If one could say there was any good news at all about the ObamaCare fiasco, it is the feeling of being right because you knew in your heart socialized medicine is wrong for America.
It is literally falling apart at the seams.
Barely half of the number of people signed up for coverage as expected, and now the co-op program is in trouble.
The co-op program was developed to create competition and healthcare choices in areas where none existed, but has failed miserably, leaving thousands in the lurch.
Medicare and Medicaid Services had awarded 23 co-ops with $2.4 billion in taxpayer start-up money to help the nonprofit insurance companies get off the ground.
More than half have failed already.
Fourteen co-ops, who received $1.5 billion in taxpayer funding, have collapsed and two more are expected to close soon.
The final nail in the coffin for Connecticut’s HealthyCT co-op was when the Department of Health and Human Services asked the already unstable co-op to pay $13.4 million into the “risk adjustment program” to redistribute money from insurers with healthy customers to insurers with sicker, more costly consumers.
The co-op couldn’t come up with the funds for this “redistribution of wealth”, so it became the 14th to close its doors.
Two more are expected to go up in smoke soon.
Maryland’s Evergreen Health Cooperative has been asked to pay $24 million, approximately 30 percent of what the nonprofit insurer made in revenue from premiums.
The co-op filed a lawsuit against the Department of Health and Human Services and Centers for Medicare and Medicaid Services over the risk adjustment program, saying that the calculation used for risk payments gives larger insurance companies with deeper pockets an advantage over smaller insurance companies.
Illinois’ co-op, Land of Lincoln Health, was asked to make a $31.8 million payment to the risk adjustment program, but the agency has announced it is withholding making its payment in order to “preserve the solvency” of the co-op and prevent it from having to close its doors.
Socialist programs that require a redistribution of wealth do not work. They are inherently flawed.
Socialized medicine is un-American, and yet Obama and his friends won’t let it go.
Presumptive democratic presidential nominee Hillary Clinton is still on board with this disastrous program.
From her campaign website:
- Defend the Affordable Care Act and build on it to slow the growth of out-of-pocket costs.
Both refuse to protect American ideals, and both continue to push the nation down a dark path.
While the good news is ObamaCare is falling apart; the bad news is the program is such a tangled mess that it could take generations from which to recover.