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O-Care Will Kill More Than Half Of Employer Plans

From Forbes:

Obama Officials In 2010: 93 Million Americans Will Be Unable To Keep Their Health Plans Under Obamacare

By Avik Roy | October 31, 2013

… Obamacare’s disruption of the existing health insurance market—a disruption codified in law, and known to the administration—is only just beginning. And it’s far broader than recent media coverage has implied… And we now know that the administration knew this all along. It turns out that in an obscure report buried in a June 2010 edition of the Federal Register, administration officials predicted massive disruption of the private insurance market…

What a shock.

Lisa Myers and Hanna Rappleye of NBC News, unearthed the [information] in the Federal Register, and cited “four sources deeply involved in the Affordable Care Act” as saying that “50 to 75 percent” of people who buy coverage on their own are likely to receive cancellation notices due to Obamacare…

“The Departments’ mid-range estimate is that 66 percent of small employer plans and 45 percent of large employer plans will relinquish their grandfather status by the end of 2013,” wrote the administration on page 34,552 of the Register. All in all, more than half of employer-sponsored plans will lose their “grandfather status” and become illegal. According to the Congressional Budget Office, 156 million Americans—more than half the population—was covered by employer-sponsored insurance in 2013.

In reality, they will all soon lose their grandfather status. Except for the unions, of course. They got a carve out.

Another 25 million people, according to the CBO, have “nongroup and other” forms of insurance; that is to say, they participate in the market for individually-purchased insurance. In this market, the administration projected that “40 to 67 percent” of individually-purchased plans would lose their Obamacare-sanctioned “grandfather status” and become illegal, solely due to the fact that there is a high turnover of participants and insurance arrangements in this market… The real turnover rate would be higher, because plans can lose their grandfather status for a number of other reasons.

This is the individual market, which we already knew would be destroyed by Obama-Care.

How many people are exposed to these problems? … 51 percent of the employer-based market plus 53.5 percent of the non-group market (the middle of the administration’s range) amounts to 93 million Americans…

At least 93 million.

Once again we make a simple prediction: By January 2nd 2014, more people will be without insurance than there was a year ago before Obamacare began. And most of those who have insurance will be paying more per year on insurance and healthcare than they did last year.

In any case, why did we do Obama-Care again?

This article was posted by Steve on Friday, November 1st, 2013. Comments are currently closed.

3 Responses to “O-Care Will Kill More Than Half Of Employer Plans”

  1. Noyzmakr says:

    In a just world, democrats would never be elected to another federal or statewide office for at least another decade, but we all know that the mindless drones that vote for them will believe any lie they tell.

    When 100 million people lose their health insurance next year, it’ll be the republicans fault. And to a certain degree, I agree with that.

    People like McCain and the rest of the GOP establishment, the cowards, have been unwilling to fight back and allowed this catastrophe to take hold. They could have held out in the senate, but the cowards would rather attack Cruz, Lee and the patriots in the house, who tried to protect and alert the American people to the coming disaster. I hold these cowards just as guilty.

  2. captstubby says:

    “but the cowards would rather attack …”

    – Ellsworth Toohey and Howard Roark, The Fountainhead
    “In direct contrast to Roark, Ellsworth Monkton Toohey embodies everything evil about mankind. He is irredeemably corrupt and evil. Whereas Roark never tries to win friends or influence people, Toohey’s power lies entirely in his ability to control weaker minds and souls. Toohey’s evil is as ingrained as Roark’s goodness—Toohey learns the practice of manipulation as a child, and turns it into an art by the time he graduates from college. By making people feel small and guilty, Toohey shakes their faith in their own abilities and then assumes control of their lives. Toohey preaches selflessness and ignorance of the ego to force people to act with humble mediocrity. Toohey has no talents of his own, so he makes himself excellent by grinding down his followers.”

    “Toohey has despised the achievements of others, and he dedicates himself to squelching other people’s talents and ambitions. He is a small and fragile-looking man, but his persuasive voice and knack for manipulation make him a formidable opponent. He encourages selflessness and altruism to coax others into submission.”

    Toohey- “Mr. Roark, we’re alone here. Why don’t you tell me what you think of me? In any words you wish. No one will hear us.”
    Roark -“But I don’t think of you.”

  3. The Redneck says:

    I’ve said it before and I’ll say it again: That’s not a bug; it’s a feature.

    Driving real insurance companies out of the market is exactly what this law is intended to do. All the rest is just demon icing on the Cthulhu-cake.

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