Music: “Pretty Fly for a White Guy” by The Offspring, and Parody

Original:

Parody by Weird All Yankovich:

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Illinois Legislators Pass Law to Punish Patients with Preexisting Conditions

How? Michael Cannon: 

Illinois legislators, responding to critics who complain short-term plans are “junk” insurance, have decreed that short-term plans can last no longer than six months and that enrollees whose short-term plans expire must wait 60 days before purchasing a subsequent plan. The Sargent Shriver National Center on Poverty Law tweeted about the new law, “GREAT NEWS! SB1737 is law, and Illinois will now protect healthcare consumers with pre-existing conditions.”

That is exactly backward. The new Illinois law does not protect patients with preexisting conditions. It does not outlaw “junk” insurance. It creates junk insurance by taking protections away from short-term plan enrollees and exposing patients with preexisting conditions to denied care and bankruptcy.

New federal rules allow short-term plans to:

allow enrollees to purchase only the coverage they value, frequently cost half as much as ObamaCare plans, and offer broader choice of providers than ObamaCare plans. Thanks to new federal rules, short-term plans can last up to 12 months, be renewed for up to 36 months, and can enable enrollees who fall ill to keep paying low, healthy-person premiums indefinitely, making access to care more secure for the sick. Critics acknowledge the new rules could extend health insurance to 2 million previously uninsured Americans.

Illinois legislators eliminated those health insurance options for the citizens of Illinois. Idiots.

Treasury ends the myRA, Obama’s retirement savings program

CNN Money:

The Treasury Department said Friday that it will end an Obama-era program called myRA that created accounts aimed to help Americans start saving for retirement.

The reality is that this was a way for politicians to build a market for their over-spending habits. It invests only in US government bonds. As the politicians continually over spend, they issue more bonds to pay for it, similar to using a credit card but not paying off the balance every month.

What’s worse, people who want to save can use any of several brokers and mutual fund companies such as Fidelity, Vanguard, and Charles Schwab.