Obamacare continues to be a dumpster fire, as Anthem Blue Cross and Blue Shield have announced that they will be leaving the Obamacare exchange in Wisconsin and Indiana.
In their Wisconsin announcement, Anthem stated that between the "volatile" market under Obamacare that is "shrinking and deteriorating" and the "continual changes and uncertainty in federal operations, rules and guidance, including cost sharing reduction subsidies and the restoration of taxes on fully insured coverage," there was too much uncertainty for Anthem to stay in the market.
"As a result, Anthem Blue Cross and Blue Shield has made the difficult decision to reduce its 2018 Individual plan offering in Wisconsin to one off-exchange plan medical plan in Menominee County only," the statement read.
People who are currently signed up for Anthem's insurance through their employers, Medicaid or Medicare Advantage, won't be affected by the move, as well as people who obtained Anthem insurance in the individual market prior to the passage of Obamacare. However, those who signed up for Anthem through Wisconsin's Obamacare exchange will have their insurance canceled at the end of 2017.
"Anthem will continue to advocate for solutions that will stabilize the market to allow us to return and offer consumers in Wisconsin Individual health plans in the future," the statement concluded.
Anthem's full statement can be read below:
The same reasoning was used by Anthem for their decision to withdraw from Indiana's Obamacare exchange. They will only be offering plans in the individual market in five Indiana counties.
It has not been a good week for Obamacare, as on Monday it was reported that insurers in Washington's state individual market are looking to raise their premiums by 22% on average for 2018, which would be a substantial increase from the 13.5% increase for 2017. Additionally, there will be less insurers offering plans on the individual market and in the Obamacare state exchange: (H/T: Seattle Times)
This year 13 insurers offered 154 plans in Washington’s individual market and nine companies sold plans inside the state exchange created under the Affordable Care Act (ACA), also known as Obamacare.
Next year 11 insurers would offer 71 plans with just seven companies selling inside the exchange. No insurers plan to offer individual market coverage in rural Klickitat County, although that may change.
Obamacare's defenders will point to the uncertainty of Trumpcare, especially regarding the cost-sharing subsidies, as reasons for the latest bad news for Obamacare. Such a defense is a deflection from the fact that the Obamacare model itself is unsustainable as it continues to crumble from the death spiral. There wouldn't be a need for cost-sharing subsidies if not for the death spiral.
The latest news on Obamacare highlights the need for full repeal, but the Senate seems intent on keeping most of the law intact, meaning that news about the law will only get worse from here.