Obamacare: Wrong In Practice, Wrong In Theory

President Obama admits that the new health-insurance exchanges are going to be buggy. He could hardly say otherwise. Small businesses won’t be able to shop online for at least a month. Some online marketplaces will be unable to verify whether applicants qualify for federal subsidies, so they are defaulting to the honor system. Some exchanges will lack the ability to calculate the size of those subsidies or Medicaid eligibility or both. Others are displaying misinformation about private insurance plans.

Meanwhile, a government audit found that key cybersecurity measures likely won’t be ready. The American Enterprise Institute’s Scott Gottlieb tells CNBC’s Larry Kudlow that “if there is one thing that could really put Obamacare in trouble, it’s going to be massive data-security breaches, and there is a real possibility for that.”

More