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Chris Wysocki
Caldwell, NJ
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Tuesday, 12 August 2014
Top insurers say Obamacare exchange enrollment is shrinking fast
After people signed up, would they pay? That was the Big Question lurking in the shadows as the White House trumpted 8 million enrollees in Obamacare.
"Trust us," said the Obamabots, "they'll pay."
Except, as you might have guessed by now, the checks got lost in the mail.
ObamaCare exchange statistics should clear up any doubt as to why the Obama Administration has been tight-lipped about enrollment since celebrating 8 million sign-ups in mid-April.
Reality, evidence suggests, could require quite a come-down from those lofty claims.
The nation's third-largest health insurer had 720,000 people sign up for exchange coverage as of May 20, a spokesman confirmed to IBD. At the end of June, it had fewer than 600,000 paying customers. Aetna expects that to fall to "just over 500,000" by the end of the year.
That would leave Aetna's paid enrollment down as much as 30% from that May sign-up tally.
Oops.
Insert obligatory George Costanza shrinkage joke here.
Meanwhile, Obamacare premiums are rising by an average of 7.5%. This is, quixotically, being spun as good news.
The average national increase of 7.5 percent is "well below the double-digit increases many feared," HRI Managing Director Ceci Connolly wrote in an email.
Yeah, they screwed us over so much last year they can cut back a little.
Last time I looked nobody's paycheck went up 7.5%. But hey, Obamacare is still a bargain, right?
Maybe. If you got to keep your plan. And if the IRS doesn't take away your subsidy.
Me? I find out next month what my increase will be. And let me tell ya, I'm
praying it's only 7.5%. Because if history is any guide, that'll
be a bona fide miracle.
Posted at 18:19 by Chris Wysocki
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