Topics: Obamacare

Insurers swim in Obamacare flood of cash

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Beltway Confidential,Opinion,Timothy P. Carney,Barack Obama,Obamacare,Health Care,Insurance Industry

It was crucial to Obamacare's passage -- and central to defenses of it -- to pretend that this raft of subsidies, mandates and regulations was an attack on insurers.

President Obama, while selling the bill in 2009, said the system back then "works well for the insurance industry, but it doesn't always work well for you." White House pollsters realized the bill became more popular when framed as a broadside to insurers.

House Minority Leader Nancy Pelosi attacked insurers as "villains."

To this day, Democrats claim Obamacare repeal efforts are "the bidding of insurance companies."

This disinformation campaign has fooled at least some people. Author Stephen King defended Obamacare on Twitter, using the insurers' supposed hatred of the law as an argument in its favor.

But of course, this -- like most of Obama's anti-Big Business rhetoric -- is false. Around the states, insurers are a key force pushing legislatures to implement the Medicaid expansion and create exchanges. Enroll America, the non-profit trying to get folks to sign up for Obamacare, is funded largely by insurance companies.

So I wonder if this news, from CNBC last week, will force Democrats to change their rhetoric:

Obamacare insurers push to all-time highs

Bertha Coombs

As more Americans appear to be rushing to sign up for Obamacare plans before the March 31 deadline, investors have become bullish on health insurers.

Shares of UnitedHealth Group, Humana, Aetna and WellPoint rallied Wednesday — with all four recording all-time highs in the wake of the Obama administration announcement that total enrollment in Affordable Care Act health exchange plans now tops 5 million. The move sent the S&P 500 managed care sector to a historic high on Wednesday. On Thursday, the sector continued its upward march.

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