Canary in the Obamacare Coal Mine
Excerpt: The nationwide and ongoing exodus of insurance companies from Obamacare has reached its natural conclusion in Pinal County, Ariz., where every participating carrier has left the exchange. About 10,000 residents of Pinal County, where obesity and unemployment are higher than the state average, currently get health insurance through the Obamacare exchange. Come 2017, every single one of them will lose that coverage. UnitedHealthcare, Humana, Aetna, and Blue Cross Blue Shield found that the taxpayer subsidies Obamacare offers cannot cover the costs of the pre-existing conditions it requires participating insurers to cover. Aetna and Blue Cross initially proposed raising premiums by a whopping 86 percent and 65 percent, respectively, before realizing that it still would not be enough. Even Arizona’s taxpayer-chartered Obamacare “co-op” plan — a warm, fuzzy, greedless nonprofit — had to abandon the field.