Illinois Obamacare Co-Op Goes Bust Leaving Tens of Thousands at Risk
Michael Krieger
LibertyBlitzkrieg.com
Friday Jul 15, 2016
The fact that Obamacare is a gigantic train wreck barreling uncontrollably into a brick wall is pretty much undeniable at this point. I’ve covered this reality from several angles in 2016, with one of the more popular posts being, The Health Insurance Scam – “Coverage” Doesn’t Mean Affordability or Access, in which I noted:
Politicians, particularly those of the Democratic persuasion, love to throw around statistics about how many additional people have healthcare coverage without ever talking about the cost of such coverage, or whether it actually translates into actual access in the real world.
While a greater number of Americans having health insurance is a good thing when it comes to protecting against unexpected catastrophic events or extended hospital stays, it doesn’t tell you anything about two very important variables: 1) How much does it cost? 2) What kind of access does it provide? As usual, the devil is in the details.
We’ve all seen headlines about higher monthly premiums, but that’s just the tip of iceberg. Once you’ve paid your premium, you’re far from off the hook. Another one-two punch of deductibles, copays and out of pocket maximums appear which can collectively run into the thousands if not tens of thousands of dollars for families.
In my opinion, the above situation represents the number one failure of Obamacare, but there are others. Today’s piece focuses in on the state of Obamacare co-ops, which were “created under the federal health law to provide cost-effective coverage and competition in state insurance markets.”
Just like with Obamacare in general, stark reality is not living up to the sales pitch, and 16 of the 23 nonprofit cooperatives created nationwide have now failed.
The Rest…HERE
