By The Numbers

June 9, 2011

According to a new study by McKinsey & Company, nearly 30% of companies will drop healthcare insurance for workers when Obamacare begins in 2014. From a Wall Street Journal report:

ObamaCare will lead to a dramatic decline in employer-provided health insurance—with as many as 78 million Americans forced to find other sources of coverage.

This disturbing finding is based on my calculations from a survey by McKinsey & Company. The survey, published this week in the McKinsey Quarterly, found that up to 50% of employers say they will definitely or probably pursue alternatives to their current health-insurance plan in the years after the Patient Protection and Affordable Care Act takes effect in 2014. An estimated 156 million non-elderly Americans get their coverage at work, according to the Employee Benefit Research Institute.

Before the health law passed, the Congressional Budget Office estimated that only nine million to 10 million people, or about 7% of employees who currently get health insurance at work, would switch to government-subsidized insurance. But the McKinsey survey of 1,300 employers across industries, geographies and employer sizes found “that reform will provoke a much greater response” and concludes that the health overhaul law will lead to a “radical restructuring” of job-based health coverage.

Another McKinsey analyst, Alissa Meade, told a meeting of health-insurance executives last November that “something in the range of 80 million to 100 million individuals are going to change coverage categories in the two years” after the insurance mandates take effect in 2014.

In short, contrary to promises you won’t be able to keep the insurance you like, and Obamacare is not going to save the government money – it is going to cost us billions on top of an already dangerous debt.


Just Breaking…Obamacare Unconstitutional

January 31, 2011

At least according to the latest ruling by a Florida Federal Judge:

“Because the individual mandate is unconstitutional and not severable, the entire Act must be declared void. This has been a difficult decision to reach, and I am aware that it will have indeterminable implications. At a time when there is virtually unanimous agreement that health care reform is needed in this country, it is hard to invalidate and strike down a statute titled ‘The Patient Protection and Affordable Care Act.’ ”

But we are all glad you did Judge Vinson.

A warm spot in a long winter.


Finally Admitting it

January 27, 2011

 

From the ‘Stuff You Already Knew but Now They are Admitting It’ file. 

This is Medicare’s Chief Actuary Rick Foster answering questions posed by Rep. Tom McClintock (R., Calif.) during the House Budget Commitee hearing yesterday:

McCLINTOCK: “True or false: The two principle promises that were made in support of Obamacare were one, that it would hold costs down. True or false?”

FOSTER: “I would say false, more so than true.”


McCLINTOCK: “The other promise…was the promise that if you like your plan, you can keep it. True or false?”


FOSTER: “Not true in all cases.”


And the Wheels Begin to Come Off…

December 13, 2010

A federal judge in Virginia has found a key component of the current healthcare law (the individual mandate; ruling here) unconstitutional. Given that this bill constitutes the totality of the current administration’s accomplishments in the last two years, I think this means the tapestry that was the Obama Presidency has come completely unraveled.

Starting with the failure to halt the sliding economy, to the loss of the House and weakening of the Senate and culminating with this ruling, it is fairly safe to say that this administration has nothing to show for its efforts. To say the least this will make for an interesting campaign strategy in 2012.


By The Numbers

November 16, 2010

According to a new Rasmussen poll, 58% of likely voters oppose Obamacare:

A new Rasmussen Reports national telephone survey finds that 58% of Likely Voters at least somewhat favor repeal of the health care law.  Thirty-seven percent (37%) oppose repeal.  These findings include 46% who Strongly Favor Repeal and 30% who Strongly Oppose it.

Is there any good reason to keep this Frankenstein bill alive any longer? I think the Republicans have a pretty stong mandate to kill it.


Obama’s Big Lie

October 15, 2010

Politicians are remembered in part not only by what they did, but just as often by something they said. Often, they are remembered for a statement made that later proved to be untrue – either because a promise was broken, or because they intentionally attempted to mislead. A few notable examples come to mind – George H. W. Bush’s now infamous statement “Read my lips, no new taxes” would be one example. Bill Clinton’s claim, “I did not have sexual relations with that woman” would be another.

During the course of the recent healthcare debate, our current President also promoted a falsehood. This particular deception differs from the others in that was not simply designed to get re-elected or protect from political attack, but to advance a program which will have an impact on the lives of every man, woman, and child in the US.

The particular lie was this, that despite the sweeping and intrusive nature of Obamacare, “If you like your current plan, you will be able to keep it. Let me repeat that: if you like your plan, you’ll be able to keep it.” This statement was made most notably at a White House address in July of ’09, but was repeated by the President and many others leading up to the passage of the healthcare plan. It was obvious to most at the time that this could not possibly be true, but it was a lie that was necessary to pass the plan, so the President and others advanced it.

Now the plan has advanced, the reality of the situation has set in – a number of companies including 3M and Caterpillar are dropping various health plans. Principal Financial Group has decided to stop selling health insurance all together. Others, including McDonalds, Cigna and various teacher’s unions have sought one year ‘wavers’ to be exempted from certain Obamacare requirements in order to be able to continue their coverage for employees. This last result is particularly troubling because it is corruptive to the rule of law, particularly as it treats various institutions differently under the law depending on their size and particular impact on the political fortunes of the Democratic Party.

The reality of all this is that many, if not most, will not be able to keep their current healthcare plans. Many will eventually be dumped into government run exchanges that will severely limit their options. Many will have to pay considerably more for their insurance plans – and many doctors will simply leave the system all together, depriving their clients of their skills and expertise.

It has been a little over six months since the plan passed, and already one of the primary claims that allowed it to be adopted has been shown to be a complete and utter lie – this next election affords the electorate a rare, perhaps unique opportunity to reverse the expensive deception before it becomes entrenched and immutable as so many entitlement programs have.


Happy Obamacare Day!

September 23, 2010

Today marks the 6-month anniversary of the passage of Obamacare and all it’s broken promises. The Washington Examiner has a good breakdown of what’s coming – a few highlights:

  • Healthcare costs will continue going up
  • Most will be required to change coverage
  • Insurance premiums will rise
  •  Regulations on tax compliance are going raise the cost of running even the smallest businesses
  • It will make the IRS more powerful and intrusive.

 Enjoy.