I have been a health and life insurance broker for almost ten years. I service Illinois, Ohio, Wisconsin, Indiana Georgia, and SC, Love Philly sports!

Aug 25, 2016

Notable & Quotable: ObamaCare Death Spiral

‘Insurers simply couldn’t make money in the individual market.’

From “The Return of the Obamacare Death Spiral” by Peter Sudermanat Reason.com, Aug. 17:

We know what a health insurance death spiral looks like because we’ve seen them before . . . . Washington state’s experience in the 1990s is particularly instructive: After the state put in place guaranteed issue and community rating rules, carriers saw an influx of unusually sick and expensive beneficiaries, as well as individuals gaming the system by signing up for coverage in advance of an expensive medical event, then cancelling as soon as that event was over. Insurers simply couldn’t make money in the individual market, and so between 1993 and 1998, 17 of the state’s 19 plans stopped selling individual insurance plans. The next year, the final two carriers left the individual market. It was a total meltdown.

Notable & Quotable: ObamaCare Death Spiral
From "The Return of the Obamacare Death Spiral" by Peter Suderman at Reason.com, Aug. 17: We know what a health…www.wsj.com