Obamacare Set To Drive New Wave Of Hospital Bankruptcies

Tyler Durden's picture

Back in 2008, one of the biggest arguments in favor of Obamacare was that the legislation would help alleviate bad debt at hospitals created by people who required emergency care but didn't have health insurance or the financial means to cover their treatment.  Of course, like most promises made about Obamacare, the exact opposite of the Left's original theories has played out in reality as restructuring lawyers are now warning that the healthcare industry is about to experience a massive wave of hospital bankruptcies.  Per Bloomberg:

A wave of hospitals and other medical companies are likely to restructure their debt or file for bankruptcy in the coming year, following the recent spate of failing retailers and energy drillers, according to restructuring professionals. Regulatory changes, technological advances and the rise of urgent-care centers have created a "perfect storm" for health-care companies, said David Neier, a partner in the New York office of law firm Winston & Strawn LLC.

 

Some signs are already there: Health-care bankruptcy filings have more than tripled this year according to data compiled by Bloomberg, and an index of Chapter 11 filings by companies with more than $1 million of assets has reached record highs in four of the last six quarters, according to law firm Polsinelli PC. Junk bonds from companies in the industry have dropped 1.4 percent this month, a steeper decline than the broader high-yield market, according to Bloomberg Barclays index data.

 

Since 1997, health-care cases have made up only 5.25 percent of all U.S. bankruptcy filings, according to Bloomberg data. Year to date, they already comprise 7.25 percent of all filings. Emergency-room operator Adeptus Health, cancer-care provider 21st Century Oncology, and cancer treatment specialist California Proton Treatment are the largest filings. Those statistics exclude pharmaceutical company Concordia, which is restructuring in Canada, and Preferred Care Inc., one of the U.S.’s largest nursing home groups, operating 108 assisted living facilities.

Hospital

So what has caused the sudden onset of hospital failures?  Well, because Obamacare's architects were so certain their legislation would completely eliminate uninsured citizens in the U.S., they decided to offset the costs of the "Affordable Care Act" by eliminating subsidy payments to hospitals that had previously been used to cover losses from treating uninsured patients...

Hospitals, including private rural ones, may be among the hardest hit, Winston & Strawn’s Neier said. The Affordable Care Act, known as Obamacare, reduced payments to hospitals that serve a large number of poor and uninsured patients, known as "disproportionate share hospitals," on the theory that more patients would be insured under the law. Congress delayed those cuts several times, but didn’t do so for the current fiscal year, which may "single-handedly throw hospitals into immediate financial distress -- many operate on less than one day’s cash,” he said in an interview.

 

"Smaller hospitals have already been struggling for years,” said Kristin Going, a partner in the New York office of Drinker, Biddle & Reath LLP. Both lawyers declined to discuss specific companies. Since 2010, a growing number of patients have enrolled in high-deductible health plans that force them to shoulder more of costs when they get treatment, according to the U.S. Centers for Disease Control and Prevention. That has translated into more bad debt from customers for hospitals and other providers.

 

Some publicly traded hospital companies that were already under pressure from high debt loads have been further buffeted by this year’s hurricanes. Community Health Systems Inc., with $1.9 billion in debt maturing in 2019, has suffered doctor revolts over crumbling, cash-strapped facilities, as well as losses linked to the storms in Texas and Florida earlier this year. A representative for Community Health didn’t return a call seeking comment.

...of course, here in reality, things didn't quite play out so perfectly as surging Obamacare premiums have pushed more and more people into  high deductible plans or have forced them to forego insurance altogether and opt instead to simply pay the tax penalties levied by the legislation.  Shocking that folks could simply absorb a doubling of their healthcare premiums in 4 years.

Just more proof that Obamacare is working perfectly and should be left just as it is...

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DaveA's picture

From a Hemingway novel:

"How did you go bankrupt?"

"Gradually at first, then suddenly."

It's sort of like skydiving without a parachute -- you still feel fine 0.01 seconds before hitting the ground.

Vilfredo Pareto's picture

You are correct.   A previous CEO at SParks hospital told us he once tried to dig into the financials and get a clear picture of costs and revenue.   He said he gave up and just knows that if he has more money at the end of the month than bills he is all right.

pashley1411's picture

Which is why Trump should have left Obamacare to die under its own waste.

