ObamaCare is proving the critics right daily

Yesterday the buzz was all about McDonalds possibly dropping its health care coverage for its employees because of a requirement called the “medical loss ratio” which mandates that insurance companies spend 80 to 85% of the premium on health care.  Because of the McDonalds business model, that’s not possible.

Not to worry we’re told, the administration will work it out with McDonalds.  No word on how those businesses in the same boat but that don’t enjoy the political heft of McDonalds will fare.

Earlier in the week we were alerted to the fact that Harvard Pilgrim Health Care will be dropping coverage on about 22,000 senior citizens in the Northeast.  Again, thanks to ObamaCare, the promise that if you liked your insurance, you could keep it was clobbered by the reality of the law.

Today we are privy to two new developments that, thanks to ObamaCare and foretold by its critics, have become reality.

The first is that the Principal Financial Group has made the decision to stop offering health care insurance as a direct result of the new law:

At the Principal Financial Group, the company’s decision reflected its assessment of its ability to compete in the environment created by the new law. “Now scale really matters,” said Daniel J. Houston, a senior executive at Principal, which is headquartered in Des Moines. “We don’t have a significant concentration in any one market.”

The decision will affect approximately 840,000 Americans.  Principal’s insurance product was mostly offered through employers.  It’s assessment of the law and what it would cost the company gave it no choice but to quite offering the product.

“If you like your insurance, you can keep it.”

Finally, another problem that critics of the sweeping health care law said was as inevitable as Principal’s decision.  A report today says ObamaCare will worsen the doctor shortage:

The U.S. healthcare reform law will worsen a shortage of physicians as millions of newly insured patients seek care, the Association of American Medical Colleges said on Thursday.

The group's Center for Workforce Studies released new estimates that showed shortages would be 50 percent worse in 2015 than forecast.

“While previous projections showed a baseline shortage of 39,600 doctors in 2015, current estimates bring that number closer to 63,000, with a worsening of shortages through 2025,” the group said in a statement.

Legislation passed by Congress is always criticized by some faction or another.  Rarely, however, is it ever 100% correct.  But in the case of ObamaCare, that may change.  Thus far almost every criticism and warning leveled by the opposition to this monstrosity has been shown to be true.  Unfortunately we’re just now beginning to see its impact. 

Stay tuned for more and more of the critics arguments to be proven right as we wend our way into this almighty mess created by Congress and the President.  Today’s news is reason enough to jettison the entire mess as soon as the numbers line up correctly in Congress and the right person is in the White House.  Hopefully we’ll only have to wait a couple of years for that all to be in place.

NEPUS

If you find our journalism valuable and relevant, please consider joining our Examiner membership program.
Find out more at www.sfexaminer.com/join/

Just Posted

The Medical Examiner's Office van on Tuesday, April 23, 2019. (Kevin N. Hume/S.F. Examiner)
San Francisco’s 2020 overdose deaths soar 59 percent to 699

Fatal drug overdoses surged by nearly 59 percent in San Francisco last… Continue reading

Police Commissioner John Hamasaki questions Chief Bill Scott at City Hall on Wednesday, May 15, 2019. (Kevin N. Hume/S.F. Examiner)
SFPD should probe whether officers joined Capitol raid, commissioners say

Chief unaware of any members participating in insurrection

Homeless people's tents can be seen on Golden Gate Avenue in the Tenderloin on Wednesday afternoon, Dec. 16, 2020. (Photo by Ekevara Kitpowsong/S.F. Examiner)
Statewide business tax could bring new funds to combat homelessness

San Francisco could get more than $100 million a year for housing, rental assistance, shelter beds

The Museum of the African Diaspora in San Francisco (a mural by artist Jamie Treacy is pictued) has a lineup of free online programming including activities for youngsters scheduled for Martin Luther King Jr. Day on Jan. 18. (Courtesy Demetri Broxton/Museum of the African Diaspora)
Stanford, Museum of the African Diaspora host MLK Day activities

Online offerings include films, music, discussion

Speaker of the House Nancy Pelosi presides the US House of Representatives vote on the impeachment of US President Donald Trump at the US Capitol, January 13, 2021, in Washington, DC. - The Democrat-controlled US House of Representatives on January 13 opened debate on a historic second impeachment of President Donald Trump over his supporters' attack of the Capitol that left five dead. (SAUL LOEB/AFP via Getty Images/TNS)
House votes 232-197 to impeach Trump a second time

Focus shifts to Senate, where McConnell has signaled he may not stand by president

Most Read