Now, Aetna Inc. Chief Executive Officer Mark Bertolini is criticizing the Affordable Care Act once again, this time warning that the healthcare law is teetering on the brink of collapse. “It is in a death spiral,” Bertolini said in a recent interview with the Wall Street Journal. “My anticipation is that by 2018 we’ll see a lot of markets without any coverage at all.” The Aetna CEO explained that, “there isn’t enough money in the ACA as its structured, even with its fees and taxes, to support the population that needs to be served.”
This certainly isn’t the first time that Bertolini has been an outspoken critic of Obamacare. In October of last year, Bertolini predicted that rising premiums would deter healthy people from Obamacare, thus leaving insurers with even sicker customers and forcing premiums to rise even higher.
The economic burden of Obamacare is no secret. According to a CBO report from January of 2016, America’s national debt will reach $30 trillion within the next decade, due largely to the Affordable Care Act. It goes without saying that $30 trillion of debt is not only astronomical but also unsustainable. Someday, one generation of Americans is going to be forced to deal with the economic consequences. Furthermore, experts predicted that Obama’s signature health care law would drive workers out of the labor force, thus adding more strain to an economy that’s already been struggling. (RELATED: Is the economic strife generated from the ACA all part of the plan?)
The Internet is replete with horror stories of individuals and families who have seen their lives turn upside down as a result of the ACA. Some may remember the name Jessica Sanford, whose fan letter was mentioned by Barack Obama in 2013. In the letter, she raved about Obamacare and how inexpensive it was… it was only a matter of time. Just one month later, Sanford, a business owner in Washington State, completely reversed course, telling the Washington State Wire that she was “really terribly embarrassed.”
Initially, the Washington State exchange website, Washington Healthplanfinder, told Jessica that she would receive coverage for her and her son for just $169 per month. In the end, that turned out to not be true. Jessica’s son was placed on the state’s Medicaid plan and Jessica herself was forced to pay the individual mandate penalty instead of purchasing health insurance for herself. (RELATED: Read about Obamacare fraud - where exactly is the money going?)
More recently, in a CNN debate night special on Obamacare between Senators Ted Cruz and Bernie Sanders, a woman stood up and described an unfortunate situation that the Affordable Care Act had put her in. She explained that she owns several hair salons with nearly 50 employees in total and that she wouldn’t be able to afford to pay for each of them to have health insurance as required by the ACA. Sanders responded by essentially telling her to suck it up and get over it. “If you have more than 50 people, you know what, I’m afraid to tell you, I think you will have to provide health insurance,” said the Vermont senator.
And therein lies the ugly truth – the Affordable Care Act is actually not affordable, and it is being promoted by people, like Bernie Sanders, who simply do not care.
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