a large group plan through a company then one was likely to see things remain the same. (Don’t want to upset the employees of corporate donors.)
It’s the small business owners, artists, consultants, etc. who get hammered, which is typical in a crony capitalist system.
Now everybody has to buy their product. One way or another. If someone doesn’t they are fined by the IRS. That is a pretty sweet deal for the insurance companies.
But we are told how Obamacare is a “progressive reform.” How finally everyone can get healthcare. How the President “stood up” to the insurance companies and pharmaceutical companies.
Nonsense. Barrack Obama is the largest enabler of the big 5 health insurance companies there has ever been, by a long shot.
And why does this tax even exist? Revenue?
No, it’s because when Obamacare was being put together by the White House, Congress, the drug companies, and the insurance companies, the medical device industry refused to go along. As such they were punished.
No one seems very eager to get wrapped up in the launch of Obama’s grand experiment in social engineering, but it looks like the administration has finally gotten the SEIU on board. This is the same organization whose former head Andy Stern has praised Chinese “state capitalism” publicly (read – crony capitalism) so it figures.
It is interesting to me how wedded some people are to the idea that Obamacare is not a crony capitalist disaster. I understand why. It is the president’s signature piece of legislation. It has long been the dream of many in this country to implement nationalized healthcare. To acknowledge that what at first appeared to be an important political victory is likely anything but, is a hard pill to swallow.
If Obamacare fails it also means that Obama fails historically, and that is also very difficult.
As we have said before the American people at the very least should insist on the removal of the IRS from Obamacare. That of course means a complete revamp (repeal?) of the program and very powerful interests ranging from the current administration to the insurance and pharmaceutical industries like Obamacare just the way it is. They after all wrote it.
Obamacare looks increasingly like a disaster. It could be Obama’s Iraq War. (Sadly it’s even more expensive.) Senator Baucus, a Democrat, recently said he saw an Obamacare “train wreck coming down.”
Then he announced his retirement.