How many nails does it take to seal a coffin to prove that anyone or anything is truly dead? It seems that every week we get another report of how Obamacare has failed, placing another nail in the Affordable Care Act’s coffin. I guess Obama and Pelosi are fans of Monty Python because they keep saying ‘It’s not dead yet. It’s getting better.’
However, a recent survey conducted by Bankrate indicates that not only is Obamacare not getting better, but that it may be facing a terminal phase in its life expectancy. The survey revealed that only 52% of enrollees said they had a positive experience with Obamacare. When asked if they would return to the exchange for their 2015 healthcare plans, 51% said no.
Other breakdowns discovered in the survey were:
- 53% of those earning less than $30,000 say they plan to give the exchanges another try, compared with just 35% of respondents making $75,000 a year or more.
- 66% of previous exchange users who identify as Republican say they won’t return to the Obamacare marketplace, versus 41% of Democrats and 55% of independents.
- 52% of respondents who work part time say they plan to shop in the exchanges again, compared with 39% of full-timers.
The main reasons given in the Bankrate report were centered around the problems so many people had when enrolling the first time and the uncertainty of Obamacare.
Other industry experts and watchdogs are saying the higher costs of exchange plans and the reported increases in cost for 2015 is also playing a key role in why so many people say they will not return to the exchanges to re-new their plans. Unfortunately, for many of them, if they do nothing, their plans will most likely auto renew on their own. This could catch many policy holders off guard and not prepared for the increase in monthly premiums.
Mollyann Brodie with the Kaiser Family Foundation stated:
“I think a lot of work needs to be done. We’re at the very early stages of the second enrollment period, and right now one of the main target audiences is not primed or focused on it.”
If they don’t auto renew and around 50% of current enrollees opt to bail out of the exchanges, it would be devastating to the overall success and health of Obamacare and may just be the final nail to secure the lid on its coffin. We can only hope.