Will the Obamacare disaster never end?

More bad news – it never stops. Lies, mistakes, lies, glitches. Also, remember the state sites? News reports said they were working just fine, though IFO doesn’t recall any specific states being cited. She does know that CoverOregon, the Oregon healthcare website isn’t working.

We read somewhere that the Washington site was working beautifully. But no. Read that article VERY carefully and you will understand this  devastating report from CNN:

Some people won’t feel sorry for this woman. She voted for Obama and she supports the ACA, which IFO suspects she thought would mean free insurance. Who wouldn’t support free? But when your life has disintegrated to the level that this woman has reached, it’s hard to think clearly, or process complex ideas at all.

We do feel sorry for her. We just hope she never votes ever again.

And in other bad news, the federal website won’t be working properly by Nov. 30, 2013, the administration’s latest drop-dead deadline date. It’s hard to keep up with this rolling disaster. Imagine the poor White House spinmeisters!

Investment lesson: watch out for who will be hurt by this bad news. Recall that drug companies were expecting a big win. Health care insurance companies, too. Just sayin’

Lesson number two (pun intended): G-vt never gets anything right in the long run, sometimes in the short term as well. Any company that does a substantial amount of  business with any government agency should be scrutinized extra-carefully before you decide whether to purchase shares.


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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2 Responses to Will the Obamacare disaster never end?

  1. Just so you understand the various angles I approached this Jessica Sanford story from, I live in WA, work as a medical imaging tech in an urgent care, and am married to a retired five-time Emmy winning TV news writer. IMO, CNN, Fox and other outlets intentionally misrepresented one person’s frustrating experience to make it appear typical of what is going on in this state, or in the nation.

    1. Every other news outlet ported over this story from where it originated. CNN did NOT have an exclusive on it, so the on-air anchor is flat-out lying about that. In the case of the CNN clip you embedded, that’s two full days after Erik Smith of Washington State Wire wrote it. Here’s the original, full article:
    2. Once you read the original article, you can see the story is really about how WA state at first sent monthly income figures for verification to healthcare.gov, when healthcare.gov was only set up to interpret them as annual income figures. As a result, 8,000 people (including Sanford) were mistakenly informed that they qualified for big subsidies.
    3. Assuming the original article’s facts are correct, Sanford makes $49k/yr. Her son therefore can’t qualify for Medicaid because she’s at 316% of the poverty level baseline in the law. However, also in the law is a cap of 9.5% of income out-of-pocket for coverage.
    4. No thinking adult should rely on the word of one insurer (Premera) alone. There are still bad actors in this new market, and a lot of bait-and-switch, like “We’ll have to cancel you unless you enroll immediately in this new, more expensive policy.”
    5. If Sanford had used an in-person navigator, which in WA are in every county seat, instead of wasting time on web sites everyone knows are still “buggy”, she might have avoided the emotional roller coaster. Her max out-of-pocket cost for a silver plan covering her and her son is $4,655/year.
    Here’s a link to one of the free subsidy calculators, to back that up:

    Now, I’m not excusing the feds for making the ACA plan comparison and enrollment harder than it ought to be, nor WA state for initially mistakenly getting people’s hopes of REALLY CHEAP INSURANCE up. But I think you can see this story doesn’t hold up as being an exemplar of horror.
    Jessica Sanford will do better under this law than she had before. Of course once she does, no one will report it 😉

    • Thank you so much for this excellent addition to my original post! “Porting” stories over from the original authors happens to be one of my pet peeves in news coverage today. Thank you also for the links to better information.

      You are quite right about people expecting REALLY CHEAP insurance. In my day job, I talked to an insurance agent who said people expected it to be FREE. However, from what I can see from here, I believe this story is a good example of what is going on throughout the nation.

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