http://www.breitbart.com/big-government/...-collapse/
Obamacare Insurance Markets on Verge of Collapse
Obamacare sign is seen on the UniVista Insurance company office on December 15, 2015 in Miami, Florida.
by WARNER TODD HUSTON
3 Sep 2016
Citing the financial unsustainability of Obamacare, both the insured and insurers are fleeing Obamacare in increasing numbers, leaving President Obama’s takeover of the nation’s healthcare system on the verge of collapse.
The administration has claimed Obamacare — officially designated the Affordable Care Act — to be a great success, insisting that 20 million previously uninsured Americans now have insurance. But according to a report at The Guardian, that “success” comes at the expense of all the features that were supposed to make the law sustainable.
President Obama and his cohorts imagined that since Obamacare was to be compulsory, millions of healthy young Americans would immediately sign up, and the massive influx of cash paid into the system as insurance premiums would help pay for the higher costs in care doled out to older, sicker enrollees.
VIDEO: ASTRONOMICAL INSURANCE PRICES LEAVE PEOPLE QUESTIONING AFFORDABLE CARE ACT
Unfortunately for supporters of Obamacare, millions of young people simply ignored the law, deciding, instead, to pay the tax penalties to the IRS for not having insurance because it was both easier to do and cheaper in the long run. Consequently, the largest number of new enrollees are people whose illnesses are costing the insurance companies more to pay out for their care than they are paying into the system in premiums. The result is more money going out for care than coming in, a situation impossible to sustain for long.
The latter is why so many insurance carriers are dropping out of Obamacare. They are being outspent and cannot sustain the costs and remain profitable at the same time. And this, in turn, is setting the whole Obamacare system toward collapse.
As the outlet reports:
In April, UnitedHealthcare left most of the 34 state marketplaces it participated in. And in August, Aetna scaled back its participation in the markets because of losses, and also because of the [J]ustice [D]epartment’s attempt to block it from merging with another health insurance giant, Humana.
Worse, insurance premiums have risen time and again since the inception of Obamacare only a few short years ago, and those rises are set to continue pricing many policies hundreds of dollars a month past the wooly claims of cheap healthcare plans Obama made when he was pushing the law.
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This also effects jobs formation - massive ACA Obamascare health insurance premium increase and deductible and copay increases to drop like a steel anvil in October... this and 41% Fed income tax, 16% Employer and Employee Social Security tax, 6% medicare tax, 5% to 10% plus state and city income taxes, state unemployment and workmens comp insurances, huge property taxes and numerous other taxes and fees...
No wonder millions of men set up a DBA or LLC marry an office drone or nurse or teacher and only pay taxes on her income and hide his cash income... especially guys under crushing child support orders the will have bank accounts in their girl friends name and SSN but control the accounts...
These are tough guys earning serios money... I was looking at buying an interior and exterior paint contracting biz in an upscale ocean front community the guy charged an average of $20K plus for exterior sand caulk prime and paint a house and $10k to prep and paint inside a house...
His trick was to attend 4 differnt old wasp churches every weekend and give discounts to the ministers in exchage for good references... he typically had an average $300K backlog as the homowners especially older widows were terrified of letting unknown illegal immigrants on their properties.
The huge increases in ACA healthcare costs are driving most small businesses operating on razor thin margins into the red as in operating at a loss thus the cash DBA/LLC contracting economy.