Saturday, January 18, 2014

Looking still worse.

Following similar recent reports on the web - and a few even in the legacy media - WSJ reports this morning that "Early signals suggest the majority of the 2.2 million people who sought to enroll in private insurance through new marketplaces through Dec. 28 were previously covered elsewhere" [subscription required].

Credible estimates suggest two-thirds of the 2.2 million were previously covered elsewhere.

Could it be good news if there are too few newly-insured to create meaningful adverse selection?

But seriously it's bad news if so far only 10% of the administration projection of new enrollment has materialized.  (700,000 out of 7 million projected by March 31).  After considering the millions who lost their policies because Obamacare defined them as "substandard" the enrollment so far has not begun to reduce the number of uninsured.  

This administration is like the little kid trying to fix a mistake with a dirty eraser. The more he rubs, the worse his paper looks.
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