Obamacare - remember this:
Pants on fire. From The Fiscal Times:
White House Is Spending Millions to Battle Obamacare Rate Hikes
Amid reports that consumers could be hit with Obamacare health insurance premium hikes of 10 percent or more, the administration is providing state insurance regulators with $22 million to encourage them to beef up their reviews of requests for rate hikes from the health insurance industry.
The decision announced on Wednesday to provide states with additional resources to evaluate and challenge rate increases, in addition to undertaking other activities related to Obamacare, appears to be as much a political maneuver as another attempt to bend the health care cost curve.
A new Kaiser Family Foundation analysis of Obamacare insurance markets in roughly a third of major metropolitan areas projects that premiums on the most popular silver plans will increase by an average of 10 percent to 11 percent next year, twice the rate of increase approved last fall. And that doesn’t include almost certain increases in co-payments or other out-of-pocket costs to consumers.
What this administration tried to do was price-fix. Students of history will know that this has never ever worked (here, here and here). If Obama wasn't such a marxist, he should know that the only proven way to cut costs is in a free-market economy. Let competition between equal providers drive down the cost of insurance. No government subsidies or political favors to large campaign contributors - level the playing field and let us see who can trim the fat and deliver the lowest price.
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