The "Affordable Care Act" or "Obama Care" is in danger of collapse.
America's largest health insurer, United Health Care, has recently announced heavy losses because of selling policies in the Obama Care exchanges. The insurance company said it may have to pull out of Obama Care altogether.
Three of United Health Care's largest competitors, Cigna, Aetna and Anthem, have similar problems. In fact they have already announced that they are pulling out of some Obama Care exchanges in certain parts of the country.
This comes in spite of insurance companies raising premiums significantly and hiking their deductibles as high as they can to save money. They can't break even. So the insurance companies are being forced out.
Rising deductibles, co-pays and premiums mean unhappy policyholders, who are seeing the cost of their insurance skyrocket and their policies paying less and less on their rising medical bills.
In this type of situation, what would be the logical solution? Either a complete overhaul of the failed system or a repeal of Obama Care altogether. But that will not happen, at least not before a new president takes office on January 20, 2017. Obama will certainly veto any serious change to the Affordable Care Act while he remains in office.
While there are plenty of people in Congress who understand the failure of Obama Care (even many Democrats), and who would vote for serious overhaul, they know any such legislation would be vetoed by Obama. In the meantime, those who suffer are the policyholders--and the uninsured who can't afford to buy "Affordable Healthcare" from Obama.
If Obama Care remains in place, the only two things that can possibly happen are: premiums will continue to skyrocket, making Obama Care even more unaffordable; and co-payments and deductibles will continue to increase, leaving policyholders paying a larger and larger portion of their medical bills out of pocket. And as more and more insurance companies are forced to bail out, it will become harder and harder to find coverage in many parts of the country.
As predicted, Obama Care has created more problems than it has solved.
No comments:
Post a Comment