Obamacare was constructed in slapdash fashion in an effort to head off the rising anti-Obamacare sentiment exhibited by millions of Americans at the time. The Dems were able to squeeze the law in using some questionable procedural moves without one Republican vote. Concessions were made to Pharma. (Parts of Obamacare were written by Big Pharma.) Other concessions were made to the big health insurance companies. (Parts of Obamacare were written by the big health insurance companies.) All in an effort to get something which looked like universal healthcare under the wire. Now we are presented with the reality of the program’s shoddy construction.
(From The Hill)
“Something has to give,” said Larry Levitt, an expert on the health law at the Kaiser Family Foundation. “Either insurers will drop out or insurers will raise premiums.”
While analysts expect the market to stabilize once premiums rise and more young, healthy people sign up, some observers have not ruled out the possibility of a collapse of the market, known in insurance parlance as a “death spiral.”
In the short term, there is a growing likelihood that insurers will push for substantial premium increases, creating a political problem for Democrats in an election year.
Insurers have been pounding the drum about problems with ObamaCare pricing.