Posted on 01/22/2016 6:53:33 AM PST by artichokegrower
California's four largest health plans may be on the hook for $10 billion in state back taxes -- and at least $1 billion every year going forward -- if a closely watched legal case does not break their way.
(Excerpt) Read more at mercurynews.com ...
$10 billion from the California private sector transferred to the public sector. The makers in California will have to pay higher health care premiums so that the 12.5 million takers on Medi-Cal (Meidicaid) can continue to get their free health care.
I can’t imagine how much higher my premiums can go before I just decide to chuck it all.
Businesses don't pay taxes. Customers do. So if the plans must pay the taxes it will be passed on to the consumers. Guaranteed. For certain. Worry implies some degree of uncertainty. There is no uncertainty here. So there is no reason to worry.
California has for health plans? Who knew?
Socialism: Where someone produces without receiving and someone receives without producing, and they both learn the same lesson: it doesn’t pay to produce, but it pays to be politically connected. So, the country gets fewer makers, less wealth, more takers and strident politics as more takers mobilize and fight over dwindling goods.
If you’re a producer - light out for Texas.
$4B?...Putting CA’s projected debt at what then, $397B?
NO PROBLEM. They will show losses and get approval to double their rates. It’s all in the plan.
Forsee a big demand for Shamans and Witch Doctors in California.
Excellent summary!
That’s ok. Just transfer that back on to the lib Hollyweirdos since they demanded the state take on health care.
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