Friday, August 12, 2016

PPACA Shortfall in Number of People Covered

Medicare's Chief Actuary predicted an additional 27.7 million people would have health insurance coverage in 2016 under PPACA, now widely referred to as Obamacare.  As of March 31 the number with coverage stood at 11.1 million, 16.6 million people less than projected.  That's 60% short of its target in PPACA's third year of exchange operation.

Advertising, or the lack thereof, is not the cause of people passing on coverage.  The United States' healthcare system is byzantine in its complexity and bizarrely expensive.  PPACA does nothing to address these faults.

It does shift the burden of coverage from employers to a tapped out Uncle Sam and the individual.  Notice the projected decline in workplace coverage for 1.5 million people.  It will be interesting to see the Census Bureau's projections on employer coverage in September. 

Update 8-15-16:  Health exchange insurance policies are going up 24% for 2017.   Given its shortfall in coverage and failure to reign in healthcare costs PPACA is terminal.