More phony Obamacare hype
If you only read the headlines you would think that Obamacare was in great shape.
Here's a few examples:
Surge in ObamaCare signups surprises experts
Obamacare is thriving despite GOP attempts to kill it
What reason is there for this hype?
Two weeks in, numbers released by the Centers for Medicaid and Medicare Services show 2018 open enrollment signups are up 40 percent over last year.
Well, that's impressive!
Or is it?
The Hill's reporter correctly notes that "the pace of sign-ups has exceeded last year: In the first 26 days of last year's open enrollment period, 2.1 million people signed up compared to the 2.3 million people who signed up the first 18 days of this year's period."
...Surely that is evidence of strong enrollment, no?
The reason it is not is buried at the tail-end of the story where the reporter notes "the enrollment period ends Dec. 15, which is about half as much time as people had to sign up last year."
Yipes! If enrollees have only half the time to sign up, then by pure arithmetic, the daily enrollment pace needs to be double last year's in order for total enrollment at the end of the enrollment period to match the level reach at the end of last year's enrollment period
If you keep reading these stories you'll find that a majority of people signing up for Obamacare are getting mostly or totally subsidized by the taxpayer.
Which can be a good thing...unless this happens.
Expansion of Medicaid under the Affordable Care Act has been wildly successful in improving the fortunes of one particular group in California — just not the group Medicaid was intended to help.
A recent Kaiser Health News story reported that from 2014 (when the state expanded its Medicaid program under Obamacare) to 2016, Medicaid insurers made $5.4 billion in profits. During this same period, the massive expansion of Medi-Cal (the state’s Medicaid program) saw its enrollment grow to one out of every three California residents. Some California Medicaid insurers’ profit margins increased by 200 to 300 percent after the expansion.
... In 2013, before expansion, Medicaid managed-care profits totaled $1.1 billion in 34 states and the District of Columbia. In 2015, one year after expansion, that number had more than tripled to $3.9 billion.
And that's the reason why Obamacare sucks and needs to be replaced by Medicare For All.
I don't mind paying taxes for poor people getting health care, but I have a BIG problem paying taxes for bigger CEO bonuses and corporate dividends.
On the other hand, this huge corporate giveaway certainly explains why a) Democrats love Obamacare, and b) the news media supports Obamacare.
To give you a good comparison, take a peek at what unsubsidized Obamacare looks like.
A separate analysis from Obamacare.net examined the national average monthly premium for a single, unsubsidized, 30-year-old nonsmoker in 2018 and came up with the following figures:
Bronze plan: $379 a month ($4,548 annually)
Silver plan: $478 a month ($5,736 annually)
Gold plan: $545 a month ($6,540 annually)
Platinum plan: $682 a month ($8,184 annually)
Based on the above, even a bronze plan would be practically unaffordable for most middle-class individuals and families in the upcoming year. In total, bronze plan premiums are rising by nearly 22%, silver plans by more than 30%, gold plans by 17%, and platinum plans by 23%. Around four out of five enrollees typically choose a silver or bronze plan.
Somewhere along the way Obamacare, a Heritage Foundation idea, became a "leftist" program. Only by rejecting Obamacare can progressives bring the debate back to reality.