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Thread: Obamacare Only Enriches Insurance Providers, says Forbes

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    Alyosha's Avatar Senior Member
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    Obamacare Only Enriches Insurance Providers, says Forbes

    I told you so. I swear to God Democrats are the dumbest people on the planet. If it feels good, do it. Who cares if it rewards all the wrong people and hurts all the right people...we'll fix it later because 10 people were helped for every 500 people hurt!

    So far in 2013 the value of the S& P health insurance index has gained 43%. Thats more than double the gains made in the broad stock market index, the S & P 500. The shares of CIGNA are up 63%, Wellpoint 47% and United Healthcare 28%. And if you go back to the early 2010 passage of ObamaCare, you will find that Obama’s sellout of the public interest has allowed the public companies the ability to raise their premiums, especially on small business, dramatically multiply their profits and send the value of their common stocks up by 200%-300%. This is bloody scandalous and should be a cause for concern even as the Republican opponents of the bill threaten the close-down of the government.


    We warned you back on December4, 2009 in my blog ” The Horrendous Truth About Health Care Reform” that the Obama White House was handing a “ free ride for the health insurance industry” that would allow premium hikes of 8%-10% a year by CIGNA, Humana HUM -1.9%, Aetna AET -1.94%, UnitedHealth Group UNH -1.12% and Wellpoint, and as well a $500 billion taxpayer subsidy, a half trillion dollars without any requirement that the health insurers had to spend the subsidy on medical care. Several US Senators including Jay Rockefeller of West Virginia spoke to me openly of the outrageous sellout being foisted on the nation’s uninsured citizens.


    At the time I wrote, Goldman Sachs research operation estimated that the 5 giants would increase profits by 10% a year from 2010 to 2019, sending their shares up an average of 59%. In truth, the shares of CIGNA and some others are up a multiple of several times since the contest was resolved by a very tight vote in early 2010. One startling reason for this amazing performance was that Obama took off the table “proposals to significantly reduce health care costs” as the giveaway in getting the bill through, according to Ron Susskind’s best-selling book ,”Confidence Men,” which I wrote about in a blog on September 24, 2011. ( “Obama’s Incoherent Policy-Making”) Some 3 years later, UnitedHealthCare Group(UNH) was rewarded by being added to the elite list of the Dow 30 industrials.


    I understood belatedly that there would have been no Affordable Care Act of 2010 if the White House had not given into demands from the giant profit-making health insurance companies. Had he not done so, I am being assured that there would have been no bill passed, a priority goal that Obama promised in his 2008 Presidential campaign. How the profits have risen so impressively requires further investigation as the bill is meant to limit the profits earned to 20% of the revenues.
    http://www.forbes.com/sites/robertle...-shareholders/

    There will be some idiots that ignore the facts, as usual, because haha its about winning, not doing what's smart or good for the whole country.


    This @kilgram is why I was against a corporatist option. In all our time we've known each other have I ever said one nice thing about big business? No. I was against Obamacare because I knew it would help big business and destroy the ability for the middle class to have a life that is not just "existing".

    What about the people making $50K a year liberals? Like that one lady's premiums that went up by $10k? She is now missing $833 a month from her family's budget.

    Good job, jerks.
    And if we should die tonight
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    Cigar's Avatar Banned
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    Good so bring on Single Payer ...

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    But the joke's on them. From what I have heard, a lot of insurance companies have already folded in the face of Obamadontcare. And the ultimate plan of regressives is to go single payer.

    Insurance companies have sold their soul to the Devil.
    Cutesy Time is OVER

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    It also gives millions a chance at having health insurance that couldnt get it before and those with existing conditions who were screwed.
    The article miss's one huge point, the BILLIONS in savings from indigent and charity care that taxpayers paid to hospitals for emergency room care from those uninsured.

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    Quote Originally Posted by Common View Post
    It also gives millions a chance at having health insurance that couldnt get it before and those with existing conditions who were screwed.
    The article miss's one huge point, the BILLIONS in savings from indigent and charity care that taxpayers paid to hospitals for emergency room care from those uninsured.
    That's not true. It's propaganda. Medi-shares and medical cooperatives have always taken people in with pre-existing conditions.

    Those billions could also be saved by medi-shares and medical cooperatives or allowing insurance providers to sell across state lines.

    There are more solutions than this either/or mentality you have, Common. Neither the Democrats nor the Republicans have to be right. There are a hundred other solutions no one heard because the goal was never to benefit "us" but "them".
    And if we should die tonight
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    Quote Originally Posted by Cigar View Post
    Good so bring on Single Payer ...
    Oh, don't give us that tripe. If Obama stood up and said single-payer was evil, you'd do a 180 so fast you'd break your damn neck.
    "Those who produce should have, but we know that those who produce the most — that is, those who work hardest, and at the most difficult and most menial tasks, have the least."
    - Eugene V. Debs (1855-1926), five-time Socialist Party candidate for U.S. President

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    Quote Originally Posted by countryboy View Post
    But the joke's on them. From what I have heard, a lot of insurance companies have already folded in the face of Obamadontcare. And the ultimate plan of regressives is to go single payer.

    Insurance companies have sold their soul to the Devil.
    I've said this a million times: there's no logic outside of "these proven liars said so" to think that the Democrats as a whole are seriously trying to get single-payer. None.
    "Those who produce should have, but we know that those who produce the most — that is, those who work hardest, and at the most difficult and most menial tasks, have the least."
    - Eugene V. Debs (1855-1926), five-time Socialist Party candidate for U.S. President

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    Quote Originally Posted by Common View Post
    It also gives millions a chance at having health insurance that couldnt get it before and those with existing conditions who were screwed.
    The article miss's one huge point, the BILLIONS in savings from indigent and charity care that taxpayers paid to hospitals for emergency room care from those uninsured.
    Yes, health INSURANCE, which means you can still be $#@!ing bankrupted by medical bills.

    Jesus, Common, just come out as a Democrat already.
    "Those who produce should have, but we know that those who produce the most — that is, those who work hardest, and at the most difficult and most menial tasks, have the least."
    - Eugene V. Debs (1855-1926), five-time Socialist Party candidate for U.S. President

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    If people could get a copy of the fee schedule of their health insurance company and see how little they pay for medical services, they would see that health insurance is a scam and are ripping everyone off.

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    @Alyosha... you just posted a thread saying howthe industry was raising its prices in "anticipation" of greater costs.

    the answer to that is PARTICIPATION in the system...

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