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I wonder how many people that back the ACA understand the structurally flawed economics that are starting to implode before their eyes?
Those who advocate for the law dismiss recent news that large carriers like United Healthcare andAetna AET -2.76% will be sharply reducing their footprint in the exchanges. Now that the not-for-profit plans are also booking losses, it should be clear to even the most fervent believers that the problems with the Affordable Care Act are serious and structural.
Even the Blue Cross plans sustained losses in the first quarter. Health Care Service Corp (the country’s leading non-profit Blue plan) generated losses of $450 million. Most of these plans intend to stick with the exchanges next year. But they’re looking to push through double-digit premium increases to offset these unambiguous losses.
I wonder how many people that back the ACA understand the structurally flawed economics that are starting to implode before their eyes?