California’s Dependence on ACA Subsidies Shows Just How Fragile the Entire Obamacare Model Is |
No state has worked harder than California to convince the rest of the country that Obama’s Affordable Care Act was a success, and no state is proving more quickly that it was a myth.
Covered California, the largest state-run health insurance marketplace, is now telling its millions of enrollees to expect their premiums to skyrocket by an average of 97 percent if Congress fails to extend the meant-to-be temporary COVID-era ACA subsidies. The exchange also concedes that without a federal bailout, costs will rise so sharply that it expects 400,000 Californians to abandon the exchange altogether and go uninsured.
That exodus, healthcare professionals