The Heritage Foundation’s Amy Payne unearthed an Obama quote from 2009 talking about the wonders of competition in health insurance, even though he has called complete socialized medicine with a single-payer, the federal government:
“My guiding principle is, and always has been, that consumers do better when there is choice and competition. That’s how the market works. Unfortunately, in 34 states, 75 percent of the insurance market is controlled by five or fewer companies. In Alabama, almost 90 percent is controlled by just one company. And without competition, the price of insurance goes up and quality goes down.”
Under ObamaCare’s exchanges there is less competition and higher costs. When the state Division of Insurance announced which insurers will be participating in the Silver State Health Insurance Exchange (SSHIX in the vernacular) under ObamaCare, only four companies signed on, all HMOs, and only two of those are offering insurance in all the rural counties — but at considerably higher premiums in most cases, as much as 75 percent higher in rural Nevada as opposed to the urban areas.
Additionally, in rural Nevada counties the cheapest rate in the exchange — the only place you can get that vaunted subsidy — is more than 50 percent higher than the cheapest non-exchange rate. So the rest of the taxpayers are paying more for subsidized coverage.
As of Nov. 6, 8,800 applications covering 14,819 people have completed the application process and received an eligibility determination on the Silver State Health Insurance Exchange. That doesn’t mean they’ve actually purchased insurance yet.
In the 36 states in which the federal government is handling exchange sign-ups, fewer than 50,000 have signed up. The goal for October sign-ups was 500,000.