Run not-so-silent, run deep

SCENE SET-  Control room a modern day submarine

“Captain, the torpedo is closing on us”

“Release noisemakers, hard turn to port, dive to 500 feet”

“Aye, Captain.  Torpedo range 200 yards and closing fast”

{Loud Explosion Heard}

“We are approaching crush depth Captain.  It’s not working.  We are going down!!”

“Blow main ballast now.  Emergency blow!”

 

And here we go again.  Its a midterm election year, according to recent articles Indiana has seen a 72% increase in prices, the Washington Post reports that only 46% of Democrats support Obamacare.  “Its a great idea that can’t be paid for” is the best quote I have heard …. by a Democrat.

The promise in November by the President that “you can keep your health plan” failed miserably, as I predicted here.  while a number of states will “allow it,” it doesn’t matter when the people have already been cancelled and the old options are no longer approved.  The SHOP exchange was delayed a year.  The Employer Mandate was delayed a year.  The Mandate for 50-99 employees was then delayed another year.

Now the White House announces another series of emergency measures:

  • they are “discussing” delay the Individual Mandate 2 more years.  So no, you wouldn’t have to have insurance.
  • allow insurers to sell plans that do not comply, if States allow it.  Small Business can now “Keep their plan” for another two years.
  • The CBO is now reducing its estimate, stating they expect only 6,000,000 americans to buy insurance on the exchange.

Math Lesson:

  • People are already getting big subsidies (estimated to be $1.06 trillion over 10 years)
  • The IRS sends money to the insurance companies every month on their behalf
  • That means the government has to be able to pay for it
  • BUT… the employer fines have been delayed… the individual mandate is delayed… young people aren’t signing up… you don’t have to have a new plan
  • SO… back to “Its a great idea that can’t be paid for”

The analysts now estimate that the net cost of the Patient Protection and Affordable Care Act coverage provisions to the federal government will be $1.335 trillion from 2014 through 2023.