“One of the most fervent promises President Obama made to the American people before his health overhaul law passed in 2010 was “If you like your health care plan, you will be able to keep your health care plan. Period. No one will take it away. No matter what.”
But, even before the law fully takes effect in 2014, health insurers are dropping out of markets in many states, causing millions of people to lose “the coverage they have now,” and tens of millions more surely will follow.
Carriers don’t want to leave the customers and markets they have been serving, often for decades, but they are being forced to walk away from significant investments in many states to cut anticipated losses.
Some of the carriers are leaving because of onerous state regulations, others are victims of a faltering economy, but costly new federal rules and regulations and the many more that are to come as a result of the Patient Protection and Affordable Care Act (Obamacare) are accelerating the exodus.”