Obamacare Disaster Will Be Obama’s Enduring Domestic Legacy

Even before he leaves office, Obamacare has begun unraveling.

The law was passed over the objections of a majority of Americans, it is still opposed by a majority of Americans — and their opposition has been vindicated. Last week, UnitedHealth Group announced that, after estimated losses of more than $1 billion for 2015 and 2016 under Obamacare, the company was pulling out of most of its ill-fated exchanges.

Even before he leaves office, Obamacare has begun unraveling.

Read more at The Washington Post

Obamacare Premiums Expected to Rise Sharply Amid Insurer Losses

Health insurance companies are laying the groundwork for substantial increases in ObamaCare premiums, opening up a line of attack for Republicans in a presidential election year.

Many insurers have been losing money on the ObamaCare marketplaces, in part because they set their premiums too low when the plans started in 2014. The companies are now expected to seek substantial price increases.

Read more at The Hill

This is the Real Reason Obamacare is Sputtering

The fix is actually very straightforward: We need to increase the generosity of its subsidies.

Sometimes a policy was just a bad idea from the get-go, and spending more will just throw good money after bad. But sometimes a policy was a perfectly workable idea, and we just didn’t spend enough on it.

Read more at The Week

Why United Healthcare’s Exit From Obamacare Matters

UnitedHealthcare will operate only in a “handful” of health insurance exchanges in 2017, down from 34 states this year, company officials said Tuesday.

The company did not provide the anticipated details in its first-quarter earnings announcement released Tuesday morning or in a subsequent teleconference with securities analysts. But a spokesman confirmed Nevada and Virginia would be among the states where it will retain a presence. In the past week, UnitedHealthcare said it would leave Georgia, Michigan, and Arkansas.

Read more at Money

An Insurance Giant Quits Obamacare

The largest U.S. health insurer is quitting ObamaCare, notes a Journal editorial. On Tuesday UnitedHealth Group reported a strong first quarter, with one exception: an increase in projected Affordable Care Act losses. CEO Stephen Hemsley said UnitedHealth will withdraw from the ObamaCare exchanges in all but “a handful of states” in 2017. The editorial board adds: “If UnitedHealth departs all markets, the number of U.S. counties served by three or more ObamaCare insurers will fall to 48% from 64% today, while the counties with a single insurer will rise to 24% from 7%. These trends could lead to even larger premium…

Read More at The Wall Street Journal

Insurers Warn Losses from Obamacare Are Unsustainable

Health insurance companies are amplifying their warnings about the financial sustainability of the Obamacare marketplaces as they seek approval for premium increases next year.

Insurers say they are losing money on their Obamacare plans at a rapid rate, and some have begun to talk about dropping out of the marketplaces altogether.

Read more at The Hill

Obamacare Shows Why Health Insurers Should Be More Like Southwest Airlines

About 25 percent of exchange users switched their plans in 2016. This is precisely what health wonks hoped would happen. In response, insurers have fought to keep costs down, narrowing networks and hiking deductibles.

The result is that Obamacare is proving much cheaper than the Congressional Budget Office originally expected. But many of the participating insurers aren’t much enjoying the experience — some priced their plans too low and are losing money, and others simply don’t see how to make enough money to justify the effort of participating in these state markets.

Maybe the right model for insurers is something like Southwest Airlines: low prices, narrow networks, exceptional customer service, and not much else.

Read more at Vox

The 8 Obamacare Co-Ops Most Likely To Fail This Year

Eight of the 11 remaining Obamacare health insurance co-ops appear likely to fail this year, according to an analysis of financial documents obtained by The Daily Caller News Foundation.

Twelve of the original 23 federally-financed co-ops have already collapsed. The co-op program was funded with $2.5 billion in 2010.

Read more at The Daily Caller

 

Watchdog: Security Flaws Plague State Obamacare Exchanges

A federal watchdog has found security flaws in state-run ObamaCare exchanges in California, Kentucky and Vermont, potentially putting millions of customers’ data at risk.

The three states were found to have cybersecurity weaknesses such as insufficient encryption and inadequate firewalls, according to a months-long study by the Government Accountability Office.

California’s system, known as Covered California, is the nation’s largest state-run exchange. Both California and Kentucky have been touted as a national model, though Vermont has had a documented history of issues with its exchange.

Read more at The Hill

How Obamacare Just Made Filing Your Taxes Worse

It’s that wonderful time of year again: tax season. Some 150 million American businesses and individuals are expected to file taxes by this month, covering thousands of arcane provisions that determine how much you and your family will pay Uncle Sam and state governments this year.

But this filing season is the second in which Americans may have yet another—and bigger—tax bill to worry about: the one forced on us by the Affordable Care Act. It serves as a stark reminder of all the ways this law continues to harm American families and businesses, six years after it was signed.

Read more at Time