Filed under: Capitalism, Democrat Corruption, Domestic Policy, Health Care, Liberalism, Regulation, The United States | Tags: Lousy Insurance, Lying Again, Medicaid Payments
President Obama did another campaign speech for ObamaCare yesterday in the Rose Garden surrounded by sycophants who cheered on cue.
The most startling words were these:
“So here’s the bottom line.The product, the health insurance is good. The prices are good. It is a good deal.”
Either Mr. Obama believes that telling the truth is optional, or he is completely uninformed about his namesake policy. The product, the health insurance is not good. The prices are outrageous for less care, and for benefits that are not wanted. Most of the Uninsured will be funneled into Medicaid.
There are few doctors who will see Medicaid patients. In New York, Medicaid pays 23¢ on the dollar that private insurance pays. In the rest of the country, it pays 40¢ on the dollar.
Liberals seem to believe that doctors are all rich and don’t need to make that much money. The deadweight cost of collecting funds paid into the Medicare “lock box” (there is no such thing), adds up to 20% of the amount collected.
Just a couple of statistics that should make it clear why ObamaCare will not work. The horror stories abound. Ideology trumps all.