Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

3/22/2013 (1 year ago)

Catholic Online (www.catholic.org)

Obamacare worsens an already one-sided economic relationship.

If you want to make something expensive, the best thing you can do is regulate it. This is going to be the case with Obamacare, as insurance companies and medical providers prepare to cash in on the best thing to happen to their pocketbooks since ever.

Obamacare is great for insurance executives.

Obamacare is great for insurance executives.

Highlights

By Catholic Online (NEWS CONSORTIUM)

Catholic Online (www.catholic.org)

3/22/2013 (1 year ago)

Published in Health

Keywords: Obmacare, disaster, costs, reasons, power, money, taxes, Affordable


LOS ANGELES, CA (Catholic Online) - The United States already pays more than any other nation in the world for its healthcare, and will soon start paying even more. Unfortunately, the quality of the care and its coverage will continue to remain poor among the industrialized world, despite President Obama's best intentions.

Meanwhile, patients, doctors, and nurses will continue to be overworked and poorly paid. At the same time, insurance companies, hospital executives, and medical service providers will become yet richer still as the largesse starts rolling in.

The biggest losers, of course, will be the American people, who will pay a cost so tremendous that prices alone will cause Obamacare to fail its core mission, which was to insure more Americans. It will also go further than that, doing more harm than ever imagined.

At the heart of the problem is power. In a free market, individuals typically have the power of choice. This creates competition which forces competitors to improve quality, lower prices, or some blend of both to attract customers. Unfortunately, illness and emergency are rarely choices. Where one seeks medical care tends to be related to geography and the severity of the need, so the individual has no power to actually shop, and companies have little incentive to compete in any way that's meaningful to consumers.

The situational lack of buyer power means that care providers can charge essentially whatever they like to patients. Indeed, recent studies have shown that there are no standardized costs in the industry, with items costing much more in some places than others, with little rhyme or reason other than profit.

Even within the same institution, two customers may be charged entirely different prices for the same care.

This lack of standardization and subjective billing causes prices to be high, and now with a federal mandate that all citizens must have insurance, and all large employers must pay, there's guaranteed money coming into the system, drained from the pockets of businesses and citizens.

Just what the healthcare industry needs - more money.

Here's some of what it will do to you.

--Higher premiums. Since demand is going up, insurers can now charge more. In addition to the 3.5 percent surcharge on premiums sold through federal exchanges and a $63 fee charged for individuals covered by employers, there's a hulking $100 billion tax on insurance companies over the next decade. You'd be silly to think the insurance companies are simply going to eat the loss. Instead, this tax will be passed to you, the consumer.

Rate shocks are expected to hit young people hard, leaving them on the classic, "Don't Get Sick" insurance plan. Young adults who are already saddled with student loan debt, will now face buying inflated insurance on the open market or pay a penalty tax. No matter what happens, these young people, who are least equipped to pay, will bear a heavy burden. One shudders to think of the long-term impact this will have on their attitudes and political beliefs when they have to spend their last dollar on taxes and premiums.

The American Action Forum recently completed a survey of insurers, who say they expect premiums to climb by 169 percent. It was out of control before Obamacare, now try to imagine what comes after Jan 1, 2014.

--Less employment. Since Obama's mandate isn't universal, and employers who provide fewer jobs and less hours can avoid the costs of paying for employee insurance, many small employers plan to cut back, or simply go without hiring new employees. Part-time and temporary work is already on the rise as more workers become unemployed. Why should an employer be punished for being successful? The purpose of a business is to make money for owners and shareholders, not pay for employee health care and taxes to the government.

This means young people in particular are going to have a harder time paying because they're going to have a harder time finding work. Even those who have been employed for a long time may soon find themselves facing some kind of cuts.

--Raise middle class taxes. The poor either will continue doing without, or will have to have their costs entirely subsidized by the middle class. Some $800 billion in tax increases are anticipated under Obamacare and most of that will be passed along to middle class consumers. There's $45 billion in anticipated penalties for people who don't buy insurance as commanded. Medical expense deductions will be limited, so that's another $20 billion, and so on. Ultimately, middle class taxes are going to rise by the better part of a trillion dollars.

--Obamacare applications will be ridiculous. The first draft of the Health and Human Services application from was 21 pages long.

Please remember to check both sides of the forms.

This crisis is far more profound and severe than many thought it would be. Instead of making health care affordable, Obamacare failed by making it much more expensive. Of course, it isn't Obama who's ringing up the bill, but insurance companies who can now hold buyers captive thanks to his pet legislation.

Sixty percent of all bankruptcies in the United States are a result of burdensome medical expenses. That percentage will rise, especially amongst the young who suffer injury or sickness.

Meanwhile, the CEOs of major healthcare institutions and insurance companies can move into larger mansions.

Best of all, your congressional leaders get to keep their sweet government healthcare, which is a separate system run outside of all the others and is exclusive to themselves alone.

The product will be disaster, followed by rage. What come of that anger will hopefully be a sweeping overhaul of not just the insurance and healthcare industries, but hopefully also of government. However, if nothing happens, if the people simply accept their fate and remain as hamsters on the wheel, then-well, they get what they deserve.

---


Pope Francis: end world hunger through 'Prayer and Action'


2014 - Distributed by THE NEWS CONSORTIUM

Pope Francis Prayer Intentions for July 2014
Sports:
That sports may always be occasions of human fraternity and growth.
Lay Missionaries: That the Holy Spirit may support the work of the laity who proclaim the Gospel in the poorest countries.



