The biggest insurer in the nation has exited the Obamacare exchanges in Arkansas and Georgia, as insurers struggle financially in the exchanges. UnitedHealth will leave the two states and not sell plans in Arkansas and Georgia. The move comes as UnitedHealth has detailed more than $400 million in losses in the Obamacare exchanges and threatened to leave the exchanges altogether…UnitedHealth did not immediately return a request for comment. The insurer has previously said that it may have to leave the entire Obamacare business due to mounting losses.
“About 13 million people selected plans through the marketplaces in 2016 by the close of the open-enrollment period; however CBO and [the Joint committee on Taxation] estimate that, in any given month, an average of about 12 million people will be covered by insurance purchased through the marketplaces,” states the report. The office also projects that from 2017 to 2026 the number of uninsured individuals is expected to rise from 26 million to 28 million. More employers are expected to cease providing insurance for their employees as a result of the Affordable Care Act. While the office estimates that 155 million people will have coverage through their employer in 2016, that number is expected to decline to 152 million in 2019.
The New York Times recently published a story exploring how the law hasn’t significantly uprooted employer-based coverage, as many critics had predicted. The piece includes this major disclaimer: “Employers may feel differently if the economy turns down and the labor market is less robust or if there is a sudden spike in health care costs. Because workers can no longer be denied an insurance policy because of poor health, companies may be willing to drop coverage under the right circumstances, knowing that insurance is more available to everyone.” It also elides a major factor coming down the pike:
— Chris Jacobs (@chrisjacobsHC) April 5, 2016
Obamacare architect Jonathan Gruber has admitted that the so-called ‘Cadillac tax’ was specifically designed to eventually hit virtually all employer-sponsored plans, despite Democrats’ public assurances. Internal White House figures projected that eventually, 93 million Americans will lose their existing healthcare arrangements under Obamacare — the exact opposite of “if you like your plan, you can keep it.”
(3) The law’s failing co-ops will continue to fail:
Eight of the 11 remaining Obamacare health insurance co-ops appear likely to fail this year, according to an analysis of financial documents obtained by The Daily Caller News Foundation. Twelve of the original 23 federally-financed co-ops have already collapsed. The co-op program was funded with $2.5 billion in 2010. “In general, there’s not a turnaround in sight. The same problems that plagued them before are continuing,” Thomas P. Miller, senior fellow at the American Enterprise Institute who previously served as the senior health economist for the congressional Joint Economic Committee…”
In case you’d forgotten, one of Hillary Clinton’s big plans for fixing the law that was modeled off of her proposal — and which her daughter admits is “crushing” many consumers with costs — is to establish…(ta-da!) Obamacare co-ops. No wonder she thinks the law is working; she’s badly out of touch.
National Public Radio collaborated with Harvard’s T.H. Chan School of Public Health and the Robert Wood Johnson Foundation to survey Americans’ recent experience with health care. As to the Affordable Care Act, the survey’s findings are damning. They suggest that Obamacare has been worse than a complete waste of money.
This is the survey’s only question directly on Obamacare. Most respondents say that Obamacare hasn’t affected them; where it has affected them, most say the law’s impact has been harmful:
The promises that President Obama made about the ACA–cheaper premiums! lower co-pays and deductibles! better coverage!–have completely failed to materialize. This isn’t a surprise, of course, but it is nice to see it so copiously documented:
Remember how we were all supposed to save $2,500 a year in health insurance premiums? Only 4% say they have saved anything, and those respondents are probably wrong. For the vast majority, Obamacare has either done nothing, or has increased the cost of health care, counting premiums, deductibles and co-pays. Good going, Barry!
The federal government has had its share of failures over the years, but it is hard to think of a federal program that has proved such a comprehensive disaster, in such a short period of time, as the Affordable Care Act. Which, by the way, still hasn’t been fully implemented, as the Democrats have postponed some of its more baleful effects until 2017. So the number of people who are hurt by Obamacare, e.g. by losing the employer-based coverage with which they were content, is destined to rise.