Romneycare faces financial meltdown
‘At some point you run out of other people’s money to spend on your promises’
According to several insurance and public-policy analysts, Massachusetts’ much heralded health-insurance reform plan, labeled “Romneycare” by its critics, is facing a potential financial crisis and may have to be scaled back.
A senior analyst at a Virginia-based think tank that has monitored Massachusetts’ health care system says that Gov. Deval Patrick will have to take the budget-cutting axe to the program because of a major stress on the state health-care system.
Citizens Council on Health Freedom President Twila Brase says the stress on the system is no surprise.
“With the economic downturn, what is happening is that people are losing their jobs or that their employers have decided that one of the ways to cut their own costs is to eliminate their employer-sponsored coverage,” Brase told WND. “So either of those could put more people into the category of getting subsidies.”
The economic downturn and the Massachusetts individual mandate have led to huge spending increases in Massachusetts state-funded insurance programs.
And now… the rest of the story. …..
Harold
