Remember the screeching about Sarah Palin’s comments about ObamaCare “death panels”? Well, they’re here, but not in form that we on the right envisioned. As New York cancer patients are finding out, their death panel is none other than the insurance coop that was set-up by New York Democrats who voted for ObamaCare.
The background is simple. Obama and Democrats are sworn enemies of free market capitalism. It’s a cardinal sin to make a profit, especially on something like health insurance. So the Democrats – supported by exactly no Republicans – set up non-profit health care coops to sell insurance through ObamaCare. Every state that accepted ObamaMedicaidFraud has one. So far all but one have failed or are about to.
It’s not for a lack of money.
As Betsy McCaughey explained after word of Health Republic’s demise came to light, this is a nationwide problem:
Congress loaned a whopping $2.5 billion of taxpayers’ money to Health Republic of New York and 22 other boondoggle insurance co-ops, even after being warned by its own budget experts that many co-ops would fail and not repay the loans. How carelessly politicians spend other people’s money.
It wasn’t money that’s closing down these insurance coops, it’s incompetence. And who pays for Democrats’ incompetence? Well, in New York, along with US taxpayers, it’s cancer patients.
Some 250 patients receiving treatment at Memorial Sloan Kettering Cancer Center are facing a crisis because they signed up with the only ObamaCare insurer in New York that provides coverage at the world-renowned hospital — and the insurer is going bust.
Now the patients either have to find new insurers and doctors or pay higher out-of-pocket costs for extended care at Sloan.
State regulators are removing Health Republic Insurance of New York from the ObamaCare exchange as of Nov. 30 because the company is gushing red ink — losing more than $130 million in 18 months.
The state Department of Financial Services is advising customers to shop for new policies by Nov. 15, to ensure coverage for the rest of this year as well as next.
These cancer patients have a problem though. No other insurer in New York covers Sloan Kettering.
[N]o other Obamacare exchange has reached an agreement with Sloan Kettering, meaning there simply aren’t any options out there for these hundreds of cancer patients.
In all, the shuttering of Health Republic has left 215,000 Obamacare customers in New York scrambling to find new, and likely less affordable plans.
This disaster has been on the horizon for some time, as Health Republic consistently operated in the red despite receiving $355 million in taxpayer funded low-cost loans. They lost at least $80 million this past year despite those loans.
The real tragedy here is that it IS New York and it’s likely most of those cancer patients supported Barack Obama twice and supported ObamaCare. They’ve likely never voted for a Republican in their lives. And they’ll probably vote for Democrats in November of 2016.
Assuming, of course, they actually live that long.
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