Over a million Americans (1.4 million) will lose their health coverage next year under Obamacare. Is anyone surprised by this? Obamacare is failing spectacularly across the nation. And before you celebrate, let me explain… this is all part of the single payer plan they wanted in the first place. Socialist healthcare has failed in the UK, it has failed in Canada… it has failed everywhere it has ever been tried. Unless of course you think being allowed to die because you are deemed ‘too old’ or ‘useless’ as a good thing. It’s like all of America having the same healthcare our vets get at the VA.
A growing number of healthcare companies are bowing out of Obamacare. Premiums are set to skyrocket by 50% or more in a number of states next year. Plans across 32 states are set to be either dropped or materially overhauled staring next year. This predictable crisis emerged as insurers found costs soaring due to the provisions of Obamacare, rules that have caused many companies to abandon the exchanges altogether. The most recent insurers to quit Obamacare were Aetna and UnitedHealth Group, both of which announced they were abandoning Obamacare this year.
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 marketsfor 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. As of March 31, the lawcovered 11.1 million people; an Oct. 13 S&P Global Ratings report predicted that enrollment next year will range from an 8 percent decline to a 4 percent gain.
Aetna lost $300 million in 2015 alone. No company, no matter how profitable, can withstand those kinds of losses for very long. Aetna CEO Mark Bertolini has also said that Obamacare is not forthright in telling people how health insurance works. That’s being for too kind to the behemoth regulatory nightmare that is Obamacare.
Not only will premiums go through the roof next year, there will be far fewer plans to choose from, limiting choices for many Americans. The losses will mostly affect individuals who have purchased their insurance plans through the Obamacare exchanges, instead of receiving their coverage from their employers. Bloomberg says that almost 100,00 customers per state will lose their coverage in Pennsylvania, Illinois and Tennessee. That’s bad enough, but North Carolina is far worse… closer to 300,000 will lose their coverage there. In Florida, 400,000 will find themselves without plans.
Obamacare has been steadily failing since its inception. We can only hope that it gets scrapped altogether. Don’t replace it… let the free market handle it. That’s the only sane solution to this whole mess.