Robert Laszewski is a policy adviser and analyst for the health insurance industry. He’s correctly predicted Obamacare’s pitfalls since Day One.
In an interview with “Full Measure” this Sunday, Laszewski says he warned the Obama administration and other Democrats not to call it the “Affordable Care Act.” Earlier this week, the administration announced Obamacare premiums are spiking 25 percent.
Here’s a transcript from our interview:
Laszewski: The future is not good. The fundamental problem is not enough healthy people have signed up to pay for the sick, and not enough healthy people have signed up because the insurance plans that people are being offered just simply aren’t of good value.
Attkisson: What do customers see as wrong with the insurance product?
Laszewski: The insurance products consumers see are still too expensive in terms of premium. And the deductibles and copays are too high.
Attkisson: Can you explain in simple terms how the insurance companies are losing so much money if they’re charging so much for premiums and if deductibles are so high?
Laszewski: It’s real simple. If you only provide a health insurance plan that the sickest people buy, you can’t charge enough. You can never charge enough.
Attkisson: At it’s core, it was supposed the provide affordable insurance for everybody who needed it.
Laszewski: Yes. The Affordable Care Act was supposed to ensure that whether you were employed or unemployed or self-employed, you would have access to affordable health insurance. For someone who’s not getting a subsidy, who’s paying the full cost of the insurance, it’s likely they are now paying about double what they paid before under the old market, where only healthy people could get in.
