The Massachusetts Insurance Blackout

wsj.com ^ | 4/9/10 | Wall Street Journal

[PhxRising]

This week it became impossible in Massachusetts for small businesses and individuals to buy health-care coverage after Governor Deval Patrick imposed price controls on premiums. Read on, because under ObamaCare this kind of political showdown will soon be coming to an insurance market near you.

[PhxRising]

In a couple of years, this is what we have to look forward to for the whole country - Price Controls.

[GeronL]

Yep, this is the “crisis” they hope to create to get government-owned healthcare

[C19fan]

Just remember Willard signed the law that made this possible.

[LALALAW]

STUPID RHINO, STUPID LEFTISTS. They are all so sophisticated—smart enough to out-fox laws of economics.

[snowrip]

Crash and burn, America.

[timestax]

bump

[outpostinmass2]

Willard signed the law. But it was the demcrats who put medicaid under Masshealth. Why Willard didn’t see this coming is a mystery...or maybe not.

[detective]

This will be the perfect totalitarian scenario for Obama and the Democrats in a few years. No health insurance available and it is against the law not to have health insurance. The only solution is for the government to take over everything.

[Buckeye McFrog]

can you imagine when this starts to happen on a national level...the demagoguery....the Waxman show trials...they seem to be almost gleefully trying to provoke it

[Diogenesis]

The RAT, Willard, behind the scheme.

[schwingdoc]

Watch how this is going to go down though.
No insurance companies means no payments to the delivery systems. health care delivery systems have incredibly narrow revenue / cost ratios. So a week or 2 of no payments can be lethal.
once the insurance companies give up the ghost, the delivery systems, all the hospitals, clinics, offices, pharmacies, nursing homes etc will all put up the white flag and declare imminent bankruptcy.

Problems are:
1) can the economy seriously take the enormous loss of capital when all there is widepsread health industry failure?
2) can the federal reserve really ‘bailout’ or re-capitalize these systems without complete economic collapse?

I say no and no.