Friday, 20 November 2015
The "Affordable Care Act" popularly known as "ObamaCare" after its increasingly unpopular namesake isn't proving to be very 'affordable' for insurance companies.
The largest health care insurer in the US, United Health, is dying from ObamaCare. United is losing hundreds of millions of dollars so far in 2015, and expects to lose as much as $500 million in 2016.
- United insures 550,000 ObamaCare clients.
In United's own words "we can't afford to subsidize the government-run marketplace." United may completely quit ObamaCare by 2017.
- If the biggest and most savvy kid on the block is struggling, how do you think all the other insurers are doing?
Anyone recall what Margaret Thatcher said about 'socialism when you run out of other people's money?'
From Theo Spark at 11:22