Lincoln, NE — Today, U.S. Senator Ben Sasse responded to House Minority Leader Nancy Pelosi’s reflexive and anti-fact defense of Obamacare following the mass exit of Aetna, Humana, and United Health from the exchanges.
“Nancy Pelosi is Obamacare’s Baghdad Bob. Big insurance companies are scrambling to the exit. More than half of Obamacare’s co-ops have already collapsed. The same families saddled with crummy choices and horrible premiums this year are likely to face an even worse situation next year. Despite these facts, House Minority Leader Pelosi claims that ‘the Affordable Care Act is working’ and that ‘insurers are continuing to adapt’ to a ‘competitive market.’ Her nonsense defense would be hilarious but for two reasons: first, she might actually believe it; and, second, this isn’t a joke to families who were sold Obamacare’s empty promises.”
On Monday, Aetna cited an expected $300 million loss in 2016 due to Obamacare as its reason to largely abandon Obamacare’s individual market. That decision follows exits from two other large insurers, Humana and United Health. To date, 16 of the 23 Obamacare created CO-OPs have failed.
Even before this year’s mass exit, consumers lacked choice and competition. At the beginning of 2016, Americans in 63 percent of the nation’s counties were able to choose from just three or fewer insurers on Obamacare’s individual market. With some of the largest insurance companies abandoning those markets, choice will likely diminish.