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Obamacare: the news from Massachusetts just keeps getting worse

Now that Obamacare has passed, according to Speaker of the House, Nancy Pelosi (D. Ca.), we can see what’s in it. But, rather than try to read all 2700 or so pages of the bill, let’s look at Obamacare in action.

I did a post a few weeks ago about the circumstances facing the largest insurance companies in Massachusetts.  Three of the largest four health insurers posted operating losses for 2009, and, to no one’s surprise, they requested that the state approve premium increases for 2010.  In response to these requests, not only did the state deny the increases, but, Governor Deval Patrick has insisted that,

price controls are the sensible response to this ostensibly industry greed.

Before you buy into the Governor’s argument about “industry greed’ you need to know that each of these three insurance companies is a non profit. 

In an emergency suit heard in Boston superior court yesterday, they argued that the arbitrary rate cap will result in another $100 million in collective losses this year and make it impossible to pay the anticipated cost of claims.

So, each of these companies have simply stopped selling new policies.  In response, the state has ordered them to continue selling new policies, at last year’s approved premium rates, or face fines.  Interesting…last year’s rates caused the companies to lose money, and under threat of  fines, the companies must continue to use those rates, thereby incurring additional losses for 2010.  Maybe the fines would be cheaper than the eventual losses.

One irony is that Mr. Patrick’s own Attorney General and his insurance regulators have concluded–to their apparent surprise—that the reason Massachusetts premiums are the highest in the nation is the underlying cost of health care, not the supposed industry abuses that Mr. Patrick and his political mentor President Obama like to cite.

But, it gets better.

Massachusetts (as will Obamacare) requires that insurance companies must insure anyone, regardless of their physical condition at the time, and, that the “sick” can not be charged a higher premium than the healthy.  So, people are ignoring the mandate that they must have insurance,  only purchasing insurance when they get sick, and dropping coverage when they are healthy again.  The Harvard Pilgrim health plan reported that,

[b]etween April 2008 and March 2009, about 40% of its new enrollees stayed with it for fewer than five months and on average incurred costs about 600% higher than the company would otherwise have expected.

And,

This week Blue Cross Blue Shield reported a big uptick in short-term customers who ran up costs more than four times the average, only to drop the coverage within three months.

What does that practice do?  It places insurance companies in the unenviable position of paying out far more in claims for these people than it collects in premiums from these people.  Absent Governor Patrick’s price controls, that drives up premiums for all, thus forcing people to drop coverage until they become sick.  And, the cycle goes on.

Were I a resident of Massachusetts I would be concerned that in the not to distant future there will be no company willing to write health insurance in Massachusetts, as, somewhere along the line, the existing companies will become insolvent.

More proof Obamacare will not work

The lead article in Thursday’s Boston Globe should be required reading for our president, and all those in Congress who are still pushing for Obama’s health care legislation. The Massachusetts health care law, upon which Obamacare is based, is falling apart at the seams.

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Bush got C’s … Obama probably failed lunch

I am always sensitive to Hitler references because the man was a monster and the memories, still today, too fresh. But this is pretty funny because the analysis is so spot on. So I make the exception. “How do you blow a 30 point lead, in Massachusetts? This was Kennedy’s seat.” He, he, he. (Via Instapundit.) Read more

The people’s seat! UPDATE: How’s last week’s prediction look now?

He calls it a victory for independents, not once but three times. He says he will be seated immediately. The crowd chants. He says it is the people’s seat. And the crowd goes wild. It’s a must watch. Read more

Coakley union thug: Get out of here you Nazis!

Priceless. I was not going to post again until after the result are in, but this video courtesy Real Clear Politics is awesome. This is what the Democrat party is all about now. Out of state union thugs telling people to “get the f%$# outta here.”

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Absentee ballots in Massachusetts on election day?

You would think absentee ballots would be one of those documents strictly controlled, not something a community activist would have stacks of. Except of course…

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Obama plans to head to Massachusetts to campaign for Coakley

Ben Smith over at Politico is reporting that President Obama will visit the Bay State prior to Tuesday’s special election for US Senate. With one poll indicating Massachusetts Attorney General Martha Coalkey is down by four points, they need to call in The One.

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Forget principles, will Obama visit help Coakley or hurt Obama?

This kind of crap is why the political elite has terrible favorably ratings. It’s not standing up for your principles, rather purely a political game. If Coakley and Obama are on the same political page, Obama should step out and support her, but Rham Emanual is measuring the polls to ensure action does not hurt Obama.

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Prediction – Brown beats Coakley in Massachusetts US Senate showdown

Personally, I’m not going to make a prediction as I’m assuming things can swing big-time this weekend. But, I was speaking with Jim on Wednesday night and he flat out told me Scott Brown was going to win in Massachusetts. Today, he asked me to post his prediction.

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Why the health care industry is behind Coakley in Massachusetts

Speculation everywhere concerning why health care insurance and pharmaceutical companies are tossing money at Massachusetts Attorney General Martha Coakley in support of her bid for Senate. When you’re a big company, you’ve got to play both sides.

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