by Richard H. Frank
The closer we get to the full implementation of the Patient Protection and Affordable Care Act the more we learn about the incredulous elements hidden within the 906 pages of this disastrous law. One by one every prediction made by opponents of this law are coming to pass, including every prediction in the history of this Blog.
The mythical 30 million uninsured people allegedly to be covered by the law shrinks with each passing day along with the quality of care provided by the industry for every American. Doctors, hospitals and medical implement suppliers find themselves struggling to understand the more than 15,000 regulations written by HHS with more to come before 2016.
Notwithstanding the claims from the liberal progressives in Congress that this legislation would not come between you and your doctor, we now know that you will not be able to keep your insurance nor your doctor as promised by Barack Obama. The law is structured to ultimately destroy private insurance by limiting their profit potential to a fixed margin or substantial losses for providing existing levels of coverage to their subscribers.
Moreover, businesses employing 50 people or more know that it is to their advantage to pay the Government-imposed fine than to pay escalating premiums for private insurers resulting from Obamacare regulations. Currently, the CBO estimates that more than 7 million Americans will lose their current coverage and potentially doctors as their employers opt out of providing insurance to employees.
Drug companies and medical device manufacturers are already cutting costs by curtailing employment and investments in research and development. The same is true of other industries as the detail undisclosed in the regulations written and yet to come create a level of uncertainty that most Boards of Directors are averse to taking that level of risk.
Recently, it has been reported that HHS is revisiting their commitment to cover preexisting conditions as the projected costs of doing so would be enormous.
Yet, we see Barack Obama, Kathleen Sebellus, Harry Reid and Nancy Pelosi steadfastly pushing the implementation of this disastrous law forward. Currently, the CBO has changed their projected cost of the legislation from $900 billion to more than $2.6 trillion and continuing.
The real objective of this administration is to drive the U.S. to a European-style single payer system that will that limit the access for care to every American.
Left unchecked by Congress there is no stopping the relentless advance of this cancerous law from bankrupting the nation. Unlike the repeal of prohibition more than 80 years ago that had an immediate impact on crime, by 2016 and the end of Obama’s term, it may be too late to reverse the damage done to the nation’s health care industry under Obamacare.
Congress still holds the power of the purse and notwithstanding Obama’s veto power, it can strangle funding for portions of the law and substantially delay its implementation should the members have the strength of purpose to truly represent their constituents. When more than 68% of the electorate oppose the law as written and a majority support repeal it is time for Congress to do their job and represent “We the People.”