Wednesday, November 25, 2015
Editor's Note: I'm taking tomorrow and Friday off for the holiday. Circumstances may dictate a longer break or sporadic posting until next Thursday. Things will be back to normal by then, at the latest. Happy Thanksgiving!
Were "More Central Planning!" not regarded by practically every politician as the solution for every problem, I would be more inclined to regard ObamaCare's impending collapse as good news:
The nation's largest health insurer, UnitedHealth Group, said last week that it's losing too much -- $425 million -- from policies sold on the health exchanges, and may have to pull out by 2017.I seem to recall other headlines pointing to a huge "bailout" related to ObamaCare. Will the GOP seize the opportunity this represents, or will it chicken out and reward this company -- which supported the ACA and already receives subsidies -- for its extortion attempt?
The company admits it's "a potentially huge blow" to the new system: "If a major publicly traded insurer bows out, others may follow and destabilize the entire individual market."
Game over for ObamaCare?
UnitedHealth CEO Stephen Hemsley seems to imply just that: "We can't really subsidize a marketplace that doesn't appear at the moment to be sustaining itself."
I'm not holding my breath.