Remember, others and I warned, years ago, that as bad as ObamaCare seemed then, the disaster of the bill would not appear until after Obama was safely out of office. Well folks – welcome to it. Ever disaster that is and will occur was baked in long ago and artificially tamped down or covered up until after this last election.
ObamaCare, Not Trump, Is Causing ObamaCare’s Massive Rate Hikes
In Iowa, the state’s sole remaining insurer announced on Thursday that it wants to boost ObamaCare premiums by 57%. This isn’t exactly the vibrant, competitive, low-cost market that Democrats promised. But it is the inevitable outcome of ObamaCare’s government-knows-best approach to health care.
Earlier this year, Aetna and Wellmark Blue Cross & Blue Shield announced that they were pulling out of Iowa’s ObamaCare exchange, leaving only Medica, which was also threatening to leave. Not surprisingly, Medica has used its newfound monopoly status to push for increasingly higher rates, while trying to pin the blame President Trump for the increases.
The media, of course, are happy to buy into it that claim. Anything to bash Trump.
But Iowans shouldn’t. Nor should anyone else in the country who heads to the exchanges later this year only to find — for the third year in a row — there are fewer choices and record-breaking premium hikes.
The seeds of today’s double-digit premium increases and collapsing competition were planted long before Trump took the oath of office. In fact, they were embedded right there in the law President Obama signed in 2010.
Take a look at the ObamaCare-created nonprofit insurance co-ops. Democrats put this feature in the bill, and pumped $2.4 billion dollars into their creation, as a means to hold premiums down. Long before Trump arrived on the scene, however, most of the 23 co-ops had gone bankrupt, taking their taxpayer “loans” with them.