Monday, March 14, 2016

More (bad) trainwreck news

As we mentioned at the end of January, Open Enrollment v3.0 was pretty much doomed from the start:

"About 6 million people have signed up for health coverage that will take effect on Jan. 1 in the states that use the [404Care].gov enrollment."

That was way off the (implausibly) predicted 21 million anticipated to sign up. But it's also only part of the story:

"New exchange enrollment data released by the Obama administration reveal in multiple ways that ObamaCare is failing to live up to its goal of providing affordable care."

Most at risk? The very folks on whose behalf the whole effort was expended in the first place:

"Millions of working-class Americans face a choice between paying a penalty they surely can’t afford and buying a policy ... that may still wreck their finances if they land in the hospital."

And that's assuming that they can even afford to buy a plan in the first place. With ever-increasing premiums, deductibles and maximum out-of-pocket costs spiking, no wonder so many people are opting to just skip signing up in the first place. As we've noted time and time again, that $700 or so penalty fine tax is peanuts compared to the actual exposure dictated by massive ObamaPlan holes.

And the subsidies are doing little to mitigate the problem:

"While the cheapest bronze-plan premium (before subsidies) rose about $250 in Mississippi for a $25,000-earner, the subsidy fell $300, yielding the $550 increase."

Talk about a double whammy.
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