obamacare overview

Insurance companies would love to see a Mitt Romney victory in November that would result in the arrival of "Romneycare."

But they'd be equally happy if President Barack Obama is re-elected and his Affordable Care Act remains the law of the land.

In short, the insurance companies will profit either way and are planning accordingly.

But how is this possible?

By extending insurance to millions of people previously without coverage Obamacare will provide insurance companies with millions of new customers, a development that clearly will boost their bottom lines.

Romney has promised to dismantle Obamacare and replace it with his own "Romneycare," but don't mistake this new version for the comprehensive reform plan he signed into law as governor of Massachusetts in 2006.

Romney says his new plan would free up the healthcare markets to increase competition and drive down costs.

But this new incarnation of Romneycare -- perhaps more accurately described as Romneycare 2.0 -- is unlikely to contain healthcare costs and almost certainly will deliver fatter profits to private insurance companies.

"Under [Obamacare] reform, you get market expansion, and that's a good thing" for health companies, Dan Mendelson, the chief executive of Avalere Health, a consultancy told The Wall Street Journal.

"Under Romney, it's going to be like managed-care city," he said.

One thing is clear, however -- neither Obamacare nor Romneycare can stop Americans from getting older and swelling the rolls of government medical plans.

And that will spell huge profits for the companies who manage government programs.

Here's why...