Obama still pretending that repealing ObamaCare would benefit insurance companies
But the president’s Big Corporations Vs. Little Folks narrative doesn’t stand up to much scrutiny. The health insurance rebates, for example, may actually be making health care more expensive overall, and because many of those rebates are sent to employers, many individuals won’t see the rebates directly.
Regardless, the $1 billion in rebates customers stand to lose doesn’t come close to what the health insurance industry has on the line. According to a Bloomberg Government study from May, insurers stand to lose $1 trillion in revenue if the law is repealed…
It’s not just health insurers. Most of the health systems biggest and most powerful industries are betting on the la to boost their bottom line. The drug industry cut a deal with the White House to health finance the promotion of the health law.
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Someone needs to tell the public (and especially the press) that crony capitalism is not the same thing as free market capitalism.
besser tot als rot on October 8, 2012 at 2:46 PM
If that were true perhaps he will explain why health insurance firms spent so much money lobbying for it.
WeekendAtBernankes on October 8, 2012 at 2:48 PM
The Pretender in Chief is always a Liar and a Pretender, while always a Destroyer.
Schadenfreude on October 8, 2012 at 2:57 PM
Guess that is why aarp got all bent out of shape when bho mentioned them in the debate?
I just wish people would come out and say it when they write anything about bho, bho and his whole blooming team lies and lies big time on everything!
L
letget on October 8, 2012 at 2:58 PM
Why ANYONE wants to have the government in control of their healthcare, is BEYOND me.
Especially in the form that this monster was created.
KMC1 on October 8, 2012 at 2:59 PM
In fairness, the health ins. co. I worked at as an intern this summer does not want the law to be in place. There are too many onerous regulations and pricing restrictions that make selling a product that people will be able to afford very difficult, especially if you actually want to make a profit. So, let’s not treat this law as a great thing for health insurers. It isn’t.
drewwerd on October 8, 2012 at 3:00 PM
A plan for a family of 4 is now over $1200 a month with a $5,000 deductible. But it doesn’t matter to leeches like Kinta Kintard.
jawkneemusic on October 8, 2012 at 3:00 PM
It is for the big insurers. They love it. They lobbied for it.
lorien1973 on October 8, 2012 at 3:03 PM
I meant all health insurers. You are right. The co. I worked for is shifting to non-health insurance products because of this.
drewwerd on October 8, 2012 at 3:06 PM
Including AARP. Profit before members at the AARP. Which is fine, if that’s what they want to do, but let’s not turn around and pretend that the AARP has its members’ best interests at heart.
besser tot als rot on October 8, 2012 at 3:09 PM
One of the jobs of big government in a crony capitalism model is to make sure that new and small companies are kept in a non-competitive position relative to the established, big companies so that the market is essentially closed to competition (and innovation/improvement).
besser tot als rot on October 8, 2012 at 3:12 PM
Before Obamacare passed, Obama gave several speeches in which he said that if it passed, the average American family’s health insurance premiums would go down by $2,500.
Since Obamacare passed, the average American family’s health insurance premiums have gone UP by over $2,700 (according to a Kaiser Foundation study released last week).
But remember, it’s Romney who “lies.”
AZCoyote on October 8, 2012 at 3:19 PM
Oh yes, I’m the great pretender
Pretending I’m doing well
My need is such
I pretend too much
I’m lonely but no one can tell
Oh yes, I’m the great pretender
Adrift in a world of my own
I play the game but to my real shame
You’ve left me to dream all alone
Too real is this feeling of make-believe
Too real when I feel what my heart can’t conceal
Oh yes, I’m the great pretender
Just laughing and gay like a clown
I seem to be what I’m not you see
I’m wearing my heart like a crown
Too real when i feel what my heart can’t conceal
Oh yes, I’m the great pretender
Just laughing and gay like a clown
I seem to be what I’m not you see
I’m wearing my heart like a crown
Pretending that you’re…
Pretending that you’re still around
BobMbx on October 8, 2012 at 3:20 PM
That’s a perfect response for Romney or Ryan to make if the subject arises in future debates. I got the sense that Obama really thought he had Romney on the big-bad-insurance-company discussion.
