Even The New York Times Thinks Obamacare Is A Disaster - It's "Too Expensive And Inaccessible"

Tyler Durden's picture

You know that you've failed as a democratic law maker if even the New York Times trashes your signature "achievement" as "too expensive and inaccessible."  Unfortunately for the Obama administration, that is exactly how the Times chose to describe Obamacare concluding that it will "almost certainly have to change to survive."

Mr. Obama’s signature domestic achievement will almost certainly have to change to survive. The two parties agree that for too many people, health plans in the individual insurance market are still too expensive and inaccessible.

For once, we would tend to agree with the New York Times as we've recently pointed out the epic collapse of carrier coverage across the country and soaring exchange rates for the 2017 plan year (see "Stunning Maps Depict Collapse Of Obamacare "Coverage" In 2017" and "Obamacare On "Verge Of Collapse" As Premiums Set To Soar Again In 2017").

First, the number of health insurance providers pulling out of exchanges for the 2017 plan year has left a staggering number of counties across the country with only 1 insurance "option."

2016 healthcare insurance carriers by county:

Obamacare 2016

 

2017 healthcare insurance carriers by county:

Obamacare 2017

 

Meanwhile, premiums across the country are expected to soar in 2017.

Obamacare Premium Map

 

But for those of you who may be jumping to the conclusion that the New York Times finally came to the realization that modern-day government bureaucrats are potentially the worst allocators of capital ever in history, we have some bad news because apparently the Times' is "calling for more government, not less."  Which has Senator Merkley and 32 other Senate democrats calling for a "public option."  

“Supporters of the public option warned that private insurance companies could not be trusted to provide reliable coverage or control costs,” said Richard J. Kirsch, who led a grass-roots organization that fought for passage of the Affordable Care Act in 2009 and 2010. “The shrinking number of health insurers is proof that these warnings were spot on.”

 

On Sept. 15, Senator Jeff Merkley, Democrat of Oregon, introduced a resolution calling for a public option. The measure now has 32 co-sponsors, including the top Senate Democrats: Harry Reid of Nevada, Chuck Schumer of New York and Richard J. Durbin of Illinois.

 

“You need competition to make the exchanges successful,” Mr. Merkley said in an interview. “A public option guarantees there’s competition in each and every exchange around the country.”

But with most insurers around the country complaining that they're losing $100's of millions on the Obamacare exchanges, it's no wonder that Senate Democrats would call on the only investors in the world that are willing to consistently lose money offering a service: the American taxpayer.  If at first you don't succeed just throw more tax dollars at it.

But, Andrew Slavitt, of CMS, still sees hope for Obamacare arguing that subsidies just need to be higher and penalties need to be raised to force more young, healthy people to purchase a product they don't need.

Andrew M. Slavitt, the acting administrator of the Centers for Medicare and Medicaid Services, said the administration was taking steps to ensure “a stable, sustainable marketplace” — by increasing payments to insurers for “high-cost enrollees” and by curbing any abuse of “special enrollment periods” by people who sign up for coverage after they become sick. In addition, federal officials are redoubling efforts to sign up young adults.

 

“Even the most ardent proponents of the law would say that it has structural and technical problems that need to be addressed,” she said. “The subsidies were not generous enough. The penalties for not getting insurance were not stiff enough. And we don’t have enough young healthy people in the exchanges.”

Oh well, at least we can still agree that Obamacare is "too expensive and inaccessible" even if we're not convinced that the facts would support the creation of yet another entitlement ponzi scheme.

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Bryan's picture

When liberals start saying that Obamacare is not working, you can bet one-payer, nationalized healthcare is not far behind.  It's all working according to plan.

jcaz's picture

A magnficent tribute to the legacy of Nancy Pelosi- along with Barry,  they truly sent healthcare coverage into the abyss......

buzzsaw99's picture

they changed it from health care to sick care. now the sickest people who make no effort to take care of themselves or keep their medical costs down have insurance and all the healthy people drop out. consequently insurance premiums have quadrupled. owebomba's peeps don't care because they aren't paying for it anyway.

CaptainObvious's picture

If you open the spigot full blast and leave it open, eventually the water will run out.  It doesn't matter how many eyedroppers full of water are slowly placing one drop at a time back in the cistern.  You need a fire hose to fill that motherfucker.  The American tax donkeys can't afford that fire hose.

JRobby's picture

Inaccessible? ?? Not for the hundreds of thousands that are defrauding it.

