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General discussion

Obamacare is Failing, Insurance Companies Dying

by James Denison Sep 30, 2015 9:43AM PDT

What a mess for any Republican elected to Presidency to clean up after Obama's through ghetto-izing our health care system.

The Failure of Obamacare.

"Bad news for New Yorkers, thanks to ObamaCare: More than 100,000 policyholders just learned that their Health Republic insurance plans will be canceled on Dec. 31. The start-up insurer (spun off from the Freelancers’ Union) is hemorrhaging red ink and has to close down.

That’s unfortunate for the policyholders, who now have to scramble to find other coverage and try to keep their doctors.

Congress loaned a whopping $2.5 billion of taxpayers’ money to Health Republic of New York and 22 other boondoggle insurance co-ops, even after being warned by its own budget experts that many co-ops would fail and not repay the loans.

If anything, the experts’ warnings were understated. Across the nation, 21 out of the 23 co-ops are either shut down already or losing money. "

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