The U.S. Health and Human Services Department estimates that 1 million more people will sign up for health insurance on the Obamacare exchanges for 2017 compared with 2016, a department official told reporters on Wednesday.
President Barack Obama’s Affordable Care Act, often called Obamacare, created online exchanges where consumers can shop for individual health insurance and receive income-based subsidies. The exchanges opened in 2014 with insurance for sale by major companies including Aetna Inc and Anthem Inc. But enrollment has been about half of what was initially expected and some large insurers this year have said they were losing too much money on the exchanges because of that and the fact that enrollees are older and sicker than expected. Aetna and UnitedHealth Group have largely pulled out of the exchanges for 2017.
ObamaCare is collapsing. Its utter failures become more obvious by the day.
We all remember the promises of ObamaCare, chief among them that the “Affordable Care Act” would lower health care costs. The opposite has occurred.
In his 2008 campaign for president, then-candidate Sen. Barack Obama repeatedly promised to cut annual health insurance premiums by $2,500. When he took office in 2009, annual family premiums for employer-provided coverage, the most common of private insurance coverage, cost $13,375 according to Kaiser. In 2016, those premiums are $18,142. That’s an increase of $4,767.
The subsidies Obamacare provides to help people pay for coverage, and the penalties for those who remain uninsured, have not coaxed enough young, healthy people into the insurance marketplaces it created. So the pool of customers in some parts of the country is too sick and too small.
When a furor erupted over the rapidly rising price of EpiPens this summer, the drugmaker Mylan offered a solution: a coupon for the expensive drug.
People who need the EpiPens to protect themselves from life-threatening allergic reactions could use the coupon to get up to $300 off at the pharmacy counter if their insurance plan has a deductible or a co-payment.
It is a good deal for those people. But these seemingly generous coupons may be making drug costs higher for everyone.
Enrollment in the Obamacare insurance marketplace is likely to stall or even decline for 2017 as higher premiums drive away people who aren’t eligible for government subsidies, according to S&P Global Ratings forecasts.
“Our forecasted modest-to-negative growth is clearly a bump in the road, but doesn’t signal ‘game-over’ for the marketplace,” S&P analyst Deep Banerjee wrote in a report released Thursday.
Minnesota’s Democratic governor on Wednesday said Obamacare is “no longer affordable to increasing numbers of people” — the latest sign of Democrats’ growing concern about the law’s rising insurance costs.
Gov. Mark Dayton’s criticism comes as his state faces massive rate hikes and shrinking competition in its Obamacare insurance marketplace next year. Dayton’s comments also come almost a week after Donald Trump and Republicans seized on former president Bill Clinton’s remarks lamenting Obamacare’s affordability problems.
Obamacare finally got its moment in the spotlight.
After being largely ignored during the first presidential debate, the Affordable Care Act received a good deal of attention from Hillary Clinton and Donald Trump on Sunday night as they offered competing views on what to do next with the landmark health-care reform law.
Former President Bill Clinton on Tuesday revisited the issue of his support of Obamacare, a day after he called President Obama’s signature healthcare law a “crazy system.”
“I want to say one thing about the healthcare law, because that’s another thing they’ve been trying to tangle in…I supported the ACA. I support it today,” Clinton said at a Hillary Clinton campaign rally in Steubenville, Ohio.
Clinton said the healthcare law — which his wife, the Democratic presidential nominee, has defended — has done a “great job” insuring 25 million more people.
President Barack Obama said his signature health-care law, known as Obamacare, has “real problems” that have been exacerbated by congressional gridlock and political polarization.
“They’re eminently fixable problems in terms of strengthening the marketplace, improving the subsidies so more folks can get it, making sure everybody has Medicaid who was qualified under the original legislation, doing more on the cost containment,” Obama said in an interview published Sunday in New York Magazine. “But you hit a point where if Congress just is not willing to make any constructive modifications and it’s all political football, then you’re getting a suboptimal solution.”
Former President Bill Clinton attacked President Barack Obama’s signature health care legislation Monday, calling it a “crazy system” that “doesn’t make any sense” during a Michigan campaign event for Hillary.