The House Speaker offers an alternative because Obamacare collapsing under its own weight.
Is Obamacare collapsing? That’s what Paul Ryan said recently.
Whether it’s the fact that President Obama promised Obamacare would lower premiums for the typical family by $2,500 and instead, average premiums in job-based coverage increased by $3,775, or that the administration is so desperate to keep Obamacare in place that it’s actually paying for part of the law without approval from Congress (which is illegal ), it isn’t doing much to lower the cost of health care.
Obamacare was never designed to lower the cost of health care—it was designed to increase participation in ineffective, government-run health insurance marketplaces by executive fiat. Instead of making health care more affordable and giving individuals and families both the choice and economic freedom to purchase a plan that meets their needs, Obamacare forces consumers to choose between a handful of costly plans that may not meet their specific needs.
Is anyone surprised by this? Open enrollment begins on November 1 and the election is on November 8. What will voters do in response to the huge rate hikes coming?
Politico reported Monday that Minnesota is facing a dire situation.
Premiums for individual market plans in Minnesota will increase by 50 percent to 67 percent next year, commissioner Mike Rothman announced on Friday. Most plans also are instituting enrollment caps; for instance, UCare will stop sign-ups after hitting 30,000 customers.
And that follows more bad news: Blue Cross and Blue Shield of Minnesota announced in June that it will drop its most popular individual market product, which accounted for roughly 40 percent of the market in 2016.
“These rising insurance rates are unsustainable and unfair,” Rothman said. “This is a real emergency situation.”
Enrollment caps mean only one thing: that Blue Cross is losing money on each enrollee. The only reason they are still in the individual market place at all is due to political pressure. If the marketplace was profitable, Blue Cross wouldn’t want to limit the number of customers.
This is one of many proofs that Paul Ryan is right. Obamacare makes people buy insurance against their will and pressures insurance companies to offer plans that they don’t want to offer.
We see Obamacare collapsing because everyone it is making everyone miserable.