Friday, March 4, 2011

ObamaCare Driving Insurers From Markets

The Galen Institute has published a new report on the harms caused by ObamaCare, "Negative Consequences of Health Law Force Health Insurers to Withdraw from Markets Across the Country" (PDF).

The piece is fairly short (4 pages plus references). The new laws are affecting multiple sectors, including children-only insurance, Medicare Advantage, Group Insurance, and Individual Insurance.

Galen summarizes their report as follows:
The impact of new rules on health insurance is causing people throughout the country to "lose the coverage they have now" and to have many fewer options.

We all keep hearing the news in a drip-drip-drip of reports, but it seems particularly stark when you pull together in one paper, as we have done, the number of companies that have withdrawn from various markets in response to new rules. This leaves customers with fewer options of affordable coverage in an increasingly non-competitive market.
(Via IBD.)