Health insurance premiums to increase dramatically in 2017 as Obamacare inches towards failure

Health insurers are asking permission to raise their rates next year as they warn about the financial stability of Obamacare. Some are threatening to drop out of the Obamacare marketplace because they cannot make money.

LOS ANGELES, CA (California Network) - Although insurance companies helped write Obamacare, they cannot turn a profit, even with government subsidies. They are referring to the situation as a "death spiral." Unless premiums increase dramatically, several may be forced out of the market.

According to one report, insurers lost money in 41 states last year.

Republicans have long warned that Obamacare would result in massive premium increases.

Health care in America is a major election year issue because it is so expensive. The United States is the only major, industrialized western country that does not guarantee health care as a right. Such a guarantee would mandate socialized medicine in which all people would either be required, or would need to opt out of participating in. While expensive, such a program would ensure all individuals have medical insurance.

However, single-payer systems have been blasted for their lack of efficiency. Yet, no country with single payer pays as much as the United States on health care. This has led many to call for single payer as a cheaper option.

The most likely result at this time is that premiums will have to increase. The next president will have to deal with the consequences of the decision.

It has been predicted by some that Obamacare's entire purpose was to fail and to move the nation into single payer.

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