The Spark

“The emancipation of the working class will only be achieved by the working class itself.” — Karl Marx

Health Insurers:
Good Buddies of Obama Administration

Nov 24, 2014

Since Obama signed the Affordable Care Act (ACA) into law in 2010, share prices of the major insurance companies have more than doubled, according to the New York Times. That is, the so-called healthcare industry immensely profited from the ACA.

According to this law, most Americans must have coverage; the government partially subsidizes it. The subsidized coverage would be nearly $2 trillion through insurance exchanges and Medicaid over the next 10 years.

Only, this subsidy is a bonanza for the health care industry. For example, Aetna, an insurance industry giant with revenue of over 47 billion dollars, recently reported that it is having “a very good year,” thanks in part to “excellent performance in our government business, which now represents more than 40 percent of our health premiums.”

And the Federal government is working with the companies in this scheme. One government official told the healthcare insurers at a recent conference in Washington: “We are in this together. You have been our partners. We are very grateful.”

So, all this “big government” politicking is for a casino show. The companies, in collusion with the Federal government, under Democrats or Republicans, are there to loot the workers at every turn.