Its seems impossible that a sector of the economy could be tanking would the goverment has sent nearly 20% of GDP to it.  

Vilfredo Pareto's picture

Yes it may seem impossible, but if the government regulated the desert the way it regulates healthcare there would soon be a shortage of sand.  It would be hugely expensive and poor peeps who wanted it would have to be subsidized.

To Hell In A Handbasket's picture

Don't you Yankee fools get it by now? Obamacare was a scam from its inception. Yes the retarded Republican supporters, blamed the retarded Democrats for passing this legislation and name calling was thrown about.

Now the Kenyan nigger is gone and guess what? The frugal GOP is keeping this gravy train chugging along for their health insurance paymasters. IE; Just another branch of Banksterism. Orange Jesus has been in power for almost 1 fucking year. Both houses belong to the Republicans and guess what? No fucking repeal. I wonder why? The uni-party serve the same fucking masters and never forget it.

Now back to the NFL and kneebenders, as solving this issue will solve all other USSA issues. Orange Jesus promises jam tomorrow, jam yesterday, but never jam today. Hey, look Squirrel......  

Fantasy Free Economics's picture

When lobbyists write healtcare laws, the benefits filter down the healthcare food change according to the level of political power of the various industries and professionals. There is a limit to how much the public can be fleeced even when the public doesn't mind being fleeced.

http://quillian.net/blog/fantasy-free-healthcare/

It is a mistake to think every participating healtcare participant is coming out ahead in the feeding frenzy. Doctors can no longer maintain their standard of living and actually spend time with patients. Pharmacies are now having their pharmacists serve as telephone solicitors calling customers and recommending drugs. Somehow the pharmacies get the results of patient's blood tests. Surely the insurance companies give them the information. I don't know a thing about hospital's bottom lines. Lobbyist written bills are now hurting some in the industry.

 

Md4's picture

First, this:

"The Affordable Care Act, known as Obamacare, reduced payments to hospitals that serve a large number of poor and uninsured patients, known as "disproportionate share hospitals," on the theory that more patients would be insured under the law."

Then, this:

"Since 2010, a growing number of patients have enrolled in high-deductible health plans that force them to shoulder more of costs when they get treatment, according to the U.S. Centers for Disease Control and Prevention. That has translated into more bad debt from customers for hospitals and other providers."

So, what does all THAT tell you healthcare providers and "administrators"?

The message will likely take much more carnage to penetrate these obfuscating and stubborn institutions, but, we can sum it up by saying:

Healthcare is waaaay too expensive in this country.

This is NOT an "insurance" problem.

This IS, and ALWAYS HAS BEEN, a cost of care problem.

Healthcare ITSELF needs to tackle the problem IT largely created.

Get to work, healthcare...

hound dog vigilante's picture

 

largely agree... but 'insurance' is perhaps the primary reason that healthcare administration is so hopelessly bloated... unnecessarily complex relationships b/t hospitals/clinics & the insurance industry are at the heart of bloated healthcare administration.

 

but to your larger point, yes, the size & cost of "administration" is ridiculous.  this same 'administration' phenomenon has also crippled higher education in the US.

 

40 years ago:  HEALTHCARE administrator-to-doctor ratio = 1/5

40 years ago:  EDUCATION administrator-to-professor ratio = 1/10

 

today:  HEALTHCARE administrator-to-doctor ratio = 1/1

today:  EDUCATION administrator-to-professor ratio = 1.5/1

 

following an age of IT-driven efficiency & automation (which has transformed private sector industries), the ratios above are laughable... almost unbelievable.

 

neither US healthcare nor higher education will survive the inevitable market-driven efficiency revolution that they have been dodging for decades.  the gov't sanctioned largesse that has run rampant in both of these simple, utility-level funtions will soon come to an end, one way or another.

swmnguy's picture

Neither health care nor higher education function well in a Finance-driven environment.  It's just a Finance Sector looting operation at this point.  Force everyone to buy a product, jack up the price, slash the quality.  You see it everywhere Finance has taken control.  And the results are the same regardless of the industry.  It's Finance, and the Corporate Management model working hand in hand.  It's OK as long as people can choose not to participate.  But when they have to, there's nothing to prevent the looting.

hound dog vigilante's picture

 

financialization of the global economy is a problematic phenomenon, but it is NOT the root of the primary problems in US healthcare & higher education.

the root of healthcare & education's problems are gov't mandates & subsidies.  financialization is indeed a major economic/social problem, but it is only perpheral to the issues effecting healthcare & education, IMO.

hound dog vigilante's picture

 

addendum:  note how "administration" only becomes pathologically bloated in sectors that are heavily subsidized by government... this correlation is obvious, but I wanted to make it explicitly clear here.

