I Believe Few Understand Obamacare

The American people said: "Go slow, do it right."....But the geniuses in Washington DC are smarter than all of us. Only they know what is good for us.
If you like obama, you are going to love Hillary

1.4 million people are about to lose their current Obamacare coverage

Business Insider
BOB BRYAN
Oct 15th 2016 4:00AM

The exodus of insurers from the Affordable Care Act (ACA) is going to lead to a massive shift in coverage next year.

According to an analysis by Bloomberg's Zachary Tracer, Tatiana Darie, and Katherine Doherty, roughly 1.4 million Americans will lose the coverage they have currently through the ACA, better known as Obamacare, exchanges and have to find a new plan.

Bloomberg estimated the number by calling the insurance regulator in each state and asking how many people would be impacted. A few states, such as Georgia and Texas, either didn't answer Bloomberg or did not have enough data.

Eleven states and Washington DC said they would be unaffected.

According to the Bloomberg report, the states with the most turnover are Florida, North Carolina Tennessee, Illinois, and Pennsylvania.

The shift is primarily due to insurers leaving the marketplaces where they operated. Large firms such as Aetna, UnitedHealthcare, and Humana have all announced rollbacks of their Obamacare coverage for 2017.

Some states, such as Minnesota, Tennessee, and South Carolina have seen so many insurers leave that it has pushed the exchanges to the brink, lead to large premium increases, and have state lawmakers worried.

These insurers are reducing coverage due to the unexpectedly high costs of the pool of people entering the exchanges. The people that have signed up so far have been sicker and older than expected, meaning they are net losses for the insurers. Younger people have not jumped onto the exchanges as anticipated, leaving the insurers without a counterbalancing group to pay into the pool.

The Obama administration recently announced new initiatives and rules to help mitigate these problems.

Madhatter · 31-35, M

My only problem with obamacare was that I couldn't afford insurance. As a penalty for being too poor to afford insurance, I was fined. I was charged money for not having enough money. Great intentions, poor execution.

Northwest · M

@Madhatter: if you paid a penalty, it means that you can afford insurance, and you did not get it. If you cannot afford insurance, during the first year, you would have been exempt from penalties.

If you really cannot afford it, and you don't know, that you will get assistance, then you should ask (go to the help section).

Those who will see increases, are those who make enough money, and do not qualify for assistance. My premium is rising a little.

Madhatter · 31-35, M

@Northwest: I said I was charged. I never said I paid. I don't have the money to pay. I'm also not exempt. They say my household makes too much money. We barely make above minimum wage and only have enough to pay for electricity, the internet, and groceries. We do not buy luxury items, we eat cheap, and we don't go out anywhere. The system sucks royally for the poor. It only benefits people who refuse to work at all. The crackheads down the road who haven't had a job in two years? They're doing great. That's one of the reasons I'm putting in my two week notice tomorrow. I'll have an easier time without a job.