UnitedHealth "CEO Stephen Hemsley said Tuesday that ... the company cannot continue to broadly serve the market created by [Obamacare]'s coverage expansion due partly to the higher risk that comes with its customers. The state-based exchanges are a key element behind the [Obamacare]'s push to expand insurance coverage.
"But insurers have struggled with higher than expected claims from that business. UnitedHealth has estimated that it could lose as much as $475 million on its public exchange business this year..." Now, stop and think, folks. Wait a minute, now. Before you applaud an American corporation losing money, stop and wait a minute. This is an industry which supposedly benefits from a law requiring that every American buy its product. So what's going on here?
If every American is required to buy health insurance, how in the name of Sam Hill can UnitedHealth or any other insurance company lose money? And what they're telling us is that the customers are making these outlandish claims, many claims much higher than expected. Why would that be? Well, they can't afford it, for one thing. But many of them think that it's free, that other people are paying. So they're going to the hospital or they're going to the doctor record numbers of times. But here's the bottom line.
This is mission accomplished.
This is exactly what was planned.
This is exactly what was intended. Precisely. And it's right on schedule. What are we now in? Obamacare was passed in 2010 and here we are 2016, so we're in the seventh year, and between years seven and 10 this was to fully implement. And part of the full implementation was to include the elimination of the private sector insurance market. Now, I realize that many of you are new listeners and may not have been around in 2010, '11, and '12 during the intense discussions of Obamacare.
You might be thinking "Wa...? What's this guy talking about? He claims it's supposed to happen? Obamacare is supposed to wipe out private insurance?" Yes. Exactly right. "But no, no! Obama wanted to bring health insurance to everyone." No, that's not what Obamacare's about. Obamacare's not about health care. It's not about insurance. All it is, is a mechanism to vastly expand the government and give the government more control over your life -- over what you eat, over how you live, over the decisions you make about everything -- because they're gonna be able to relate everything to health in terms of cost.
So if you eat things they don't think you should eat, they can say, "Sorry, we're not gonna provide treatment for this particular disease because you have made no effort to take care of yourself according to our guidelines." They don't have an endless pile of money, bottomless pit of money to pay for every health malady in the country.