Insurance companies began having multiple orgasms at the very thought of 50 million new customers being forced at gunpoint to buy their product. I ABSOLUTELY pin a share of the blame on them.
Why did you think we weren’t seeing those Harry and Louise ads this time?
Me too. They drank the cool-aid, disrobed and crawled in bed with the beast. Stock prices notwithstanding, health insurance companies are NOT making more money off of Obamacare, yet. But they have already seen that their expectations (and reason for orgasms) were exactly wrong, hence the dramatic increase in premiums. Obama's problem now is and will be explaining why all these insurance companies are "allowed" to increase their rates. The beast is about to turn on them. After all this hub-bub about Obamacare is replaced in the media cycle, they'll start pressing legislation on price control of premiums.... wait, never mind. Obamacare gives them that power now.
The old "risk based" insurance model won't work for them now so they have to raise rates to the riskiest end of the spectrum. They no longer get to decide who they insure and for what price for that portion of the business that was to provide these 50 million new customers.
I am not defending the insurance companies. They made their bed. But it WILL be the fed that either 1) Bails them out or 2) Forces their demise.
Elections and bad decisions both have consequences.