 

more government = more inefficiency.  this truth is the basis of all the Right's electoral & governing success - from Buckley & Goldwater to Reagan to Trump & the Tea Party... 

when Paul Ryan & Mitch McConnell refuse to introduce legislation that isn't "revenue-nuetral", they are digging their own graves.  a "conservative" party that actively supports & funds ever-larger government & waste is simply NOT conservative.

Ryan & McConnell think they are the leaders of america's 'conservative' party.  They are dead wrong.  In truth, Trump/Cruz/Paul/et al. are the de facto leaders of the "conservative" party.  Ryan & McConnell & the GOPe'rs are now a rump party that leads & governs no one... their only constituant is globalist finance.  Dems share this singluar constituant (global finance) with the GOP. The Left's true leadership is Bernie Sanders & Elizabeth Warren, not Schumer & Pelosi.  Both parties have a latent civil war brewing within...

We are quickly becoming a 3+ party nation... Progressive socialists on the Left, globalist carpetbaggers in the 'center' (Dems+GOPe=Wash.DC), and small-gov't nationalists on the Right.  There is literally no path forward for either 'establishment' party... R's & D's are dead men walking.  If you are still framing this world w/ Red vs. Blue or Right vs. Left, then you are truly blind.

 

Vilfredo Pareto's picture

If you want to see super efficiency and high quality go to a leading third world cash hospital.  Much better than the quality of the average USA hospital at a third or less of the price.

 

Government fucks up everything it touches.

Vilfredo Pareto's picture

Every doctor I know knows that.  I don't know any doctor who didn't say to himself after residency "Lord, just let it last 10 more years." Lol.  We have as a profession being saying that for at least 30 years lol.   It can potentially go on longer than you might think.  And then just like the USSR vanish overnight.   Complex systems have that inherent weakness to look seemingly stable then poof, gone.  No real wind down.   Look at Arthur Anderson.  Lol.

Vilfredo Pareto's picture

Lol.  That may get really messy for 20 years.  A lot of capital and talent flowed to the healthcare industry including my capital and talent based on admittedly inflated price signals due to barriers to entry and inelastic demand as well as a huge healthcare sugardaddy willing to be the payer of last resort setting the floor 

 

Real price discovery in a market that even faintly resembles pareto optimality would fuck up everything for longer than people could handle it lol.  Capital destruction on an immense scale.  We have way too many and way too costly infrastructure including too many medical schools in that scenario where most of you only want to pay the quality level of a nurse practitioner.   But I say sure.  Do it now.  I am only ten years away from being ready to retire.  Healthcare Armageddon lol.   It wouldn't last forever.

ToSoft4Truth's picture

Why even keep the health care "System"?

 

This is the future...

No, wait a minute.  This is now.

 

Indiana nurse loses job after saying sons of white women 'should be sacrificed'

A nurse at an Indiana hospital was let go after an offensive tweet suggesting that the sons of white women "be sacrificed to the wolves" was traced back to her Twitter account.

According to officials at the Indiana University Health Methodist Hospital, Taiyesha Baker lost her job over the weekend after being linked to troubling posts online, the Indianapolis Star reported.

One tweet, which accused white baby boys of being future racists, terrorists, and killers, was posted from an account named Night Nurse, under which Baker was reportedly tweeting from.

Faeriedust's picture

A comment which soooooo clearly reflected her training, her skills, and her on-the-job personal behavior.  NOT.  What the hell was her employer doing crawling through her personal opinions to make employment decisions which had nothing whatsoever to do with her professional actions?  Do they send spies into the local bars to check on what people are saying to their friends there when they've had a few?  What makes a private Facebook page any different?

