The coming massive health insurance bailout

There is a reason why the Obama administration has pushed back the second-year start of enrollment to Nov. 15, 2014, from Oct. 15.  From Fox News

But remember this news story from last October where CNN reported that the Obama Administration warned insurance companies not to discuss Obamacare problems.

DREW GRIFFIN: “Anderson, what's going on is behind the scenes attempt by the White House to at least keep insurers from publicly criticizing what is happening under this Affordable Care Act rollout. Basically if you speak out, if you are quoted, you're going to get a call from the White House, pressure to be quiet. Several sources tell me and my colleague Chris Frates that insurance executives are being told to keep quiet. Bob Laszewski who heads the Health Policy and Strategy Associates, a consulting firm for big insurance and an outspoken critic of ObamaCare, says he is getting calls from these executives who want him to speak out, Anderson, for them about the problems because they feel defenseless against the White House P.R. team. Laszewski told me today, ‘The White House is exerting massive pressure on the industry, including the trade associations, to keep quiet.’ And sources telling us they feared White House retribution.” ANDERSON COOPER: “So, I mean, what specifically are, do they say that they're being told to keep quiet about?” GRIFFIN: “About the fact that clarifications were made to the Affordable Care Act after the law was passed and those clarifications are forcing the insurance industry to drop insurance plans that do not meet ObamaCare requirements. There's a lot of coverage now required in these plans. That was not part of many people's private health care plans. Those are the people, Anderson, who are being dropped and despite all the rhetoric, I should say, from the president, you simply cannot keep your current health care plan if it does not meet these requirements. Laszewski says the insurance industry is embarrassed about cancelling the plans but in an interview last week he told me the Administration was warned about this very scenario and ignored the advice.”
Meanwhile, you are already seeing huge increases in the cost of insurance premiums even before the problem discussed above goes into effect.



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