NY Post Editorial – Re-Blogged From http://nypost.com
Another day, another Democrat finally owning up to the fact that ObamaCare is a disaster. And another state facing the implosion of its health insurance market.
Minnesota Gov. Mark Dayton — once one of the Affordable Care Act’s most enthusiastic champions — is the latest Democrat to publicly eat crow for that support.
With good reason: Tens of thousands of Minnesotans are losing their coverage next year. And premiums on individual plans — which enroll 250,000 North Star State residents — will rise an average 50 percent to 67 percent.
“The reality is the Affordable Care Act is no longer affordable for increasing numbers of people,” Dayton admitted last week, calling the situation in his state “an emergency.”
This just a week after former President Bill Clinton blasted ObamaCare as “the craziest thing in the world,” adding that “it doesn’t make sense.”
Which is a lesson that Dayton, other governors and, more significantly, millions of Americans are learning all too well.
A nationwide Bloomberg News survey found that at least 1.4 million people in 32 states will lose their health insurance next year, as private insurers — facing massive losses — flee the market.
And those unfortunates face fewer and fewer alternatives for their next policy: At least one in five Americans in the individual market next year will have only one insurer to choose from in their state.
An S&P Global Ratings forecast warns that, for the first time since ObamaCare got rolling, participation in the program will actually shrink by up to 8 percent.
The Obama administration insists this is all “part of the normal business cycle,” but that’s whistling past the graveyard.
Ever-higher premiums are keeping younger, healthier Americans — the ones whose premiums were supposed to subsidize insurance for everyone else — away in droves.
And what President Obama intended as his signature domestic achievement is well on the way to becoming his biggest failure.