This year has seen a lot of insurers pull out of various Obamacare exchanges, to the point where some exchanges only have one or two insurers left. Which has to make you wonder, what would happen if every insurance company pulled out of the system? Apparently Pinal County, Arizona is about to find out. This may wind up being the first county where there are no insurers offering Obamacare plans, after Aetna recently decided to pull out of Arizona.
Blue Cross Blue Shield is still providing insurance on the county’s exchange, but they too plan to pull out of the exchange in 2017. Cynthia Cox of the Kaiser Family Foundation think tank told Business Insider that “If that’s the case, it’s mostly going to be unaffordable for those who are already receiving subsidies. They’re no longer going to be eligible for the subsidies, and it is likely that private coverage is not going to be affordable without the subsidies.”
Fortunately, the residents of Pinal County who can’t afford private coverage won’t be fined when tax day arrives. So essentially if Blue Cross Blue Shield can’t be persuaded to stay, and no other company steps in, then Pinal County will return to the same state of affairs that existed before Obamacare was implemented.
This is just further proof that Obamacare is falling apart. As time goes on, it’s becoming so financially unfeasible that the insurance companies can’t stay profitable in many areas. If they keep pulling out of the exchanges, we won’t need to wait for Congress to repeal the Affordable Care Act.
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