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Bill Clinton Bashed ObamaCare For Being A “Crazy System”

- October 9, 2016

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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Bill’s Criticisms Come As State Premiums Spike, Insurers Flee The Marketplace And ObamaCare Co-Ops Continue To Fail

Bill’s Criticism Was “Not That Different From Either Hillary Or Obama’s Criticism,” Just More Fortheright. “To Bill’s credit, what he said is not that different from either Hillary or Obama’s criticism of the program, albeit more blunt.” (Abigail Tracy, “Clinton Campaign On The Defensive After Bill Call ObamaCare ‘Crazy,’” Vanity Fair, 10/5/16)

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) 

  • 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) 

Delaware Premiums Will Increase From 18 To 35 Percent Next Year. “The Delaware Department of Insurance approved rate increases for insurance companies offering individual and small group plans on the Affordable Care Act-mandated marketplace for 2017. Monthly premiums for individual plans will increase by 18 to 35 percent next year. Increases depend on the plan, age and whether the person smokes. A 21-year-old, nonsmoker, for instance, may see a $64 increase. In some cases, smokers who are over age 60 could pay more than $300 more than they did last year.” (Jen Rini, “Delaware Obamacare Rates Increasing Again,” The News Journal, 10/7/16)

Tennessee State Regulators Have Approved 2017 Premium Hikes With A Weighted Average Of 59%. “Assuming attrition has been relatively equal across all four of the current exchange carriers, that leaves approximately 195,327 current enrollees whose plans will still be available in 2017, albeit with rate increases. For those folks, the weighted average rate increase for the Tennessee exchange is about 59 percent. Although Cigna and Humana have refiled new rate hikes that were significantly higher than their original filings, the weighted average rate increase didn’t change much (it was 55 percent originally), because BCBSTN has almost 82 percent of the remaining market share, once we subtract people covered by UnitedHealthcare, for whom there’s no applicable rate increase. So the 62 percent average rate increase for BCBS of TN is what will apply to the majority of the exchange’s current enrollees.” (Louise Norris, “Tennessee Health Insurance Exchange / Marketplace,” Health Insurance, 8/23/16)

It’s Likely That Millions Of Americans Will Be Affected By Double Digit Premium Hikes. “The last thing Democrats want to contend with just a week before the 2016 presidential election is an outcry over double-digit insurance hikes as millions of Americans begin signing up for Obamacare. But that looks increasingly likely as health plans socked by Obamacare losses look to regain their financial footing by raising rates.” (Paul Demko, “Obamacare's November Surprise,” Politico, 5/2/16)

  • 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)

Insurers Are Also Leaving The Marketplace Due To This Crazy System Known As ObamaCare

With Losses Piling Up,  Large Insurers Are Leaving ObamaCare Exchanges In Droves. “With the fourth open-enrollment period set to begin this fall for the marketplaces set up by the Affordable Care Act, it’s becoming clear that the market for health insurance has not evolved as expected, or hoped. The market is smaller than projected. The people who have bought health plans overall are sicker than predicted. And health insurers have incurred larger losses than anticipated. As a result, some large national insurance companies, including UnitedHealthcare, Humana and Aetna, plan to abandon markets across the country next year.” (Guy Boulton, “Health Insurers Eye Steep Increases,” Milwaukee Journal Sentinel, 8/24/16)

  • 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)

ObamaCare’s Co-Ops Have Largely Failed With More On The Verge Of Total Collapse

ObamaCare’s Health Co-Ops Are “Collapsing” At A “Rapid Clip.” “Health cooperatives are collapsing at such a rapid clip that some co-ops and small insurers are forming a coalition to consider legal action to try to change health-law provisions they blame for their financial distress.” (Stephanie Armour, “More Health Co-Ops Face Collapse,” The Wall Street Journal, 10/16/15)

17-23 Original ObamaCare Co-Ops Have Now Failed. “The announcement also follows a national pattern of Obamacare co-op failures. Just seven of the 23 co-ops remain, according to a Forbes report in July.” (Susan Livio, “Another N.J. insurance company drops out of Obamacare,” New Jersey, 9/12/16)

  • In September, New Jersey Announced The Failure Of Their ObamaCare Co-Op Which Will Shut down At The End Of 2016. “Faced with ‘a deteriorating financial condition,’ another health insurance carrier is pulling out of New Jersey's health exchange marketplace created under the Affordable Care Act, forcing 35,000 policy holders to find a new plan in 2017,  the state's top insurance official announced Monday night. Health Republic Insurance of New Jersey will serve customers through the end of the year, state Department of Banking and Insurance Commissioner Richard Badolato said. The state is working out a ‘rehabilitation’ plan that preserves the carrier's financial assets so medical providers will be reimbursed for the care they provide consumers for the remainder of the year, Badolato said in a statement late Monday.” (Susan Livio, “Another N.J. insurance company drops out of Obamacare,” New Jersey, 9/12/16)

Maryland’s Co-Op, On The Verge Of Failure, Is Looking To Leave The Co-Op Program In Favor Of Privatization. “Maryland's nonprofit health cooperative created under Obamacare is remaking itself as a for-profit company in an effort to survive. Evergreen Health, one of the consumer operated and oriented plans set up via the healthcare law, announced Monday that it is being turned over to private equity investors after a year of working with federal regulators to try to stabilize its finances. The insurer covers nearly 38,000 Maryland residents, including 8,000 who bought their plans through Maryland's Obamacare exchange.” (Paige Cunningham, “Maryland’s Obamacare Co-Op Struggling,” Washington Examiner, 10/3/16)

  • If The Transition Is Approved, 18 Of The 23 Original ObamaCare Co-Ops Will No Longer Remain. “If federal and state officials approve the transition, just five of 23 original co-ops will remain. Seventeen of the co-ops have shuttered because of major losses, forcing their customers to buy new plans.” (Paige Cunningham, “Maryland’s Obamacare Co-Op Struggling,” Washington Examiner, 10/3/16)

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