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ObamaCare’s latest victims: 100,000 New Yorkers and taxpayers everywhere
Bad news for New Yorkers, thanks to ObamaCare: More than 100,000 policyholders just learned that their Health Republic insurance plans will be canceled on Dec. 31. The start-up insurer (spun off from the Freelancers’ Union) is hemorrhaging red ink and has to close down.
That’s unfortunate for the policyholders, who now have to scramble to find other coverage and try to keep their doctors.
But even worse is the abuse of taxpayers across the country: Congress loaned a whopping $2.5 billion of taxpayers’ money to Health Republic of New York and 22 other boondoggle insurance co-ops, even after being warned by its own budget experts that many co-ops would fail and not repay the loans. How carelessly politicians spend other people’s money.
If anything, the experts’ warnings were understated. Across the nation, 21 out of the 23 co-ops are either shut down already or losing money. And it’s your money going down the rathole.
The Obama administration itself labeled six of the co-ops in critical condition. Too bad it refuses to disclose which ones: Policyholders deserve as much warning as possible that their insurance may be on the rocks.
Thank the left-wingers in Congress and the Obama White House who concocted this scheme back in 2010 for this mess.
Abhorring for-profit insurance companies, they insisted that the Affordable Care Act establish nonprofit insurance cooperatives to compete with big players like Aetna and Humana.
Preposterously, the Obama administration specified that the co-ops be run by novices with no history of ties to the insurance industry. As if measuring risk and pricing policies is something that requires no expertise.
Obama administration rules also barred the start-ups from spending money on advertising or marketing to make their products known. Why? Because the left has always blamed the high cost of health insurance on ad spending. It was a formula for failure.
A wacky ideological agenda doomed these co-ops from the start.
The New York co-op’s collapse is an especially humiliating defeat for the Freelancers’ Union and Sara Horowitz, its self-proclaimed labor visionary, who has spent years touting the benefits of the collectivist “sharing economy.” But make no mistake: Taxpayers and policyholders nationwide are taking a hit.
All across the country, loans went to Obama cronies from his pre-presidential career as a community activist. During the fall of 2012, as his first term neared its end, Obama shoveled out money to these experimental start-ups.
Remember the outrage over the failed green energy project Solyndra? That only cost taxpayers $500 million — a fifth of what they could be forced to pay for the co-op folly.
The losses are racking up. A co-op in Vermont closed in 2013. Iowa’s CoOpportunity Health collapsed in January, taking $145 million in federal loans with it.
Louisiana’s Health Cooperative shut down in July, after a steady stream of red ink. And in August, Nevada’s co-op announced it will close up by Jan. 1. It had $65.9 million in federal loans on its books.
A July inspector general’s report warns that several remaining co-ops are tottering. Yet the media are almost silent.
That’s especially regrettable: Policyholders should be warned that they may have to switch plans (and doctors) in the future. And the public should get a straight story about how its tax dollars are going up in smoke.
During the wrangling in Congress over Obama’s health law, the co-ops became the consolation prize for lawmakers dreaming of socialist health care, also called a single-payer plan. There’s a lesson here, though some people refuse to accept it.
A Health Republic executive suggested that the co-ops are failing because a “bitterly partisan Congress” provided less funding than they actually needed. No, more funding would have resulted in more taxpayer money down the drain.
When you want to solve a complex problem like increasing access to health care and controlling costs, look to the marketplace, not the ivory-tower wonks and community activists whose hubris is rivaled only by their lack of practical knowledge.
http://nypost.com/2015/09/29/obamacares-latest-victims-100000-new-yorkers-and-taxpayers-everywhere/
That’s unfortunate for the policyholders, who now have to scramble to find other coverage and try to keep their doctors.
But even worse is the abuse of taxpayers across the country: Congress loaned a whopping $2.5 billion of taxpayers’ money to Health Republic of New York and 22 other boondoggle insurance co-ops, even after being warned by its own budget experts that many co-ops would fail and not repay the loans. How carelessly politicians spend other people’s money.
