Posted on 02/26/2016 7:52:56 AM PST by Olog-hai
Political uncertainty isn't the only threat to the Affordable Care Act's future. Cracks also are spreading through a major pillar supporting the law.
Health insurance exchanges created to help millions of people find coverage are turning into money-losing ventures for many insurers.
The nation's largest, UnitedHealth Group Inc., could lose as much as $475 million on its exchange business this year and may not participate in 2017. Another major insurer, Aetna, has questioned the viability of the exchanges. And a dozen nonprofit insurance cooperatives created by the law have already closed, forcing around 750,000 people to find new plans.
More insurer defections would lead to fewer coverage choices on the exchanges and could eventually undermine the law, provided the next president wants to keep it. ...
(Excerpt) Read more at hosted.ap.org ...
The last couple of years around 75% of the people signing up on exchanges were below the 250% FPL and eligible for additional cost sharing subsidies. People between 250 - 400% FPL haven’t been signing up in any big numbers. There maybe a few more signing up this year, but I doubt it will be enough to stabilize the exchanges.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.