Harley Schlanger ~ Dr Deagle Show 2013/11/06

Obamacare: SuperTARP for Wall Street from Health Insurance Hikes Nov. 5, 2013 (LaRouchePAC)--At the time of the brute-force enactment of Obamacare, in March, 2010, there was an annual flow of multi-billions of dollars going into Wall Street, through health care policies in its private insurance branch. One estimate puts it as $650 billion a year. The Big Five private insureres dominating the field then, and now, are United Health, CIGNA, Aetna, Humana, and Wellpoint; they and about 20 other outfits, issued annual policies for some 180+ million Americans. What better way--

if you are Wall Street--to get an even bigger infusion into your coffers, than to just hike the policy premiums. This is exactly what was designed into the Patient Protection and Affordable Care Act, under cover blather about "quality" care, "accessibility," etc. At the same time, the core of the scheme, is to cut the care given under insurance, by calling it "overtreatment." That is underway. You can see the rip-off playing out right now, even if the HealthCare.gov is malfunctioning. For example, in the case of individual policies (that is, self-insured), whose number is estimated variously from 12 to 19 million, if 10 million of these policies are cancelled, then new ones are obtained, with a hike in annual premium of $5,000 per policy, then a cool $50

billion will ensue to Wall Street/Big Insurance. This is a fast and dirty calculation, to show the rip-off principle involved. The other sub-categories of insurance (large business; small business; other groups) can be roughly calculated likewise. How is a person supposed to pay the additional $5,000 a year premium? Both bail-out, and bail-in! If you are a policy holder with a low-enough income to qualify for Federal insurance subsidy, then the government provides the bail-out to your insurer. If you don't qualify for a subsidy, then you--the policy holder--are supposed to pay the higher premium to the insurer. That's a bail-in. Right from the start, Wall Street was at the drafting table for Obamacare. Insurance company officials were at the White House personally, or through proxy associations, for nearly all of the infamous 30 roundtables and hearings over 2009, until the ACA was forced through Congress. This Fall, on October 24, the White House and insurance top execs met, amidst the debacle of HealthCare.gov. White House Team Obama included Valerie Jarrett, HHS Sec. Sebelius, CMS Administrator Marilyn Tavenner, and Denis McDonough, Obama's Chief of Staff. Team Wall Street attendees: Aetna (CEO Mark Bertolini); Humana (CEO Bruce Broussard); Wellpoint (CEO Joseph Swedish); CareFirst (CEO Chet Burrell); Kaiser Permanente (CEO Bernard Tyson); Blue Cross Blue Shield Ass'n (CEO Scott Serota); Tufts Health Plan (CEO James Roosevelt); Centene (CEO Michael Neidorf); America's Health Insurance Plans (CEO Karen Ignagni); Independence Blue Cross (CEO Daniel J. Hilferty); Health Care Services Corp. (CEO PAtricia Hemingway Hall); Health Net, Inc. (CEO Jay Gellert); Blue Cross Blue Shield of Florida (CEO Patrick Geraghty). This followed the Oct. 2 White House meeting, where Obama hosted the infamous heads of the Wall Street mega-banks, of the Financial Services Forum, including CEO Jamie Dimon, JPMorgan; CHO Lloyd Blanfein, Goldman Sachs; Robert Benmosche, CEO American International Group Inc., and the rest of the gang.