Wednesday, November 20, 2013

News and So Forth

The whole point of Obamacare is to gut company-paid insurance benefits, just as companies mostly gutted pensions thanks to congressional stupidity.

It's more proof neither political party is really representing "the people" anymore.

While attention has been focused on the technical problems plaguing the federal site and the state exchanges set up under the ACA, the real debacle is the abysmal product that is being offered for purchase. The health care law stipulates that certain coverage is mandatory and that people cannot be denied coverage for pre-existing conditions, but there is nothing in the law to prevent the insurance companies from pricing policies on their terms and inflating premiums, deductibles and co-pays to more than compensate for these mandated services.

Working people shopping for coverage are facing the cruel reality that the “affordable” policies being sold through the Obamacare exchanges constitute “insurance” in name only. The cheaper “bronze” policies include massive deductibles, in many states topping $5,000 for an individual and $10,000 for a family, which must be paid in full before insurance coverage even begins. Co-pays and coinsurance for doctor visits, hospitalizations and other services have been hiked significantly when compared to the current individual insurance market.

The insurance industry is trying to con people into taking the "cheaper" bronze plans, which don't pay for anything but the most catastrophic coverage, and even there, people are stuck with a large share of the medical bill, thus forcing more people into bankruptcy.

It's all a giant scam just like Obama's disastrous education policies.

Read the comments following the article talking about the bankruptcy of Ray's Food Place's parent company and the closure of some 16 of 60 stores.

It once again sounds like grotesque mismanagement and outright theft of 401(k)s are to blame.


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