One of the favorite mantras of socialists is that the profits earned by capitalist corporations is “waste” that doesn’t exist if government runs things itself.
Hawaii is terminating its Obamacare exchange.
Now that the Federal subsidies are winding down, Hawaii has spent $130 million to cover 8,200 people, which works out to $17,000 per person. The article doesn’t mention how many people have been added to Medicaid.
Now that the Supreme Court removed the carrot of allowing subsidies only to states that set up their own exchanges, the article predicts that many states will turn over control to the Federal exchange run by HHS.
Anthem (who runs Blue Cross for Federal employees and states without their own local BC/BS franchise) is taking over CIGNA, one of the largest private health insurers. Aetna, which already bought Coventry (the other national health insurer in the Federal exchange) is buying Humana
http://www.courier-journal.com/story/money/companies/2015/07/22/humana-boosted-ceos-package-aetna-deal/30533719/. Golden Rule was acquired by United HealthCare.
Pretty much all of the remaining health insurers are imploding. Employers are moving to self insurance or private pooling to stay out of the Obamacare net.
I told my M.D. niece that the Obamacare plan to destroy private insurance is right on track, and single payer is about two years away, and that doesn’t depend on who wins the elections. “Repeal and replace” will have no insurance business to return to. The only two remaining options will be Blue Cross or Medicare being the Federal single payer. If blue Cross declares bankruptcy, it is “game over”
If Medicare and Medicaid become the single payer, there will be nobody left for hospitals and doctors to “cost shift” to, and they will quickly collapse, requiring government taking over providing health services as well. Kaiser Permanente is waiting in the wings.
Cuba pays its doctors $75 a month and is busy training Americans to return to the United States to spread the revolution. It takes a long time to pay off the loans for a medical education making $75 a month. My niece is a Socialist and supports Bernie Sanders. I’m seriously thinking of supporting him, too.