Billy the Poet's picture

I will not accept a government doctor. Lois Lerner, MD, anyone?

pathosattrition's picture

Demographics will bring the insurance model of health care to its knees.

Billy the Poet's picture

Government regulation and interest rate manipulation wll bring the insurance industry to its knees

lance-a-lot's picture

The DISASTROUS "ACCOMPLISHMENTS" of Obama: https://goo.gl/7vUdsL

JRobby's picture

"Accepting" will have nothing to do with it when they are harvesting your organs (without anesthesia)

Billy the Poet's picture

All they'll get from me is the proverbial cold, dead hands.

TBT or not TBT's picture

You'll take the pain pill, for the common good.

Billy the Poet's picture

 

 

Billy the Poet is a so-called nothinghead who refuses to take the ethical birth control pills and tries to seduce Ethical Suicide Parlor hostesses

 

https://en.wikipedia.org/wiki/Welcome_to_the_Monkey_House_(short_story)

Creative_Destruct's picture

"Lois Lerner, MD, anyone?"

Not a wise choice. She'll just tell you you're "fit for service" even when you're at death's door.

dr kill's picture

O how I wish the people here would stop calling this shit 'insurance'.

dr kill's picture

O how I wish the people here would stop calling this shit 'insurance'.

Kidbuck's picture

Gay marriage and Obama care are linked hand in glove in NYTimes Reporters' minds. Gay marriage allows them to put their uninsurable AIDS infected boy friends on their family health policy. Obama care allows them to off load their costs to the straight middle class that they detest.

East Indian's picture

Obama's greatest legacy is that he made it easy for the Chinese to aspire for world leadership.

RiverRoad's picture

Sorry guys - too late to climb on the band wagon....

Swamp Yankee's picture

Being forced under penalty of law to buy something that you don't want and can't afford:  what could *POSSIBLY* go wrong?

Billy the Poet's picture

"This redistribution of wealth is trickier than I thought."  -- Dennis Moore.

rlouis's picture

Better trash it in case Hilla wins - can't be saddled with this crap.

Hohum's picture

Believe it or not, it's going to stay.  It has benefitted a few people (40+ million were uninsured) and the insurance companies may moan but they'll live with it.  After all, they wrote the legislation.

CoastalCowboy's picture

I know more people who have been ass reamed by it than have been "helped".  We stay far, far away from it.  The prices are basically another mortgage payment for "insurance" that simply stinks.

This fiasco brought to you by the former party of the working man now being sold to the highest bidders.

buzzsaw99's picture

Oh, is someone not
feeling well?
Your illness
is very important to us.
- [ Man ] Next.
- [ Electronic Voice] Welcome
to the Healthmaster Inferno...
- powered by Jormi Technology.
- Uh, this goes in your mouth.
This one goes in your ear.
And this one goes in your butt.
Come on.
- Hurry up, asshole!
- Come on!
- [ Beeping ]
- Shit. Hang on a second.
This one- No.
- Hey, come on.
- Uh-
- Hurry up!
- This one. This one goes in your mouth.

onewayticket2's picture

called it.  Here comes Single Payer.  way ahead of obama's schedule (but he has to get it started bc the clintons will surely take credit for it all if he doesnt)

Billy the Poet's picture

Put me down as a single ain't payin'.

blindman's picture

and don't forget welfare for the rich insurance sector
in a time of need and third world health care in the
usa.

Shizzmoney's picture

It's gonna go over real well when those who make less that 40k/year have to shuffle all of their refund money not towards a purchase for something they need, like a bed or a TV or a dishwasher or clothes, but instead towards paying off a middle man (while insurance stock go through the roof).  And they wonder why retail sales and GDP is crumbling.

THis is some bullshit, man.

1980XLS's picture

Wow,

Those NYT people are a bunch of Racists

TheAntiProgressive's picture

Dear NYT Progressive idiots,

The majority of America knew this was the end game.  "WE TOLD YOU SO, YOU MORONS".  And FU John Roberts you putz.

 

Mr. Bones's picture

Remember "it's not a tax"

Followed by, "haha, it really was a tax we fooled you so hard"

It strikes me how shit they are at this game.  Gruber was right though.

Hey Assholes's picture

The purpose of obombya-care is to wreck the health insurance "market" so that everyone will be begging for the government single payer system. Gee, I remember the 50's and 60's when medical care was cheap (so was everything I guess) and the doctor made house calls. They fixed it.

