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ObamaCare Clusterfuck: Privatization bandwagon hits bump in Arkansas

Bloomberg:

An Arkansas proposal to use Medicaid money to buy private insurance for low-income residents failed in the state House.

Sixty-nine lawmakers voted for the legislation today, while 28 were opposed, short of the 75 votes needed for approval, said Cecillea Pond-Mayo, a spokeswoman for the Arkansas House of Representatives. House Speaker Davy Carter, a Republican, plans to call another vote on the measure tomorrow, she said.

Arkansas Governor Mike Beebe, a Democrat, received informal approval on Feb. 18 from the federal government to use money for Medicaid expansion under President Barack Obama’s health-care overhaul to instead buy private coverage.

Well, turning my tax dollars directly into private profit through privatization, when there is a public alternative available, does seem a little raw.

I wonder if any of the proponents of this hare-brained scheme -- whether in Arkansas or the White House -- were ever able to demonstrate the value that health insurance companies bring to any of the transactions they're involved in? I'm guessing no, because there is none.

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