Virtually every major state Obamacare “exchange” is collapsing due to low profits for insurers and high premiums for enrollees.
In North Carolina, Blue Cross and Blue Shield offers Obamacare plans to all of the state’s 100 counties. In the first year alone, five percent of their ACA customers consumed $830 million in health care costs; they only collected $75 million in premiums. That’s with the subsidy.
Twenty-three co-ops were created under the “Affordable Care Act,” and so far more than half have collapsed and are no longer selling plans in the marketplace. The remaining co-ops are on life support and will need bailouts to continue.
See the column by Matt Vespa here.
