Tuesday, May 3 2016 05:12 EEST
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Health plans hit by Obamacare losses could raise rates just weeks before the election
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According to Politico, the last thing Democrats want to contend with just a week before the 2016 presidential election is an outcry over double-digit insurance hikes as millions of Americans begin signing up for Obamacare.

But that looks increasingly likely as health plans socked by Obamacare losses look to regain their financial footing by raising rates.

American politician, Mike Huckabee shared on Facebook:

'To the surprise of absolutely nobody who knows anything about health insurance (which, sadly, did not include the framers of the Affordable Care Act), Obamacare insurers are taking a bath and will have to impose double-digit rate hikes. This is bad news for Democrats because those hikes will start being announced just as the November election rolls around. So it will be the job of the media to try to suppress that news until after Election Day.

This being a Politico story, it tries to cushion the disastrous news as much as possible, but that’s not easy when the quotes from people directly involved in the Obamacare exchanges include such phrases as 'hemorrhaging red ink,' 'assume the worst,' 'the hole is getting deeper rather than getting better,' and concerning the penalties for not participating, 'it wasn’t enough of a hammer.' You know you’ve got a real winner of a government program when you need to threaten Americans with a bigger hammer to get them to go along with it.

Please help me spread the word by sharing this important story!'

The Patient Protection and Affordable Care Act , commonly called the Affordable Care Act or, colloquially, Obamacare, is a United States federal statute signed into law by President Barack Obama on March 23, 2010.

Together with the Health Care and Education Reconciliation Act amendment, it represents the most significant regulatory overhaul of the U.S. healthcare system since the passage of Medicare and Medicaid in 1965. Under the act, hospitals and primary physicians would transform their practices financially, technologically, and clinically to drive better health outcomes, lower costs, and improve their methods of distribution and accessibility.

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