DEATH SPIRAL: Obamacare Just Got The Worst News EVER! Less Than One Year To…

Obama is not a well man.  How could he be after seeing his legacy destroyed, not by the man he loathes so much, but by the fact that all his accomplishments were complete failures?

Ever since the passing of Obama’s “Affordable Care Act,” everyone who know anything knew it was in deep trouble.

We understood that the government should not be regulating something as complex and personal as health care. The heavy-handed, Socialist approach the left use with everything only serves to destroy the integrity of the free market, and creates shocking, unexpected problems.

Since Obamacare went into full effect in 2014, the cost of health care in this country skyrocketed. Even people not using the program suffered from steep premium hikes. Those unfortunate enough to use Obamacare saw their choices limited and their prices rise, the exact opposite of what Obama promised.

Now that we’re a few years in, the problem grows only worse. Major health care providers have dropped out, citing staggering losses. Those companies still unlucky enough to stick around have to raise their prices higher and higher, only adding to the health care burden of families.

From Bloomberg:

Aetna Inc. Chief Executive Officer Mark Bertolini escalated his criticism of the Affordable Care Act, saying Obamacare’s markets are nearing failure as premiums climb and healthier individuals drop out.

“It is in a death spiral,” Bertolini said in a video interview with the Wall Street Journal that aired Wednesday on the newspaper’s website. He predicted that more insurers will drop out of the market for 2018, following Humana Inc.’s decision to quit Obamacare entirely for next year.

Aetna, too, is mulling whether to further reduce its presence in the markets set up by the ACA. The company cut its footprint to four states for this year, from 15, after losing about $450 million on sales of ACA plans last year.

Any reasonable CEO would say what Bertolini is saying. How can they stick around in a program that is punishing people, rather that rewarding them? Companies cannot make money, families cannot afford health care. Meanwhile hospitals, pharmaceuticals, and doctors increase their prices, in hopes of exploiting the government-backed program.

The only solution, as President Trump has said time and again, is to repeal and replace Obamacare. We need to create an environment that invites competition among health care providers and insurance companies. We need to give Americans many options to choose from, so they can pick the best program at the best price.

Until that happens, Obamacare will only continue to fail.

Source: Bloomberg

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