United Healthcare CEO Regrets Decision to Join Obamacare Marketplace
RUSH: "The CEO of UnitedHealthcare on Tuesday said he regretted the decision to enter the Obamacare marketplace last year, which the company says has resulted in millions of dollars in losses. 'It was for us a bad decision,' UnitedHealth CEO Stephen Hemsley said at an investors' meeting in New York, according to Bloomberg Business." You know, grab the violins. It wasn't necessary. This shouldn't be a surprise. This was predictable that this was gonna happen, that Obamacare was gonna be exactly what it's become.
I have to tell you, this is one of these things that is one of the many things about this country that frustrates me. These are smart people who should have known never to get in bed with this to begin with, and the reason they did was crony whatever it is. You know, sidling up to business and government, trying to get favorable treatment from the government vis-a-vis your competitors and so forth. I know exactly why these guys do it, but it ends up harming people. It ends up hurting the country. It hurt this guy's company, it hurt his customers, and all of it was predictable. It was unnecessary.
But I guess the lure of being so close to presidential power is hard for most people to resist. But I don't mean to sound callous here. I feel bad for the customers of this outfit that got hit. If it was a surprise, if it was unexpected, fine. We could be a little sympathetic. But when this was in the cards from day one that this had no prayer of working out economically. Obamacare, I mean. It had no prayer. It didn't have a chance. It wasn't even designed to work economically. It was designed to be so bad that you couldn't tear it down.
RUSH: "The CEO of UnitedHealthcare on Tuesday said he regretted the decision to enter the Obamacare marketplace last year, which the company says has resulted in millions of dollars in losses. 'It was for us a bad decision,' UnitedHealth CEO Stephen Hemsley said at an investors' meeting in New York, according to Bloomberg Business." You know, grab the violins. It wasn't necessary. This shouldn't be a surprise. This was predictable that this was gonna happen, that Obamacare was gonna be exactly what it's become.
I have to tell you, this is one of these things that is one of the many things about this country that frustrates me. These are smart people who should have known never to get in bed with this to begin with, and the reason they did was crony whatever it is. You know, sidling up to business and government, trying to get favorable treatment from the government vis-a-vis your competitors and so forth. I know exactly why these guys do it, but it ends up harming people. It ends up hurting the country. It hurt this guy's company, it hurt his customers, and all of it was predictable. It was unnecessary.
But I guess the lure of being so close to presidential power is hard for most people to resist. But I don't mean to sound callous here. I feel bad for the customers of this outfit that got hit. If it was a surprise, if it was unexpected, fine. We could be a little sympathetic. But when this was in the cards from day one that this had no prayer of working out economically. Obamacare, I mean. It had no prayer. It didn't have a chance. It wasn't even designed to work economically. It was designed to be so bad that you couldn't tear it down.