With every passing day, ObamaCare's flaws
are being exposed in painful ways for the American people. What started
as a broken website—and nonexistent Spanish one—is now snowballing into a
full-scale disaster that makes it increasingly clear this law can't be
fixed.
Under ObamaCare, people are being recklessly exposed to identity theft and fraud through the dysfunctional website and navigator network.
Under ObamaCare,
President
Obama's
broken promise—that people could keep the health plans and
doctors they were happy with—has made casualties of those plans and
providers. Now people have to scramble to find new plans and doctors
that often cost more than before. If they don't find them, a tax fine
enforced by the Internal Revenue Service will ensue.
Under
ObamaCare, abysmal enrollment numbers so far are a warning sign that
this law will cost the American people more—and in more ways—than they
ever imagined.
One of these ways was exposed last week
after President Obama announced his unilateral action to "fix" his
broken promise that Americans could keep their existing plans: a bailout
of health-insurance companies.
Buried
deep in the Department of Health and Human Services' press release that
accompanied the president's Nov. 14 speech was this sentence: "Though
this transitional policy was not anticipated by health insurance issuers
when setting rates for 2014, the risk corridor program should help
ameliorate unanticipated changes in premium revenue. We intend to
explore ways to modify the risk corridor program final rules to provide
additional assistance."
Risk corridors
are generally used to mitigate an insurer's pricing risk. Under
ObamaCare, risk corridors were established for the law's first three
years as a safety-net for insurers who experience financial losses.
While risk corridors can protect taxpayers when they are budget-neutral,
ObamaCare's risk corridors are designed in such an open-ended manner
that the president's action now exposes taxpayers to a bailout of the
health-insurance industry if and when the law fails.
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