So the kids at the Tampa Bay Times are at it again. Angie Drobnic Holan might consider getting her stomach pumped because it is clear she has had way too much of Obama’s cool-aid. Let’s examine, from a purely economic standpoint, the first claim she has allegedly “debunked.” That the Affordable Care Act, you know, the Act that Congress and labor unions are trying to get exemptions from because they can’t afford it, is the pathway drug (no pun intended) to a single-payer system, aka socialized medicine. Just forget for a moment that is exactly what Obama said he intends this bill to do. They were his words to the SEIU in 2007.
Anyway, Angie says the claim is false “because the health care law leaves in place the private health care system and the free market.”
She’s right about that. The law doesn’t say they have to go out of business. BUT it does mandate how they must run. Which WILL cause them to go out of business. The free-market isn’t free when the government dictates how “private” companies must operate. It’s the Marxist Economic Model. Look it up. And by forcing health insurance companies to cover pre-existing conditions, and forcing them to cover risks that are not needed by every consumer, and with an industry average net profit of 3.5%, they have to raise their premiums, IF THEY ARE TO STAY IN BUSINESS. The Affordable Care Act also mandates that employers provide insurance for their employees (50 or more) or pay a fine. A FINE that the Supreme Court called a TAX in order to keep from overturning it. It’s now back to being called what it is, a fine.
The Affordable Care Act mandates the fine employers and people must pay for not providing or not buying health insurance, which is thousands of dollars lower than the cost of an insurance policy. It also undercuts the price of an insurance policy purchased through a government exchange by thousands of dollars to one from a “private” insurance company.
Drilling down to your wallet, all those who would prefer to pay THOUSANDS of dollars MORE for health insurance from a private insurance company than from the government raise your hand.
This is how the private health care industry will end. It will be “left in place” to bleed to death. They will find other risks to insure against because the government will have driven them out of the health insurance business. And exactly as the Heritage Foundation says, we will be left with a health system like Great Britain and Canada.
And, according to the Congressional Research Service, there will STILL be over 30 million people who won’t have a health insurance policy. So what has changed? We have a government takeover of sixteen percent of the economy, a decimated health care industry, and 30 million people without a “health insurance policy.”