Just this morning we talked bout Ted Cruz schooling Jimmy Kimmel on ObamaCare. Now comes this report, concerning the shortcomings of Obama’s healthcare brainchild. It’s even worse off than people thought.
Or at least worse off than the people who don’t pay attention in the first place thought. We saw this coming since, here at LwC, we do pay attention… because we care to keep you updated. That way you can laugh and say “I told you so” to all your friends when they’re surprised. You’re welcome. Here’s the scoop.
ObamaCare enrollees are sicker than those covered before the law. Backers see this as good news, because it means those needing coverage are getting it. It’s actually a sign of an impending death spiral.
A new report from Blue Cross Blue Shield finds that those who signed up for ObamaCare in 2014 and 2015 had higher rates of various diseases and used “significantly more” medical services in their first year of coverage.
I don’t know about you, but I’m never encouraged by phrases like “impending death spiral.” Particularly in conjunction with healthcare.
Here’s the rub…
But to work, ObamaCare had to also bring in more young and healthy people to offset the costs of the older and sicker and keep insurance premiums down. Otherwise, the market would enter into a “death spiral,” in which higher premiums drive more healthy people out of the market, pushing rates up still further.
That was precisely what happened in several states that had already experimented with ObamaCare-style insurance reforms. And it’s why ObamaCare included an individual mandate and the sizable penalty for not signing up.
By doing this, the entire healthcare market bets its life on young, healthy people. But what happens when the young people (the most reckless and irresponsible demographic on earth) start getting sick and require more care?
Well, you don’t have to guess what would happen in the worst case scenario. Because it already did. It’s not working as they had hoped and promised… Though it is working exactly how critics said it would. Go figure.
Critics like me, someone who was raised under a socialized healthcare system in Canada. Want to know what that’s like? Watch.
Told you so.