The future of US medicine under ObamaCare is already on display in Massachusetts. The top four health insurers there just posted first-quarter losses of more than $150 million. Most of them blamed the state’s decision to keep premiums at last year’s levels for individual and small-business policies, when they’d proposed double-digit hikes to match the soaring costs they’ve seen under the state’s universal-coverage law.
The companies have gone to court to challenge the state’s action — it apparently had no basis for its ruling beyond the political needs of Gov. Deval Patrick. If they win, Bay State health premiums will continue their rapid rise; if they lose, they’ll eventually have to stop doing business in Massachusetts — and the state will be that much closer to a “single payer” system of socialized medicine.
It’s what’s in store for all of America. The Bay State’s structure provided the base for ObamaCare. “Basically, it’s the same thing,” says MIT economist Jonathan Gruber, who was a health adviser to GOP Gov. Mitt Romney and President Obama.