Most states had set goals for the number of people they expected to enroll in Obamacare by the end of March. Most of those states are less than half way to making those goals. While there is still a month and half to go, the rate of enrollment has slowed down since the December and early January figures.
With four and half months down and only 6 weeks to go until the March 31 deadline, states are struggling to reach the halfway mark in enrollments. Washington state set their goal at 340,000 but has only seen 170,000 enrollments. Nevada’s goal was 115,000 but has only seen 22,725 enrollments for a dismal 19.8% of their goal. Many other states like Kentucky, New York and Colorado are experiencing the same enrollment slowdown, indicating that they will also fall short of their enrollment goals.
Nationally, President Obama said that he expected 7 million enrollees by the March 31 deadline, but even using his figures of 3 million enrollees, they are still less than 50% with only 6 weeks left. The slowing of enrollment paints a dismal outcome for Obama’s flagship legislation.
If failing enrollment isn’t bad enough for Obama, the recent news about how many enrollees are actually paying their premiums is disastrous. Of Washington state’s 170,000 enrollees, only 88,071 have actually paid their premiums as of Feb. 1. It’s bad enough for them that they are only half way to their goal, but when you figure in how many have paid their premium, the success rate for the state drops to 25.9%.
Wisconsin, Nevada and Minnesota are also showing payments being made by 50% to 66% of those who enrolled. Extrapolate that to Obama’s predicted 7 million successful enrollments leaves him looking only around 1,750,000 people who enrolled and are paying for their policies.
If these figures hold up, it definitely spells disaster for the insurance industry and Obama. The insurance companies cannot survive with so few people paying their Obamacare premiums. They spent hundreds of millions of dollars rebuilding all of their policies to meet Obamacare standards and with no buyers, they are set to lose millions. The only way they will survive is if the federal government uses our tax dollars to bail them out.
The bottom line is that Obamacare is becoming more of a disaster than Obama and other Democrats could have ever imagined. If Republicans running for office this year were smart, they would use this as a main part of their campaign to help them defeat the democrats and hopefully gain control of both houses of Congress.