If anything, the experts’ warnings were understated. Across the nation, 21 out of the 23 co-ops are either shut down already or losing money. And it’s your money going down the rathole.
The Obama administration itself labeled six of the co-ops in critical condition. Too bad it refuses to disclose which ones: Policyholders deserve as much warning as possible that their insurance may be on the rocks.
Thank the left-wingers in Congress and the Obama White House who concocted this scheme back in 2010 for this mess.
Abhorring for-profit insurance companies, they insisted that the Affordable Care Act establish nonprofit insurance cooperatives to compete with big players like Aetna and Humana.
Preposterously, the Obama administration specified that the co-ops be run by novices with no history of ties to the insurance industry. As if measuring risk and pricing policies is something that requires no expertise.
Obama administration rules also barred the start-ups from spending money on advertising or marketing to make their products known. Why? Because the left has always blamed the high cost of health insurance on ad spending. It was a formula for failure.
A wacky ideological agenda doomed these co-ops from the start.
The New York co-op’s collapse is an especially humiliating defeat for the Freelancers’ Union and Sara Horowitz, its self-proclaimed labor visionary, who has spent years touting the benefits of the collectivist “sharing economy.” But make no mistake: Taxpayers and policyholders nationwide are taking a hit.
All across the country, loans went to Obama cronies from his pre-presidential career as a community activist. During the fall of 2012, as his first term neared its end, Obama shoveled out money to these experimental start-ups.
Remember the outrage over the failed green energy project Solyndra? That only cost taxpayers $500 million — a fifth of what they could be forced to pay for the co-op folly.
The losses are racking up. A co-op in Vermont closed in 2013. Iowa’s CoOpportunity Health collapsed in January, taking $145 million in federal loans with it.
Louisiana’s Health Cooperative shut down in July, after a steady stream of red ink. And in August, Nevada’s co-op announced it will close up by Jan. 1. It had $65.9 million in federal loans on its books.
A July inspector general’s report warns that several remaining co-ops are tottering. Yet the media are almost silent.
That’s especially regrettable: Policyholders should be warned that they may have to switch plans (and doctors) in the future. And the public should get a straight story about how its tax dollars are going up in smoke.
During the wrangling in Congress over Obama’s health law, the co-ops became the consolation prize for lawmakers dreaming of socialist health care, also called a single-payer plan. There’s a lesson here, though some people refuse to accept it.
A Health Republic executive suggested that the co-ops are failing because a “bitterly partisan Congress” provided less funding than they actually needed. No, more funding would have resulted in more taxpayer money down the drain.
When you want to solve a complex problem like increasing access to health care and controlling costs, look to the marketplace, not the ivory-tower wonks and community activists whose hubris is rivaled only by their lack of practical knowledge.
http://nypost.com/2015/09/29/obamacares-latest-victims-100000-new-yorkers-and-taxpayers-everywhere/
Thanks for the insight/opinion Tuckamore. Here in VT we also had an income based insurance program for lower income residents prior to the ACA, I believe it was called Catamount. We also had protection from prior conditions denial etc. written into law prior to the ACA.
My personal experience has not been a bad one with our new healthcare exchange (state run), same doctors, same access (including world class Dartmouth Hitchcock), same 8% +/- annual premium increases. A bit higher copays perhaps. We still only have 2 insurance companies to chose from, MVP & BCBS and are required to sign up for health insurance via the state exchange, can't purchase direct as an individual.
Being the whacko liberal/progressive state that we are (think Bernie) there was a huge push for a state single-payer system by our democratic controlled state government and *** kissing governor, until he found out what it would cost.
We have and have had prior to the ACA a large portion of our residents covered by health plans.
They have royally screwed up building the exchange and managing the IT contractors, estimates are $200mm by the time it's done(fed $'s paying for it) and maybe $50mm annually to run it. Mind you we only have 630K residents in the whole state (G).
