President Obama’s and the Democrats’ signature legislation is breaking apart and costing billions of dollars in taxpayer bailouts to keep up with the failures and rate increases. Essentially every conservative, and many liberals, now realize that severe fundamental failings of Obamacare are being exposed at a startling speed. The latest analysis and headlines have not been too kind to Obama’s Affordable Care agenda.
Insurance premiums promise to keep increasing, a dozen state insurance co-ops have failed, enrollment is projected to taper off, and the majority of recently insured people have essentially just been pushed into Medicaid. The circumstances and results are so poor that insurance companies insist billions of dollars more are required just to meet the requirements and increasing costs of Obamacare. The complications and disasters of Obamacare are unraveling and disrupting America’s health care system and it is negatively effecting millions of lives.
Just last week the nation’s largest insurer, UnitedHealth Group, announced they may be forced to discontinue with Obamacare exchanges because of the tremendous losses in earnings. Stephen J. Hemsley, the CEO issued a press releasing indicating that, “in recent weeks, growth expectations for individual exchange participation have tempered industrywide, co-operatives have failed, and market data has signaled higher risks and more difficulties while our own claims experience has deteriorated.”
A Wall Street Journal review indicates that switching to other plans because of the higher prices due to the 2016 Obamacare increases “may not help, especially for those who don’t qualify for subsidies.” Doctors leaving the industry, less coverage, high deductibles, and increasing premium rates continue.
“Obama administration officials have touted premiums under $100 available on Obamacare’s marketplaces,” wrote Robert Pear of the New York Times on Nov. 14. “But for many consumers, the sticker shock is coming not on the front end, when they purchase the plans, but on the back end when they get sick: sky-high deductibles that are leaving some newly insured feeling nearly as vulnerable as they were before they had coverage.”
Forbes tore Obamacare to shreds by reporting the results of a Mercatus Center study revealing even more failed estimates from the federal government and nonprofit research organizations regarding the Affordable Healthcare plans’ impact. “The misestimates include: overestimating total exchange enrollment, overestimating enrollment of higher income people who do not qualify for subsidies to reduce premiums, projecting too many healthy enrollees relative to less healthy enrollees, and underestimating premium increases.”
Businesses with 50 or more full-time employees now face penalties over $2,000 per employee if they do not provide health insurance beginning in January 2016. Critics and many business owners scorn the mandate because it forces limits on growth, higher expense costs and economic disincentives.
The Baltimore Sun reports that over one-third of 1,493 obstetrician-gynecologists listed in the Maryland Obamacare network of providers, over a third of the doctors retired, dropped Obamacare, or died. Only 22% of the practitioners were available for new patients and well-patient appointments within four week time periods.