LETTER: Failing Obamacare program seems bound to collapse
In his lengthy, highly partisan assessment of Barack Obama's presidency, Eliot Glassheim states, "He risked almost everything to successfully reform and extend health insurance coverage to 16 million more Americans, increasing the number of insur...
In his lengthy, highly partisan assessment of Barack Obama's presidency, Eliot Glassheim states, "He risked almost everything to successfully reform and extend health insurance coverage to 16 million more Americans, increasing the number of insured from 84 percent to 91 percent of the population" (" Obama has earned 'admiration, respect and thanks ,'" Viewpoint, Page A4, March 4).
Public approval for the Affordable Health Care Act-aka Obamacare-has fallen to 26 percent.
Premiums for the plans offered are projected to skyrocket, prompting Americans to pay the law's penalty and remain uninsured.
The premiums that are paid aren't keeping the highly unpopular law afloat. Insurance companies facing massive losses will opt out of the Obamacare market by 2017.
One of many examples: in North Carolina, Blue Cross Blue Shield offers Obamacare-with 5 percent of the insurer's ACA customers consuming $830 million in health care costs. Meanwhile, the insurer collected only $75 million in premiums. That's with the subsidy.
An official with the Centers for Medicare and Medicaid Services recently told the House Oversight and Government Reform Committee that eight of the 11 remaining Obamacare co-ops have been selected for "corrective action plans" and "enhanced oversight."
Twenty-three co-ops were created under Obama's exclusively partisan health care overhaul. More than half have collapsed and no longer are selling plans, including co-ops in Arizona, Michigan, Utah, Kentucky, New York, Nevada, Louisiana, Oregon, Colorado, Tennessee, South Carolina and a co-op serving Iowa and Nebraska.
Some of Washington's establishment and some of our elected "public servants" within federal government are feeling the spring tremors of a November political tsunami. Some are in denial.
There won't be enough lifeboats when it hits.