ObamaCare Nearing the Tipping Point of Failure
In Soviet America, Affordable Care Act cost you!
In Soviet America, Affordable Care Act cost you! Sure, we know the promises of Barack Obama and the rest of the liberal politicians all those years ago: ObamaCare will save the nation money. Families will spend less for health care. The health care exchanges will foster competition among insurance companies and it will drive costs low. Blah, blah, blah.
The true cost of the legislation became even more apparent recently as United Health Group seeks to pull its ObamaCare coverage from Georgia and Alabama. Its retreat from Obama’s signature legislation has begun. As Investor’s Business Daily wrote, “ObamaCare requires people to buy insurance, but UnitedHealth Group is losing so much money it’s exiting two states, and eight co-ops are on the brink. This is your health care on government.”
That’s right: a health insurance company could not turn a profit in an economy where the government forces people to buy its product. The co-ops that were designed to increase the amount of competition in the system are in their second phase of failure. At the start, there were 23 of them. Today, 11 exist but eight of them are not expected to survive until next year.
The Obama administration continues its attempted extermination of the health savings accounts — one of the last holdouts of a market driven health care system — despite the fact that Americans are flocking to them. Year after year, premiums continue to spike and Americans looking for reasonable insurance are running out of options. It’s a system that cannot last.