Thursday, March 4, 2010
ObamaCare Is A Boon To Insurance Companies
Why aren't healthcare insurers against Obamacare?
Simple... Obamacare is going to give them a lot more business, (100% participation in fact!) and allow them to take money from people who currently don't want to buy insurance; you know young people and people who are in good health and feel they don't need health insurance.
The insurance companies love the idea that if people don’t want to buy their product in a free society, then you can just get legislation passed that forces them to buy it! The Congressional Budget Office said that in the first dozen years, Obamacare would funnel $1.0 trillion from American taxpayers, through the federal government, to insurers. Obamacare would also make it illegal for Americans not to buy the insurers' product. Hey... isn't America great? Gotta love the Obama administration for pushing this thing along for the insurance companies! (Even though it's unconstitutional legislation)
Imagine the money the insurers will save on marketing! Washington will decide for Americans what they should have. All those new boards and agencies will be all set to tell you exactly what coverage you should have, and you can bet it's not going to include any kind of low cost alternative therapies.
When all the people who don't buy insurance - because they don't want or need to - are forced to buy insurance, they will be the ones who will be paying the freight for all the really sick people, like those who have smoked all their life and ruined their lungs, etc. That way the insurance companies get to keep more of their money, while they spend everyone else's to pay for Joe Schmo's lung transplant (or liver transplant if he was a drinker).
Everyone will be in the assigned risk pool now.
The insurance companies will be making a livid fortune on this.
The insurance companies are literally licking their chops on all of the mandated new customers. But honestly, these insurance companies need more money to pay their executives multi million dollar salaries and bonuses.... so pony up all you healthy 20 somethings.
This legislation is nothing more than another Obama administration payoff.
Anyone thinking that this is going to bring down the cost of healthcare is not dealing with reality.
This will do to the country what it has done to Massachusetts. Massachusetts’s individual mandate has driven costs up at twice the average national rate! It's created more bureaucracy, and when the subsidies run out then people will not be able to afford their mandated insurance.
Mandatory health insurance fails in theory and in practice.
Our only hope if this moronic Obamacare legislation gets rammed through Congress, via a nuclear option, is for states to follow suit with states like South Carolina who passed an anti-Obamacare resolution in January.
Meanwhile, many many states and their Attorney Generals are already lining up and looking to file suit and call this Obamacare bill unconstitutional, which it is. This will no doubt keep lawyers employed for months, maybe years.
Obama has set his sights on getting this monstrosity passed by Easter. Here is the timeline.
Pretty despicable... and so what do YOU intend to do about it?