Weird Dave from the AoSHQ posted this up about last week about Assurant Health losing between $80-90 Million via ObamaCare in 2014.
The takeaway from this, the canary in the coalmine, is that a Fortune 500 insurance company, one that’s been around since the 19th century, tried to play within ACA rules and utterly failed. There’s going to be more of this. Major carriers are currently protected from loss by the risk corridor guarantees in the ACA (to simplify mightily, the Feds are covering their losses for the first 3 years), but that goes away by 2017, and we are going to see rate spikes and contracting networks that will make today seem like the good old days. Gonna see more companies fail, too. Isn’t that a nice inauguration gift JEF’s leaving for his successor?
And what will be the response from the left? “This isn’t working! The free-market failed! (Never mind that it did no such thing) We need single-payor!â€. And if Hildabeast, or Lieawatha, or Tommy Carcetti or the Catamount Communist or any other Dem is elected President, we’ll get it too.
As was the plan all along.
Ayup.