Obamacare Gives Insurers Billions of Dollars

The Obamacare reinsurance plan arbitrarily became a gift to insurance companies that was stolen from those who were required to buy insurance. Obamacare seemed risky and the system had a mechanism for inducing insurance companies to cooperate. That mechanism ended up simply giving insurance companies money. As the Federalist reports: The Transitional Reinsurance Program is one of three mechanisms in Obamacare created to protect insurance companies from the risks associated with entering into Read more […]

Health Insurance Giant Gets Massive Profits Thanks to Obamacare

The health insurance Giant Aetna is profiting a great deal through the Affordable Care Act. Burce Jaspen writes at Forbes.com, “Aetna CEO Says Obamacare An ‘Attractive Growth Opportunity.’” How nice for him. Health insurer Aetna said it would make more money than originally anticipated thanks to “attractive growth” from new enrollment on public exchanges under the Affordable Care Act. Aetna now expects its 2015 earnings per share of “at least $7.00” compared to an earlier Read more […]

Hundreds of Thousands Getting Obamacare Subsidies Being Contacted, Questioned

I reported on this disaster a few days ago. Now the Administration is trying to fix it. The problem is immense! The New York Times Headline says merely “thousands” will be question about their subsidies. The Obama administration is contacting hundreds of thousands of people with subsidized health insurance to resolve questions about their eligibility, as consumer advocates express concern that many will be required to repay some or all of the subsidies. Of the eight million people who signed Read more […]

Obamacare Insurance Rates Starting to Skyrocket for 2015

It is horrible news for us, the American people trying to make a living. But as political news goes, it is actually rather wonderful, especially if these stories multiply as we approach the 2014 elections. Back in November 2013 I said that it seemed as if the Affordable Care Act was going to make the insurance companies crash and burn. Of course, the alternative to crashing and burning, for insurance companies that survive 2014, is to pull sharply out of their nosedive in 2015. That would mean Read more […]

Local Taxpayers Threatened With Lawsuits If they Don’t Sink Money Into “Preparing for Climate Change”

My first reaction to the thought of insurance companies suing over Climate Change was that this was another horrendous outcome of bad pseudo-science. From NBC News: To insurance companies, there’s no doubt that climate change is here: They are beginning to file lawsuits against small towns and cities who they say haven’t prepared for the floods and storms that will cost the companies billions in payments. Earlier this week, the U.S. arm of a major global insurance company backed away from Read more […]

Obamacare Was Not Designed To Get Insurance To the Uninsured

Democrats: They hate us for our freedoms. It’s really as simple as that. Read the article. From TheFederalist.com: “What was the point of Obamacare?” Last week, the Washington Post delivered a bombshell report: “Only one in 10 uninsured people who qualify for private plans through the new marketplaces enrolled as of last month.” Instead, the overwhelming majority of those who are enrolling in insurance plans on the ObamaCare exchanges already had insurance. The lie of the year for Read more […]

NPR Obamacare Success Story (Part Two): This Insurance Plan Is Aimed At Crashing & Burning

I’ve blogged about some incredible spin in this NPR story about Lara Imler, an uninsured hair stylist who applied for insurance through healthcare.gov but has no real idea if she succeeded. At the time of the story she was “optimistic” and that was all it took for NPR to declare in their headline that, “Persistance Pays Off For Uninsured Alaskan.” But the hyper spin in this piece was not what made me want to blog about it. Nor do I really care about the garbage website that seems like Read more […]

Doctor Stops Taking Insurance, Cuts Prices in Half

I’m not sure how long this would be allowed to last since Obamacare will require everybody to have insurance, and there would be less incentive to go to someone like this who no longer wants to work for the government or insurance companies. Michael Ciampi is a family doctor in South Portland, Maine who left Mercy health system in 2003 to operate his own private practice. He didn’t like the hospital setting, because “you have a lot of administrators that [control] what you do.” He doesn’t Read more […]