And within the next few months they’ll issue their ruling. Should the five right-wing justices on the high court do what many are expecting them to do, and strike down the individual mandate – then it COULD lead to the end of the for-profit health insurance industry as we know it.
That’s because other reforms within Obamacare force insurance companies to accept Americans regardless of pre-existing conditions and also outlaw rescissions – WHERE health insurers drop their customers when they get seriously sick. That means a bunch of sick Americans will flood the private health insurance market, forcing companies to actually pay for care, cutting million-dollar payrolls for health insurance executives, and cutting the fat dividend checks health insurance companies pay their investors.
The individual mandate was put in place to protect those private health insurers by giving them a pool of new, healthy, young customers to offset the influx of aging sick customers. So if the court strikes it down – President Obama isn’t the one who’s really screwed – it’s private health insurance companies.
And in the irony of all ironies – expect those same private health insurers to begin lobbying the Republican House of Representatives for some sort of mandate to protect them – forcing Republicans to switch sides to please their corporate donors. This fiasco is just getting started – stay tuned.