I'm rambling, anyhow thanks again for the input
My personal experience has not been a bad one with our new healthcare exchange (state run), same doctors, same access (including world class Dartmouth Hitchcock), same 8% +/- annual premium increases. A bit higher copays perhaps. We still only have 2 insurance companies to chose from, MVP & BCBS and are required to sign up for health insurance via the state exchange, can't purchase direct as an individual.
Being the whacko liberal/progressive state that we are (think Bernie) there was a huge push for a state single-payer system by our democratic controlled state government and *** kissing governor, until he found out what it would cost.
We have and have had prior to the ACA a large portion of our residents covered by health plans.
They have royally screwed up building the exchange and managing the IT contractors, estimates are $200mm by the time it's done(fed $'s paying for it) and maybe $50mm annually to run it. Mind you we only have 630K residents in the whole state (G).
I'm rambling, anyhow thanks again for the input
"That plan should have the Government begin to withdraw from health care. They can't run the country how the he!! do they think they can run health care?"
Bravo, Tuckamore... You said a mouthful there!!
Bravo, Tuckamore... You said a mouthful there!!
I'm not a politician, don't want to be and don't claim to be. I did not write my own plan for Health Care in the USA.
The government did well when they said insurance companies could not discriminate based on preexisting conditions. Sadly that didn't mean that those ppl could afford private health insurance but it did help some.
WI had a state insurance program called BadgerCare. It was based on income - it was not Medicaid though obviously there is Medicaid to those that need it and qualify.
On BadgerCare some residents paid $100 - $200 per month - others paid $500 - $1,000 or more. It wasn't a freebie. It may have had a few similarities to ObamaCare. However residents were allowed to chose their insurance carriers through their employers or privately. There were options for all residents.
BadgerCare didn't dictate what private insurance carriers must offer. There was much more freedom of choice and less governmental interference. I saw it as between ObamaCare and nothing. I was never on the program.
A bit of background on myself. As a former Corporate HR Director and Benefit Administrator I saw a variety of health care pay plans in action. I began my career in the medical field where many of my family and friends remain - due to this I always felt I had a multi-view of the health care pay industry.
My medical colleagues were enraged when ObamaCare became law. My employer and the multiple insurance carriers we offered felt the similar rage. Predictions came true - ppl lost their private coverage - many were forced to take coverage they did not want - regardless of ability to pay. Continuity of care is very important to most ppl and to good health.
Ppl lost long time Physicians, Clinics and Hospitals that they utilized for years. ObamaCare changes forced those changes. Forced - No Choice. Where in America is this right?
I haven't even gotten into the personal costs and taxpayer costs of this ObamaCare. I didn't major in politics or economics - that's not my strengths but I do have eyes and ears.
Do I have a proposal? No! Was our system before ObamaCare perfect? No! There was and still is a better plan. I don't have to come up with it but I do expect a smart elected official to develop one. It should be entitled Choice! Choice!
That plan should have the Government begin to withdraw from health care. They can't run the country how the he!! do they think they can run health care?
The government did well when they said insurance companies could not discriminate based on preexisting conditions. Sadly that didn't mean that those ppl could afford private health insurance but it did help some.
WI had a state insurance program called BadgerCare. It was based on income - it was not Medicaid though obviously there is Medicaid to those that need it and qualify.
On BadgerCare some residents paid $100 - $200 per month - others paid $500 - $1,000 or more. It wasn't a freebie. It may have had a few similarities to ObamaCare. However residents were allowed to chose their insurance carriers through their employers or privately. There were options for all residents.
BadgerCare didn't dictate what private insurance carriers must offer. There was much more freedom of choice and less governmental interference. I saw it as between ObamaCare and nothing. I was never on the program.
A bit of background on myself. As a former Corporate HR Director and Benefit Administrator I saw a variety of health care pay plans in action. I began my career in the medical field where many of my family and friends remain - due to this I always felt I had a multi-view of the health care pay industry.
