Friday, December 11, 2015

Marco Rubio has already cut ObamaCare’s throat

The New York Post reports:
ObamaCare is on death watch.

On Wednesday, Cigna CEO David Cordani said the giant insurer won’t commit to offering policies on the ObamaCare exchanges beyond next year. This, just two weeks after a similar announcement from the country’s largest insurer, UnitedHealth.

The problem: Exchange policies (written by Democratic politicians and bureaucrats) turn out to be a good deal only if you’re sick. Healthy folks have been opting out — so not enough are paying premiums to make selling the policies profitable.

One gimmick might keep insurers in the game: The law’s “risk corridor” provision allowed Washington to tax profitable exchange plans to prop up unprofitable ones.

But even in Year One, there weren’t enough profits to cover the losses — so Team Obama transferred money from elsewhere.
Fascist style health care sure is unprofitable and inefficient.