Obamacare’s second enrollment season closed around the end of February, with 11.7 million signed up. By March 31, that had dropped to 10.2 million who actually paid their first month’s premium. New data from the administration report that number dropped further to 9.9 million by June 30.
What is also notable is that the entire drop of paid enrollees occurred in states using the federal exchange, not state-based exchanges (for which enrolment stayed at 2.7 million). There is no word on whether the drop-outs got employer-based coverage, descended into Medicaid, or stayed uninsured. 423,000 were dropped by the administration because of lack of documentation of citizenship or immigration status.
A stable market? Not quite, I guess.
Overall, 84 percent of enrollees have their premiums artificially lowered by tax credits payed to their health plans. The average discount is $270 per month. Further, 56 percent were getting reductions of out-of-pocket costs through taxpayer transfers to health insurers.
Washington, DC, is unique. Only 10 percent of its 14,637 exchange enrollees are receiving discounted premiums, and fewer than three percent reductions of out-of-pocket costs. This indicates the exchange (DC Link) is dominated by Congressional staff. However, we need not cry for them, because the administration is using taxpayer money to pay their costs through the back door – with no legal basis.