Another Casualty of Obamacare
Remember that President Obama repeatedly guaranteed voters that Obamacare would allow them to keep their policies and their doctors?
Financial services provider Principal Financial Group Inc. is exiting the health-insurance business in an early sign of expected consolidation as the impact of the health overhaul becomes clearer.
As with the turmoil surrounding employers like McDonalds, the rules rolling out from Obamacare Central are quickly exposing the president’s oft-repeated promise as a fraud:
The federal health overhaul passed in March has prompted worries among regulators and industry groups that smaller insurers might have difficulty competing under rules that require insurers pay out between 80% and 85% of premiums on medical care.
This is just the beginning of the destruction of the health care system that Americans were promised would be strengthened, not shattered. The economy will indeed drive many to vote against Democratic candidates in four weeks, but so too will the need to get Obamacare repealed before it smashes the entire system.
Obamacare was a first a fraud and then a jam down, and voters won’t forgive or forget that the House and Senate pushed it through after the election of Scott Brown in Massachusetts.