Free Republic

In early 2009, health insurance companies struck a Faustian bargain with the Obama administration. In exchange for a law requiring Americans to purchase health insurance, they agreed to regulations requiring them to offer coverage to all comers regardless of preexisting illnesses. Now that ObamaCare is law, insurers are learning that they may have sold their souls to the Devil -- along with the lives of the American people. At first glance, ObamaCare might seem a good deal for insurance companies by guaranteeing them a market for their services. But this guaranteed market comes at a steep price, with the government...

The core of the governor’s socialized medicine proposal is a mandate that every Californian MUST carry health insurance and that every insurance company MUST cover anyone who applies, regardless of pre-existing medical conditions. It’s called “guaranteed issue,” and it sounds too good to be true. That’s because it is. But if you are guaranteed health insurance AFTER you get sick, why would you pay for it when you are healthy? The governor’s advocates say that’s not a problem, since everybody will be required to carry health insurance, thus spreading the risk. Wait a minute. We already have a law that...