Remember how I keep saying that seeking universal health insurance, while an admirable goal, is foolish unless something is done about reining in the cost of medical care?
Seen at Cato, an article about “Romneycare” in Massachusetts:
Massachusetts has done better at signing people up for subsidized coverage. No surprise: People are all too happy to sign up if others pay the bill - and Romney extended subsidies well into the middle class - a family of four earning $63,000 per year qualifies.
That “success” here translates to failure on another front: The cost of the program has exploded; it’s running $150 million above the original projection for this year alone.
Nor has the reform succeeded in holding down other costs. Insurance premiums in the state are expected to rise 10 to 12 percent next year - double the national average. While many factors surely contribute to that jump, one reason is that the new bureaucracy that the legislation created - called “the Connector” - has been adding new regulations and mandates.