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The Un-affordable Care Act June 5, 2013 1:00 PM | Tagged as markets, Obamacare, socialized medicine, train wreck
WSJ June 4, 2013 – Page A14 “ObamaCare Bait and Switch” (editorial)
The Biz Bucks Guy claims no in-depth understanding of the 2000-page ObamaCare legislation. But it seems to him ObamaCare is destined for collapse. The Federal Exchange is supposed to be operational on October 1 of this year, so people can select coverage effective on January 1, 2014. This is crucial in Arizona because their State of Arizona small-business health plan is being scuttled on January 1, 2014 in light of ObamaCare. What happens when the AZ plan is defunct and ObamaCare is not functioning? He has written his legislators and gotten no response. This appears to be part of the train wreck that Senator Max Baucus (D-Montana) has predicted.
Now, the referenced article shows another selling point for ObamaCare is crumbling. The rates for coverage are supposed to go down. Remember its name, “The Affordable Care Act”? Well, it’s more accurate title would be “The UN-affordable Care Act”. Why?
According to the reference editorial, California and Oregon are setting up their own exchanges. Some Democrats are touting this as proof of coverage costs going down. But wait. The prices are subsidized and, for many, the forced coverage is increased. When put on an apples-and-apples basis, the price of coverage is up substantially. Some premiums will more than double!! Even many Democrat politicians are admitting this.
If the price of coverage is forced by government below the natural market clearing price, a shortage of insurance options will develop overnight.
Unless delays -- caused by incompetent people implementing incomprehensible language -- save us, The Biz Bucks Guy expects an ObamaCare meltdown of monumental proportions. Care will be less. Doctors will opt out. Shortages of many key commodities will develop. Prices for coverage will increase. R&D will drop. Our wonderful US healthcare system will be a joke. Politicians will run for cover after throwing the President under his own health care bus. This may even happen before November 2014's Congressional election.
Then, the nation can have a head-to-head debate between the so-called single-payer approach (insert here: a totally socialized, government-run medical industry from the same people that brought us the post office, the IRS scandal, and the ObamaCare train wreck itself) and a free-market approach that will surely yield lower costs, more flexibility, greater health outcomes, and better research and development.
Let’s hope the country adopts the common sense, market-based approach. Markets work. Bureaucracies don’t.
Posted in Health Care, Price Controls | 0 Replies
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