9/24/15 Obamacare Results
Last week, the Census Bureau released detailed data on ObamaCare sign-ups. Unfortunately, the underlying numbers are disappointing.
The population of uninsured fell from 14.5 to 11.7% — about 8 and a half million people. A great headline. However, this number is half of what ObamaCare officials had forecasted when sign-ups began. And about a third of what was predicted when the law was passed.
Each year, since 2010, the Congressional Budget Office has ratcheted down estimates of how many will sign-up.
Studies also show the negative impact on employer-funded and individual-purchased health insurance policies. Onerous ObamCcare rules have caused small businesses to end coverage or cut-back employee hours causing workers to look elsewhere.
Most of the new health insurance coverage didnÃ¢Â€Â™t result from people signing up for the Obamacare exchanges. Nearly 7.5 million were pushed onto low-income Medicaid coverage during the first nine months of 2014.
Unfortunately, healthcare exchange coverage will likely worsen. Exchange premiums are expected to skyrocket as much as 45% next year.
A pair of taxpayer-funded programs sunset at the end of 2016. Keeping premiums artificially low by subsidizing the price people pay and paying out expensive claims with taxpayer instead of health insurance dollars expire in 15 months. This will lead some to drop coverage and instead pay the ObamaCare fine.
[More than 423,000 enrollees were dropped from the plan when they couldn’t prove their citizenship or immigration status. Another surprise arising from the implementation of Obamacare is the impact on Native American tribes who previously thought there were exempt from the law.]