With her embrace of the “public option” for Obamacare, Hillary Clinton has signaled that her election will complete the long-sought Democratic holy grail: fully-socialized, government-run health care.
The consequences cannot be understated. Americans will be taxed to pay for faulty care, and thousands or millions will die unnecessarily as a result. Meantime, the rich will simply find the remaining good doctors, who don’t take insurance, and keep themselves healthy — assuming there are any decent hospitals left when a stay is required. And assuming, too, that doctors are permitted not to take insurance.
The “public option” was rejected in 2010 when Congress barely passed Obamacare, but the Left is patient. And the time to finish the job is coming soon. Clinton included it in her recently released health care plan, and it’s become the talk of President Obama and other Democrats.
The public option — which is in fact the government option — will put private insurers out of business because it is funded and backstopped by taxpayers. So it can undercut the private insurers with lower rates and make up its losses by taxing you.
Private insurers are already struggling to make a profit in the Obamacare exchanges. Having the government as a competitor will remove them from it completely.
Take the latest example. Politico reports the North Carolina Obamacare exchanges have become a “financial sinkhole.”
For the insurance companies doing business in the state–the ones issuing policies to those 600,000 people–Obamacare has turned into a financial sinkhole. UnitedHealth Group, the nation’s largest insurance company, is pulling out of the Obamacare business in North Carolina next year.
Blue Cross Blue Shield of North Carolina, which dominated the individual market with more than a half-million customers, reported that losses on its Obamacare business in 2014 and 2015 topped $400 million. The insurer said that figure includes government payments designed to shield insurers from big losses during the early years of Obamacare. The only other current competitor, Aetna, wants to hike rates by nearly 25 percent next year.
Clinton had hesitated to back the public option, but that was probably just because she thought it wouldn’t sell in the general election. Bernie Sanders pushed her to embrace it, and no doubt it’s where her heart is.
And it’s where you tax dollars may be next year.