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I think -- -- it the very important story yeah we've been hinting at it for years here on -- on -- company.
Which opened up the back dole bailout that's encompassed within Obama cat.
Cities and states can shift that retiree health plans to Obama -- Chicago's -- Rahm Emanuel is what -- doing it.
He's announced plans to move city retirees onto these exchanges subsidized exchanges it's a way to pass -- 800 million dollars in unfunded retiree health care liabilities.
Beating Obama have all -- -- at the very center of this story for years now and she's with us now let me -- got -- right.
A city or a state.
They can't pay the health cap and benefits that every time -- they haven't put the money -- -- the money aside.
So as a -- of bailing them out they shift those costs to Obama can.
You're gonna see -- employee attempted.
All over the country of course the big winners -- the local -- and local taxpayers who otherwise would have to somehow come up with this money.
But the losers.
Are federal taxpayers of course all across the country.
But even more importantly the retirees themselves because they're at risk for losing the doctors and hospitals that currently -- when they get on these exchanges it's going to be a very small network.
Our doctors and hospitals willing to take.
Much lower fees than their current doctors and hospitals -- different don't probably.
And probably a different are looking I have to drive by that academic hospital and go to a hospital that's willing to take.
Lower reimbursement and that's what it's gonna make retirees very angry and probably produced lawsuits.
That's interesting because that means that the retirees will be paying a certain price -- big price the federal tax -- will be paying at a certain price the winners will be the cities and states.
Wish sloth off the bat or and the local Paul who will not be held accountable for their failure to plan and -- -- -- In the past that some other local polls can be voted out because of the unhappiness of the you know -- these guys who have gonna get chopped off.
And more bad news the Ohio insurance department announced this week that.
Premiums on the exchanges will be 88% higher than what people paid for individual insurance last year on average in Ohio.
Because of what's -- what a -- doesn't this mean that the overall cost of Obama cat goes up.
Is we're gonna be shelling out more money because more people on subsidize -- Definitely the president was in -- has to have San Jose California this week.
Saying that people who -- buying on the exchanges are gonna get a better deal than they barber got one maybe if you're uninsured that's true currently uninsured.
But for everybody out they are really.
-- big a lot of money in this deal -- you on top of this -- we appreciate you being with us again thank you -- --
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