- Americans eat too much of the wrong kind of food, resulting in obscenely high obesity rates for the country.
- Our food chain is infested with overdoses of high fructose corn syrup, salt, and other unhealthy additives.
- Americans smoke too much.
- Americans do not exercise enough.
- The country is in serious need of health care tort reform.
- Barriers to insurance company competition across state lines need to come down.
- Obama Care never “followed the money” to find out who is actually profiting from the ever escalating healthcare costs in this country and how to get those factors under control.
- Obama Care never got the immense amount of fraud and abuse in current government healthcare programs, Medicare and Medicaid, under control in order to save money to efficiently fund other government health care initiatives.
- Obama Care never put serious research money towards curing the major diseases that drive high healthcare costs such as high frequency cancers and dementia type diseases.
For the next few days we will be reviewing the latest unfolding disasters from the worst piece of legislation ever written by Washington:
- In total, they found that insurance companies have suffered substantial losses on their Obama Care policies so far.
- These large losses were incurred even though they were receiving subsidies (reinsurance) for the first couple of years as laid out in the Obama Care legislation. Otherwise, their losses would have been much worse.
- The companies lost an aggregate $2.2 billion, which would have really been $8.9 billion since their losses were offset by payments of $6.7 billion from the reinsurance process.
- The Obama Care policies of the insurance companies would have had to be 26% higher from the start just to break even financially. But that would have started the death spiral, according to the authors: “If premiums had been 26 percent higher, on average, enrollment would have been lower and adverse selection would have increased. Relatively healthy people and higher income enrollees, who qualify for smaller subsidies if they qualify for any subsidies, would have been deterred to a greater degree than people who expected to use more health care services. As a result of this dynamic effect, the premium increase would likely have needed to be substantially greater than 26 percent for insurers to break even on their Qualified Health Plans in 2014.”
- But the reinsurance programs go away in 2017, likely meaning that the companies will have to jack up their rates to cover the lack of subsidies, much like we just saw what is going on in the New York state.
- A Federal district court in Washington, D.C. recently ruled in favor of a U.S. House of Representatives’ challenge to the Obama administration’s implementation of part of Obama Care.
- Specifically, the suit brought by the House wanted the court to force the Obama administration to stop using general Treasury funds to subsidize insurance companies that were offering Obama Care insurance policies since the Congress, in passing the original legislation, forbid that kind of subsidies to exist.
- The court found the Obama administration in violation of the Constitution’s Article I, Section 9,Clause 7, which states that “No Money shall be drawn from the Treasury, but in Consequence of Appropriations made by Law.”
- Since Congress passed no law approving the use of taxpayer funds in this manner, the court and judge had no choice but to stop the process.
- The judge was quite sarcastic in her ruling finding this misuse of funds was “a most curious and convoluted argument whose mother was undoubtedly necessity.” In other words, the insurance companies are getting killed financially by Obama Care policies and Obama, out of necessity to save his landmark legislation, had to get very convoluted to get around the law and Constitution.
- She also got funny in her comment that the Obama administration was trying to “squeeze the elephant of Section 1402 reimbursements into the mousehole of Section 1401(d)(1).”
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