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Bill Clinton Admits ObamaCare's Failures

- October 3, 2016

At A Campaign Rally For Hillary, Bill Criticized ObamaCare For Killing Small Business, Increasing Premiums, Decreasing Options, And Not Making Much Sense

TOP TAKEAWAYS

  • Today Bill Clinton called ObamaCare a crazy system where premiums double and service provided decreases.
  • Bill Clinton also said that ObamaCare is killing small business people.
  • He also attacked the law for having a bad insurance system that is set up for failure.
  • These criticisms come as Hillary Clinton still praises the law and wants to build and expand on it.

TODAY, CLINTON CRITIZED NEARLY EVERY ASPECT OF OBAMACARE

Bill Clinton Called ObamaCare A "Crazy System" Where People End Up With "Premiums Doubled And Coverage Cut In Half." BILL CLINTON:"… insurance companies and they're getting wacked. So you've got this crazy system where all of a sudden 25 million more people have healthcare, and then the people who are out there busting it, sometimes 60 hours a week, wind up with their premiums doubled and their coverage cut in half and it's the craziest thing in the world." (Bill Clinton, Remarks At A Campaign Rally In Michigan, Flint, Michigan, 10/3/16)

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Bill Clinton Claimed That ObamaCare Is Killing Small Business People And Those Who Earn Too Much To Qualify For Subsidies. BILL CLINTON: "On the other hand, the current system works fine if you're eligible for Medicaid, if you're a lower income working person. If you're already on Medicare or if you get enough subsidies on a modest income that you can afford your healthcare. But the people getting killed in this deal are the small business people and individuals who make just a little bit too much to get any of these subsidies." (Bill Clinton, Remarks At A Campaign Rally In Michigan, Flint, Michigan, 10/3/16)

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Bill Clinton Also Said That The ObamaCare Insurance Model "Doesn't Work" And "Doesn't Make Any Sense." BILL CLINTON: "If you were on the other side of this. If you were an insurer it's like gosh I only got two thousand people in this little pool. Eighty percent of the insurance costs every year come from twenty percent of the people. If I get unlucky in the pool, I'll lose money. So they overcharge you just to make sure, and on good years they just make a whopping profit out of the people least able to pay it. It doesn't make any sense. The insurance model doesn't work here. It's not like life insurance. It's not like (inaudible). It's not like predicting floods. It doesn't work." (Bill Clinton, Remarks At A Campaign Rally In Michigan, Flint, Michigan, 10/3/16)

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Who's Right, Bill Clinton's Saying ObamaCare "Doesn't Make Much Sense" Or Hillary Clinton Calling It "One Of The Greatest Accomplishments"?

Hillary Clinton Called ObamaCare "One Of The Greatest Accomplishments" Of The United States. CLINTON: "But the fact is, we have the Affordable Care Act. That is one of the greatest accomplishments of President Obama, of the Democratic Party, and of our country." (Hillary Clinton, CNN's Presidential Primary Debate, Charleston, S.C., 1/17/16)

Hillary Clinton: "We Have Accomplished So Much" Through ObamaCare. CLINTON: "And again, we need to get into the details. But here's what I believe, the Democratic Party and the United States worked since Harry Truman to get the Affordable Care Act passed. We finally have a path to universal health care. We have accomplished so much already. I do not to want see the Republicans repeal it, and I don't to want see us start over again with a contentious debate. I want us to defend and build on the Affordable Care Act and improve it." (Hillary Clinton, CNN's Presidential Primary Debate, Charleston, S.C., 1/17/16)

Hillary Clinton: We Need To Defend ObamaCare Against The Republicans Who Want To Repeal It. CLINTON: "And again, we need to get into the details. But here's what I believe, the Democratic Party and the United States worked since Harry Truman to get the Affordable Care Act passed. We finally have a path to universal health care. We have accomplished so much already. I do not to want see the Republicans repeal it, and I don't to want see us start over again with a contentious debate. I want us to defend and build on the Affordable Care Act and improve it." (Hillary Clinton, CNN's Presidential Primary Debate, Charleston, S.C., 1/17/16)

Hillary Clinton: "We Cannot Start Over, My Friends. We Can't Throw This Country Back Into Gridlock." "'We have fought too hard, we have fought too long,' Clinton said. 'I'm going to fix what's wrong with the Affordable Care Act,' such as reducing out-of-pocket costs and prescription drug costs. 'We cannot start over, my friends. We can't throw this country back into gridlock. People can't wait for us to have another 20-year debate over what we are going to do about health care,' she said." (James Lynch, "Clinton Says She's Ready To Be President," The Gazette, 1/30/16)

