TRANSCRIPT: Hello. Dr. Keith Smith with you – Surgery Center of Oklahoma. Thank you for joining us in this video blog series.
The biggest scam of all. It’s the Unaffordable Care Act, isn’t it? Obamacare.
When I just say ‘Affordable Care Act,’ many of you are smiling because there’s nothing affordable about it and it has nothing to do with care. It has everything to do with mandating the purchase of insurance.
How would you like to sell a product or service, the purchase of which was mandatory? That’s cronyism after all. And the insurance companies, indeed, are reporting record profits.
The hospital systems, many of them are reporting record profits for the same reason – because many who come through the door can be victimized with these huge charges. It has nothing to do with cost and everything to do with mandating coverage.
The other thing to keep in mind is many of the penalties and premiums that you think you’re paying to the insurance companies really are just being remitted to Washington D.C. So really, in many ways, it’s a tax increase. And the Supreme Court even called it a tax increase even though this administration claimed that it was not.
There are some elements of this scam that deserve their own blog. There’s the medical loss ratio, there is the idea that Medicaid spending to vendors in a community helps an economy, there’s the concept of bundled pay, there’s the concept of guaranteed issue. Every single one of these sounds great, doesn’t it? But it is not. It has a purpose that is consistent with the most vicious and evil cronyism that you can imagine.
We will break each one of these down in very short blogs, which I’ll try to make as understandable as I can. But it’s as if a group of folks got together at a whiteboard and drew up exactly what it was that they thought would maximize their income as crony affiliates of the government. And that is how this law came about.
I’ve thought that many times and I remain convinced. And every day that goes by, I’m even more convinced that’s exactly how this law came about.
We’ll continue with this video blog series with each one of these components of this giant scam, the biggest one of all – Obamacare.
Stay tuned. We’ll see you next time.