I know it’s difficult to comprehend how Professor Ditherton Wiggleroom was able to get insurers on board with ♡bamaCare!!!, when all he promised them was a captive market of people who would be charged more for higher deductibles and copays. I had to wonder, is the man a genius negotiator or what? But then I saw this and everything became clear:
Robert Laszewski—a prominent consultant to health insurance companies—recently wrote in a remarkably candid blog post that, while Obamacare is almost certain to cause insurance costs to skyrocket even higher than it already has, “insurers won’t be losing a lot of sleep over it.” How can this be? Because insurance companies won’t bear the cost of their own losses—at least not more than about a quarter of them. The other three-quarters will be borne by American taxpayers.
For some reason, President Obama hasn’t talked about this particular feature of his signature legislation. Indeed, it’s bad enough that Obamacare is projected by the Congressional Budget Office to funnel $1,071,000,000,000.00 (that’s $1.071 trillion) over the next decade (2014 to 2023) from American taxpayers, through Washington, to health insurance companies. It’s even worse that Obamacare is trying to coerce Americans into buying those same insurers’ product (although there are escape routes). It’s almost unbelievable that it will also subsidize those same insurers’ losses.
But that’s exactly what it will do—unless Republicans take action.
I seem to recall somebody recently joking about “bailouts now, bailouts tomorrow, bailouts forever!” But that doesn’t seem so cute after this, does it? Because a trillion here, a trillion there, and pretty soon you’re talking real money.
As for the GOP, I’m assuming enough of them will be supported by enough (very flush) insurance companies to prevent any action from being taken.
The only taken anymore is we, the taxpayers.
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