It would seem appropriate that Obama, the bailout President, would make certain that his so-called “signature achievement” – Obamacare – would have every attempt to succeed. To provide you with a couple of well-documented examples –
- Obama has implemented unilateral changes to the law without the consent of Congress
- Obama has implemented unilateral delays to numerous provisions (especially the funding) also without the consent of Congress
The latest change is in response to the fact that Obama lied – again – about the costs of Obamacare. CBO projections for the costs of Obamacare ranged from $940 billion to over $2.4 trillion. (It has already been proven – repeatedly – in Europe that government-run healthcare cannot…no…will NOT be cheaper than what we have now.) However, Obama will not let another lie stop a train wreck from happening. So, he (and the Democrats) concocted the “temporary risk corridor” program.
As shown in this CMS PowerPoint, the “temporary risk corridor” – by design – “limits insurer losses (and gains).” So, we need to break that purpose into two parts – “losses” and “gains.”
This chart provided by The American Academy of Actuaries illustrates what happens when an insurance company loses money on the exchanges.
If your insurance carrier loses 3% or more than they expected, the government is reimbursing the carrier for 50% of their losses. If it is over 8%, then the government will cover 80%. Where will that money come from to reimburse carriers who are going to lose money with the insanely high premiums that come with Obamacare?
Your tax dollars. That’s where!
Do you remember these gems from Obama?
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Starting at 1:06 – “…now you can do it [have healthcare] for less than your cell phone bill…”
And then you have this one –
Starting at 0:33 – “…if you looked at…budget…cell phone bill, they haven’t prioritized healthcare…”
The obvious implication is that Obama is telling you to drop your cell phone to pay for health insurance. The same insurance which he said would costs less than your cell phone.
Even the Democrats have said that Obamacare will only “control the cost curve.” Translation – the costs of healthcare will ALWAYS continue to rise. Remember the individual mandate – the primary funding tool – will rise from $95 to $695 or from 1% to 2.5% of your income (whichever is more). This is NOT spin. It is in the law itself.
To ensure this, Obamacare has enacted the following tax on everyone enrolled in Obamacare –
“…The $63 levy on each person covered in a health plan goes into a fund to compensate insurance carriers who end up paying big medical bills for new customers who buy on the government exchanges…”
This is a tax. It is collected by the government and paid for by the people who purchase the insurance. There are no exceptions. Remember Obamacare was only legal under the power to tax according to the Supreme Court. (Question – When is the last time a Democrat president actually repealed a tax they implemented?)
Liberals need to remember that most of the alleged 8 million sign-ups still have not paid a single premium for the healthcare insurance they now have. So, the insurance companies – who must provide insurance – are losing money which the government is going to cover right out of the gate. Then for those that have, premiums are a monthly expense. Obamacare is not stable unless they pay their premiums each and every month.
As for the gains –
So, even if your insurance carrier was financially responsible, you will still be on the hook for the losses that WILL happen by other companies. Anyone who tries to tell you otherwise is simply trying to pull the wool over your eyes.
Based on the risk corridor and the risk adjustment processes – that are in the law, every insurance carrier in America has been effectively turned into a non-profit. Carriers that lose money get to take money from those who make money. There is no competition, no improvement, no nothing.
With this “corridor”, the only viable option for insurance carriers to either – 1) not participate in Obamacare, or 2) go out of business since there will be no ability to be profitable.
Remember what happened to the veterans whose healthcare has been provided by the government? That is what Obama and the Democrats think is best for all of us.
Is that what you want?