Governor Steve Beshear took a break from ObamaCare cheerleading last week to announce that 280,000 Kentuckians dumped from health insurance policies could keep them instead, if insurers decided to continue pre-ObamaCare policies into 2014. Humana quickly took him up on it and now Beshear has nowhere to run and hide.
If Beshear’s Department of Insurance approves Humana’s application to offer coverage to Kentuckians with a requested 7.8% premium rate increase over 2013, Kentuckians will be much better off than if they were stuck with the 80% increase ObamaCare would have provided. But that would kill the ObamaCare “exchange” Beshear has been crowing about.
Very simply, if people could buy coverage in 2014 for just a little more than what they paid in 2013, not even the maximum federal subsidies could make exchange plans competitive. Unless, of course, you are already sick, a pregnant man or a drug addict ready to go in for treatment.
This scenario would turn the already expected insurance death spiral into a tsunami.
Or Beshear could compound the “like it, keep it” lie both he and Obama repeated ad nauseam and the personal financial devastation of ObamaCare by declining to let Humana cannibalize his illegal little ObamaCare fiefdom.
Pick your poison, Governor.