Saturday, December 31, 2016

Obamacare is thriving


From Kevin Drum at Mother Jones:

...A funny thing has happened on the way to the collapse: Obamacare is more popular than ever. Charles Gaba is the go-to guy for Obamacare enrollment data, and the simplified chart on the right is based on his more detailed versions here and here

Last year at this time, a little over 11 million people had signed up on the exchanges. This year, a little over 12 million have signed up...

Time will tell what this means, but it doesn't look like a death spiral. The premium hikes are painful, but clearly people find health insurance worth it even at the higher price. What's more, about 85 percent of Obamacare customers qualify for federal subsidies, and for them premiums are up only slightly—and not even that much if they also shop around.

So: insurance companies will be in pretty good shape this year. A few people have seen sharp premium increases, but the vast majority haven't. Uncle Sam is picking up most of the tab. In other words, 2017 is shaping up to be the healthiest year on record for Obamacare.

See also Before Trump Tries to Kill It, Obamacare Actually Just Got a Lot Stronger.

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