Last week, at a health-care rally in a high-school gymnasium on the outskirts of St. Louis, 500 people — a good turnout for a PTA fundraiser – heard the President of the United States peddle his health-care overhaul and describe insurers as the root of all health-care evil.
Therefore, it’s perhaps worth noting that — according to Congressional Budget Office projections — from 2014 to 2025 Obamacare would provide an average of $83 billion per year in new taxpayer-funded health-care subsidies that would ultimately be paid to health insurers. That’s ten times the $8.3 billion in combined annual profits made by America’s ten largest health insurers. And, of course, Obamacare would also require that every American buy the health insurers’ product under penalty of law.
Yes, Obamacare would really stick it to the insurers. That’s why even MoveOn.org calls Obamacare “a massive giveaway to the insurance companies.” This much is clear: If funneling too much money through insurance companies is the problem, Obamacare isn’t the solution.