http://news.investors.com/ibd-edito...the-ropes-as-open-enrollment-looms.htm?p=full
The idea was that the two sides of the equation would balance. But the administration's calculations were way off. The amount insurers asked to be paid for 2014 was eight times more than the amount of money other insurers had paid in.
So a few weeks ago, the administration said it would pay just 13 cents for every dollar insurers had asked to take out of the pool — which has, for some, proved a catastrophic financial hit.
The failure of this reinsurance program is one reason so many of ObamaCare's nonprofit co-ops have imploded. This week, in fact, the ninth co-op announced it was closing shop, leaving just 14 of the original 23 running.
President Obama might think ObamaCare is "here to stay." But all of these developments — flat enrollment, a bad risk pool, the lack of bailout money and skyrocketing premiums — will make it more unpopular, and make repeal that much easier.
The idea was that the two sides of the equation would balance. But the administration's calculations were way off. The amount insurers asked to be paid for 2014 was eight times more than the amount of money other insurers had paid in.
So a few weeks ago, the administration said it would pay just 13 cents for every dollar insurers had asked to take out of the pool — which has, for some, proved a catastrophic financial hit.
The failure of this reinsurance program is one reason so many of ObamaCare's nonprofit co-ops have imploded. This week, in fact, the ninth co-op announced it was closing shop, leaving just 14 of the original 23 running.
President Obama might think ObamaCare is "here to stay." But all of these developments — flat enrollment, a bad risk pool, the lack of bailout money and skyrocketing premiums — will make it more unpopular, and make repeal that much easier.