Sure, her opinion is arrogant and nasty, but I've had more than a few of those of my own. I work for the State, and I don't agree with 3/4 of the rules I'm employed to enforce.  My friends and family all know that.  But it doesn't change the fact that I do my damned job, and I would walk into "Night Nurse"'s floor in reasonable confidence that she would, too.  Freedom of speech needs to apply to more than government actions.  When employers can destroy your entire life, something has to restrain their unbridled pursuit of perfect appearances. Because this isn't a nation of small independent businesses and hasn't been since WWII.  90% or so of the population works for somebody else; 50% or so for large corporate employers.   If those employers can dictate what we're allowed to think and say when we're NOT AT WORK, we might as well line up for slave collars and make the relationship official.

whatswhat1@yahoo.com's picture

How to reduce health care costs? 

Duh!  Make them compete against each other.

How?

Pass legislation requiring all facets of the industry to publish a "menu" of their prices based on already billed charges.

Those that are mismanaged will vanish leaving the top companies to compete.

ToSoft4Truth's picture

Trump is gonna 'erase the lines'.  He'll need a second term.

 

 

Vilfredo Pareto's picture

That only works if the patient is responsible for the bill.  If insurance is responsible then you will choose based on factors other than price sensitivity.   

iamrefreshed's picture

If you don't like your hospital bill don't pay your hospital bill.

Fourth Horseman's picture

LMAO! That's exactly what I do!

...wait until more catch on.

*CRASH*

Hubbs's picture

Its the domino effect.

 

Declining economy means consumers can't afford health insurance as it is, much less the outrageous premiums under ACA.

Health Insurers, especially those providing ACA policies, can't  make a profit if they have to underwrite policies for those with pre existing conditions. (You can't buy homeowner insurance after your house burns down. Thus, insurers are no longer health  insurance companies, they are required under ACA to be health care payers.)

 

The government subsidy to these insurance companies, as I understand it, it winding down.

 

People without insurance, or even those who have insurance, are required to pony up outrageous co-pays and deductibles if they get sick or injured.Unable to pay $500 for unexpected auto repair, much less a $5,000 medical expense deductible, they therefore, go to the emergency room, where by law, the hospitals are required to treat. The hospital eats it.

 

Big pharma wants its piece of flesh too, charging outrageous prices for drugs through the pharmacies. Hospitals supercharge for these too.

 

Bottom line, once the insurers and the consumer gets strapped, the hospital providers will be the next domino to fall. I worked at CHS as a surgeon until 2015, was let go because of declining volume. The fact that CEO Wayne Smith made 123 million dollars in 2014 as Community Health Systems (CHS) took on record debt, made acquisitions throughout Missisissippi especially  of another hospital chain involved in fraudulent billing alerted me that probably Wayne might be pumping the stock, leaving CHS with a heavy debt burden, and exercising his stock options. When I read this ZH article I was waiting for CHS to be mentioned. Sure enough. There it was.

 

Without the consumer or the insurance money coming in, the hospitals are next to close. The only payer left will be the government, and so people may  "reluctantly" agree to universal health care- it's free after all, isn't it?, but eventually, it too will fall into the same problem: Not enough money.

 

Healthcare will eventually be rationed. Only then after people get so disgusted with that will  the traditional fee for service or honest health insurance (which will truly have to be affordable)  re-emerge.

 

But people can bitch about doctors all they want, but for me to go through 4 years of undergraduate school, 4 years of medical school, 5 years of residency etc and yet earn a low 6 figure income means that I am gouging the public is totally outrageous.

 

The public wants it both ways and more. 

They want superbly trained doctors who should work for free and yet who are exposed to career-ending incidents when dumb-as-fuck nurses can't  even handle a simple xylocaine order which costs a patient his life. I got the blame. The nurse and the tech in premeditated acts of misconduct, get off scott free.

Plumbers and HVAC tradesman or electricians are described as industrious and clever for earning six figure incomes while spending only 6 months training and some apprenticeship. Yet doctors incomes with 10 times the training and expense, are "gouging" the public, even though more than 50% are now having to work under the health care medical industrial complex employers who are the ones actually driving the costs. It was cheaper to get treatment in a private doctor's ' office than it is now by doctors who are employed by the hospital. It is not the doctors that are ripping off the patients- it is the corporations they work for. The public's anger is misplaced.

