Millions of Americans appear to be giving Obamacare the boot, now that Congress has decided not to extend the generous subsidies that made the Affordable Care Act actually seem affordable. Initial sign-ups had already dropped by about 1.2 million people, but insurance companies, state officials, and industry analysts are now reporting that many more have lost coverage as they face long-term higher costs. The federal government, perhaps hoping the problem will solve itself, has yet to release current enrollment data.
Insurers and analysts estimate overall declines of about 20 percent, dropping to around 19 million from the 24 million who were covered under the A.C.A. last year. Some indicators suggest even larger potential losses by year's end, marking a deep retrenchment for Obamacare and a reversal of significant gains made in recent years. Rising health care costs have become a top concern in public opinion polls, with premiums increasing for those who get insurance through work as well, because why should the uninsured have all the fun? Out-of-pocket costs are also climbing, as high-deductible plans become the new normal.
Health care has faded somewhat as a priority for the Republican-controlled Congress since lawmakers hit a stalemate over subsidies at the end of 2025, but it is likely to feature prominently in the midterm elections this year - because nothing gets politicians moving like the prospect of losing their jobs. According to an analysis by Wakely Consulting Group, which has access to detailed insurance industry data, marketplace coverage could drop by as much as 26 percent this year compared with last year's average enrollment. So, in summary: the 'Affordable' in Affordable Care Act is becoming a bit of a stretch.