February 18, 2015


The irony of ObamaCare: How liberals came to love Big Business (W. James Antle III, February 18, 2015, The Week)

It's not every day that Mother Jones describes a policy as effective because corporate America says so. ObamaCare seems to be an exception to the rule.

"If getting rid of ObamaCare is such a good idea," asks reporter Stephanie Mencimer, "why isn't corporate America getting behind King v. Burwell, the Supreme Court case designed to demolish the Affordable Care Act?"

Indeed, the piece not only notes the lack of big business support for King, but also emphasizes that the Hospital Corporation of America is on the administration's side.

For once, liberals are arguing that a surge in corporate profits is proof that a law is working. [...]

But as The New York Times has reported, "Since the Affordable Care Act was enacted in 2010, the relationship between the Obama administration and insurers has evolved into a powerful, mutually beneficial partnership that has been a boon to the nation's largest private health plans and led to a profitable surge in their Medicaid enrollment."

Under ObamaCare, "share prices for four of the major insurance companies -- Aetna, Cigna, Humana, and UnitedHealth -- have more than doubled, while the Standard & Poor's 500-stock index has increased about 70 percent."

Even before the law was passed, insurance companies successfully opposed the government-run public option, but were on board with a lot of other provisions that meant more money and customers for their product.

"Health insurers supported the Patient Protection and Affordable Care Act and were one of the key constituencies consulted when policymakers crafted the legislation," notes Modern Healthcare in a report on the health insurance stock boom.

Posted by at February 18, 2015 2:16 PM

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