So who is to blame for the health care problem? As a former doctor now in forced retirement, I can tell you the answer: EVERYONE AND EVERYTHING!

Fat lazy patients who don't eat properly, are overweight, smoke, don't exercise and who make lousy life choices.

Patients who feel entitled to that Bass boat before thinking about getting health insurance.

Greedy big pharma, hospital corporations, health insurers-especially their CEOs, shareholders.

A medical malpractice system that exists primarily for the legal system.

Rogue righteous State Medical Boards which fail to reign in bad and dangerous doctors, but randomly, capriciously, and arbitrarily destroy good doctors for public relations reasons to "make up"  bad calls to atone for physicians they have let run wild.

Big government like LBJ that initiated his Great Society programs like Medicare which introduced enormous distortions in the healthcare systems. Hospitals would expand services which would never have been considered except that the government would be backstopping any overbuilding or needless duplication: two million dollar Da Vinci robots in a small tired old river town with two duplicate hospitals? Yep.

Advancement in medical technology. These are not "cost saving" devices. You now need to employ technicians to run and repair these marvelous Da Vinci robots and MRIs. This sets up a medical arms race between hospitals. Great for marketing and the marketing companies. 

Better technology and more successful treatment ( I  know, I know, all about the medical mistakes-but when you drive an old model T at 30 mph, you don't have as many accidents as you do when driving a Ferrari at 90 mph.)  Complexity invites more complications.

Demographics: More elderly patients require more treatment, and these elderly have more medical problems, more complex, more difficult to treat, more costly. Don't blame the doctors, blame the fact that it is truly the paradox of progress: Never have doctors and the medical field been able to do so much for so many patients, yet never have they been so ungrateful. Try living in Zimbabwe if you don't like medical care here in the US.

Bureaucracy: more government bureaucracy means more useless administration etc. Drives up costs. Medical care is used as a political football to get votes. Qui bono? The politicians of course!

Destruction of the physician independence. Years ago, a physician would set up his office in a town and stay there his entire career. Now because he has given away his profession, he moves from location to location. Medical search firms get $30,000 for relocating a physician. The hospital spends a lot of money recruiting, only to have the physician leave at the end of his contract. Airfare, hotels car leasing, recruiting comissions, real estate agents who buy and sell physicians houses as they come and go. Money designated for health care is actually spent on everything but health care.

You get the idea.

 

 

 

 

 

 

 

 

 

 

 

 

 

rejected's picture

I completely concur on all but one point. You wrote:

Plumbers and HVAC tradesman or electricians are described as industrious and clever for earning six figure incomes while spending only 6 months training and some apprenticeship.

I went through 3 years of intense apprenticeship for industrial electrician and another couple years to become a journeyman. Certified for locomotives, Lectra-Haul mining trucks, Overhead Cranes, Lift Magnets, SCR drives to everyday production equipment. These programs no longer exist as they (corporations with gov help) shipped the production and jobs out of the country. By doing that the government made my skills investment moot.

The ones your talking about are the government pretend skills. Take a 'college' course,,, some CBT training,,, pass a test you've been given the answers to. Go out and screw up peoples equipment until you learn enough to get by.  Oh, I forgot the all important State, County, City licenses that certify one to screw up equipment.  I can proudly say I never had one of those and don't want it. To me it's demeaning.

Happened to millions of us,,, now the country produces very little of what it consumes (except military) and all the skills necessary are gone.  These jobs provided us with reasonable cost insurance. That went as well.  Today the government is squeezing the few that still produce and make a decent living  to pay for the free loaders. When I say free loaders I don't mean those with real disabilities. I'm talking the fat, lazy free shit army that has now taken over the nation. 

I wish Doctors like you would start up businesses that take cash payment.  Even if just for colds, and other minor problems. But with the government involved I can just imaging the hoops you'd have to jump through. 

Hubbs's picture

Hi rejected,

 

Obviously your level of training exceeds the typical training required for most home and small business HVAC, electricians, etc. whom I referenced in my rant.  As I said, you get the idea and I am in total agreement with your observation/question which boils down to: Who is doing the productive work in this country? And why is it that the more skilled you are, paradoxically the higher the standards you are held to? 

