The best model we have for Obamacare is the Massachussetts experiment with RomneyCare. The more I read about that debacle, the more pessimistic I get about ObamaCare. Now Megan McCardle points out an entirely new game the political geniuses in Massachussetts are playing: punish the winners and reward the losers. But I forget – that's what socialists do, isn't it?
The short version of the story: the fiscal effects of RomneyCare are making it almost impossible for hospitals in Massachussetts to make a profit (i.e., to avoid going broke). The politicians quickly realized that this is an unacceptable situation, and that it must be fixed. So their “fix”? Steal $100 million from the precious few hospitals that have managed to remain profitable, and give it to those hospitals that would otherwise be failing. Sheer genius!
If I was on the Board of Directors of any of those hospitals, I'd be examining all possible options for moving the entire operation out of state...
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