Posted on 08/19/2024 10:05:23 AM PDT by MtnClimber
Obamacare is a great example of how successful Democrats are when they pass laws that they falsely told the public would reduce health insurance prices by $2,500 per family.
The Affordable Care Act of 2010 was a 2,000-page monstrosity with thousands of pages of additional pages of new regulations and many new taxes. Any person with a brain would have known that the bill would cause price increases, not decreases, but no one was allowed to see the bill as passed.
The first thing it did was take away freedom of choice. It forced people and businesses to buy a Cadillac instead of a Ford or Toyota type of insurance. People weren't allowed to buy cheaper policies. The government dictated what people and businesses had to buy. Insurance companies had a captive audience.
Then it said that insurance companies had to spend 80% to 85% of premiums on care because they thought profits were too high.
See this here, from the government itself:
The 80/20 Rule generally requires insurance companies to spend at least 80% of the money they take in from premiums on health care costs and quality improvement activities. The other 20% can go to administrative, overhead, and marketing costs.
The 80/20 rule is sometimes known as Medical Loss Ratio, or MLR. If an insurance company uses 80 cents out of every premium dollar to pay for your medical claims and activities that improve the quality of care, the company has a Medical Loss Ratio of 80%.
Insurance companies selling to large groups (usually more than 50 employees) must spend at least 85% of premiums on care and quality improvement.
This greatly reduced competition because small- and medium-sized health insurance companies didn't have enough gross premiums to still cover overhead and make a profit, so they dropped out.
(Excerpt) Read more at americanthinker.com ...
Look who exempted themselves from Zer0 Care.
Why has no one, not on line or in broadcast media not reported on the part of her speech where Harris says, “To regulate drug prices, I/we will STEAL the patents from the Pharmaceutical companies and set fair prices.”
What more can be said to show her lust for pure communism?
Even if you can afford the premiums of horrible OBamacare good luck finding a doctor. I needed to see a doctor and not a single place within a 3 hour drive was accepting new patients. So I even called specialists and said I’d pay cash. Any appointments were 6 months out. I can’t help but think there are a hell of a lot of illegals being pushed to the front of the line.
None of this matters to the emotional left. To them, anyone is better than Trump. We are going to have to fight them.
80 to payouts, 20 to costs of doing business. Where’s the excess profit they always bitch about?
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