Will Obamacare destroy the health insurance industry?: Was this the plan all along?

My own guess is that this disaster is from hubris and incompetence.  Democrats simply thought that they knew better how to run industries than the people who have their money on the line would know.  Moody's is also concerned about The Hill calls the "string of unilateral changes and delays" in how the Obama administration is administering the law.  From The Hill newspaper:
Moody’s announced Thursday it was downgrading its outlook for health insurers from stable to negative based on uncertainty related to ObamaCare.
The credit rating agency cited an unstable environment because of the healthcare law’s difficult rollout . . . .
“While we’ve had industry risks from regulatory changes on our radar for a while, the ongoing unstable and evolving environment is a key factor for our outlook change,” Moody’s Senior Vice President Stephen Zaharuk said in a statement. “The past few months have seen new regulations and announcements that impose operational changes well after product and pricing decisions were finalized.”
The Moody’s report also cites the slow enrollment of young people into ObamaCare as a reason for the downgrade.
“Uncertainty over the demographics of those enrolling in individual products through the exchanges is a key factor in Moody’s outlook change,” the ratings agency said.
Citing statistics released by the administration, it noted that so far about 24 percent of enrollees are between the ages of 18 and 34, while a target of 40 percent may be necessary to keep premiums from rising in the future.
It said the 24 percent of young people enrolled so far is “well short” of the 40 percent target. . . .

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Blogger August said...

They are just that stupid.
If they had a plan, the prices would have been dirt cheap at first, to get everyone signed up.

2016: zombie socialists v.s. zombie nationalists. Fighting a global war to make the world safe for the word 'democracy' so that middle aged women with short hair can rule the word via committee.
Because at the end of the day, they are all zombies and they just want to prey on us.

1/24/2014 9:30 AM  
Blogger dwb said...

rating agencies would have a tad more credibility in my mind if Maryland were not a AAA rated state. It's kind of absurd that maryland can play accounting gimmicks to pretend the budget is balanced, miss revenue estimates often, have large deficiencies each year, and have large unfunded pension liabilities (and, one of the tricks this year to balance the budget is to permanently lower pension funding again), yet still have a AAA rating.

But, yes, a lot of progressives want single payer medicare so if destruction of the health insurance industry comes as a side effect (or through sabotage) they are all for it.

1/24/2014 1:01 PM  

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