"Socialism is a philosophy of failure, the creed of ignorance, and the gospel of envy. Its inherent virtue is the equal sharing of misery." - Winston Churchill

localsavage's picture

The problem is that everyone is starting to say that it is a POS but I haven't heard one person say that they want single payer.

TBT or not TBT's picture

They don't say what they want out loud, but they'll Alinsky it all the way to Cloward and Piven time and then, after a landslide of electoral stupid gives them supermajorities, they'll just do it.

CaptainObvious's picture

Who cares how much the penalties are for not complying with the illegal law?  The penalties are so ridiculously easy to get around that it doesn't fucking matter.

You can either A:  arrange things so that you don't get a refund ever again; B:  deliberately pay a utility late so you get a shut-off notice; C: join a health sharing program (such as Liberty Health Share) and avoid typical insurance; D:  disconnect from the matrix and go completely underground.  Choose one and send the gubmint a flying middle finger.

bidaskspread's picture

Nothing about low yields in the market caused by the FED which has a direct impact on insurance premiums? 

TBT or not TBT's picture

Nothing about lack of any action that would increase the supply of medical care(doctors, staff, facilities..medical school enrollments.) nor action that would introduce competition amongst them not action that would reduce bureaucratic costs/.

Francis Marx's picture

In all of his disastrous run as president, I don't think he will really care being he will be making a million dollars for 30 second speaker fees at Goldman sach and numerous other banks when he gets out. 

Itchy and Scratchy's picture

Awww common! How can paying for 100% of the healthcare costs for 100m freeloaders and paracites be too expensive and too inaccessible? 

I Write Code's picture

Just got the note from Blue Cross my policy goes up 23% next year in California, so don't try to lay no 1% rate of increase on me.

Itchy and Scratchy's picture

Welcome to the Kenyan's 'Dreams of My Father Amerika!'

The joys of institutionalized socialism!  

TBT or not TBT's picture

Dreams of my biological father Frank Marshall Davis the card carrying commie and amateur pornographer who was involved with bammy's dark-dong loving anti-American mom at just the right time. But yeah.

CalifornianSeven's picture

I buy the healthcare take-over plans for our company and ours will rise 20-40% depending on the renewal I choose...but take heart the out-of-pockets and deductibles only increased 50%....doh....

big-data's picture

Understanding the Immensity of US Healthcare’s Impact on GDP Growth

To better understand the immensity of US healthcare costs and its growth rate, think of those costs as a percentage of US GDP and compare those numbers with other country’s GDPs:

US GDP (est.) 2016: USD 18.6T

Healthcare cost as % of GDP: 17.5% (2014 per CDC) | Note: this will be much higher in 2017 given projected cost increases from Obamacare. US healthcare is growing faster than the Chinese economy (10% vs. 6.5%).

The arithmetic:

17.5% of USD 18.6T = USD 3.26T

US healthcare costs presently are close to the fourth biggest economy in the world, Germany, at USD 3.47T (per IMF), right behind Japan at USD 4.4T.

A growth rate of 10% on USD 3.26T = USD 326B; just the growth amount from 2016 to 2017 is the equivalent of adding the GDP of the United Arab Emirates (USD 325B) or Hong Kong (USD 322B) and from 2017 to 2018 at 10% is USD 359B, very close to adding the GDP of Norway (USD 367B).

At a compound annual growth rate (CAGR) of 10%, US healthcare costs will reach Japan’s GDP of USD 4.4T in just 2 years (USD 4.34T in 2018) or at a CAGR of 8% in 3 years (USD 4.43T in 2019).

A lot more than this here folks...

https://medium.com/deepconnections/prevailing-gray-swans-7-september-30-2016-8c1df681fd52#.3dur3xv1v

dr kill's picture

Does anyone still read the NYT or WaPo> Seriously.

TBT or not TBT's picture

Effete virtue signaling pseudo-intellectual society climbing posers will tell you out loud they take the NYT and lovingly read it through and through Sunday mornings. Or the SF Chronicle say.

CalifornianSeven's picture

Only self-proclaimed pseudo-intellectuals who like to live in the same bubble as the beltway types...

Bennie Noakes's picture

... describe Obamacare concluding that it will "almost certainly have to change to survive."

If you thought the disease (Obamacare) was bad, just wait until you see the cure (Hillarycare).