17 Of 23 Obamacare Co-Ops Fold
The Obamacare Bill approved and brought into law under the Democrat controlled Congress and White House in 2009 is failing the American people. The promise of more competition and lower rates has faded with the setting sun.
Health Republic of New Jersey, one of twenty-three healthcare co-ops created with federal funding and government backed loans has folded. It is the 17th co-op to say “sayonara.” According to the Washington Free Beacon, 35,000 enrollees will have to look elsewhere. The really bad news according to the WFB is that all but one remaining co-op is under restructuring and corrective action plans.
It has been widely reported that only 11.6 million people were enrolled in Obamacare. High premiums, outrageous deductibles, and lack of competition have the numbers of enrollees declining. The Department of Health and Human Services, according to CNBC, project the levels to drift downward to 10 million by the end of the year.
The Affordable Healthcare Act is being felt by the American people. In many instances, deductibles are so high they prevent non-catastrophic medical treatment for those with insurance. The projected double-digit price hikes for Obamacare in 2017 will add to the problem by making insurance less affordable.
If the goal of Obamacare was to provide individuals with catastrophic healthcare coverage, then it was a partial success. However, if the Obamacare advocates think that they have truly provided comprehensive healthcare coverage at affordable pricing and reasonable deductibles, they are sadly mistaken. Like everything the federal government ventures into, failure lurks at the door. And in this case failure is not lurking, it has already busted the door down.
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