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Exchanges Melting Down As Rates Set To Skyrocket 50%… Again

Sunday, May 24, 2015 21:48
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(Before It's News)

ObamaFail

By: Voice of Reason

FOR MORE NEWS BY VOICE OF REASON CLICK HERE!

 

I’VE SAID IT ONCE, AND I’LL SAY IT AGAIN… 

I could not agree with Gruber more. There was no need for Captain Transparency to be transparent here with Obamacare. A simple IQ over 6 should have been able to discern that this whole thing was total nonsense. It took a special kind of IMBECILE to think that 1) This had ANYTHING to do with healthcare; 2) Was going to SAVE money; or 3) That it won’t KILL business.

Did you know that some Americans are being hit with health insurance rate increases of more than 500 percent?  Taking advantage of “the stupidity of the American voter”, the Democrats succeeded in ramming through one of the worst pieces of legislation that has ever come before Congress. The DEATHBLOW TO THE DOLLAR is near complete. YOU ARE WITNESSING THE END OF THE AMERICAN EMPIRE… RIGHT NOW.

YOU SAID IT PROFESSOR: 

“THE STUPIDITY OF THE AMERICAN VOTER…”

WORSE, THE SAME FOOLS WILL VOTE FOR HILLARY…

[Audio/Video below cannot be seen in Newsletter – have to go to Blog]

Mac Slavo of the SHTFplan.com writes:

Remember when the American people were told that insurance would be free for the poor and affordable for the middle class? You know, back when we had to wait for the Affordable Care Act to be passed before we found out what was in it?

[Audio/Video below cannot be seen in Newsletter – have to go to Blog]

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Within weeks of the program finally launching Americans saw an immediate jump in their monthly health insurance premiums – up to a quadrupling for some families.

As it turns out, insurance providers aren’t done yet. Apparently, quadrupling your rates just wasn’t enough to cover the health care costs for the millions of people who are paying absolutely nothing into the system but continue to receive the benefit of expensive prescription drugs and costly increases in medical procedures.

As a result, by the end of this year you will see your monthly premiums skyrocket, in some cases as high as 50%:

Why The US Consumer Is About To be Crushed: The Obamacare Inflationary Deluge Arrives

Via Zero Hedge

For the past three years, the biggest argument supporters of Obamacare would trot out every single time when faced with opposition to the mandatory tax, would be that despite widespread predictions of soaring prices, US medical care service costs had remained low and even, on occasion, declined (we leave aside the lack of discussion about soaring deductibles which are recurring “one-time” charges incurred whenever anyone does need medical care, and whose weighted impact on overall medical outlays is dramatic).

A big reason for this delayed increase in prices is that many insurers were unable to gauge the full base-effect impact of Obamacare on their P&L: after all, effective implementation of Obamacare had been materially delayed thus preventing an apples to apples comparison of incurred fees versus revenues.

All that changed moments ago when core US inflation finally spiked the most since 2013 driven by a 0.7% monthly surge in medical care service costs: the highest since 2007!

medical-care-inflation

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What’s far worse for the troubled US consumer, this is just the beginning. Because after finally digesting the true cost of Obamacare, any recent insurance prime hikes will seem like a walk in the park compared to what is coming.

According to the WSJ, key insurers in some states are proposing hefty rate boosts for plans sold under the federal health law.

Case in point:

In New Mexico, market leader Health Care Service Corp. is asking for an average jump of 51.6% in premiums for 2016.

In Tennessee, the biggest insurer BlueCross BlueShield of Tennessee, has requested an average 36.3% increase.

In Maryland, market leader CareFirst BlueCross BlueShield wants to raise rates 30.4% across its products.

In Oregon, the largest insurer Moda Health seeks an average boost of around 25%.

All of them cite high medical costs incurred by people newly enrolled under the Affordable Care Act.

The irony is that while the Obama administration “can ask insurers seeking increases of 10% or more to explain themselves, but cannot force them to cut rates. Rates will become final by the fall.”

Supporters of free socialized health care were bewildered back in 2013 when their new insurance premiums took hold and they realized that it was they who would have to cover the bill.

California residents are rebelling a bit against Obamacare, with thousands shocked by the sticker price and rethinking their support, saying that what seemed wonderful in principle is not translating so well into reality.

As Pam Kehaly, the president of Anthem Blue Cross in California, reported, she received a letter from one woman who saw her insurance rates rise by 50 percent due to Obamacare.

“She said, ‘I was all for Obamacare until I found out I was paying for it,’ ” Ms. Kehaly said, in the Los Angeles Times.

Source: We Told You It Wasn’t Free: “I Was All for Obamacare Until I Found Out I Was Paying For It”

Ms. Kehaly and millions of others like her were ardent believers in helping those “less fortunate” by taking money by threat of force or imprisonment from “life’s lottery winners.”

