Saturday, February 15, 2014

Beshear's unreported Valentine's Day massacre

Truth took a bloody beating yesterday when Gov. Steve Beshear put crayon to heart-shaped construction paper for his latest profession of undying love for ObamaCare.

His enrollment numbers in Kentucky's version of the increasingly illegal health scheme fail to address both cancellations of policies for nonpayment of premium and policy cards sent to bogus addresses. It is impossible to take these numbers seriously without an independently audited count of such failed "enrollments."

The biggest risk to the government takeover from an insurance perspective is the increasing likelihood that too few young, healthy adults will sign up for ObamaCare policies, sparking a death spiral of premium increases starting in the second year. Federal estimates from the beginning have been that the critical 18 to 34 demographic must make up forty percent of enrollments to keep the overall group of insureds inexpensive enough to assure stable premiums.

Beshear claims 32 percent of insurance purchasers are under 35. Not only does this indicate clearly that the target is being missed by a long shot, but it also shows more Beshear manipulation of facts in that he is counting everyone under 35 and not just those 18 to 35. From an insurance perspective, this makes a huge difference. Clearly, the "young invincible" demographic hasn't fallen for the advertising featuring cats or "pajama boy."

Kentucky's brain dead media continues to flat line the EEG monitor.