Here comes the death spiral: Obamacare’s Prognosis Grows Dimmer

It was already pretty dim for anyone who understands how insurance works. I used to be an insurance underwriter (property and casualty, not health) and I’ve been wondering since the beginning how anyone thought Obamacare was going to work. The risk size versus the pool of insureds doesn’t make sense. If insurance companies can’t adjust for risk (which for the most part they can’t under Obamacare) what bizarro mathematics is going to save this ill-conceived juggernaut of bureaucratic bull?

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White House to Health Insurers: Don’t raise rates ahead of elections, we’ll get taxpayers to pay the difference

Healthcare rates are going up for many people in 2015, and the White House is afraid that people will be unhappy about this. So unhappy that Democrats might be punished at the polls. But if health insurers keep their rates artificially low through the elections new rules unveiled recently by the administration will make sure the giant insurance companies won’t lose any money.

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The Health Insurer Bailout is Headed Your Way

All the big health care insurance stocks are up big over the last year. (And continue to be.) What does that tell you? Source: Yahoo Finance

There are a few winners in Obamacare. Very few, but they do exist. If one has an extreme medical condition it is easier to get insurance now. (Sort of.) The health insurers, in partnership with the federal government are also winners.  (At least in the short to medium term.) They now have access to a pool of taxpayer subsidized potential policy holders who were not part of the market before.

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Here comes the health insurer bailout (to be paid for by you and me of course).

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.

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Obama admin repeatedly modified (Obamacare) ‘grandfathering’ rules to benefit big business, not individuals

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.

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Biggest winners in Obamacare? The health insurance companies. Very “progressive.”

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,

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Harry Reid Calls Obamacare Medical Device Tax ‘Stupid’ – He’s actually right on this one. (Video)

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.

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SEIU pushes Obamacare, Laborers International Union may push for repeal

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.

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How much is Obamacare REALLY going to raise your premiums? (in most states, quite a lot) Part 2: The raw study by the Society of Actuaries

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,

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A Toxic Combination: Obamacare Meets the IRS

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.

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