As big private players begin pulling out, Obamacare looks doomed
According to insurance companies, Obamacare is unsustainable. They will either raise their premiums higher, or they will pull out of health insurance exchange markets entirely. That is the grim prognosis for the worst legislation in history, imposed on our country by Barack Obama in 2010. UnitedHealth, the largest health insurance company in our nation, has announced that it will exit Obamacare health insurance exchanges in most states next year. UnitedHealth says it has lost about $1 billion in selling health insurance that complies with Obamacare. Another big health insurance company, Humana, has hinted that it may also pull out of the Obamacare exchanges.
Obamacare was enacted on a promise to attract 20 million people to sign up for health insurance, but only 13 million have signed up. Even worse, too many unhealthy people have signed up without enough young, healthy people enrolling to offset expenses. Last November, premiums shot up again in many areas of our country. In Alaska, for example, health insurance premiums jumped by 31.5 percent, while in Mississippi the premiums rose by 36 percent. Obamacare can never work because people can sign up to get lots of expensive medical care in a few months, and then stop paying for the insurance. Many healthy people decline to pay the skyrocketing premiums, while many unhealthy people needing costly medical care will increasingly find ways to take advantage of the system.
The U.S. Supreme Court upheld how this law coerces people into buying health insurance, but nothing requires health insurance companies to participate. Insurers reportedly lost money on Obamacare in 41 states. If Congress and the next president do not repeal Obamacare, it may collapse on its own.
This article continues at [Charisma News] Obamacare Is Doomed