Thursday, July 31, 2014

Stories Causing Atlas to Shrug, July 31st Edition

Medicare took in only $283 Bil. in 2013 but spent $583 Bil. That shortfall was 40% of the federal deficit in 2013.

Under Obamacare so far, the individual market for insurance has grown by 2.2 million subscribers while the employer-based market has declined by 1.7 million for a net gain of only 500,000. The rest is due to the expansion of Medicaid.

California insurance renewals in 2015 will be at or near decade lows for two primary reasons: (1) Insurance companies are horrified to add fuel to Proposition 45 price-control push; and (2) Obamacare bailouts.