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#264773 - 11/03/13 10:21 PM ObamaCare Enriches Only The Health Insurance Giants and Their Shareholders
issodhos Offline
Pooh-Bah

Registered: 09/29/05
Posts: 12581

Quote:
So far in 2013 the value of the S& P health insurance index has gained 43%. Thats more than double the gains made in the broad stock market index, the S & P 500. The shares of CIGNA are up 63%, Wellpoint 47% and United Healthcare 28%. And if you go back to the early 2010 passage of ObamaCare, you will find that Obama’s sellout of the public interest has allowed the public companies the ability to raise their premiums, especially on small business, dramatically multiply their profits and send the value of their common stocks up by 200%-300%. This is bloody scandalous and should be a cause for concern even as the Republican opponents of the bill threaten the close-down of the government.

...snip...

...let’s hope for the benefit of the 300 million, not just the millions of lucky shareholders who may have understood the ramification of ObamaCare, which was to multiply the profits of five giant insurance companies, just as the major bank oligopoly was rewarded by the federal bailouts and Fed monetary policy.
LINK
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"When all has been said that can be said, and all has been done that can be done, there will be poetry";-) -- Issodhos

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#264785 - 11/04/13 07:58 AM Re: ObamaCare Enriches Only The Health Insurance Giants and Their Shareholders [Re: issodhos]
NW Ponderer Offline
Moderator
veteran

Registered: 09/09/11
Posts: 11341
It is true that the ACA creates a monopoly market for the health insurance marketeers, and all monopolistic systems militate toward the biggest providers. Nonetheless, they are not the only beneficiaries of the process. Indeed, there are tens of millions of other beneficiaries who are and will be benefitting. I have been and will be one of them, as is my son (who lives in a State that has expanded Medicaid).

It is not surprising that a Forbes contributor would only focus on the business end of the process. I am one who would have preferred a "Medicare for all" approach, but that was not (at the time), politically feasible. Unjust enrichment is the cost of doing business, in this instance. My hope is that, eventually, we will be able to transition out of the monstrosity, but, for the time being, it was the best available alternative.

I suspect that over the next two decades these issues will result in the dismantling of the current program and the institution of a single-payer program. It will be an epic battle. There are, as has been pointed out, thoroughly entranched interests. They are well funded and motivated. We are living in interesting times.
_________________________
A well reasoned argument is like a diamond: impervious to corruption and crystal clear - and infinitely rarer.

Here, as elsewhere, people are outraged at what feels like a rigged game -- an economy that won't respond, a democracy that won't listen, and a financial sector that holds all the cards. - Robert Reich

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#264792 - 11/04/13 01:41 PM Re: ObamaCare Enriches Only The Health Insurance Giants and Their Shareholders [Re: issodhos]
Ardy Offline
veteran

Registered: 12/22/05
Posts: 11120
Loc: San Jose, Ca USA
Here we have apparently significant information that becomes less clear upon closed examination

Take Aetna. The largest health insurer
Their stock price has more than double kin the last 5 years. It seems significant and maybe the result of Obamacare.

By wait, the Dow jones index also doubled in the same period of time perhaps this price increase also correlates to Obamacare ?

Or perhaps the increased Dow has no correlation with Obamacare?

But maybe there are also non Obamacare factors driving Aetna prices.

Would anyone care to make the case that it is most likely that aetnas stock would have remained unchanged for 5 years absent Obamacare? Every other stock would go up but not Aetna because there was no Obamacare?

Given the realities of legislative politics, the health insurance companies would make sure they were protected in the legislation. It happens with every issue that comes before congress does it not? Is there something exceptional in Obamacare that does not happen on an every day basis in our government?
_________________________

"Not everything that counts can be counted, and not everything that can be counted counts."

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#264802 - 11/04/13 06:12 PM Re: ObamaCare Enriches Only The Health Insurance Giants and Their Shareholders [Re: issodhos]
pondering_it_all Offline
old hand

Registered: 02/27/06
Posts: 4192
Loc: North San Diego County
Isn't it ironic that the capitalist's main complaint about ObamaCare is that it isn't Socialized Medicine? ROTFMOL

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