A recent survey found that a majority of Obamacare enrollees from last year aren’t coming back to their exchange next year because of the prospect of higher premiums. From the Daily Caller:
Fifty-one percent of respondents in a survey of last year’s Obamacare exchange customers don’t plan to purchase an exchange plan this year, according to a Bankrate Health Insurance Pulse survey out Monday. Those who earn less and receive higher premium subsidies were more likely to renew their plans. Fifty-three percent of those who earn less than $30,000 a year said they’d return to the exchanges, while just 35 percent of those making $75,000 or more expect to return.
Higher premiums are keeping most customers away. Forty-three percent said higher insurance rates are their biggest concern about buying Obamacare coverage again; just one in five said they’re most afraid of a repeat of last year’s website glitches and error messages.
So, just over half of respondents who happened to pull in less than $30,000 a year say they’re planning on returning to the exchanges, because they can take advantage of the subsidies they’re getting for not making very much money. If people make “too much money,” they don’t qualify for a subsidy, which means they have to foot the entire bill themselves. It’s no surprise then that most of those making over $75,000 aren’t planning on coming back. They don’t want to deal with the fact that they don’t qualify for a taxpayer-funded subsidy and the fact that rates are probably going to continue to rise.
Whenever the government gets involved in an industry like healthcare, the costs always go up, and the quality always goes down. Sounds like a great deal.