Insurers: At least 20% of new ObamaCare sign-ups failed to pay their first premium on time

Hot Air ^ | February 14, 2014 | Allahpundit

[JustSurrounded]

well, okay, thinking about it, it may be more effective calling it GovernmentCare rather ObamaCare. That would tie government explicitly to every failure.

[vpintheak]

Yep. Sad sorry state of affairs.

[willyd]

I think it will turn out to be like any other shopping cart where an average of 70% of transactions are abandoned for one reason or another. That is an average. That number could be even higher on something like this where people just logged in to “see what their coverage would be” and were shocked to find out that the 1% wasn’t actually going to pay for the 99%

[NVDave]

The parallel here is the idiotic subsidy and low qualification standards for first-time home buyers with low credit scores and no money for down payment.

What did we get? A housing market collapse, and with it the securitization market for RMBS paper.

Same thing is going to happen here, but with the medical insurance market and the medical services industry.

While the poor are mostly an economic drag, the efforts of do-gooders to “do something” about people who can’t manage money (or their lives) are worse than worthless.

[caww]

Phantom enrollees is right!

Obama activists signing up any and all they can find......never ending to boost the numbers...and that’s not working either as people become aware THEY have to pay for what they believed was “Free”.