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Insurance Companies Lose Money Conspiring With Obamacare. Serves Them Right!

United Health Care is complaining and seeking relief from Obamacare because they are losing money on this big government boondoggle.  The deal they entered into with Obama to serve the needs of Obamacare was an attempt to eliminate their competition and jump on the government bandwagon to make some big bucks while basking in the glow and sunshine of our dear president.

I can’t blame them for trying to undermine their competition, that’s how companies become stronger and more efficient. But to join government as a partner in driving their competition out of business is distasteful and bad business, as companies that allied themselves with our current socialist regime are learning.  Obama wanted to use the insurance companies to ultimately get a monopoly of insurance coverage under the control of the government, and then he planned to cast the insurance companies aside and nationalize healthcare, just as the insurance companies discarded their competing companies by allying themselves with Obamacare.

The stories of the disaster that would happen to customer costs, insurance premiums and deductibles with the introduction of the Affordable Care Act were not only numerous but have been proven to be true, and the insurance companies should have been smart enough to see the truth. I believe they certainly did know the truth about the possible loss of profits by supporting Obama, but they were assured by him that the government would not only eliminate their competition, but would also indemnify the insurance companies against any loses, and that’s where the tire began to shred and the car left the road.

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The insurance companies should not be given a bailout, at tax-payer expense, for their own jaded calculations of profits which have blown up in their faces. CEOs must be smarter than to plot against their own country by joining the government against the people who buy their products.  Corporations can’t have it both ways: they can’t pretend to compete in the open market and at the same time make a pact with government to cover their losses and protect them from market competition.

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About Dave King

Retired AT&T supervisor and Verisign manager, 72 years old, living in the Kansas City area.

2 comments

  1. Carrier may lose money providing insurance.

    However, Carriers do make money processing Medicaid claims — the more the better, hence they are generally in favor of Medicaid expansion and moving people from insurance into Medicaid (and it’s numerous Ocare variants).

    With Medicaid, the carriers get paid for processing the claim, and the claim itself is paid by the taxpayers (grubermint)… The carrier doesn’t pay out anything…. It’s easy money for them…

    Additionally, the carriers are very happy sending lots of lobby bucks to weak kneed politicians who promise to expand Medicaid so there will be more claims to process. This carrier money may be laundered thru a crony front group such as the Chamber of Commerce, which then funds folks like Jeb, and Kasich, amongst others.

    Never mind that fees paid by Medicaid are so poor that more and more clinics aren’t taking Medicaid patients, or limiting those they take. All that matters to the politicians is how many folks are signed up for ‘free’ Medicaid “insurance”. The dwindling number of health care providers taking Medicaid is rarely mentioned.

  2. Love it! Get in bed with the devil and you get burned.