According to new research published by SNL Financial LC, which reviewed insurers’ filings at the National Association of Insurance Commissioners (NAIC) and California Department of Managed Care, the aggregate change in individual enrollment from the third quarter of 2013 to the second quarter of 2014 was just over 6 million. That period roughly corresponds to Obamacare’s open enrollment, after which the Administration announced 8.1 million enrollees.
So, it looks like some Obamacare beneficiaries — maybe a couple of million — have dropped their plans. Still, insurers are happy to profit from those who remain. Liberal pundit Jonathan Cohn mocks Obamacare critics who claim Obamacare is going off the rails by noting that more insurers want to join in 2015. That is hardly the point. We have always known that Obamacare is good for insurers. (That’s why I’ve testified against bailing out insurers from their potential losses.)
It’s the patients and taxpayers who suffer under Obamacare, not the insurers.