Data On ObamaCare Shows Rationale Exaggerated

McArdle explains:

Part of Obamacare was a transitional “High Risk Pool” program to cover people who were unable to get insurance until the rest of the law’s provisions kicked in in 2014. The program allocated $5 billion. Medicare’s chief actuary assumed that it would attract 400,000 people; the CBO projected 200,000–but only because they assumed that HHS would use its authority to limit enrollment in order to keep the program below its budgetary cap.

The experience was not quite what had been expected. By January 2011, 8,000 people had enrolled, a number that rose to 12,000 by April. As of October 2011, by dramatically relaxing the requirements, lowering premiums, and paying brokers to enroll people, HHS had managed to get that number up to 41,000. Where were all the people with pre-existing conditions who couldn’t get insurance–the ones whose plight had been the impetus behind ObamaCare?

Full post can be found here.

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