Weren’t we told that the main purpose of the Affordable Care Act was to get affordable health insurance for every American? That was the first of many lies we were told about Obamacare which still are rolling off the tongue of the Liar-in-Chief.
He told everyone that they could keep their existing health insurance and then over 6 million Americans were notified that their policies were cancelled. By the time Obama reacted, it was too late for most of them to salvage their policies because the insurance companies had completely revamped their policies due to the new Obamacare regulations and it was too costly for them to go back and revive the cancelled policies.
Then many people discovered that it would cost them more for less coverage under Obamacare and many refused to enroll, opting out to pay the less expensive fine for not being covered. Then rates went up in many states for 2015 and even more Americans decided they could no longer afford to pay the higher rates.
Now many insurance companies are requesting huge rate increases because Obamacare is costing them millions of dollars. The Obama administration is reacting by trying to get states to drastically reduced the rate increases that they approve in order to save what little face they still have.
Rate increases are not enough for some insurance companies such as Blue Cross Blue Shield of Texas. They claimed to have lost millions of dollars on one group of insured people in 2014, so they have announced that they are no longer offering coverage to the same group. Now they are doing it again.
For some Texans, this is their second time to receive cancellations notices from Blue Cross Blue Shield of Texas. Merrill Matthews shared that his wife had an individual private plan with an insurance agent in 2014, but was notified that her policy was being cancelled.
She contacted her insurance agent who shopped and recommended she stay with Blue Cross Blue Shield of Texas. The agent showed her a plan that only cost $25 more a month but the deductible would increase from her previous $2,500 to $5,000 and it was far more restrictive as to network coverage.
She ended up purchasing a plan with almost identical coverage except that the deductible jumped to $6,000 and this new plan cost 50% more than her previous plan, which wasn’t cheap to begin with.
On July 23, Blue Cross Blue Shield of Texas released the following statement:
“BCBSTX was the only insurer to offer an individual PPO insurance plan across the state to individuals in 2014 and 2015. Since the Affordable Care Act began, the market has changed. We found that the individual PPO plan was no longer sustainable at the cost it was being offered. Because we want to make sure that our plans are affordable, we decided to not offer individual PPO plans in 2016.”
“The law requires that we set our individual plan rates based on all of our individual members’ claims history. This means that if the costs of one plan are high, it will raise the rates of all other plans, not just the high-cost plan. If we kept the Blue Choice PPO, this would have raised the rates so much for all our other plans that most people wouldn’t be able to afford them. By dropping the PPO, we can still offer our other plans at reasonable rates.”
Guess what, Mrs. Matthews is having her private plan cancelled again because even though she was paying a lot more with a higher deductible, the insurance giant was still losing hundreds of millions of dollars.
This is further proof that under Obamacare regulations, insurance companies cannot provide the affordable coverage that Obama promised us. The cost for health insurance in 2016 appears to be skyrocketing out of control at a rate far greater than seen prior to the passage of the national socialist healthcare law.
Everything about Obamacare has been a failure if you look at it the way it was presented to the American people. However, it has been a total success if you view it through the eyes of a political group that desires to turn America into a socialist dictatorship.
Everything about Obamacare reeks of socialism and has absolutely nothing to do with affordable healthcare. I’ve said that from the very beginning and everything I said then is being proven true today.