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ObamaCare Clusterfuck: The only people buying insurance on the Exchanges are people who already have it

ObamaCare keeps being fucked up in ways I never dreamed it would be fucked up. Health Care Policy and Marketplace Review:

"Only 11% of consumers who bought new coverage under the law were previously uninsured," according to a survey of 4,563 consumers eligible for the health insurance exchanges done by McKinsey & Company and reported in Saturday's Wall Street Journal.

The Journal reports that "insurers, brokers, and consultants estimate at least two-thirds" of the 2.2 million people who have so far signed up in the new exchanges are coming from those who already had coverage.

This is consistent with anecdotal reports from insurers I have talked to that are seeing very little net growth in their overall individual and small group markets as of January 1.

That's even worse than I thought it would be even considering the January 1 individual policy cancellations and small group renewals that are driving employers to reconsider offering coverage––and that is saying something. The vast majority of the individual cancellations, particularly because of the early renewal and extension programs, are yet to come. The same can be said for the small group renewals.

This also tells us why the first three months of the Obamacare enrollment had a relatively high average age––they came from the same market that tended to skew older that the health plans already covered.

When McKinsey asked why subsidy eligible people weren't buying, 52% cited affordability as the reason. Readers of this blog will know that I'm not shocked to hear that given what I have been writing about the high after-tax premiums, net of the subsidies, people are finding, as well as the high deductibles and narrow provider networks the subsidized Silver and lowest cost Bronze exchange plans are offering people.

"If the election were held today...."

The Dems keep saying that eventually people are going to love ObamaCare... But the ObamaCare plane hasn't pulled out of its nose dive yet. (And if the only bright spot is Medicaid, what the fuck did we need the Exchanges for?)

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Submitted by hipparchia on

(And if the only bright spot is Medicaid,

speaking of Medicaid and bright spots --

what the fuck did we need the Exchanges for?)

1. this is where all the large employers are going to be allowed to dump their employees beginning in I forget which year, 2015 or 2016 or 2017. the good: everybody's health insurance will be decoupled from their employer (finally!); the bad: everybody will have to buy their own insurance, like the swiss; the ugly: narrow networks and high deductibles for all!

2. this is where medicare will be dumped when it gets fully voucherized. except that we're more likely to get the swiss cheese version than the real swiss version. and

Submitted by lambert on

As I keep saying, there's no reason a "Marketplace" can't be set up for literally everything. Including retirement (Social Security becomes "the public option").

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Submitted by jo6pac on

at this news but then I'm sure those that come here aren't surprised. I do believe the year 2015 before the election is the time ll corp. Amerika can throw their so-called employees under the bus. That way most of Amerika public will have time to believe the spin we (congress) didn't do it but you the people did it, It's blame the customer time.

Will the sheeple wake in time, no because they're so scared for the job they might have or to busy to just to busy trying to fucking hang in there.

It will get even worse, and thank dog for davos were there wealth of the world will discuss how to help us serfs. WTF could go wrong. The link of were this came from and the first sentence couldn't be better.

Whole story here

Love the first sentence.