Colorado Insurers Will No Longer Sell Child-Only Insurance Policies Because Of Obamacare Requirements

Surprise!

Anthem Blue Cross and Blue Shield of Colorado, the state’s largest individual-market health-care provider, announced Friday that it will stop selling new child-only individual policies on Sept. 23 because of uncertainty created by new federal mandates.  

The company becomes the sixth major insurer to confirm that it is pulling out of the child-only individual market in the past 2-1/2 weeks, including four of the state’s six largest individual insurance providers.

This kind of thing was not unexpected.  If you impose requirements that make it impossible to earn a profit providing a service, those who previously offered the service will stop offering it.  This is not rocket science.  It is the most fundamental, simple, and straightforward principle of basic economics.

And don’t complain about evil insurance companies, corporate greed, or any of that kind of nonsense.  The officers and directors of these corproations have a duty imposed by law to act in the best interest of the corproations’  owners or shareholders.  They would violate those duties and be subject to legal liability if they ran the company into the ground in the name of Obamacare. 

Please thank Michael Bennet, Betsy Markey, John Salazar, and Ed Perlmutter for their vote in favor of this ridiculous healthcare takeover in November.

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Published in: on September 17, 2010 at 2:24 pm  Leave a Comment  

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