I have been an insurance underwriter for 36 years and everyone in my business knew that the ACA would fail. I'm not involved in health insurance, though, so I have no skin in the game. While it's a noble cause to provide everyone health insurance, it's difficult to get the young, healthy folks to pay for it if they don't feel like that it benefits them. We call this 'adverse selection' - the folks who feel that they are more likely to need insurance are more likely to pay to participate than those who don't. As you are seeing, that results in lower premiums and higher claim dollars than projected that cause the massive losses and the withdrawal by the insurers who were underwriting the exchanges.
The reason that the larger insurance companies have gotten bigger is, like a lot of business lines in the recent past...mergers, which have eliminated the competition and innovation provided by smaller companies.
Politically, I will assume that the Democrats learned their lesson with the attempted passage of 'HillaryCare' in the first term of the Clinton Administration that was the cause for them to lose control of the congress in 1994. HillaryCare was a proposed single payer system...which I can only believe, that the ACA was designed to lead us to.
The reason that the larger insurance companies have gotten bigger is, like a lot of business lines in the recent past...mergers, which have eliminated the competition and innovation provided by smaller companies.
Politically, I will assume that the Democrats learned their lesson with the attempted passage of 'HillaryCare' in the first term of the Clinton Administration that was the cause for them to lose control of the congress in 1994. HillaryCare was a proposed single payer system...which I can only believe, that the ACA was designed to lead us to.
