Tuesday, June 02, 2015

Hey!! RoJo!! Remember Your "Promise"??

Hey, Ron!  Heard you're running again for the Senate. 

Funny--I don't hear you yammering about 'doing everything in my power to repeal ObamaCare' this time around.  But now's the time we need that repeal, Ron.

...Obamacare’s community rating results in insurance prices that are higher for younger people than they would be in a free market, and its guaranteed issue allows people to sign up for insurance even if they get sick, so young and healthy people have ample incentive to forgo insurance. This leaves the insurance “risk pool” older and sicker and, hence, more costly to insure. Premiums will have to rise to cover those costs, leading some of the younger and healthier people who did initially sign up to then drop out. The risk pool then becomes even older and sicker, premiums rise again, and the process repeats.....

Yah, we knew that.  (So did RoJo, IIRC.)

...The “death spiral is bogus” meme has been making the rounds in the liberal media. Rachel Maddow’s blog states that Obamacare critics “were wrong about the ‘death spiral,’” while at the Daily Beast Michael Tomasky calls the death spiral prediction one of the “Five Biggest Lies About ObamaCare.”....

One would hardly expect less from those folks.  But RoJo knows that, too.

....Obamacare exchanges have a mechanism similar to New Jersey’s, known as the “risk corridor.” The risk corridor is a three-year program under which insurers on the exchanges who make a profit are required to share some of those profits with insurers who took losses on the exchanges. .... This program likely checked large premium increases heading in the second year on the exchange....

Yah; it's about a $725 million dollar loss this year.

So what about this "Death Spiral"?

It's beginning.

Suggested rates for 2016 are starting to trickle in, and it appears that the edges of the death spiral are on the horizon.

Oregon, Montana, Tennessee, South Dakota, New Mexico, Maryland......

So RoJo:  how's that "promise" of yours working out?  For US, that is.

We'll wait for your answer, Ron.


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