Friday, July 16, 2010

Bob Murphy: The First Victim of ObamaCare

The Obama Administration is about the hidden nudge.

If you aren't in a particular industry, you will have no idea how a nudge will cause problems for an industry. The new financial "reform" bill is all about nudges and winks. It will benefit the insiders at the expense of everyone else in the industry. It's the same with ObamaCare, it's packed with rules and regulations that will make it difficult for many to continue operating in the health industry. Economist Bob Murphy just found this out from direct experience. His insurance company just got nudged out of Murphy's state of residence. He quotes from the letter he received from his health insurance company:
Sadly, in 2009 our ability to compete in the fully insured small and large group health insurance markets was crippled by the passage of Senate Bill 2357, which requires all Health Maintenance Organizations doing business in the state of Tennessee to pay a 5.5% tax on the gross amount of all dollars collected from or on behalf of an enrollee. Undue pressure placed upon our organization by the increase of premium tax from 2% to 5.5% made competition with non Health Maintenance Organizations in Tennessee impossible.
They canceled his insurance, effective January 1, 2011.

ObamaCare nudging has begun. It's not going to be pretty or healthy.

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