About as well as one would expect for legislation written by Democrats and pushed by a president with no experience running a business (via Hot Air)
(WSJ) Consumers in 515 counties, spread across 15 states, have only one insurer selling coverage through the online marketplaces, the Journal found. In more than 80% of those counties, the sole insurer is a local Blue Cross & Blue Shield plan. Residents of wealthier, more populated counties in the U.S. receive lower-priced choices than those living in counties with a single insurer.
The average price for a 50-year-old American to obtain the cheapest midlevel “silver plan†through HealthCare.gov—the marketplace operated by the federal government—was $406 in counties with one health insurer, the Journal found. In counties with four insurers, the average price of the cheapest comparable silver plan was $329.
The price differences reflect the strategy of insurers to pick markets where they believe they can turn a profit—and avoid areas of high unemployment and a concentration of unhealthy residents they deem more risky.
As Ed Morrisey points out
So, in many cases, the number of insurers competing in many states’ individual insurance markets via ObamaCare is actually less than the number of carriers that sold individual policies pre-ObamaCare. …Winning?
He also pulls this pithy Obama quote
“My guiding principle is, and always has been, that consumers do better when there is choice and competition. That’s how the market works. Unfortunately, in 34 states, 75 percent of the insurance market is controlled by five or fewer companies. In Alabama, almost 90 percent is controlled by just one company. And without competition, the price of insurance goes up and quality goes down.â€
So, according to Obama, his signature legislation has failed in attempting to keep prices down and quality up.
So, didn’t ObamaCAre allow for interstate insurance? Then why is there still only 1 insurance provider in those areas, served by the uber-competitive and uber-cheap ObamaCare Exchange?
Might be proof then that competition drives down prices. So, then if the point of ObamaCare was to increase competition, then why is it limiting choices and reducing options?
Funny that.
Could it be that no one else WANTS to insure those areas? Or, could it be that the local laws and local policies have limited the insurance to just one?