{"id":65348,"date":"2016-04-20T11:35:08","date_gmt":"2016-04-20T15:35:08","guid":{"rendered":"http:\/\/valorguardians.com\/blog\/?p=65348"},"modified":"2016-04-21T04:49:23","modified_gmt":"2016-04-21T08:49:23","slug":"another-chapter-in-that-continuing-good-news-story-called-obamacare","status":"publish","type":"post","link":"https:\/\/www.azuse.cloud\/?p=65348","title":{"rendered":"Another Chapter In That Continuing “Good News Story” Called ObamaCare"},"content":{"rendered":"

We have some recent news about that\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Patently Puerile, Asinine Current Administration concept <\/span>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0current Administration initiative called the Patient Protection and Affordable Care Act (PPACA) \u2013 AKA ObamaCare.\u00a0 And, as usual, the news isn\u2019t all that good.<\/p>\n

A few weeks ago, news articles surfaced saying that insurance carriers were worried about ObamaCare.\u00a0 Specifically, they began warning the public that losses sustained by policies issued through state exchanges were unsustainable<\/a><\/em>.<\/p>\n

Well, yesterday the other shoe fell.\u00a0 UnitedHealth \u2013 the nation\u2019s largest provider of health insurance – has announced it will pull out of most state ObamaCare exchanges<\/a><\/em> next year.<\/p>\n

Why?\u00a0 Simple.\u00a0 They want to stay in business.\u00a0 UnitedHealth estimates their losses due to policies issued through ObamaCare exchanges over the last two years at approximately $1 billion<\/em><\/strong>.<\/p>\n

Gee, who\u2019d a thunk it?\u00a0 I mean, insurance is only based<\/span> on the market model that the insurer sells many policies, but pays out a comparatively small number of claims.\u00a0 Specifically, over the long term an insurer must take in more in income than they pay out in claims and other expenses to stay in business.\u00a0 Otherwise, over the long term they go belly-up.<\/p>\n

That\u2019s a major reason why health insurance companies typically have an exclusionary period for preexisting conditions.\u00a0 It\u2019s also why truly bad drivers end up in the \u201cshared risk\u201d insurance pool in most states \u2013 and then pay through the nose for their auto insurance.\u00a0 Both practices are designed to bring revenues above expected claims payouts; and both practices are supported by hard statistical data.<\/p>\n

ObamaCare\u2019s prohibition on the exclusion of preexisting conditions radically changes the financial basis for ObamaCare insurance policies – it’s raised the amount paid out in claims hugely.\u00a0 This means there are two options an ObamaCare insurance provider has if they want to stay in business:\u00a0 raise premiums dramatically, or cease participation.\u00a0 United Health has just begun the process of doing the latter.<\/p>\n

But wait – ObamaCare has made insurance cheaper, right?<\/p>\n

Yeah, right.\u00a0 Now, tell me another shaggy dog story – this time one that’s funny.<\/p>\n

It turns out that both patient medical costs and health insurance premiums are rising<\/em> under Obamacare<\/em><\/a>.\u00a0 Given basic economics, that was also eminently predictable.\u00a0 A recent study by Blue Cross\/Blue Shield found that on average ObamaCare policy holders are sicker and require more medical care, at larger cost, than people who obtain health insurance through their employers.\u00a0 Wanna guess where the money for those extra costs comes from?<\/p>\n

If you guessed “increased premiums”, give yourself a gold star.\u00a0 Well, that plus subsidies – which are paid out of your<\/em> taxes.<\/p>\n

Gee.\u00a0 What a surprise.<\/p>\n

Bottom line:\u00a0 ObamaCare is based on flawed economic analysis, bad assumptions, and with wishful thinking.\u00a0 It\u2019s the equivalent of King Canute ordering the tide not to rise<\/em><\/a>.<\/p>\n

However, there is a major difference.\u00a0 King Canute didn\u2019t expect<\/em> the tide to obey him; he was making a point to his courtiers concerning the limits of his authority.\u00a0 The imbeciles that brought us ObamaCare actually expected basic economics to change on command.<\/p>\n","protected":false},"excerpt":{"rendered":"

We have some recent news about that\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Patently Puerile, Asinine Current Administration concept \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0current Administration initiative … Another Chapter In That Continuing “Good News Story” Called ObamaCare<\/span>Read more<\/a><\/p>\n","protected":false},"author":623,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[209,220,213,88],"tags":[],"class_list":["post-65348","post","type-post","status-publish","format-standard","hentry","category-teh-stoopid","category-the-floggings-will-continue-until-morale-improves","category-your-tax-dollars-at-work","category-health-care-debate"],"_links":{"self":[{"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/posts\/65348","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/users\/623"}],"replies":[{"embeddable":true,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=65348"}],"version-history":[{"count":0,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/posts\/65348\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=65348"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=65348"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=65348"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}