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Saturday, March 05, 2016

The Death of Obamacare

House Republicans have been trying, and failing, to repeal Obamacare since the day it passed. Now it turns out they may not have to. The program is on the verge of collapsing on top of itself. As Townhall notes:

To channel Donald Trump, Obamacare is a disaster. Guy had the latest on President Obama’s signature domestic achievement, where approval for the new law has surged…to 26 percent. Premiums for the plans offered under the Affordable Care Act are projected to skyrocket, which is prompting Americans topay the penalty to remain uninsured. Concerning the health care industry, those premiums don’t seem to be able to keep them afloat, with some insurance companies, facing massive losses, considering opting out of the Obamacare market by 2017. In North Carolina, Blue Cross and Blue Shield offers Obamacare plans to all of the state’s 100 counties. In the first year alone, five percent of their ACA customers consumed $830 million in health care costs; they only collected $75 million in premiums. That’s with the subsidy. On top of that, virtually every remaining Obamacare exchange is teetering on total catastrophe (via WFB):

An official with the Centers for Medicare and Medicaid Services told lawmakers last week that eight of the 11 remaining Obamacare co-ops have been selected for “corrective action plans” and “enhanced oversight.”

Twenty-three co-ops were created under the president’s health care overhaul, and so far more than half have collapsed and are no longer selling plans in the marketplace. The 12 co-ops that went out of business operated in Arizona, Michigan, Utah, Kentucky, New York, Nevada, Louisiana, Oregon, Colorado, Tennessee, South Carolina and a co-op serving Iowa and Nebraska.



Anonymous said...

Obama's plan was for this to fail so we the government can then naturally switch to the single payer system. All government all the time.

Anonymous said...

Is anyone surprised by this info??