Yeah, yeah, everyone has covered this, but, from the Department of Who Woulda Thunk It
Some of the country’s most prominent health insurance companies have decided to stop offering new child-only plans, rather than comply with rules in the new health-care law that will require such plans to start accepting children with preexisting medical conditions after Sept. 23
The companies will continue to cover children who already have child-only policies. They will also accept children with preexisting conditions in new family policies.
Three insurers – WellPoint, Cigna and CoventryOne – all cited uncertainty in the health insurance market for their decisions. That incertitude and the resulting decision of other insurers to drop their child-only plans, according to WellPoint spokeswoman Kristin Binns, “has created an unlevel competitive environment.”
CoventryOne spokesman Matthew D. Eyles said that the insurer was facing “unique challenges that could undermine our ability to offer value and meet our continued obligations to existing policyholders.”
In plain English, that means “ObamaCare mandates will cause us to lose money, and, unlike the federal government, we cannot operate with deficits.”
But, this is not a bug in ObamaCare, it is a feature. What happens next is that Democrats whine about how mean the insurance companies are, and, since they refuse to “lose money to comply with your sense of right and wrong“, well, we need full Single Payer. Certainly, some of what has and will happen will be a shock to many ObamaCare supporters, those who crafted much of the legislation knew what would happen, and they want it to happen.
Sister Toldjah points out: Now that ObamaCare has passed, insurance companies have to deal with the new costs imposed by the legislation. Since the government threatens to break their legs if they raise prices, there’s only one rational response: cut services.
Wake Up America: Fact: If you interfere and create a bunch of laws to stop them from turning a profit, they will stop offering their product if it will lose them money. PERIOD.
