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Friday, 03 January 2014 15:20

Official ObamaCare Launch: More Insurance Cancellations Than Enrollments

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All of the warnings regarding the harsh reality of ObamaCare were proven true on January 1, when it became clear that promises to offer healthcare for the masses were highly inflated. On the debut of ObamaCare, more health insurance plans were cancelled than there were new enrollments.

The Daily Caller reports, “More than 4.7 million Americans had their health insurance canceled as a result of any of the thousand-plus-page law’s new rules ... but the Department of Health and Human Services confirmed Tuesday that between federal and state exchanges, just two million Americans have signed up for ObamaCare coverage.”

The Obama administration has announced a net loss of at least three million insurance plans. On Sunday morning, the White House stated that just 1.1 million people have used the federal ObamaCare website to sign up for the president’s healthcare network.

“More than 1.1 million people enrolled in a qualified health plan via the Federally-facilitated Marketplace from October 1 to December 24, with more than 975,000 of those enrolling this month alone,” said a 6 a.m. statement from Marilyn Tavenner, the administrator of the Centers for Medicare & Medicaid Services.

The figures are just two thirds of the 3.3 million goal set for December 31, and just one-third of the seven million customers needed by March 31 of this year.

Because of the paltry figures, the White House is now backing away from that benchmark of seven million enrolled by March. The White House now claims that was never their target number.

And the total signups are three million less than the five million people who lost their health insurance policies before Christmas as a result of ObamaCare. The Daily Caller adds, “The minus 3 million is only partially offset by the extension of Medicaid coverage to perhaps 2 million other people, few of whom earn enough to afford commercial insurance.”

Millions of Americans lost their plans because those plans failed to meet the requirements of the new healthcare law. The Daily Caller reports, “All plans must include maternity coverage, for example — including plans for men and post-menopausal women. Even customers without children must purchase plans that cover pediatric services. Other newly established essential benefits include hospitalization, mental-health services and preventive and wellness services.”

Many customers were permitted to keep their current healthcare plans, for now, under a grandfather clause that allows plans purchased before ObamaCare passed in 2010 to continue. But HHS estimates that 40-67 percent of plans would eventually lose their status and cost millions of Americans their insurance plans.

And the enrollment figures could be even lower than what is being touted too, according to the Cato Institute. Health policy expert Michael Cannon of Cato notes that customers are not considered fully enrolled until after they’ve made their first payment. Cannon warns that not all those who signed up will complete the purchase, thereby reducing the figures even more.

The White House has not provided data on who has signed up for the plans, but if more unhealthy and older people signed up for the plans than young and healthy ones, the insurance companies will be saddled with an influx of costlier customers. The companies will likely pass those increased costs onto their customers, compelling the federal government to step in, using taxpayer dollars, to cover the financial losses suffered by the insurance companies.

Many Americans are so frustrated by the broken promises and massive disappointments of ObamaCare that the president’s approval rating has dropped below 40 percent.

Despite the disappointing launch and poor public opinion, however, President Obama continues to maintain an enthusiastic front. “Ultimately I think I’ll be judged on whether this thing is better for people overall,” Obama told NBC’s Chuck Todd in November.

Or, if the new healthcare scheme proves to be a total disaster, as many feel it already is, that may just pave the way for a completely government-run "single-payer" system like many European countries employ. Some analysts feel that this may have been the plan all along, in fact. Either way, such massive government intrusion into Americans' health decisions is unconstitutional and will cause economic hardship and lower-quality care for many people.

1 comment

  • Comment Link Heidi Preston Monday, 06 January 2014 04:07 posted by Heidi Preston

    More interesting to me, is the fact that on December 2013 President Obama recommended that Stanley Fischer (former bank of Israel 2005-2013) for the position of Vice Chairman for the Federal Reserve. He is a citizen of Israel (and america) and was Bernanke's dissertation adviser in graduate school (and here we all thought he was the guru behind the expertise on Depression).
    On May 2010 an article in Haaretz news had this to say about Stanley Fischer (which will be covered up..with luminous shades of golden fleece by the american media):
    "Nochi Dankner, the controlling shareholder of the IDB group, is taking action before being forced to do so: He has decided to sell off Clal Insurance, one its most important subsidiaries and its main financial services asset.
    Netanyahu had said in a speech that he said he would take action to limit the "concentration of economic power" in the "hands of the few". That means, restricting the freedom of movement by the large holding companies that also own financial institutions.
    As for Dankner's sale of Clal Insurance, the U.S. investment bank Goldman Sachs is handling the deal, wihch has been, code-named Cougar. It has already approached a number of U.S. financial and strategic investors to interest them in Clal.
    By selling off Clal Insurance, Dankner would head off disputes with regulators and toe the line with recent statements on limiting the power of tycoons made not only by Netanyahu but also Finance Minister Yuval Steinitz and the governor of the Bank of Israel, Stanley Fischer. "- Haaretz May 13, 2010 by Norman Barr

    1. President who has a controversial birth record
    2. Recommends an Israeli banker (who gave up his american citizenship but was allowed to keep it as most american Jews have dual citizenship)...when he says he works for the government...which one?
    3. Goldman Sachs handled the selling of an Insurance company that deals with health insurance of which Stanley Fischer was a huge part in building up according to the article.
    4. Ted Cruz- Establishments new boy on the block to carry on the agenda. With everyone upset about Obamacare and it's fiasco the new team player to come on the scene (but has been groomed for a long time..was G.W. Bush campaign worker/supporter, his wife Heidi worked for Goldman Sachs and he comes from Canada which has "Health care in Canada is delivered through a publicly funded health care system, which is mostly free at the point of use and has most services provided by private entities.[ It is guided by the provisions of the Canada Health Act of 1984"- wikipedia)

    When you put the pieces together, they fit quite nicely...that's what you get when you don't watch Tv and use your own brain for figuring things out. I may be altogether wrong...we will see soon enough.

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