Vilfredo Pareto's picture

As a current doctor I agree you hit all the main points except healthcare providers who decide procedures by what they are allowed to bill, not what is considered necessary.  We have probably twice as many stents placed as were necessary as one tiny tiny example.  There is a cost driver right there.  The child treatment center that keeps a kid six months instead of three in a residential facility because they know they can bill six.

 

I don't need labs on psychiatry except maybe a thyroid every once in a while or nortryptiline levels.   After 26 years I can eyeball levels except the elderly or medically complex.  How do they think this shit is done  in the third world?  By your eyes and ears.  But I am required to do levels as if I am a first year resident for QA.   So I ordered three unnecessary lithium levels to meet my QA quota lol.

Hubbs's picture

Hi Vilfredo,

 

My rant barely scratched the surface. The big hospital companies make doctors perform so many procedures and are expected to meet their quotas. It doesn't matter whether it is the number of stents you as an invasive cardiologist have to perform down to the lowly wound care doctor like me who has to perform so many pressure sore debridements or biopsies on these hapless nursing home patients or get terminated.

 

But let's face it, doctors performed unnecessary procedures even when they were independent. Part of this was enabled by the Medicare will pay for it attitude of patients who never questioned how much a procedure cost or even if it was necessary. 

Everyone is partly to blame. Doctors, sales reps, pharma, hospital, health insurers, lawyers, patients, demographics, advancements in technology , government, politicians,  etc. etc.

Faeriedust's picture

Everyone is to blame EXCEPT us witches!  WE give people alternatives to overpriced medical care that start with lifestyle modifications, effective psychotherapy (none of that crap peddled by the shrinks with 14 degrees), and botanical drugs.  Our educations don't cost a quarter million dollars, because we got run out of the universities in the 13th century.  And we charge almost nothing (except requiring apprentices to clean out the cat litter) because we've been chased down by so many governments for so many centuries that we don't give them any excuses to come after us again.

Hedges and back alleys are where you find the real professionals in every field.  Licenses and government-sponsored monopolies are for lazy wimps.

Vilfredo Pareto's picture

Lol.   I think we shrinks have something to offer.  You try treating a paranoid schizophrenic some day :)

 

However I have no problem with bringing back the witches.  That was very unfair of allopathic medicine over the last 800 years driving out that huge body of knowledge and the practitioners to the point we have lost 90 percent or more of that herbal knowledge base and it is merely a shadow of its former self. 

 

I really don't see how midwifery survived the purge either, except that there were never enough doctors willing to go out in the middle of the night to treat poor people for peanuts.  I figured that is why midwifery was the only witchcraft that survived.

 

That is such a good rant I am saving it.  Yes you are the only group that is blameless.

Vilfredo Pareto's picture

It is interesting that Stark 1 And Stark 2 were supposed to solve these conflicts of interest by not allowing physician ownership except for complicated safe harbors.

 

All that did was end our influence in the industry.  We don't own anything now, but the salaried doctor is just as incentivized as anyone to meet those revenue goals, even when somebody isn't acting so boldly as to give you your annual "goal" lol.  Quotas are forbidden.  Yeah that solved it all right.  Pete Stark was a Dumbass.

hendrik1730's picture

I fully agree with you. I used to live and work in Belgium ( the EU's hellhole ), also studied until PhD level and observed EXACTLY the same problems. Pharma Cies overcharging like hell, an administrative waterhead as well at government side as on the hospitals' side, overbuilding of hospitals, stupid nurses who don't know the back side from a needle from the front end and not even able to take a blood sample properly, big machinery who goes "ping" to impress the patients and preferably 5 of them when they need just 1. You name it, you got it.

And by the way, the MD's in Belgium are ripping off their patients too : if you stay in a single bed room, they charge you a far higher fee for performing exactly the same treatment. Government could abolish that practice in 1 day, but noohooo : just drive up the taxes, that's all they can do there. Make the people working for industry pay all bills - result : industry is leaving at a pace of 5% relative per year resulting in neverending government budget deficits in spite of driving up taxes. Government "needs" 54% of the GNP in Belgium to "operate" while it is 25% in the USA. On a population of 11 millions, we have 1.5 million "civil servants" as they call it. For doing just WHAT? And over 1 million people are on welfare ( unemployed, long sick leave, ... ). 6 "gubbernments". Brussels has 1 million inhabitants and 19 mayors and city councels and they fuck up the place like hell. NINETEEN, New York has 10 millions of residents and 1 mayor. Pensions in Belgium are among the lowest worldwide - for ex-industry workers, that is, not for "civil servants" and politicians, their self-service system works very well.

