The big knock on America’s health care system used to be that the big, bad insurance companies were too profitable and too powerful. Obamacare was going to change that. Well, on that level, at least, the program has been a whopping success. Last week, Moody’s investor service announced that it was downgrading its outlook for the American health insurance sector from “stable” to “negative,” because of the chaotic and unpredictable ramifications of Obamacare. The insurance companies now find themselves unable to predict with any certainty how many paying clients they’ll have, how much they’ll cost to cover, and what new regulations will be raining down on them next. Meanwhile, they spend months preparing to deal with the new law, only to have the President rewrite or delay it on a whim with executive orders. At the rate we’re going, a lot of experts are concerned that the once-flush insurance industry might join the Detroit Automakers in having to line up for a taxpayer bailout. Well, we WERE promised change.
Posted on: Tue, 28 Jan 2014 20:29:46 +0000
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