The monstrosity known as Obamacare just took a huge hit in Minnesota, and it has nothing to do with federal court cases against Obamacare — it has to do with a private insurer bailing out.
The “Blue Ox” of Minnesota Obamacare is calling it quits.
PreferredOne, the insurer that sold nearly 60 percent of all private health plans on Minnesota’s Obamacare exchange, on Tuesday said it would leave that marketplace. PreferredOne’s plans were the lowest-cost options on that exchange, known as MNSure.
PreferredOne cited the costs of doing business on MNSure as the reason for its surprising decision, saying that selling plans is “not administratively and financially sustainable going forward,” according to KSTP.com, the website of that Minnesota TV News network. <Yahoo Finance, link>
Have you ever witnessed a slow-motion train wreck, that took years to play itself out, with mangled bodies along the way and utter horror for all involved, including you, the “bystander”, who is forced by government to board the train so you can join the crash?
Sure you have, and you’re witnessing it RIGHT NOW.