Maine Granted Waiver from Obamacare to Prevent Destabilizing the Market

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Here is more evidence that Obamacare is simply the worst law ever passed. The state of Maine has been granted a waiver because if they were to comply the market supplying individual health insurance would go under. Seriously.

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The federal government Tuesday granted Maine a waiver of a key provision in President Barack Obama’s health care overhaul, citing the likelihood that enforcement could destabilize the state’s market for individual health insurance.

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The U.S. Health and Human Services department said in a letter it would waive the requirement that insurers spend 80 cents to 85 cents of every premium dollar on medical care and quality improvement. Instead, the letter said, the state could maintain its 65 percent standard for three years, with the caveat that HHS intends to review the figures after two years.

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The decision makes Maine the first state to receive a waiver of the requirement. Similar requests are pending from Kentucky, Nevada and New Hampshire.

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In seeking the waiver, Maine Insurance Superintendent Mila Kofman feared that one of three major insurers offering individual plans in Maine would withdraw from the market altogether if the federal requirement remained in place. The insurer, MEGA Life and Health Insurance Co., has 37 percent of the state’s individual market.

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Again I ask, if this law was so great, why on earth are all these waivers necessary? Good grief! What more does anyone need to know?

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In related news, the Obama administration has filed an appeal of the ruling finding Obamacare unconstitutional. They say they will continue to implement the law (despite the 1000’s of waivers) to avoid doing irreparable harm. Good grief.

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That Mr G Guy linked – thanks!