They KNEW … faulty health exchanges plague states, too

Obamacare rollout = garbage

Here’s a cute story from Vermont that came out late last night: In the final pages of a law enacted in 2012, the Legislature spelled out a safety valve the Shumlin administration could use if the online health insurance marketplace then under development failed to operate as intended when it opened for business in 2013.

Vermont’s new insurance marketplace, like its federal counterpart, had a rocky launch Oct. 1 and remains plagued with glitches. After trying to remain upbeat despite a month of malfunctions, Gov. Peter Shumlin last week invoked the legal safety mechanism…

Marketplace??? No, no, no. A market is a place where willing sellers and willing buyers come together to exchange value for value. I.e. Money for goods or services. It is not a market, if one of the parties to the market transaction is acting under duress. Penalties and fines if the victims, oh, uh, yeah, the “uninsured” don’t sign up.

That article is additional confirmation that govt officials knew LONG before Oct 1 that the Internet effort was going to fail. Why did they refuse to follow Republicans who were asking, then demanding, that the program be stopped, or at least delayed for at least a year, when they knew perfectly well it wasn’t going to work anyway?

And for the disasters yet to come, here’s a brief notice from the Portland Business Journal:

The New York Times reports that “Under the Health Care Act, Millions Eligible for Free Policies.” Up to 7 million people could qualify for the plans but insurers and regulators are reluctant to push them for fear of encouraging people to choose something that may not fit their needs.

Notice the spin. Or, actually, another lie. Regulators are reluctant to push those 7 million to get “free” insurance policies, also known as Medicaid, because regulators actually need some 7 million or was it 11 million, young, healthy victims, oh, uh, yeah, “uninsured” to sign up and pay for actual insurance policies and then stay healthy, so they won’t be making any claims, so said regulators can get Medicaid out of the trash bin of debt they are in right now and bail out any insurance companies foolish enough to be taking part in this profitless boondoggle.

More spin from the same article: a “thoughtful” article by our favorite progressive NYT columnist and Yamhill County native, with a sob story about one man who has colon cancer and “who put off getting medical attention because of lack of insurance and could suffer dire consequences.” This is “why we need Obamacare” the article headlined the story. Barf. Gag.

A program to take care of individual sob stories could easily have paid for this for far less moeny than has already gone out without a single successful case of someone getting and using medical insurance under Obamacare.

This thing really is spinning out of control. Never thought this Pollyanna known as IFO would ever say that.

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About InvestingforOne

I've been investing in various assets by myself using a discount broker for many years. Over that time, I've developed some theories that others might find useful. Plus, there is more to investing than money. Time, talent, work, friends, family all go into developing a good and satisfactory strategy.
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