What they didn’t understand at the time, and are likely refusing to admit today, is that under the communist philosophy that pervades much of our legislative infrastructure anyone who actually has a job and money left over after essential household expenses are paid is a lottery winner, and thus, will be taxed by the State for the greater collective.

SOCIALISM IS GREAT UNTIL YOU REALIZE IT’S YOUR MONEY THAT IS BEING SEIZED TO FUND IT!

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File of a man looking over the Affordable Care Act signup page on the HealthCare.gov website in New York in this photo illustration

Photo: Reuters

 

NOW, THE EXCHANGES ARE MELTING DOWN!

Writing for the New York Post, Michelle Malkin writes:

At a recent White House science fair celebrating inventors, a Girl Scout who helped design a Lego-powered page-turning device asked President Obama what he had ever thought up or prototyped. Stumbling for an answer, he replied: “I came up with things like, you know, health care.”

Ah, yes. “Health care.” Remember when the president’s signature ObamaCare health insurance exchanges were going to be the greatest thing since sliced bread, the remote control, jogger strollers, Siri, the Keurig coffee maker, driverless cars and Legos put together?

The miraculous, efficient, cost-saving, innovative 21st-century government-run “marketplaces” were supposed to put the “affordable” in President Obama’s Affordable Care Act.

Know-it-all bureaucrats were going to show private companies how to set up better websites, implement better marketing and outreach, provide superior customer service and eliminate waste, fraud and abuse.

You will be shocked, I’m sure, to learn that ObamaCare exchanges across the country are instead bleeding money, seeking taxpayer bailouts and turning everything they touch to dust.

“Almost half of ObamaCare exchanges face financial struggles in the future,” The Washington Post reported last week. The news comes despite $5 billion in federal taxpayer subsidies for IT vendors, call centers and all the infrastructure and manpower needed to prop up the showcase government health insurance entities.

Initially, the feds ran 34 state exchanges; 16 states and the District of Columbia set up their own.

While private health insurance exchanges have operated smoothly and satisfied customers for decades, the ObamaCare models are on life support.

Oregon’s exchange is six feet under — shuttered last year after government overseers squandered $300 million on their failed website and shady consultants who allegedly set up a phony website to trick the feds.

In the People’s Republic of Hawaii, which has been a “trailblazer” in socialized medicine for nearly four decades, the profligate state-run exchange demanded a nearly $30 million cash infusion to remain financially viable after securing $205 million for startup costs.

The Hawaii Health Connector accidentally disconnected hundreds of poor patients’ accounts and squandered an estimated 8,000 hours on technological glitches and failures. Enrollment projections were severely overinflated like a reverse Tom Brady scandal. After failing to secure a bailout, Hawaii announced this week that its exchange would be shut down amid rising debt.

In Maryland, a state audit found that its health insurance exchange “improperly billed the federal government $28.4 million as former Gov. Martin O’Malley’s administration struggled to launch what would become one of the most troubled websites in the nation,” The Baltimore Sun reported in late March.

That’s in addition to the $90 million the state blew on technical problems. The state scrapped its junk website and forced enrollees to re-submit to the tortuous sign-up process all over again.

Last week, federal prosecutors subpoenaed the Massachusetts ObamaCare exchange after whistleblowers there exposed what a “technological disaster” its “Health Connector” program was.

Boston’s Pioneer Institute senior fellow in health care, Josh Archambault, released a report on Monday detailing the “complete incompetence” of the state’s health bureaucrats from Day One. But taxpayers would be lucky if incompetence were the only sin.

After firing the tech boneheads of CGI, the same company behind the federal Healthcare.gov meltdown, Massachusetts officials “appear to have lied to the federal government to cover up mistakes” made by both the state and the IT company.

As health care analyst Phil Kerpen of the free-market group American Commitment points out, Massachusetts “already had a functioning state health exchange” but “after receiving $179 million from federal taxpayers” to reconstitute it under ObamaCare, “they were able to break that existing exchange beyond repair.” An amazing feat.

Lesson for inventive Scouts and students wondering about what people in Washington, DC, prototype: 

Government bureaucrats don’t make things, kids. They break things.

 

By: Voice of Reason

FOR MORE NEWS BY VOICE OF REASON CLICK HERE!

www.thelastgreatstand.com

 

THE VOICE OF REASON

obamacare

FOR MORE LINKS ON THIS ABYSMAL FAILURE KNOWN AS OBAMACARE:

Pathological Liar

FOR A LONG LOOK AT THE HISTORY OF LIES BY OBAMA:

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FOR MORE ON OBAMA’S UTTER LAWLESSNESS:

 

BE SURE TO CHECK OUT THE GIFT SHOP!

Mug

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  • Broken Obamacare must be by design…they can’t be THAT incompetent…can they?

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