ALL SIGNS POINT TO BILL BEING RIGHT AS FAILURES HAVE PILED UP

ObamaCare Is In Trouble As Costs Continue To Rise While Options Get Narrower And Narrower. "You may have noticed that Obamacare's health insurance markets are in trouble. Insurers have announced that they are sharply raising prices or pulling out entirely. Many consumers will have fewer choices of insurance plans, and many insurance plans will include fewer doctors and hospitals." (Margot Sanger-Katz, "Football Team At The Buffet: Why Obamacare Markets Are In Crisis," The New York Times , 9/23/16)

  • "Significant Spikes In Premiums, Insurer Dropouts And Persistently Low Enrollment Numbers Are Combining To Make This Fall's Sign-Up Period A Crossroads For The Obama Administration's Signature Health Law." (Louise Radnofsky And Stephanie Armour, "U.S. Health Law Faces Critical Year," The Wall Street Journal, 9/7/16)

Bill Clinton Is Correct When Criticizing ObamaCare For Skyrocketing Premiums As Proposals In Minnesota And Illinois Have Premiums Roughly Doubling

Premium Increases Could Substantially Impact As Many As 10 Million People Who Do Not Qualify For Government Subsidies. "The individual market, overhauled under the health law to require insurers to sell to everyone regardless of their health history, is made up of approximately 10 million people who get coverage from HealthCare.gov or a state equivalent, and another group who buy coverage on their own outside the system. People in the first group typically have federally funded subsidies pegged to the cost of coverage that can blunt the impact of premium increases, and stave off a rapid deterioration in enrollment. People who buy coverage on their own outside the site don't, and some estimates put their numbers as roughly similar to those who use HealthCare.gov. This latter group's participation in the market is as critical as people who get subsidies-if not more, because actuaries typically assume that wealthier people enjoy better health." (Louise Radnofsky And Stephanie Armour, "U.S. Health Law Faces Critical Year," The Wall Street Journal, 9/7/16)

  • A Death Spiral Becomes More Likely As More Premiums Rise And Insurers Lose Money. "'Are we in an Obamacare 'death spiral?' health insurance consultant Robert Laszewski asked in a Sept. 9 bulletin to clients, where he described the grim scenario. In a death spiral, as options for coverage shrink, insurers attract increasingly sick patients and suffer losses. That forces them to raise rates, driving away healthy, profitable customers. Facing more losses, they raise rates again, causing more healthy people to leave, and so on -- until all that's left are high premiums and a small pool of the unwell." (Tatiana Darie, "Shaky Obamacare Market Adds To 'Death Spiral' Fears," Bloomberg, 9/23/16)

Premium Increases Could Substantially Impact As Many As 10 Million People Who Do Not Qualify For Government Subsidies. "The individual market, overhauled under the health law to require insurers to sell to everyone regardless of their health history, is made up of approximately 10 million people who get coverage from HealthCare.gov or a state equivalent, and another group who buy coverage on their own outside the system. People in the first group typically have federally funded subsidies pegged to the cost of coverage that can blunt the impact of premium increases, and stave off a rapid deterioration in enrollment. People who buy coverage on their own outside the site don't, and some estimates put their numbers as roughly similar to those who use HealthCare.gov. This latter group's participation in the market is as critical as people who get subsidies-if not more, because actuaries typically assume that wealthier people enjoy better health." (Louise Radnofsky And Stephanie Armour, "U.S. Health Law Faces Critical Year," The Wall Street Journal, 9/7/16)

Premium Increases Submitted By Illinois For Next Year Range From 43 To 55 Percent Depending On The ObamaCare Plan. "The state Department of Insurance recently submitted to the federal government rate increases ranging from averages of 43 to 55 percent for some types of plans that will be offered on the exchange next year. The federal Centers for Medicare & Medicaid Services will finalize those rates." (Lisa Schnecker, "Harken To Exit Illinois Obamacare Exchange," Chicago Tribune, 9/29/16)

Minnesota's ObamaCare Exchange In On The Brink Of Collapse, Prompting Insurers To Drastically Increase Premiums In An Effort To Stay In Business. "Minnesota will let the health insurers in its Obamacare market raise rates by at least 50 percent next year, after the individual market there came to the brink of collapse, the state's commerce commissioner said Friday." (Katherine Doherty And Zachary Tracer, "Near 'Collapse,' Minnesota to Raise Obamacare Rates by Half," Bloomberg, 9/30/16)

