State Obamacare Exchanges Facing Serious Financial Woes

Have you ever heard the expression ‘no news is good news?’ When it comes to Obamacare, that expression is becoming all so true, as virtually all of the news pertaining to Obamacare has been negative. For example, look at the following articles I’ve written on the problems surrounding Obamacare just this year:

If all that doesn’t paint a black enough picture for the future of Obamacare, then consider this piece of additional news reported by The Washington Post:

“Nearly half of the 17 insurance marketplaces set up by the states and the District under President Obama’s health law are struggling financially, presenting state officials with an unexpected and serious challenge five years after the passage of the landmark Affordable Care Act.”

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“Many of the online exchanges are wrestling with surging costs, especially for balky technology and expensive customer call centers — and tepid enrollment numbers. To ease the fiscal distress, officials are considering raising fees on insurers, sharing costs with other states and pressing state lawmakers for cash infusions.”

It seems no matter what direction one turns, the Affordable Care Act is having dire financial problems or is predicted to have them in the near future. Those financial problems are forcing policy holders to pay higher and higher premiums for less and less coverage. This is resulting in a growing number of people who are dropping their Obamacare coverage, such as the 35% of Covered California customers who opted out.

The bottom line is that the Affordable Care Act is rapidly becoming the UN-Affordable Care Act. If it were a private or shareholder owned business, it would have been forced to close its doors and file bankruptcy after less than two full years of operation, going down in history as the largest single business failure in American history. Instead, we taxpayers will be tapped time and again to continue to bail out the worst program in the history of the United States Government.



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