I live now in South Africa, I was sick of that decaying place back in Europe : cost of health treatment is 5 times lower and quality is excellent. Good climate and affordable cost of living. I was also "retired by force" so to speak.

JoseyWalesTheOutlaw's picture

Every person that voted for obamacare should be fuking hung.

Every person on the CBO should be hung with them.

All those useless MFers that actually wrote the bill ..hung as well

 

The dems counted the votes and they selected their ghetto trash voters over those of us with an Individual Plan. The taxpayer pays for the ghetto trash and we Individual Plan Holders get fuked.

 

What a damn country

Drop-Hammer's picture

All Obamohammed Care ever was and is is another scheme to get more of evil whitey's tax dollars to the negroids, spics, illegal aliens, refugees, and other trash that already consume enormous amount of our tax dollars.  Obamohammed saw this a as means to stiff YT and win the adoration of the nigger masses, and his (((Money-Changer/Le Happy Merchant))) supporters saw all of this as a way to get more shekels to fill their pockets.  Of course, middle-class YT gets to pay for it all.  So, here is a big FU to you white cucks who love your minority pets, illegals, and refugees.   

I am Groot's picture

Bernie Madoff couldn't have done a better job at pulling the wool over people eyes on Obozoare and dry fucking them up the ass like Barry Sotero did.

everything1's picture

Iatrogenic disease, third leading cuase of death in the U.S.  They are bankrupting themselves.  Except #1, and #2, Heart/Cancer will keep them going, pretty sad group if you ask me, rape and pillage.

Vilfredo Pareto's picture

"Iatrogenic" of all type might be number two.  Its only number three because the ones you can count were just the ones we couldn't hide.

GunnyG's picture

Wow, what a surprise. Illegal fucking aliens destroyed the County Hospital infrastructure and now the scumbag Democrats, led by that cocksucking Kenyan faggot complete the wreckage of our health care system. Deport the illegal alien scum and then shoot the Democrats. We'd have a paradise thereafter.

peippe's picture

It's not the loss that it seems.

Most of the hospitals teetering on bankrupt are busy killing through malpractice anyway.

Some MDs you just don't need to meet. They'll mess you up. I got stories.

SmittyinLA's picture

Another invasion toll going back to Reagan

JoseyWalesTheOutlaw's picture

Obamacare was created to make everything so fuked up that you have to swtich to single payer heath care to survive.  

 

Blue Cross best Individual Plan is 1000 per month with the 1st 5500 yours. That is a joke. I was paying 350 per month for mine in 2007 at 57 years of age. The plan increased to 700 by 2015 before I moved to Medicare. Only the most evil MFers on the planet would have passed this bullshit bill and the CBO was as corrupt as the democrats. The CBO should be perp walked and hung.

Vilfredo Pareto's picture

Too bad you are now on medicare.   I was hoping to encourage your vigilantism.   It is a mafia if you apply the duck test.   They steal your insurance.   Then they offer to sell you a new "approved version at 2.5 times the price of what they stole from you.  Then if you tell them you can't pay they threaten you with the enforcers.

 

Somebody needs to go full dirty harry on the mafia.  I can't do it.  I am too much of a pussy, and I haven't been given my six months to live notice by my doctor yet.

just the tip's picture

i sent the letter back said no thanks.

ToSoft4Truth's picture

It's cut and dry.

 

People with money - Teddy Kennedy or John McCain - live.

People without money - those paying insurance premiums - don't live.

DaveA's picture

And McCain will be too, very soon.

The problem is, people realize they're dead either way, so might as well spend money enjoying life instead of paying for shitty insurance.

I am Groot's picture

Come on brain cancer !

Kprime's picture

what happened? insurance didn't cover hookers and blow?

sharonsj's picture

The article says: Congress delayed those cuts several times, but didn’t do so for the current fiscal year, which may "single-handedly throw hospitals into immediate financial distress...

Isn't the current Congress run by Republicans?  Don't Republicans not give a shit if people cannot afford health care and end up dying?

rejected's picture

No.... Nobody gives a shit....