The 2017 premiums for that Pathetically Puerile Abominable Collection of Asininity
“wonderful” law called the Patient Protection and Affordable Care Act – AKA “ObamaCare” – have been released.
The numbers for next year? Well, as they might have said where I was raised: “Them numbers ain’t lookin’ so good.”
Nationwide, for the 39 states using the Federal healthcare exchange the average premium increase is about 25%. But if your premium “only” goes up 25% next year when you purchase healthcare through the Federal insurance exchange – count your blessings. In many states premiums increase by far more than that.
In 10 states, a “Silver” plan (2nd lowest before tax credit) purchased through an insurance exchange has a premium increase of 40% or more. And in Arizona, that Silver plan rate increase puts the emphasis on “more” – as in, next year it will cost a whopping 145% more.
Hey, they’ve got the proverbial “captive audience” – coverage is legally mandatory, remember? So yeah, they can do that and get away with it.
Choices are much more limited next year as well. In 11 states, only one or two insurers are offering insurance through an insurance exchange. So much for “robust competition” happening simply because “the government said so”, eh?
Seriously: anyone with common sense could have seen this coming. Insurers don’t exist as public services; they exist to make money – and they can’t do that at anything approaching a reasonable cost to consumers under the conditions mandated by ObamaCare. (Not being able to exclude preexisting conditions essentially guarantees that.) The result was predictable: many insurers opted to leave the marketplace, and those which remained raised prices through the roof.
Result: few or no choices, and they’re all expensive as hell. Ain’t legalized monopoly grand?
Oh, and since all this utter idiocy is subsidized by the US taxpayer . . . wanna guess who’s paying a sh!tload of the cost? Yeah, you’re right: US taxpayers. You and me.
But never fear, fellow citizens! The current phalanx of fools fecklessly fornicating things up by-the-numbers in DC Administration still predicts an increase in ObamaCare enrollment of 9% this coming year! All is simply wonderful, right?
Yeah, right. Just like I’m the Emperor of Japan.
Oh, and remember that “Medicaid expansion” that was thrown in as a “sweetener” to drum up support for this imbecilic squandering of Federal tax money soup-sandwich of a Federal program? Well, it looks like that “sweetener” means Medicaid is going to cost the Federal government somewhere around $550+ billion annually 7 years from now – with states ponying up another $160 billion on top of that.
Doesn’t exactly sound so sweet when the bills finally come due, eh?
Here are a couple of graphics from the 2nd article linked above. They’re quite illustrative of the very predicable problems we’re seeing with Obama’s Abomination. They are linked here for your convenience. The first shows the premium increases by state for a “Silver” plan; the second, the drop-off in participation by insurers in the Federal exchange in various states.
The second link above explains the death spiral in which ObamaCare finds itself today in detail. Yeah, that’s a death-rattle cough you’re hearing.
Whether that death-rattle cough is from ObamaCare or the US economy remains to be seen. Remember: it’s the latter which ultimately is funding this Socialist travesty. And it’s being funded with money forcibly confiscated by the Federal government that would otherwise be put to productive use in the private sector.
Socialism works great until you run out of other people’s money.