We’ve talked ad nauseam about Obamacare on this site. We’ve discussed how from a purely financial standpoint it cannot succeed because it runs out of money quickly. It can’t make it to ten years without draining the treasury. We’ve talked about how the people aren’t going to back it. We’ve talked about how the states will be bankrupt trying to run it. And it’s all coming true. You would have thought somebody, somewhere would have listened.
Now the chickens are coming home to roost.
The Wall Street Journal had a terrific article in yesterday’s edition, that called Obamacare “the free entitlement program nobody wants”. Can you imagine getting something free and turning it down? Of course you can. If you can see that it’s a piece of crap, and you already have enough crap in your life, why in God’s name would you take on more crap? That’s exactly what’s happening with Obamacare…and it’s going to cave in on itself very shortly.
If not next year (probably not, because it’s an election year), then certainly in 2017, regardless which party wins the election, Obamacare will be facing a major overhaul. It will have to because it’s out of money. The Congressional Budget Office and the Rand Corporation have said that in 2016, there would have to be 20 million enrollees to Obamacare in order for it to remain solvent. There are 9.1 million right now, including the 6 million that lost their individual health care when Obamacare kicked in. That means that there are only 3.1 million NEW enrollees in Obamacare. Seven states have declared their exchanges bankrupt, and six more are ready to. 36 states realized the financial elephant running one of those exchanges would be, so they decided to let the federal government have at it. Add those numbers up and what do you get? One state that is doing well with Obamacare. That’s it.
There aren’t enough people signing up is the main problem. The government revised its figures (again) saying that they’d be shooting for 9.4 million when the new enrollment period opens up on November 1st. That’s an increase of only 300,000 people all around the country. That’s like saying each state only has to have 6,000 new enrollees. Are you kidding me?
Health and Human Services estimates that for every person that has signed up for Obamacare, there are two people who are uninsured. And they’re scratching their heads trying to figure out why. I’m going to help them out. HHS…Sylvia Burwell…are you listening? Here is the reason your healthcare plan sucks and isn’t working:
Just because you have insurance doesn’t mean you have healthcare. It’s got to give you access to healthcare. All you have is an insurance plan with partially paid premiums, a very high deductible, and a co-pay that no one can afford.
There you go. You can send my check for consulting you to my home address. Make sure it’s got lots of zeros!
For the rest of us, it means one thing. Obamacare is broke and a Republican congress is not about to spend any more money on it. That means an overhaul, or a bankruptcy of it. What other options are there? Insurance companies are out of the grace period where the government subsidies to them end in 2017 if they’re not making a profit, and they’re going to be screaming bloody murder if that happens. You’re basically going to be finding a bunch of companies that had been on the Obamacare rolls, dropping off because it’s costly to them. And unlike government…they HAVE to show a profit or their shareholders are going to be getting very nervous!
No, Obamacare will gut itself. It doesn’t need the GOP to make some promise it can’t keep. It’s going to happen. We just have to be patient!
Carry on world…you’re dismissed!