As I wrote in today’s column for the American Spectator, AARP’s endorsement of ObamaCare was all about the Benjamins. But unlike Judas, whose perfidy came at the cut rate price of 30 pieces of silver, AARP will scoop up a cool billion dollars for betraying its members:
Based on … estimates of declines in Medicare Advantage enrollment thanks to the cuts in the health care law, the report estimates that AARP will receive between $55 million and $166 million in new revenue in 2014 alone—-meaning the ten-year financial windfall received by AARP due to ObamaCare could total over $1 billion.
AARP’s largest source of income is the royalties it receives by lending its name to various Medigap insurance plans. But these plans aren’t needed by seniors covered by Medicare Advantage. So, the AARP backed a “reform” law that slashes MA funding by $200 billion.
Because of those cuts, millions of seniors will be forced to go back to traditional Medicare and buy AARP’s Medigap plans to cover the increased deductibles that come with that program. This skulduggery is why AARP has been summoned to Capitol Hill on Friday.
[ht John Goodman]
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