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Near ‘Collapse,’ Minnesota to Raise Obamacare Rates by 50% – 67%

Monday, October 3, 2016 8:49
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(Before It's News)


As we’ve said before Obamacare is a dysfunction generating machine. On all levels it’s rotten. This is what happens when the planners try to plan a vast swathe of the largest economy on earth. It is hubris. It is arrogance. It’s a disaster.

Remember, that the architect of Obamacare Johnathan Gruber (who was paid over $6 million for his “work”) said the only reason Obamacare passed was because the voting public was “stupid.”

That’s not true. The majority of the voting public didn’t want Obamacare at the time of its passage. Then large parts of the American voting public called for its repeal. No, the “stupidity” in the Obamacare equation came right from Washington DC.

(From Bloomberg)

Minnesota will let the health insurers in its Obamacare market raise rates by at least 50 percent next year, after the individual market there came to the brink of collapse, the state’s commerce commissioner said Friday.

The increases range from 50 percent to 67 percent, Commissioner Mike Rothman’s office said in a statement. Rothman, who regulates the state’s insurers, is an appointee under Governor Mark Dayton, a Democrat. The rate hike follows increases for this year of 14 percent to 49 percent.

“It’s in an emergency situation — we worked hard and avoided a collapse.” Rothman said in a telephone interview. “It’s a stopgap for 2017.”

Click here for the article.

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