Mr. Obama scratching his head. He was simply confused about Obamacare policy cancellations
Update: 11/20/13: Mr. Obama met with insurance commissioners to discuss his ‘fix’ and so far 9 said there states would not go along with it because it is illegal among other reasons. Mr. Obama didn’t put up much of a fight. He wasn’t very serious about the ‘fix.’
Mr. Obama met with top health insurance CEO’s at the White House yesterday, accompanied by Denis McDonough, Mike Hash, Marilyn Tavenner, Chris Jennings, and, of course, Valerie Jarrett.
He was there to talk about making his ‘fix’ work but he was also there to get insurers involved in enrolling all the people who had cancelled policies or will have cancelled policies as an alternative to the ‘fix.’
Mr. Obama told the insurers they would take a financial hit if they went along with his fix because he could only bail them out to a point. They then spent much of the time talking about how they could get people signed up instead of re-instituting cancelled policies.
The president told insurers that there is not enough money to prevent some insurance firms from taking a hit over his fix. There is a bailout provision for insurance companies in The Affordable Care Act called ‘risk corridors’ which gives them restitution if they fail to make the necessary profit, but that will be limited, Mr. Obama said.
The bailout provision does not allow for direct payments to insurers which is what Mr. Obama plans to do. It does not meet the requirements of the law.
He told the insurers that his ‘fix’ would cost them. He reportedly asked them to take the hit and reinstate cancelled health insurance plans. He offered them some ‘sweeteners’ but warned that they would assume some of the added costs they would accrue in reversing the process.
If Mr. Obama was serious about this ‘fix’, he would have gone to Congress and asked for legislation to ‘fix’ it.
The insurers. as a result of this news, have come to the conclusion that they need to help Mr. Obama sign people up as fast as possible.
If healthy people don’t sign up in large numbers, the law will be destabilized, driving up premiums, and the insurers won’t have the millions of new customers they hoped for. Worse than that, they could collapse. They face an existential threat at this point.
Dr. Mario Molina, CEO of Molina Healthcare in California, said, “I think the best thing we can do to mitigate risk is getting…as many people enrolled as possible. There is no substitute.’
Obama and the insurers discussed the ways insurers can enroll people in the exchanges and bypass healthcare dot gov.
Insurers would assume a larger role in the sign up process.
Insurers now want to use their ‘expertise in enrollment to solve some of the problems’ by allowing people to sign up directly with insurers, who will, by the way, not be able to determine subsidies with any accuracy.
Molina, helping Obama out with his blatant lies, said the following:
“His [Obama’s] understanding of the process has grown a lot in the last three months and he’s much more conversant in the details…When the president said, ‘If you like it, you can keep it,’ I think he meant in general terms-you can, as long as it’s an adequate policy. When you try to reduce it to a sound bite, you lose some of the details,” Molina said.
Molina, who is either incredibly naive or incredibly deceitful, would have us believe that this brilliant legal scholar – Barack Obama – didn’t understand and was merely overusing soundbites! Soundbites!?!
The insurers have a good deal of money invested in this disastrous Obamacare bill it should be noted here.