Wednesday, November 04, 2015

The Problem with Obamacare

Amidst all the saber rattling about whether Obamacare is good or not, this simple example illustrates why
health insurance carriers are losing money and leaving the market.
Lisa Patton turns 26 years old this month. That means, she will lose coverage under her parents health insurance. But she doesn't want to pay up to $250 a month for a plan under Obamacare.
"Being a graduate student and living in D.C., and kind of barely making ends meet now, it's just hard to factor in the cost of an extra bill," she said. - CBS News
I got news for you dear. The $700 penalty is nothing compared to having to come up with money to pay off medical bills of several thousand dollars.

Ocare was supposed to eliminate medical bankruptcy. At least that was the campaign promised.

Then there is this.
"I've had Obamacare insurance now for two years and it did go up the second year," said Dawn Erin an actress and singer living in Texas.
Erin said Obamacare made her Hepatitis C medication affordable.
"Total cost of that medication was approximately $70,000. And my co-pay was 5 bucks," she said.

OK, in case you missed it, the healthy people are not buying coverage, but the sick ones are.

Houston, we have a problem.

Obamacare insurance carriers are burning money faster than DC can print it and hand it out to the "less fortunate"

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