And the drug companies would lose money too as the author of the attached article points out.
We’ve been saying this for 2 years. Now even the people who worked for Obama are admitting that Obamacare is a crony capitalist jack.
The American people, nearly all the American people, don’t want to bail out the health insurers because of Obamacare. They also disapprove of the individual mandate which flies in the face of 200 years of American law.
The Federal Reserve today announced that it is bringing in a former state insurance commissioner, Thomas R. Sullivan, to strengthen and head its insurance regulatory office. This is a good idea. Most insurance regulation is at the state level, but the Fed has a huge impact on insurance, especially through its interest rate setting.
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. The health insurance companies are now basically government contractors. Contracting work can pay well.
Remember the whole “no new taxes on those who make under $250,000/year” pledge from Mr. Obama? I think many people do.
But despite appearances, they aren’t not throwing fellow crony conspirators (aka health insurance companies) under the bus.
As millions of people began to lose their old medical insurance policies, President Obama and other Obamacare supporters replied that the new exchange policies were better. This was another lie.
I thought Obamacare was “the law.” You know, passed by Congress, the whole bit. But it appears that now the president can just single handedly say that one part of “the law” can be changed?