Obamacare Will Destroy Health Insurance Companies

December 17, 2012
By

OBAMACARE

Health insurer Blue Shield of California wants to raise rates an average of 12% with some rates going up as much as 20% for some individual policyholders. The profit-haters want the health insurer to use their reserves instead.

Maybe Blue Shield should go into reserves, I can’t say for sure, but it’s a temporary solution. What happens when the reserves are depleted? There’s an easy answer – the health insurers fold and Obama’s dictatorial single payer takes over.

Health insurers can’t issue stock like their for-profit rivals and they have limited access to the debt markets, therefore they need reserves for pandemics and other health disasters.

California just doesn’t want to admit that Obamacare is costing us far more than we were promised.

In this video, Obama lauds the exchanges which states don’t want because the government has no clue as to what they’re doing:

The next video was made before SCOTUS came up with their bizarre ruling that Obamacare is sometimes a tax and sometimes a fine and they can tax us into oblivion.

The situation is actually much worse than the video predicted. For instance, the government took even more money out of Medicare. There hasn’t been an increase in payments to doctors and hospitals for Medicare patients in ten years and the government slashed another $716 billion from future Medicare payments to pay for Obamacare.

This video wasn’t a bad predictor and worth watching:

Read at the LA Times

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