Tonight, I’ll bring you up to date on Obamacare news.
Reports keep coming in about skyrocketing premiums under Obamacare. Increases will average 13.5 percent in Washington State which, ironically, found it had to repeal its Obamacare-type law in 1995. Increases in California will be 8 percent and, under a perversity of state law, insurers selling off the exchange there have to charge the same price. The lesson here is that price-fixing is bad, except when it’s not. Overall, the cost of health insurance has gone up 37 percent in the first four years of Obamacare.
Meanwhile, 1.6 million people have dropped out of the exchanges this year, more than expected. They didn’t pay their premiums. Remember, the administration’s goal was to get 21 million people signed up, but only 11.1 million people have an Obamacare plan at this time. That’s little more than half the goal and, as we found out recently, the ones who remain in Obamacare are twice as expensive to cover. They’re a lot sicker than the general population. So, half as many are enrolled as the administration wanted, and they cost twice as much. How’s this going to work? It’s not.
That’s why more insurers are throwing in the towel. Blue Cross will leave the Minnesota exchange after losing half a billion dollars there. Blue Cross and Health Net are getting out of parts of Arizona. Another story said Blue Cross will be the only insurer left in 8 out of 14 Arizona counties.
Obamacare co-ops continue to fail. Oregon is shutting down the co-op there, leaving 20,000 people stranded without coverage. Connecticut is also winding down its co-op. The Heritage Foundation did another great graphic about failing co-ops, and I’ll send that in for the wrap-up.
#PremiumPain #35 – California increases will be at least 8%; off-exchange sellers must charge same price!
#PremiumPain #34 – Washington state rates rising ave 13.5% (deja vu: state repealed guaranteed issue in 1995)
Staggering increase in health insurance costs under #Obamacare; 37% in first four years
1.6 million enrollees dropped out of #Obamacare plans by the end of March, more than expected
2016 Goal: 21 million. 2016 Actual: 11.1 million. ‘Success’: 52.86% of target
“Obamacare Enrollees Cost 93% More Than Other Individual Market Enrollees”
Blue Cross Blue Shield to leave Minnesota #ACA market after losing half a billion dollars
“Blue Cross, Health Net drop Obamacare plans in Ariz.”
Blue Cross Blue Shield could soon be “the only option” in 8 of Arizona’s 14 counties. Story & Commentary at ObamacareTruthSquad.com
Oregon is shutting down the co-op there, leaving 20,000 people without coverage. http://thehill.com/policy/healthcare/287085-oregon-obamacare-co-op-latest-failure-in-troubled-program
Connecticut starts shutting down #ACA co-op (supporters got the law they wanted; if it was stupid, too bad)