The failure that is Obamacare continues to suffer a slow death. The educated people knew right from the start the model had little chance of succeeding. We are a capitalist country and Obamacare is so overwhelmingly socialist it just could not fly. We are not a country of taking from productive people and giving to unproductive. As much as the Liberals keep trying to push us to a welfare state.
The latest blow to Obamacare is insurance giants Humana pulling out of most states. Humana took nearly $1 billion in losses from the coverage this year and will only offer plans in 11 states next year. This follows the exit from the exchanges of such other insurance giants as Cigna and UnitedHealth Group after ridiculous losses. It’s the much-feared “death spiral”: Too many older, sicker folks are resorting to ObamaCare policies, and not enough younger, healthy folks. So the average enrollee is running up higher bills than the insurers expected — and raising rates will only scare away even more low cost customers.
And countless people stuck buying policies on the exchanges have been shocked at how limited their options (like choice of doctor and hospital) turn out to be.
President Obama and Hillary Clinton both used to pooh-pooh the idea of a “public option”: Government-run health insurance that’s just a step away from European-style socialized medicine. But ObamaCare’s woes have pushed both to start suggesting it may be the only answer after all.
The only answer, that is, besides replacing ObamaCare with a truly market based system that still helps the less fortunate, but doesn’t try to dictate everything from Washington.