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Saturday, October 8, 2016

Obamacare rates in Oregon hurt many voters just in time for the Presidential election

I am glad to be old enough for Medicare because it is clear, from the letters to the editor of my college town's professional local newspaper, that early retirees on Obamacare are being price gouged by health insurance companies as well as drug companies and hospitals that charge cash customers 10 times what they charge insurance providers.

For example, one letter writer (see quoted letter below) described how her or his monthly premiums increased from a little over $100 per month before Obamacare went into effect, to nearly $600 per month for 2017. It is clear to me that Republicans added changes to the Affordable Care Act in a way that they knew would blow up Obamacare just in time for the 2016 elections as a political trick to help Republicans get elected. Ironically, many Republican politicians are now upset that it might help Trump get elected because these same Republicans do not support Turmps crazy political agenda.

Below is the text of letter I mentioned above:

I recently learned how Republicans calculatedly amended Obamacare in a way that would upset many voters just before the 2016 presidential election.

Prior to Obamacare, I paid a little more than $100 per month in health insurance premiums.

I was willing to keep my grandfathered health plan, as President Obama promised, by continuing timely payments of the premiums even though they more than doubled to $264 by 2016.

However, contrary to Obama's promise, the insurer canceled my policy by exploiting a loophole amendment to Obamacare that Republicans inserted.

Consequently, right before the presidential election I must sign up, or pay a penalty under the so-called "Affordable Care Act," for an Obamacare plan costing $659 per month during 2017, or if I change doctors, $579, despite financially needing only the catastrophic coverage I had.

No presidential candidate has proposed a solution to fix the root problem with health insurance - everyone wants to stay alive at all costs and their inelastic demand for medical treatment will drive up costs toward infinity,according to the fundamental laws of economics.

Insurance companies claim the number of people receiving heroic medical treatments costing more than a million dollars per person, right before they die, makes health insurance an unprofitable business, which is believable given the premiums that individuals and employers are able to pay and also how few people are able to earn and save even a million dollars for retirement during their lifetime.

(Quoted from Kim Wilson, "Letter: The root problem with insurance," Gazette-Times, Oct. 11, 2016, p. A7 posted Oct. 8, 2016)

Below are some related links of interest: