It is absolutely dumbfounding that Harry Reid’s legislative turd is about to become law. For yet more reasons why this is The Worst Bill Ever, click here. A Wall Street op-ed piece dissects some of the bill’s hidden costs, which are all but certain to bankrupt or drive out insurers who serve the market for individuals and small groups. For one, because such companies don’t enjoy the economies of scale of larger insurers, their administrative costs are typically around 30%. And yet, Reid’s big, fat stinker would make them give rebates to customers if administrative costs exceed 10 percent.
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