A large insurance provider, United Health Care, is giving every indication that it is getting the hell out of Obamcare exchanges. Unlike one of their core businesses, group insurance plans for companies, Obamacare exchanges offer expensive plans for people with limited means, making it financially viable only for those with huge medical needs and just enough money to scrape together for the 5 figure premiums and deductibles per year.
Unlike Romneycare, Obamacare is not allowed to compel Americans to buy insurance. Instead, they can only be
fined taxed a relatively paltry sum in comparison to the plan premiums required. This means that if you are not on welfare, you’ll probably risk paying cash for health care instead of the thousands you’d pay for not seeing a doctor.
Each year, the people paying for these “bronze” plans are ones seeking the best value (i.e. the sickest) and causing a net loss for insurers. In turn, every year they have to reset their rates upward due to losses from the year before. Eventually, only Blue Cross is going to be the insurer for all Obamacare, at least until they stop getting subsidized. Then Democrats get their single payer.