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CBS: Problems with Obamacare Go Far Beyond Website

Millions stand to lose their coverage

October 28, 2013

The problems with the Affordable Care Act go far beyond the government website, Dean Reynolds reported Monday evening on CBS.

Reynolds talked to an insurance broker who is experiencing practical difficulties of law as it relates to increasing premiums for his customers.

The broker said because no one actually knows how many people will participate in the exchanges, major insurance carriers are reluctant to participate in the individual insurance market at all. Thus, according to the broker, competition decreases and costs increase for his customers:

DEAN REYNOLDS: Nobody knows how many people will participate, he says, so insurance companies are offering higher premiums than many anticipated until things settle downs, to the annoyance of his customers.

RICH FAWN: The administration and the people in Washington, they talk big picture. The reality is something totally different.

REYNOLDS: Some companies are declining to even participate in the insurance exchanges. In 23 states plus the District of Columbia, there are fewer than four carriers in the individual exchange market.

FAWN: You don't have Aetna, you don't have United Health Care, you don't have Cigna. Those are all national carriers who are not playing in the Illinois federal partnership.

REYNOLDS: And why are they not?

FAWN: They didn't want to take the risk.

Published under: CBS , Obamacare