When the nation’s largest insurer announced its departure from a few Obamacare state exchanges last year, the law’s defenders pooh-poohed the development as a blip on the radar. Then the health insurance giant pulled out of almost all markets, forcing apologists to insist that all was well because UnitedHealth’s overall Obamacare marketshare was relatively small. Next, the company said it was closing up shop within Covered California, the massive exchange in America’s largest state. And now we get word that another enormous insurer is edging away from participation in the law — withdrawing not just from Minnesota’s Obamacare exchange, but from the state’s entire individual-based market.
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The House Oversight Committee released a report Wednesday detailing extreme misconduct surrounding Oregon’s failed $305 million taxpayer funded Obamacare exchange and is calling on the Department of Justice to open a criminal investigation.
“The documents and testimony show Oregon State officials misused $305 million of federal funds and improperly coordinated with former Governor John Kitzhaber’s campaign advisers. Official decisions were made primarily for political purposes. Cover Oregon was established as an independent organization by the legislature, and was not intended to be a wholly controlled subsidiary of the Governor’s political apparatus,” House Oversight Committee Chairman wrote in a letter sent to Attorney General Loretta Lynch and Oregon Attorney General Ellen Rosenblum.
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A recent National Bureau of Economic Research (NBER) study reveals that ObamaCare Marketplace plans are a bad deal, even for near-poor enrollees receiving large subsidies from the federal government. The study confirms that net premiums (after subsidies) were still several times what enrollees might have paid out-of-pocket for medical expenses had they remained uninsured.
Gallup’s latest poll shows the majority of Americans still oppose the ACA, even two years after its full implementation. Those who are uninsured oppose the health care law by nearly 30 points.