My medical colleagues were enraged when ObamaCare became law. My employer and the multiple insurance carriers we offered felt the similar rage. Predictions came true - ppl lost their private coverage - many were forced to take coverage they did not want - regardless of ability to pay. Continuity of care is very important to most ppl and to good health.
Ppl lost long time Physicians, Clinics and Hospitals that they utilized for years. ObamaCare changes forced those changes. Forced - No Choice. Where in America is this right?
I haven't even gotten into the personal costs and taxpayer costs of this ObamaCare. I didn't major in politics or economics - that's not my strengths but I do have eyes and ears.
Do I have a proposal? No! Was our system before ObamaCare perfect? No! There was and still is a better plan. I don't have to come up with it but I do expect a smart elected official to develop one. It should be entitled Choice! Choice!
That plan should have the Government begin to withdraw from health care. They can't run the country how the he!! do they think they can run health care?
"that said there were far better choices than ObamaCare" Do tell. Surely not single payer.
For the most part history will reveal that when we get the government in charge of anything the results are disastrous! Not only can you look at Medicare - take a look at Social Security! Both programs would be in a much better position and by all reports, solvent had the Government not borrowed funds they never repaid - or diverted funds.
An often over looked fact is that Medicare covers many more ppl than our seniors. It also covers those that are deemed disabled from mental illness, lost limbs to drug and alcohol addiction!
How much does a Governor, Senator or other such member of our government actually know about the health care delivery system? I'd bet it's close to zero! Did they consult the health care ppl that are in the front lines from nurses to doctors to hospitals and administrators? No! They thought they knew better.
Our health care delivery system had major issues long before the government became involved - that said there were far better choices than ObamaCare. It caused more problems than it solved. The medical community knew that before ObamaCare even went into effect. No one would listen.
These subjects are a real sore spot for me! I could say more but y'all get my drift!
An often over looked fact is that Medicare covers many more ppl than our seniors. It also covers those that are deemed disabled from mental illness, lost limbs to drug and alcohol addiction!
How much does a Governor, Senator or other such member of our government actually know about the health care delivery system? I'd bet it's close to zero! Did they consult the health care ppl that are in the front lines from nurses to doctors to hospitals and administrators? No! They thought they knew better.
Our health care delivery system had major issues long before the government became involved - that said there were far better choices than ObamaCare. It caused more problems than it solved. The medical community knew that before ObamaCare even went into effect. No one would listen.
These subjects are a real sore spot for me! I could say more but y'all get my drift!
Putting the government in charge would have been even worse... They can't handle Medicare for the elderly; how could they handle insurance for every man, woman and child in the country?
Personally, I thought putting the insurance companies in charge was a horrible decision.
All I can say is that it sure seems that if you have healthcare from a traditional source such as your company, people are paying much more and getting far less. And every year it gets worse. And folks losing health care in the above article?
Really think there could have been a better plan. I don't know what it could be but Obamacare seems like it just isn't working.
Really think there could have been a better plan. I don't know what it could be but Obamacare seems like it just isn't working.
But it's totally worth all of these people losing their health insurance, because the "other people" (ie: people of Obama's choosing) have access to healthcare now.
Our Community Activist in Chief has done it again. What a genius! He wanted to cement a legacy. He certainly has done that, I'd say. A legacy of crappy programs that do more harm than good.
He'll go down in history as the greatest president ever, I dare say. The revisionist history writers are already hard at work, rewriting everything he's done since entering office in 2008, to make it look like he's actually done some good while in office.
They certainly have their work cut out for them, that's for sure.
You're the idiots who voted for him, so don't blame me.
Our Community Activist in Chief has done it again. What a genius! He wanted to cement a legacy. He certainly has done that, I'd say. A legacy of crappy programs that do more harm than good.
He'll go down in history as the greatest president ever, I dare say. The revisionist history writers are already hard at work, rewriting everything he's done since entering office in 2008, to make it look like he's actually done some good while in office.
They certainly have their work cut out for them, that's for sure.
You're the idiots who voted for him, so don't blame me.
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