Obamacare has been in steady decline since it rolled out under Barack Obama’s presidency.
Despite Democrats’ claims that many millions would suffer from its repeal, the damage done by keeping it alive is worsening. According to Fox News, the majority of rural residents in Nevada have found themselves without health care options under Obamacare, as Anthem is forced to cut ties.
With Republicans and Democrats battling over the repeal of Obamacare, many insurance companies, like Anthem, are getting nervous about how the program will be funded, according to The Washington Post. State officials have determined that with Anthem backing out of 14 of the 17 counties, Nevadans will find themselves without an insurer to provide Obamacare.
Fox News reported that Governor Brian Sandoval (R-NV) was upset by the company’s decision. “This is a significant blow to the state’s individual market,” he said, stating that it was an upsetting “surprise and abrupt decision to leave the healthcare exchange.”
Yet many insurance companies have been saying for months that even if Obamacare is kept alive it would still be impossible to continue doing business. According to The Blaze, Aetna’s CEO, Mark Bertolini, said Obamacare was in a “death spiral” back in February.
Bertolini explained that Obamacare can only function if enough healthy individuals are enrolled to cover the cost of the sick using the subsidies and deductibles. When premium rates increase, healthy individuals are opting to seek health insurance elsewhere or drop it altogether. This creates a bigger burden on the remaining healthy individuals as insurance rates are increased even more to pay for the sick, creating a vicious cycle.
With enrollees dropping off Obamacare, states’ inability to fund the program, and law makers waging war over a repeal, health insurers are understandably backing out of a bad situation.
All of the chaos comes as a surprise to Democrats and Americans who believed Obama’s promises of its success, and has created an “I told you so” moment for Republicans. According to The Daily Wire, the enactment of Obamacare broke at least seven promises made by the former President.
Obama’s words were championed by Democrats throughout the years: “If you like your health care plan, you can keep it,” and “If you like your doctor, you can keep your doctor.” He also promised that premiums would be affordable to everyone, that it wouldn’t be a burden on the nation’s deficit, that plans on Obamacare would be varied and competitive, and a number of other claims that have been proven false.
The reality of Obamacare has been skyrocketing health insurance premiums, huge financial burdens on the state and national levels, few, if any, plans remaining available to Americans in many states (like Nevada), and very few managing to keep their original plans or doctors.
The State of Nevada may soon have NO insurance companies participating in their healthcare exchange. Is it time to repeal Obamacare and come up with something better?
Some Democrats may claim Obamacare would have worked if Republicans hadn’t tried to repeal it and if health insurers stuck with it. But the fact is this: The program is based on socialist principles that just aren’t sustainable in the real world. No one wants, or can afford, to pay high healthcare premiums when they’re healthy so someone else can get coverage for less or free.
Obamacare needs to be repealed soon or the continued “death spiral” will not only continue to attack voters in the pocketbooks, it will eventually force politicians’ hands, and that could lead to a much worse proposition.