News and Commentary

7 Signs Obamacare Is Melting Down

   DailyWire.com

Obamacare is on the verge of a total meltdown, reports the Wall Street Journal, as the unsustainability of the healthcare law’s voluminous amounts of bureaucracy is causing the law to unravel and spiral downward quickly. The Democrats are starting to get nervous about Obamacare’s failings and may only be saved by Donald Trump’s weaknesses as a candidate.

Here are seven signs signaling the meltdown of Obamacare.

1. Blue Cross Blue Shield is leaving Tennessee’s largest Obamacare “exchange markets.” According to the Journal‘s report, “Tennessee is ground zero” for Obamacare’s collapse. Blue Cross Blue Shield have declared that they will leave the exchanges in Knoxville, Nashville and Memphis, the state’s three largest exchanges, after being burdened with $500 million over the course of three years, resulting in over 60 percent–30,000 people–of Obamacare customers being in need of new insurance plans. Blue Cross Blue Shield is following in UnitedHealthcare’s footsteps, as they left Tennessee’s Obamacare exchange in April.

2. The people who lost their insurance in Tennessee due to Blue Cross Blue Shield’s exit will have very few options available to them. Most of the state’s counties will now only have one insurer to choose from in the Obamacare exchange, which means “no meaningful competition whatsoever,” reports the Journal. In other words, only having one insurer will subject consumers to the inefficiencies of monopolies, likely meaning plans with less coverage and higher costs.

3. Not only will they have a lack of options, the costs will be enormous. According to the Journal:

Then there are the premiums. State regulators have already approved the highest annual rise in the nation, a weighted average of nearly 56%, according to data at ACASignups.net. The rate increases authorized in late August include an average of 62% for BlueCross BlueShield, 46% for Cigna and 44% for Humana. The latter two companies could ask to revise their rates upward depending on how many former BlueCross consumers they pick up.

Consumers then will be getting whacked with these higher premiums, and may have to resort to taking Obamacare’s penalty and forgoing insurance altogether if these skyrocketing premiums are too high for them to afford.

4. What’s happening is Tennessee is a microcosm for the rest of the nation. The Journal‘s devastating report continues:

Every single neighboring state will have less competition on its ObamaCare exchanges next year. The entire state of Alabama will have only one insurer. Almost all are facing double-digit premium increases: in Mississippi a weighted average of 16%; in Kentucky 25%; in Georgia 33%.

These problems aren’t confined to the Southeast. ObamaCare exchange buyers will have only one option in nearly a third of American counties, according to an August report from the Henry J. Kaiser Family Foundation. That’s a 300% increase in single-option counties from last year. Twenty-five states and the District of Columbia have approved rates leading to average premium increases next year of over 26%.

Additionally, Oklahoma’s Obamacare exchange is on “life support,” as premiums will have to be raised by 76 percent. As Townhall’s Guy Benson points out, premiums have been raised “across the board, shooting up by double-digits in many places.” As a whole, premiums are set to increase by an average of 10 percent in 2017. In fact, healthcare expert Bob Laszewski warned in August that in a year’s time, Obamacare may completely collapse altogether.

5. The number of uninsured Americans is set to skyrocket as well, which is an ominous sign. The Daily Wire has previously explained how there be a range of 26-28 million Americans who will lose their insurance over the coming decade, and that number could reach as 93 million if another economic collapse were to occur. That is not the sign of a thriving healthcare law.

6. To cover the losses under Obamacare, the Obama administration has resorted to illegally using funds. As the Daily Wire has previously reported, the administration used billions of dollars that were supposed to be used for the U.S. Treasury and instead sent them to insurers, a move that both the Congressional Research Service and the Government Accountability Office have ruled illegal. Naturally, the Obama administration is looking to tap into other federal funds to pay off insurers to cover their losses, reflecting the dire state of Obamacare.

7. The Democrats are attempting to distance themselves from Obamacare. Former President Bill Clinton made headlines when he slammed Obamacare as “the craziest thing in the world.” Dr. Ezekiel Emanuel, who is “one of the key architects of Obamacare” according to Townhall’s Katie Pavlich, hilariously attempted to pin the blame on Obamacare’s failures onto Republicans.

“Republicans bear some responsibility for this,” Emanuel bloviated.

And then there’s Sen. Tim Kaine (D-VA), Hillary Clinton’s running mate, who has criticized Obamacare and appears to favor some sort of “public option health care system,” according to Conservative Review’s John Gray. That may have been the left’s endgame all along: completely destroy the private insurance market to pave the way for government-run, single-payer health insurance.

In that case, Obamacare’s meltdown may be considered a success by leftist Democrats.