There are 1.4 million Americans who will lose Obamacare coverage as an increasing number of insurers drop out of the exchanges, Bloomberg reported.
Insurers such as Aetna, UnitedHealth, and BlueCross BlueShield have announced they would decline participation in the exchanges, forcing many Americans off of their current plans.
"Instead of growing in 2017, Obamacare could shrink," the article said. "As of March 31, the law covered 11.1 million people; an Oct. 13 S&P Global Ratings report predicted that enrollment next year will range from an 8 percent decline to a 4 percent gain.
Theresa Puffer, who was diagnosed with skin cancer, used Obamacare to get a BlueCross Blue Shield plan last year but now will have to find a new once since her plan will no longer exist on the exchanges. Premiums in her state of Minnesota will rise by at least 50 percent.
"Trying to determine which would be the best plan for my situation is not easy," Puffer said. "I’ve spent so much time trying to figure out what my options are."
"Nationwide estimates of the number of people losing their current plans are higher," the article states. "For example, Charles Gaba, who tracks the law at ACASignups.net, estimates that 2 million to 2.5 million people in the U.S. will lose their current plans, compared with 2 million a year ago."