Comments


More Health

COUNTDOWN TO GLOBAL INFECTION: Hunt is on for 30,000 Ebola carriers worldwide Watch

Image of The father of three, Patrick Sawyer became the first American to die from the Ebola virus.

By Catholic Online (NEWS CONSORTIUM)

With the death of 40-year-old Patrick Sawyer, an American who contracted Ebola while caring for his sister with the virus, the hunt is on for people who may have been in contact. Officials hope to head of the deadly virus off at the pass - before it is too late. ... continue reading


THERE IS HOPE: Drug-resistant malaria has not yet spread to parts of Africa Watch

Image of While there have been significant reductions in the numbers falling ill and dying from the mosquito-borne disease, malaria still claims the lives of more than 600,000 people annually.

By Catholic Online (NEWS CONSORTIUM)

As the western part of the African continent struggles with the spread of the horrifying Ebola virus, there is hope on the health front - albeit one that must be taken advantage of in the time allotted. Drug-resistant malaria has proved to be a serious threat ... continue reading


Ebola coming to America? American death from Ebola hammers home worldwide threat posed by disease Watch

Image of Patrick Sawyer has become the first American to die from the deadly Ebola virus.

By Catholic Online (NEWS CONSORTIUM)

American Patrick Sawyer, who worked as a top government official in the Liberian Ministry of Finance, had been caring for his Ebola-stricken sister in Liberia. Returning home, he collapsed and died, the first known American to have perished from the deadly ... continue reading


A LOT OF TEETH! Doctors remove 232 teeth from mouth of teenager Watch

Image of Medicos have described the teenager's condition as

By Catholic Online (NEWS CONSORTIUM)

We've all had to suffer for several hours in a dental chair, but chances are that our worst experiences were nothing like that of an Indian teenager who had 232 teeth removed during a seven-hour operation. Now done to 28 teeth, the youth has a better chance for ... continue reading


SURPRISE! Study finds that obese kids in the U.S. see themselves as being skinny! Watch

Image of Curiously, researchers found that some obese children even believed that they were underweight.

By Catholic Online (NEWS CONSORTIUM)

Should it come as a surprise - or just another sad comment on the prevalence of obesity in the United States? A new study has found that children who are overweight or obese don't see themselves as being so. Researchers and medical experts says this needs to ... continue reading


NEW FEARS: Middle Eastern Respiratory Syndrome may be transmitted through air Watch

Image of In their research, scientists from King Fahd Medical Research Center in Saudi Arabia collected three air samples from a camel barn.

By Catholic Online (NEWS CONSORTIUM)

There are new fears that the rapidly spreading virus, Middle Eastern respiratory The Middle East Respiratory Syndrome Coronavirus, or MERS, may be an airborne virus - making the disease highly easy to transmit, and get. LOS ANGELES, CA (Catholic Online) - To ... continue reading


Light at end of tunnel? HIV epidemic could be contained by 2030 Watch

Image of While HIV, the virus that causes AIDS, continues to be an ongoing threat - more so in developing nations where education about its transmission is compromised, there now appears to be a light at the end of the tunnel.

By Catholic Online (NEWS CONSORTIUM)

While HIV, the virus that causes AIDS, continues to be an ongoing threat - more so in developing nations where education about its transmission is compromised, there now appears to be a light at the end of the tunnel. According to the United Nations, new HIV ... continue reading


Dye now being used to detect dementia Watch

Image of Researchers from Duke University Medical Center in North Carolina, tested 152 patients older than 50 years of age to see if they could predict cognitive decline by tracking changes in the brain.

By Catholic Online (NEWS CONSORTIUM)

Dementia, like Alzheimer's is a disease that usually effects the elderly. In the manner of Alzheimer's plaque begins to collect in the brain at an advanced age. This drastically effects the patient's memory, cognitive ability and motor skills, with many winding ... continue reading


Breakthrough announced in hereditary condition that causes blindness Watch

Image of The age at which symptoms start is variable and the rate of deterioration often varies. In around half of all cases there are other family members with the condition.

By Catholic Online (NEWS CONSORTIUM)

Retinitis pigmentosa, or RP is an inherited, degenerative eye disease that causes severe vision impairment and frequently leads to blindness. Affecting around one in 3,000 to 4,000 people, scientists have moved closer to a breakthrough in "personalized" ... continue reading


Deadly plague than can be spread by coughing, sneezing infects Colorado man Watch

Image of Untreated plague is always fatal. Antibiotics have to be given within 24 hours of the first symptoms to reduce the chance of death.

By Catholic Online (NEWS CONSORTIUM)

It's the first case of pneumonic plague seen in Colorado since 2004. A man there has been diagnosed with among the rarest and most fatal forms of the plague, an airborne version that can be spread through coughing and sneezing. LOS ANGELES, CA (Catholic Online) ... continue reading


All Health News

Newsletters

Newsletter Sign Up icon

Stay up to date with the latest news, information, and special offers

Daily Readings

Reading 1, Jeremiah 26:1-9
1 At the beginning of the reign of Jehoiakim son of ... Read More

Psalm, Psalms 69:6, 8-10, 14
6 Those who hope in you must not be made fools of, ... Read More

Gospel, Matthew 13:54-58
54 and, coming to his home town, he taught the people ... Read More

Saint of the Day

Saint of the Day for August 1st, 2014 Image

St. Alphonsus Marie Liguori
August 1: Bishop, Doctor of the Church, and the founder of the ... Read More

Inform, Inspire & Ignite Logo

Find Catholic Online on Facebook and get updates right in your live feed.

Become a fan of Catholic Online on Facebook


Follow Catholic Online on Twitter and get News and Product updates.

Follow us on Twitter