. . . . . . . . . . . . . [Illustration by John Ueland, Thx to online.wsj.com] . . . . . . .
Today, we call your attention to the following companies mentioned in a two-year old article on the effect of Obamacare on health insurance companies identified by a Bloomberg business analysis: UnitedHealth Group (UNH), WellPoint (WLP), Aetna (AET), Humana (HUM), and Cigna (CI).
The story headline was: Report: Health Insurance Profits Rise Despite Health Care Reform
The law’s detractors […] have argued that the 2010 health care legislation put the United States on the road to socialized medicine. [They] have described the law as a “government takeover of health care,” but the Bloomberg report suggests the opposite: Since the law was passed, private insurers have become more and more involved in managing public health insurance programs.
What the reporter neglected to mention was that most of the actual law had not kicked in at the time she was writing the story. Plus, it wasn’t clear to her or to Bloomberg analysts how Obamacare’s individual mandate would affect them. Plus, what part of becoming “involved in managing public health insurance programs” is not socialized medicine?
So, they report wonderful profits for the companies with scarcely a caveat. We read many publications from around the U.S. and haven’t found a single state successful at doing their own “marketplace” health insurance selection website.
Here’s a more recent assessment of the business landscape by a writer for Forbes magazine: Extending Obamacare Signup May Cut Insurer Profits. Some people will be surprised. IFO won’t be.
The report quoted in the Forbes article was a summary of one published by Fitch Ratings.
“Extending the enrollment period for Americans seeking health coverage under the Patient Protection and Affordable Care Act could cause pricing and logistical implications for U.S. health insurers, according to Fitch Ratings. We believe an extension would be a negative for health insurers.”
National reporters are too Important and Busy to look at the little guys and besides, they hear that state sites are doing well. Only closer inspection reveals the warts on those hogs. IFO thinks that all the website developers were afraid to mention that the Emperor’s clothes were going to be a bit skimpy for the foreseeable future.
What these commentators don’t know, or are ignoring, is the fact that the real plan for Obamacare is to have a complete federal takeover of American health care.
Not health care insurance, though it may well be called that just as Medicare is called insurance, even thought it is one plan run by the government. No middlemen. Maybe even the doctors and nurses will be government employees.
Single payer, anyone? That’s when the inevitable shortages of E.V.E.R.Y.T.H.I.N.G. will kick in. Have you ever heard a school district spokesman claim that his/her district had all the money, materials, teachers and modern buildings they needed?
Remember, G-vt operations depend on need for empire-building purposes and shortages for extorting from taxpayers.
It seems that a legend, or fairy tale, or folk saying is called for here, but we can’t think what. Something involving foxes and hen houses, or frogs and a pot of water?