  • "The Increases Range From 50 Percent To 67 Percent, Commissioner Mike Rothman's Office Said In A Statement." (Katherine Doherty And Zachary Tracer, "Near 'Collapse,' Minnesota to Raise Obamacare Rates by Half," Bloomberg, 9/30/16)
  • "The Rate Hike Follows Increases For This Year Of 14 Percent To 49 Percent." (Katherine Doherty And Zachary Tracer, "Near 'Collapse,' Minnesota to Raise Obamacare Rates by Half," Bloomberg, 9/30/16)
  • Premium Increases Are Expected To Average Around 60 Percent. "On average, rates in the state will rise by about 60 percent, said Shane Delaney, a spokesman for MNSure, the state's marketplace for Obamacare plans. About 250,000 people, or 5 percent of the state's population, were covered under plans bought on the individual market, including plans bought on the Affordable Care Act markets as well as outside it." (Katherine Doherty And Zachary Tracer, "Near 'Collapse,' Minnesota to Raise Obamacare Rates by Half," Bloomberg, 9/30/16)

Bill Clinton Is Correct Again, Insurers Are Passing The Cost Of ObamaCare Onto Consumers In The Form Of Exorbitant Out Of Pocket Costs

The Average Deductible Of The Most Common ObamaCare Plan Is $3,000 While The Average Out Of Pocket Expense For A Hospital Stay Can Exceed $4,000. "The problem here is that many of the Obamacare plans have high deductibles and co-pays, which makes them unaffordable for many consumers without subsidies. The average deductible for the most common Obamacare plan is over $3,000. Average out-of-pocket expenses for a hospital stay can top $4,000. Realistically, the plans that are working look more like that hated three-letter acronym, HMO." (Times-Union Editorial Board, "Obamacare Is A Failing Insurance Product," Florida Times-Union, 9/20/16)

  • Today, The Average Deductible For Individual Plans Is $1,478 . "Not only has the number of plans with deductibles grown, so, too, has the amount patients must come up with before coverage kicks in. Today, the average deductible in individual plans that have one is $1,478." (Jenny Deam, "A Shift In Coverage Has Even The Insured Skipping Medical Care, Houston Chronicle, 10/1/16)

Twenty Years Ago, High Deductible Premiums Were Rare, Today Over 51% Of American Workers Have A Deductible Greater Than $1,000. "Twenty years ago, high-deductible plans were rare. Now they have taken root, shifting more and more out-of-pocket costs onto consumers. This year, for the first time, a majority threshold was crossed as 51 percent of American workers have a deductible of at least $1,000." (Jenny Deam, "A Shift In Coverage Has Even The Insured Skipping Medical Care, Houston Chronicle, 10/1/16)

  • The Amount That Americans Spend On Healthcare Has Risen From 5.7 Percent In 1984 To 8.6 Percent In 2015. "The amount of money middle-income Americans spend on health care has risen from 5.7 percent in 1984 to 8.6 percent in 2015, as household expenses for things such as food and clothing have gone down, according to data from the Hamilton Project, an economic policy initiative at the Brookings Institution. That suggests people are squeezing money out of other budget categories to pay for health care." (Jenny Dream, "A Shift In Coverage Has Even The Insured Skipping Medical Care," Houston Chronicle, 10/1/16)

In 2016, 41 States Saw Deductible Increases With 17 States Experiencing Double Digit Increases. "These increases were deep and widespread. In total, 41 states saw average deductibles increase, with 17 states - representing 45 percent of total exchange enrollment - seeing double-digit spikes. The largest increases were in Mississippi (39 percent), Washington (31 percent), South Carolina (26 percent), Louisiana (24 percent), Florida (23 percent), Michigan and Vermont (22 percent), Arizona (21 percent), and North Carolina and Rhode Island (20 percent)." (Nathan Nascimento, "The Latest Problem Under The Affordable Care Act: Deductibles," The National Review, 04/12/16)

High Deductibles Are Making Many Feel As If They Are Uninsured. "This is crazy, she wanted to scream. She has insurance, but it comes with a $6,000 family deductible - $2,000 for each of them - that she must pay before her policy typically pays a dime. Last year, she was uninsured. This year feels exactly the same. Walla is one of the millions caught in the reshuffling of the who-pays-what calculation within the U.S. insurance industry, especially in employer-sponsored group plans used by the vast majority of Americans." (Jenny Deam, "A Shift In Coverage Has Even The Insured Skipping Medical Care," Houston Chronical, 10/1/16)

