Perhaps you heard that over 2 million people have participated in Obamacare since October. This has been a major story on many Obama-friendly news outlets, as they celebrate how wrong conservatives were to celebrate the broken website issue in October.
Or perhaps you did not hear that Obamacare numbers were released, given that the rest of the Obama-friendly news outlets are burying the story. The difference is whether the news editors can do math. Many news feeds arent even carrying the story directly.
Why the dichotomy? Easy: because at first blush, the numbers look great. If you spend more than 30 seconds looking at them, they look terrible. This is the same problem plaguing the Obama administration about employment: the fact unemployment dipped is good news, if you overlook the fact that more Americans in recent years have stopped bothering to find non-existent jobs and no longer appear on the stats.
So 2.2 million people have signed up for Obamacare! Great news, it seems, for our oblivious and incurious president. But signing up is not the same as enrollment. In fact, we do not seem to have exact numbers for those are actually paying into Obamacare, versus those who simply input their information on the website and selected a tentative plan. How many actually paid into the system? Given that subsidy requests made up almost 80% of the enrollments, we can predict less than 20% will actually pay.
The older you are, you more you cost a health insurance provider. Conversely, the younger you are, the more money they make. Youngsters 18-34 made up only 24% of applicants, and that means the insurance companies will not have significant profit. You guessed it: the insurance companies are already raising rates because the risk pool is unbalanced, tilting heavily toward the money-losing older folks.
More people3.9 millionhave been shifted out of Obamacare and back into Medicaid where they belonged. This is important to know because the overall Obamacare success number of 6 million proves to be a complete lie. Even CNN is calling out the administration for horribly distorting the facts.
This is awful news: not enough people are enrolling to keep the program solvent, and those that are tend to be the money losers (so to speak).
The Czar cannot help but reminded of the old joke: Brent Gretzky is one of the most successful hockey players in history. He and his brother Wayne have a combined 2,861 points. Wayne has 2,857 and Brent has 4.
Obamacare is the 4, and Medicare the rest.