Saturday, December 21, 2013

Catron on Insurers' Faustian Bargain

David Catron's latest piece for the American Spectator notes that "Insurance Companies Deserve Obamacare".

He reminds us that insurers:
...enter[ed] into a Faustian bargain with the White House whereby they agreed to promote Obamacare in return for potentially enormous profits from millions of new customers who will be herded to them by its exchanges. In 2012, the health insurers kept their part of the deal by spending $216 million to pimp Obamacare, but the president and his accomplices began double-crossing them as soon as it became politically expedient.
Most Americans won't shed too many tears for the insurers.

And Catron also notes that the current problems of ObamaCare will further fuel the push towards abolition of private health insurance altogether by advocates of a "single payer" system.

(FWIW, I covered some similar points in my March 2009 PJ Media piece, "Health Insurance Industry Sells Its Soul to the Devil".)