We Told You So

Sometimes, being right stinks.

The New York Times reports that "Health insurance companies across the country are seeking and winning double-digit increases in premiums for some customers, even though one of the biggest objectives of the Obama administration's health care law was to stem the rapid rise in insurance costs for consumers."

"Even though"? In fact, Obamacare is simply doing what a lot of people predicted it would. Critics of ObamaCare warned that it would produce precisely the kind of premium increases we are now seeing, for precisely the reasons that new reports are now citing.

I was one of those critics, and I take no joy in pointing out that we told you so.

 

Comments

[J. Reed Anderson]

The bedrock insurers, Blue Cross-Blue Shield, Humana, Kaiser, et. al., all feared the talk in states that perhaps it was time to open health insurance to the same competition auto, home, life, etc., had. Thus, they sought to keep their control of the health insurance market with legislation. They never figured that as the nationalization of their industry occurred, they, the supporters and financiers of honoraria, consultants' fees, and whatever else can be laundered through LLCs, that they would actually lose their companies to a government agency. Now they've got to make money fast, and lots of it. Deals with the devil.