United Healthcare announced that it plans on exiting most of the Obamacare insurance plans by 2017. Not their traditional commercial insurance plans or Medicare supplements, but specifically the insurance plans offered through the state exchanges of Obamacare.
Didn’t President Obama tell Americans that if they liked their insurance plan, they would be able to keep it under Obamacare? Actually he did, at least 36 times. So what happened?
In the faculty clubs of Harvard and MIT, Obamacare made great sense. The federal government would subsidize states to create their own insurance exchanges where commercial insurance carriers could sell policies to individuals and families who didn’t have insurance through work and couldn’t afford a traditional policy. Those below certain income thresholds were offered Medicaid.
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