California rejects Obama Obamacare cancellation fix and extension, 1.1 million Californians receiving notices of individual health insurance dropped, Socialists spend other people's money

California rejects Obama Obamacare cancellation fix and extension, 1.1 million Californians receiving notices of individual health insurance dropped, Socialists spend other people’s money

“If you like your health care plan, you’ll be able to keep your health care plan.”…Barack Obama

“millions of Americans are getting or are about to get cancellation letters for their health insurance under Obamacare, say experts, and the Obama administration has known that for at least three years.”…NBC News October 29, 2013

“…and Socialist governments traditionally do make a financial mess. They [socialists] always run out of other people’s money. It’s quite a characteristic of them.”…Margaret Thatcher

 

 

From Zero Hedge November 21, 2013.

“Obama’s Flip-Flopping In Shambles As California Rejects Proposed One-Year Plan Extension”

“When Barack Obama, floundering in the endless humiliation from the disastrous rollout of Obamacare, gave the country’s insurance  companies the “put option” to reject the one-year “cancellation” extension fix stemming from the whole “if you like your plan, you can keep it, period” fiasco, he committed a cardinal sin – he lost control of the situation, because from that point onward the decision was no longer in his court. Furthermore, due to the syndicate nature of insurance companies and state insurance commissioners implementing Obamacare, suddenly the decision was subject to game theoretical facets including cooperation and defection, or rather just defection since at this point the biggest spoils would go to whoever had the initial leverage or rather, defiance of the president. Sure enough, California just flopped on Obama’s most recent flip when the state, moments ago, rejected Obama’s proposed fix to allow legacy plans to survive for one additional year.

  • CALIFORNIA REJECTS OBAMA’S INSURANCE CANCELLATION FIX
  • CALIFORNIA REJECTS 1-YEAR EXTENSION OF CANCELED INSURANCE PLANS”

 

“The state insurance commissioner had said that 1.1 million Californians are receiving notices that their current individual health insurance policies will be discontinued in 2014 because they do not meet the benefit requirements of the federal health care overhaul.

That has angered some policy holders, many of whom will see their monthly premiums and deductibles rise sharply with the new plans being offered. It also flies in the face of promises Obama made repeatedly when he said people who liked their current health insurance policies could keep them under his health insurance reforms.

The president has since backtracked and has asked states to allow insurance companies to extend those older policies.

But many insurance companies oppose that, saying doing so would undermine the new markets being set up under Obama’s law. They also said they did not have enough time to rebuild policies they already had discontinued.”

 

“And while Calirofnia’s decision certainly makes sense financially for the insolvent state (if not any other more prudent states), it merely adds to Obama’s political crucifixion as now it will appear as if he has lost all control over not just the website enrollment process, but also the entire onboarding process and is unable to even keep beneficiary states under control.

Welcome to socialist central planning 101 – where everything that can go wrong, sooner or later does.”

Read more:

http://www.zerohedge.com/news/2013-11-21/obamas-flip-flopping-shambles-california-rejects-proposed-one-year-plan-extension

 

 






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