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he news should come as no surprise to anyone: The government program to cover those who cannot get health insurance because of a preexisting medical condition is out of money. After just two years.
And for anyone who isn’t already signed up in the plan, it’s too late.
Those who trusted the government to get this right were living a fantasy. The truth about government run entitlement programs is this: It will always cost more money than is advertised and it will be run with great ineffectiveness.
Certainly the “high-risk pools” set up in 2010 have not changed that belief in the least.
Some 100,000 people have entered the program in the past two years, but anyone else who hoped to take advantage of it before 2014 is too late. Halfway in, the door is already closed.
And it should serve notice to those who claimed that forcing private insurance companies to begin covering those with preexisting conditions in 2014 wouldn’t raise rates on everyone else. It always, always costs more than advertised.
It will be a costly expense for those footing the bill. And it very likely will lead to some unintended—some believe, intended—consequences, causing some businesses to stop offering private insurance because of the increased rates. From there, the snowball will only get bigger as it picks up speed.
Thank you very much Chief Justice John Roberts.
“What we’ve learned through the course of this program is that this is really not a sensible way for the health-care system to be run,” stated Gary Cohen, director of the Department of Health and Human Services’ Center for Consumer Information and Insurance Oversight, in a Washington Post story.
Did he really say that? That’s awfully insightful—and honest!
The Washington Post story stated this about those with preexisting conditions: “Many people who are uninsured go untreated, exacerbating their medical problems. When they finally do get coverage through a high-risk pool, they are in immediate need of expensive care.”
And yet the Administration tried to pass this regulation off as though it wouldn’t affect insurance rates or coverage options once it was implemented? Please. Shame on those who blindly bought into that bill of goods. According to the Washington Post story between 9 million and 25 million people with preexisting conditions are uninsured. That will add to the cost of healthcare, substantially, when private companies are required to add them to their rolls.
Costs are going to skyrocket—and like the government, some will likely run out of money.
This isn’t a “sky is falling” scenario. The government’s own program proves that.
Get ready folks, it’s going to be a bumpy ride.