Meltdown: 1.4 Million New Obamacare Cancellations Coming Soon

I do believe someone famous once said of Obamacare, "if you like your plan, you can keep it." And by "once said," I mean, "said over and over again, ad nauseam." Not only was that promise a lie -- which the White House knew at the time -- for millions of Americans who were booted off of their existing coverage when the law was first implemented, it's an ongoing lie for consumers who are participating in the law's exchanges. The next big shake-up is looming, directly caused by Obamacare's unsustainable model and lack of affordability -- via Bloomberg: A growing number of people in Obamacare are finding out their health insurance plans will disappear from the program next year, forcing them to find new coverage even as options shrink and prices rise. At least 1.4 million people in 32 states will lose the Obamacare plan they have now, according to state officials contacted by Bloomberg. That’s largely caused by Aetna Inc., UnitedHealth Group Inc. and some state or regional insurers quitting the law’s markets for individual coverage. Sign-ups for Obamacare coverage begin next month. Fallout from the quitting insurers has emerged as the latest threat to the law, which is also a major focal point in the U.S. presidential election. While it’s not clear what all the consequences of the departing insurers will be, interviews with regulators and insurance customers suggest that plans will be fewer and more expensive, and may not include the same doctors and hospitals. It may also mean that instead of growing in 2017, Obamacare could shrink.


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