In January, I wrote about the failure of Obamacare. I predict, not as a member of any political party, but as an insurance professional for 50 plus years, that Obamacare will ultimately fail.
Here’s why: No health insurance company will issue a policy unless an applicant satisfies the company’s health requirements, sometimes checks the criminal background and driving record, is drug free, checks the Medical Information Bureau files and most importantly, pays money.
No insurance company can survive with only a pool of old and sick insureds. A substantial increase in premiums must happen from present insureds or an infusion of capital (a bailout) from the government.
The fixes have not worked. Expenditures of millions of dollars has not worked and the failure (or outright refusal) of the millions of young and healthy Americans to enroll has put the Affordable Care Act into a death spiral.
William O. Jordan