  • One Survey Showed That Nearly One In Three Texans Avoided Medical Care Due To Costs. "It gives voice to a survey his company commissioned in July asking 500 Texans about their health care habits. Nearly 1 in 3 with insurance said they had delayed or skipped a medical treatment or doctor visit in the past two years. Of those with high-deductible plans, the number neared 1 in 2. 'My reaction was, wow, we're in a lot of trouble in this country,' he said. His study also found that more than a third of people, both with and without insurance, admitted significant financial problems because of medical bills. That rose to 42 percent among those with high-deductible plans." (Jenny Dream, "A Shift In Coverage Has Even The Insured Skipping Medical Care," Houston Chronicle, 10/1/16)

Bill Clinton Again Hit The Nail On The Head As Insurers Have Been Pulling Out Of ObamaCare In Droves Leaving Consumers With Little To No Choices

New West Health Services Of Montana Also Recently Announced Their Departure From ObamaCare. "Officials for a Montana health insurance company say the company will shut down next year. Ryan O'Connell of New West Health Services said Friday the company will cease operations after it fulfills its requirements for this year's insurance plans. Company CEO Angela Huschka says the company is not able to be financially successful with health insurance industry's increasing complexity and new challenges." ("Montana Insurer To Shut Down In 2017," The Associated Press, 9/25/16)

Harken Insurance Recently Announced It Is Pulling Out Of The Illinois Market. "Harken Health is abandoning the state's Obamacare health insurance marketplace. Harken, a subsidiary of UnitedHealthcare, said Thursday it will not offer plans on the exchange next year. Insurers Aetna, UnitedHealthcare and Land of Lincoln already have announced they won't offer plans on the exchange next year." (Lisa Schnecker, "Harken To Exit Illinois Obamacare Exchange," Chicago Tribune, 9/29/16)

Blue Cross Blue Shield Of Tennessee Has Decided To Leave The Nashville, Memphis And Knoxville Markets. "BlueCross BlueShield of Tennessee sent shock waves Monday across Tennessee with the company's decision to exit the Obamacare exchange in Nashville, Memphis and Knoxville, a move that highlights persistent volatility in the young health insurance marketplace." (Holy Fletcher, "BCBST's Exit From 3 Obamacare Markets Sends Shock Waves," The Tennessean , 9/27/16)

  • 130,000 People Will Lose Their Insurance. "The insurer made 'an extremely difficult but necessary decision' to leave the state's three largest markets as it tries to manage its number of members to hit a break-even point after three years of losses, said Roy Vaughn, chief communications officer of BCBST. The insurer is projecting losses approaching $500 million by the end of 2016. BCBST is not alone, as many insurers have been saddled with uncertainty and significant losses in the federally run marketplace. The Chattanooga-based insurer, which was the only insurer that originally planned to sell statewide, expects to shed nearly 130,000 people from its rolls under the change and keep about 80,000 primarily in rural areas." (Holy Fletcher, "BCBST's Exit From 3 Obamacare Markets Sends Shock Waves," The Tennessean , 9/27/16)

Part Of Texas Will Be Left With Only One Provider After Four Insurers Pulled Out Of ObamaCare. "After three years of growth, which culminated in six health insurers offering 63 plans last year, the Affordable Care Act marketplace likely will fall to just one insurer for Tarrant County residents in 2017. Blue Cross Blue Shield of Texas will be the sole player in the ACA marketplace here, making Tarrant County the largest metro area in the state down to one participant. Four of the previous insurers in the county - Aetna, Scott & White, Cigna and UnitedHealth - each confirmed they have pulled out of the ACA marketplace throughout the state." (Teresa McUsic, "Local Consumers Left With Few Options On Obamacare Exchange," The Fort-Worth Star Telegram , 9/16/16)

  • The Remaining Provider Plans To Raise Premiums By Roughly 60 Percent Due To Loses Incurred Under ObamaCare. "In addition, Blue Cross plans to significantly raise its 2017 premiums in Texas for ACA policies nu an average of 58 percent, according to a filing at Healthcare.gov. The April filing said the rate hikes would affect approximately 535,000 customers and are based on a $770 million loss in 2015 as a result of $4 billion in claims supported by $3.2 billion in premiums. Other insurers in the marketplace also have indicated losses." (Teresa McUsic, "Local Consumers Left With Few Options On Obamacare Exchange," The Fort-Worth Star Telegram , 9/16/16)
  • Blue Cross Will Be The Sole Provider For Roughly 1/3rd Of Texas. "However, Blue Cross, which will remain the sole insurer in more than a third of Texas counties, said final decisions have not been reached on its 2017 marketplace policies." (Teresa McUsic, "Local Consumers Left With Few Options On Obamacare Exchange," The Fort-Worth Star Telegram , 9/16/16)

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