Fat chance - from the Washington Examiner:
Study: Obamacare increased overhead spending for health insurance
Administrative spending doubled under Obamacare to get people insured, despite provisions in the law aimed at lowering overhead costs, a new analysis says.
Private insurers did reduce their overhead spending per person because of the law, but those savings weren't nearly enough to offset a big increase in federal spending on healthcare.gov and assistance for some states to run their own marketplaces, according to a paper provided to the Washington Examiner by the American Action Forum.
Insurance companies spent $414 to insure one person for one year in 2013, before the Affordable Care Act's main provisions went into effect. Insurers' overhead spending fell the following year, to $265 per person, under a provision in the law capping how much insurers can spend on overhead costs.
But as insurers reduced their overhead spending, the federal government spent $3.63 billion creating and running healthcare.gov and another $6.12 billion on grants to states to help set up their own online marketplaces. When that federal spending is taken into account, overhead spending rose to $893 per insured person.
If they just introduced some competition into the market and allowed for people to shop around, healthcare costs would drop. Initiate Tort Reform for malpractice suits too - malpractice insurance is one of the largest expenses in running a medical practice - as much as $170,000 per year.
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