OK, the word used was “Oligopoly,” not “Oligarchy.” But you can’t have one without the other. Both are tyrannical.
Seeing this article at Slate made the image of Palpatine revealing himself come to mind.
So this is how liberty dies, to thunderous applause.
The title of the article is: “The Answer for Obamacare? Oligopoly.” And the sub-headline: “Less competition, not more, will save the health insurance exchanges.”
Of course, this pretends to “solve” the problem by officially sanctioning what Obamacare is already doing. Obamacare is already massively reducing competition and leaving areas with few if any choices. The main accomplishment in the article is to tell people that it is good to eliminate all but a few mega-corporations out of business and leave us all as wards of a handful of giant companies.
Our proposal is to limit participation in the health exchanges to a small number of the largest and most experienced companies—a kind of oligopoly. In this sort of marketplace, each firm is concerned with the stability of the market overall. Just like employers, large insurers will raise the prices of bronze plans to steer the healthy toward platinum. This won’t happen though if a horde of smaller insurers can destabilize the market by offering cheap bronze plans that steal the healthiest people from the large players. Of course, one major insurer could go rogue and try to live off only bronze. But given how cheap such a plan would be, it wouldn’t make much sense—a large insurer would want a slice of the broader, more profitable market. Only if many small insurers hold profits down does the bronze-only strategy pose a real threat.
Can you get any more openly corrupt? They actually link to the five companies—WellPoint, Cigna, Aetna, Humana, and United Healthcare—to which they plan to hand us over.
Notice that they want Bronze plans to go up in price, even though three fourths of Obamacare enrollees are paying more for their insurance than before.
Knowing how much Obama hates to go through the legislature, the writers assure us that the Obamacare bureaucrats can install the oligopoly on their own.
Our idea would not require new legislation. Obamacare’s regulators (at the Center for Consumer Information and Insurance Oversight and state agencies) could just tweak the standards for certifying health insurers, as they have plenty of discretion to do. And since the big and most influential insurers would benefit, the politics look pretty good.
Right, the big business can afford the lobbyists. All the smaller businesses will be wiped out without any real political fallout.
I’ve wondered in the past why insurance companies were going along with this plan. If this is where Obamacare is headed, then it will explain why they have been supportive of the law.