During the last presidential debate, Hillary Clinton denounced Donald Trump for pledging to repeal the “Affordable Care Act” and take our health care system back to “the way it used to be.” The underlying assumption of this accusation is, of course, that the system works better now than before it was “reformed.” Many accept that as a given, but think about it. Before Obamacare was foisted upon us by Mrs. Clinton’s fellow Democrats, do you remember reading headlines announcing that more than a million people were about to lose their health insurance plans in one fell swoop? Neither do I.
Yet if you paid any attention to the news over the weekend you probably noticed a Bloomberg story titled: “More Than 1 Million to Lose Obamacare Plans as Insurers Quit.” Its basic thrust is that insurance companies have been fleeing federal and state exchanges in droves because the law’s perverse incentives make further participation financially unsustainable. Thus, as it is phrased in the article, “At least 1.4 million people in 32 states will lose the Obamacare plan they have now, according to state officials.” This is the system Hillary pledges to “defend and expand” on her campaign website.
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