A Cure for What Fails You – Obamacare Death Rattles
The November elections spell the end for a lot more than the Obama administration. It could mean the end of one of its worst mistakes as well.
The two-term failure of Obamacare may not last beyond its namesake, experts suggest, now that insurers are jumping the sinking ship. A few months ago, plenty of people panicked when UnitedHealth Group — crippled by more than $1 billion in exchange losses — floated the prospect of exiting the president’s bomb of a coverage system. Now, it seems the company is taking the first steps to a full-fledged exodus by pulling out of Georgia and Arkansas in 2017.
Others, who have intently watched the nation’s largest insurer, are also threatening to leave. Humana executives say they may also sever ties, which, the Motley Fool warns, could lead to the law’s complete collapse. Already, they write, “In 2016, the risk corridor wound up being underfunded by more than $2 billion, leading more than half of Obamacare’s approved health care cooperatives to shut their doors… If the largest health insurer in the country pulls out of Obamacare because it can’t turn a profit, then what sort of sustainable future does the program really have?”
With enrollment well below the government’s expectations and premiums more unaffordable than ever, it’s no wonder House Republicans are kicking their Obamacare replacement plans into high gear. House Energy and Commerce Chairman Fred Upton (R-Mich.) has been part of a core group working to replace the president’s miserable excuse for a health system since it became law. But finding suitable alternative has been a complicated process, but Upton promises that conservatives are making good headway. “Give us a little time,” he said, “another month or so.”
In the meantime, if the market doesn’t destroy Obamacare, the current crop of presidential candidates will. Only Hillary Clinton has said she would leave the unpopular law in place. Even so, Motley points out, it’s only a matter of time before the fragile system collapses on itself. “The only near-certainty at the moment is that Obamacare’s future looks as a shaky as ever.” And anyone who’s a fan of freedom, conscience, and lower premiums should be happy to hear that!
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