First US City Set to See Complete Obamacare Collapse
4th April 2017
Knoxville, Tenn., could be the first city in the U.S. where Obamacare completely collapses, leaving tens of thousands of people without the option to buy a subsidized insurance policy.
Humana, the city’s only remaining insurance provider on its Obamacare exchange, announced it is exiting the market in 2018. If that happens, Knoxville citizens will be in a rough spot. Unless another insurance provider fills Humana’s place, some 40,000 people in the Knoxville area will likely be left without the option to purchase an Obamacare-subsidized insurance policy, CNN reports.
Knoxville is illustrative of one of the main problems with Obamacare: It doesn’t promote market-based competition. Insurers pull out of marketplaces where it is not cost-efficient for them to provide services, and, as a result, consumers are left with fewer options at higher prices.
My, what a surprise. Aren’t you surprised? I’m sure surprised.