Obamacare Enrollment Drops Sharply as Costs Rise
The New York Times • • business
Key Points:
- Millions of Americans are dropping Obamacare coverage following Congress's failure to extend subsidies under the Affordable Care Act, with initial sign-ups down by about 1.2 million.
- Insurance companies and analysts estimate a roughly 20 percent decline in overall enrollment, potentially falling from 24 million to around 19 million covered individuals.
- The rising costs of premiums and out-of-pocket expenses are contributing to the drop in coverage, reflecting broader increases in healthcare costs nationwide.
- Despite reduced congressional focus on healthcare after the subsidy stalemate, the issue is expected to be significant in the upcoming midterm elections.
- Wakely Consulting Group projects that marketplace coverage could decline by as much as 26 percent this year compared to last year’s enrollment average.
