Brace For Impact… Here It Comes! (ObamaCare ALREADY Detonating)
October 26, 2013 // By: Karl Denninger // Today's News // 6 Comments
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This is (thus far) anecdotal, but if it plays out anywhere near what I’m hearing reports of this law is done and so is the Federal and State budget process.
Specifically, I am hearing that of the (few) people who have managed to actually (1) create an account on the federal health care system exchanges and (2) go through the process nearly all of them are winding up referred to Medicaid. What’s nearly all? There are reports that it is in the 90% range in many if not most area!
Got that? Almost none of the so-called “enrollees” are actually paying customers.
What’s worse is the rest of the screwjob that is being foisted off on those who do look at the plans — there is further (anecdotal, again, as this information is extremely hard to find) evidence developing that the “in-network” lists — that is, which doctors and hospitals are “accepted” by these plans are effectively identical to the choice that Medicaid patients have – in other words, half or more of the medical facilities and physicians, including probably your current doctor, will not accept these plans.
I was utterly unable to find, without registering, exactly what was “in-network” in this area among the “plans” offered for this county. Of course I have not provided any personal information, but this is one of the key shopping points for people who are buying “health insurance” –they want to know where they can use it!
Between these two points calling this a “revolution” in health care may be rather correct but not in the way that Pelosi, Reid and Obama intended. Rather it may cause quite the other sort of revolution for two reasons:
•It appears that it is going to instantly detonate State and Federal budgets, even among those states that did not “expand” Medicaid (many states rejected that attempted expansion) because it is going to flood the existing system with new enrollees, many of whom will immediately use their “free” services.
and
•There are effectively zero young, healthy (“millennial”) enrollees among those who are signing up and paying. As I expected and predicted only the truly and catastrophically sick have put up with the crap required to actually go through the process. These people are going to immediately and irrevocably consume dramatically more health care cost than they pay in premium.
In short there is effectively nobody signing up who is going to be a net payer of premium into the system from a statistical point of view.
The inbound tsunami that is going to come ashore in both Federal and State budgets, not to mention the outrageous premium ramps that will appear in Year #2 for Obamacare if enrollment continues to look anything like it is today will detonate our economy.
Obama and the Democrats cannot blame this one on the Republicans — or George Bush. They own this crapfest; it is now apparent that a classmate of Michelle Obama is an executive at the company given the no-bid $675 million contract to build the non-working federal exchange that is largely responsible for this cluster****.
So we have Solyndra in Health Care, an utter and complete waste of money, but unlike Solyndra which was just a siphon of good funds to cronies of the President this is far worse because it has stomped into the ground what little capitalism remained in the health care sector.
There is only one way to fix this crap — repeal Obamacare immediately and in the same legislative act pull all of the monopoly protections in the health system by (1) making CON laws or any other machination that restrains trade per-se unlawful and violations of The Sherman Act, (2) repealing any other law giving similar “protections” to other parts of the health and insurance industry.
We can fix the health system and its explosive cost for Americans any time we are willing to demand it. But you cannot get there from here by demanding that one person be robbed to pay for another person’s doctor or pharmacy bill. You can only get there by allowing the market to work, and this means ending all means of legalized extortion and theft in the medical system that exist today.
It starts with level, open billing and price lists for each device and procedure, posted prominently by each medical care provider in clear English where you can see it before services are performed and where each person pays the same thing for the same procedure in a given facility or performed by a given person. It continues with vigorous enforcement of the Sherman and Clayton acts against companies, whether insurance, good or service-providing in the sector, who act to restrain trade such as by enforcement of cross-border price controls that currently cause you to pay 5, 10, or even 4,000% more here for a drug or device than you pay in another state, facility or country. At the same time we must jail those in the industry who engage in force-tied sales and similar tactics; if IBM was prosecuted for trying to tie service contract sales to hardware (and it was) the practice of physicians referring work to facilities they own, or of hospitals buying up all the clinics in a given area, must be treated exactly the same way and draw the same criminal charges.
I have been pounding the table on this since 2009 when “Health Reform” was first proposed. Many have said that I was nuts, and that what Obama proposed and got passed would work and lower costs.
We now are seeing the first pieces of evidence that not only will it not work it will destroy our medical system and both state and federal budgets if it is allowed to continue.
- See more at:
www.libertynews.com/2013/10/brace-for-impact-here-it-comes-obamacare-already-detonating/#sthash.Hjfyb5aL.dpuf
