Obamacare is imploding in on itself, just like detractors said it would, and it’s coming to the tune of more than a million cancellations.
Bloomberg details the implosion here:
A growing number of people in Obamacare are finding out their health insurance plans will disappear from the program next year, forcing them to find new coverage even as options shrink and prices rise. At least 1.4 million people in 32 states will lose the Obamacare plan they have now, according to state officials contacted by Bloomberg. That’s largely caused by Aetna Inc., UnitedHealth Group Inc. and some state or regional insurers quitting the law’s markets for individual coverage. Sign-ups for Obamacare coverage begin next month. Fallout from the quitting insurers has emerged as the latest threat to the law, which is also a major focal point in the U.S. presidential election. While it’s not clear what all the consequences of the departing insurers will be, interviews with regulators and insurance customers suggest that plans will be fewer and more expensive, and may not include the same doctors and hospitals. It may also mean that instead of growing in 2017, Obamacare could shrink.
And from the Washington Post:
As major insurers jilt their ACA customers, nowhere in the country will more people be left with only a single insurer when the marketplaces open for a fourth year of business. These defections are causing turbulence for a quarter-million North Carolinians whose insurance companies are leaving the state — and for the main insurer that will remain. Such turbulence is especially palpable in the rolling Piedmont in and around Greensboro. Of more than 30,000 people here who have gained ACA insurance, 80 percent have been relying on United Healthcare or Aetna Health, the companies pulling out at the end of December.
Where’s your Obama now?!
Unfortunately I don’t think it will really matter. Bill Clinton has already been out badmouthing Obamacare, and some Democrats are floating the idea that they’ll need single payer to shore it up. Finally, the GOP elected a complete moron who has said he likes single payer healthcare too!!! So we’re basically yelling into a canyon of irrelevancy.
Enjoy your government healthcare. Or lack of it.