(NationalSentinel) Obamacare: Insurance giant Anthem has had enough of Obamacare. The company announced it will exit all remaining Obamacare exchanges this year following major financial losses.
As reported by the Washington Examiner, the GOP’s claim that the law is “collapsing” may be oversold at the moment, it is a lot more accurate than Democrats’ claims the law is “working well.”
Anthem’s decision leaves millions without any choice of insurance companies:
In 2017, for the first time, residents of one-third of U.S. counties can choose only one insurance provider. This decision, driven by the company’s lack of profitability on the Obamacare exchanges, means that next year there could be zero choices in some places.
The problem is that too many of the 12 million or so Americans enrolled through the exchanges are sicker than was expected (and, hence, more expensive to cover), and insurance companies are required by regulation and law to cover much more than the average person needs or requires.
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Yet at the same time, most of the consumers there don’t notice, because the taxpayer picks up some or all of the tab in the exchange for people who have lower incomes. That’s the part of Obamacare people are most likely to miss. And of course, the other desirable outcome of Obamacare is that so many more people have insurance, at least on paper, even if their deductibles are so high that it amounts to what we once would have called a catastrophic policy.
There are myriad problems with the law, which is now officially in its fourth year, that cannot be fixed and won’t be fixed under the current structure. Anthem is just the latest insurer to bail; others including Aetna and Humana have already announced they would be leaving most, if not all, exchanges.
None of this was supposed to happen, if you recall. The Affordable Care Act was sold to the public as the end-all, be-all of “healthcare reform,” but as is typical of big government Democrats, their one-size-fits-all, break-it-if-it’s-not-working-the-way-we-want, approaches do nothing to preserve and advance individual liberty and freedom. Rather, they empower government bureaucrats and government agencies at the expense of liberty.
Insurers bailing on exchanges and leaving millions with no choice will only make premium prices rise, thereby making coverage-in-name-only even more profound.
If Republicans fail to send repeal and replace legislation to President Donald J. Trump to sign – after promising for years they would do so – their constituents will exact a toll on them at the next election. It’s really as simple as that.