ObamaCare Update

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So we are a few years into the Health Care Reform that President Obama is happy to lend his name to and what is happening so far?

Good news -

  • Many people have coverage who did not have coverage before
  • Healthcare.gov works reasonably well


Bad news -

  • Almost no one got to keep their health plan and many did not get to keep their doctors, contrary to President Obama's promises.
  • Premiums are going up, which is driving enrollment down.  That is going to cause more premium increases in the future because guess who is cancelling their coverage - sick people who need insurance or healthy people who don't?
  • The Federal Government is combating this by trying to artificially hold down insurance premium increases.  Unfortunately, nothing in Obamacare holds down the price of health care, which is driving the insurance premiums upward.
  • Meanwhile, competition among insurers is diminishing and less competition is not the way to lower prices either  


    • Aetna is buying Humana.  
    • Anthem is buying Cigna.  
    • The non-profit co-ops who President Obama said were going to provide competition for greedy insurers are failing.  10 out of 23 have closed.  
  • Healthcare.Gov is admitted to have security flaws that place the data of anyone who shops there at risk

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