I hope the R2 campaign has someone reading Hot Air for its posts and comments.
The other thing Obama mentioned was the supposed “efficiency” of Medicare in comparison to insurance companies. I read last week that Medicare’s much-ballyhooed efficiency is a mirage. For example, Medicare relies on other agencies for as much as half of its administrative costs.
R2 need to know that kind of thing and kick Obama or Biden or both in the groin with it when those clowns try to score debate points with that lie.
BuckeyeSam on October 8, 2012 at 3:21 PM
I’m one of those individuals who received a rebate directly. (Buy my own individual policy from a large blue insurer). My premiums increased by more than $800 last year. Guess how big my rebate was?
If you guessed $62, you win! That means Obamacare “saved” me around
(-)$738 last year. Can’t wait to see how much I’ll “save” in 2014, when all the big-ticket Obamacare mandates (e.g., guaranteed issue, no lifetime caps, etc.) become effective.
Between all the “savings” on health care insurance, and the “savings” on energy prices that we all have thanks to Obama, I’m about to go broke!
AZCoyote on October 8, 2012 at 3:34 PM
Heaven forbid evil insurance companies would benefit from anything.
The Rogue Tomato on October 8, 2012 at 3:36 PM
davidk on October 8, 2012 at 3:46 PM
Krugsmania hardest hit.
slickwillie2001 on October 8, 2012 at 4:00 PM
That was the point of Obysmalcare: It was planned to make insurance companies the evil ones by inflating their costs via these “onerous regulations and pricing restrictions.” Then, voila, government-issued single-payer insurance would drive these private enterprises out of business and be the only game in town.
onlineanalyst on October 8, 2012 at 4:02 PM
The big insurers are not going away. The smart ones are positioning themselves through acquisitions, restructuring, and lobbying to make sure they survive and thrive whether or not Obamacare is repealed or replaced.
I predict that if/when private insurers are driven out of business, they will be declared “too big to fail”. After all, who do you think will administer the govt single payer coverage? Someone who already has the resources and ability.
fortcoins on October 8, 2012 at 4:12 PM
Actually, it would help them in the long run because Obamacare is going to set off the insurance death spiral. And Obamacare itself has driven the smaller insurers out of the health market. (Thanks for nothing, CIGNA, United, Kaiser and AARP.)
obladioblada on October 8, 2012 at 4:19 PM
I don’t think they’ll be bailed out, the Dems want them to fail and “forcing” the country into a federal plan administered by SEIU members.
obladioblada on October 8, 2012 at 4:21 PM
The same insurance companies that helped write the legislation that no one read?
RoadRunner on October 8, 2012 at 4:38 PM
Good point. The unions would be first in line for any govt administered positions. I hope it doesn’t get that far.
fortcoins on October 8, 2012 at 5:05 PM
obamacare is not health care.
obamacare is not even technically traditional insurance.traditional insurance is based on risk. health insurance has been slithering away from this for quite some time.
health “insurance” and health “care” have been dragged away from a free market model for some time. it’s part of why health services are so expensive.
people are forced by law, having their rights under the Constitution voided by congress, POTUS and then the Supreme court- and it was all to keep the mandate which even liberals who want government health care period agree is a sop to the big insurance companies to play the game until everything collapses on itself. because it will- collapse on itself as it was meant to.
insurance companies have already closed. companies will be jettisoning insurance for employees. companies are closing period and moving due to the regulations and taxes associated with obamacare.
not being honest about what exactly is going on here and what exactly is the state of health insurance, health care and government regulation has always been the problem with romneycare and obamacare. and by the time the irreversible damage is done- by design- and it is understood- too late. no insurance companies left save some huge monolith that f’d every other company… and liberals will be whining about big business destroying healthcare…
mittens on October 8, 2012 at 5:44 PM